Scammed? How to Get Your Money Back in NZ

🚨 The First Hour Matters Most

Realising you have been scammed is a horrible feeling, but what you do in the next few minutes can make the difference between getting your money back and losing it for good. Scammers move money quickly, often through several accounts and then overseas or into cryptocurrency, so speed is everything. This guide walks you through the immediate steps to try to halt or recall a payment, who to report the scam to, and the newer protections that can get some money returned to you. It also covers chargebacks for card payments, the Banking Ombudsman if your bank will not help, why investment and crypto losses are so hard to recover, the common scam types to recognise, and how to protect the people around you. Anyone can be caught out. Scams are designed by professional criminals to create panic and urgency, and falling for one is not a sign of carelessness. The most useful thing you can do now is act fast and keep good records.

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                Do this first: Contact your bank straight away and ask them to try to stop or recall the payment. The sooner your bank knows, the greater the chance of getting the money back. Most New Zealand banks now run a 24/7 scam reporting line, so you do not need to wait for branch hours.
            

Your Immediate Checklist

Work through these steps in order. The first three are urgent.

Call your bank now: Use the number on the back of your card or in your banking app, and ask the fraud team to try to stop or recall the payment and freeze anything at risk.
Stop all contact with the scammer: Hang up, do not reply to their messages, and do not follow any more instructions. If a caller asked you to install software or move money, that is the scam.
Change your passwords: Update the password for any account caught up in the scam, and any other account that shares that password. Turn on two-factor authentication where you can.
Do not pay anyone else: No genuine agency will ask for a fee to recover your money. Offers to get your funds back for an upfront payment are a second scam.
Write down what happened: Save texts, emails, account numbers, phone numbers, screenshots and payment references while it is fresh. You will need these to report the scam.
Report it: Tell your bank formally, then report to the agencies covered in the next section so others can be warned.

⚠️ Never Give Remote Access or One-Time Codes

A real bank, Inland Revenue or Police officer will never ask you to install remote-access software such as AnyDesk or TeamViewer, read out a one-time passcode, move your money to a "safe account", or buy gift cards. If someone asks for any of these, hang up and phone the organisation back on a number you find yourself, not one they gave you.

Why Speed Changes the Outcome

When you make a bank transfer, the money does not always leave instantly. If you report it fast enough, your bank may be able to place a hold on the payment or ask the receiving bank to freeze the funds before the scammer withdraws them. Once the money has been cashed out, converted to crypto or sent offshore, recovery becomes very difficult. That is why the single most valuable action is a phone call to your bank within minutes, not hours.

💡 Freeze the Card as Well

If a card was used or exposed, freeze or cancel it in your banking app straight away, then talk to your bank about a replacement. Freezing the card stops any further charges while you sort out the recall and any chargeback.

📞 Who to Report a Scam To

Reporting a scam does two things: it starts the process of trying to recover your money, and it helps the agencies warn and protect other New Zealanders. Report to your bank first, then to the relevant agencies below. You can report to more than one, and it is worth doing so.

Key Contacts

Who	When to use them	How to reach them
Your bank	Any scam involving your money or card, first and fastest	The number on your card or in your app, most run a 24/7 scam line
NZ Police	You have lost money or property to a scam	Call 105, or report online. Call 111 if you are in immediate danger
Netsafe	Free advice and support for online scams and harm	Report online at netsafe.org.nz, call 0508 638 723, or text Netsafe to 4282
NCSC (Own Your Online)	Phishing, hacked accounts and other cyber security issues	Report at ncsc.govt.nz/report, advice at ownyouronline.govt.nz, phone 0800 114 115
Dept of Internal Affairs	Scam and spam texts and emails	Forward scam texts to 7726, report spam at dia.govt.nz
Financial Markets Authority	Investment, crypto and financial-product scams	Report at fma.govt.nz and check its warnings list
Banking Ombudsman	Your bank will not help and you have reached deadlock	Free service, call 0800 805 950 or go to bankomb.org.nz

💡 CERT NZ Is Now the NCSC

CERT NZ, the agency many people knew for reporting online security incidents, completed its move into the National Cyber Security Centre (NCSC) at the end of 2024. Reports now go through ncsc.govt.nz/report, and Own Your Online (ownyouronline.govt.nz) is the NCSC's plain-language advice site for individuals and small businesses.

Reporting to Your Bank and What to Expect

Your bank is both your fastest route to recovery and, in some cases, a source of reimbursement. From 30 November 2025 New Zealand's banks operate under an updated Code of Banking Practice with five new scam protection commitments. These are designed to warn and protect you before money leaves your account, and they change what you can reasonably expect.

The five commitments require member banks to:

Offer confirmation of payee: a check that the account name you enter matches the account number before you pay, which finished rolling out across the banks in April 2025.
Send pre-transaction warnings: targeted warnings based on the payment purpose, for example higher-risk investment payments.
Identify high-risk or unusual activity: the ability to block or delay payments that look like a scam.
Run a 24/7 reporting channel: so you can report a suspected scam at any hour and have your accounts protected.
Share information to help disrupt scammers and recover funds.

                Reimbursement is possible, but not automatic. Where a bank fails to meet these commitments, it will compensate eligible customers for all or part of an authorised payment scam loss, up to a combined total of $500,000, available up to three times during your banking relationship. Whether you are reimbursed also depends on whether you took reasonable care when making the payment.
            

⚠️ Two Types of Loss Are Treated Differently

An unauthorised transaction is one you did not make or approve, for example a payment made after your banking was accessed without your permission. Banks have long compensated eligible customers for these. An authorised payment scam is one where you were tricked into approving the payment yourself. These are the newer focus of the Code, and reimbursement is judged case by case against the bank's commitments and the care you took. Some situations, such as buying goods that never arrive from an online marketplace or social media seller, may not be covered.

💳 The Ways Money Can Be Recovered

There are a few different recovery routes, and which one applies depends on how you paid. Understanding them helps you push the right buttons quickly.

1. Recalling a Bank Transfer

If you paid by bank transfer, your bank can try to recall the payment by contacting the receiving bank and asking them to freeze and return the funds. This only works while the money is still sitting in the scammer's account, which is often a very short window. Report it the moment you realise, and give your bank the exact amount, date, time and the account number you paid.

2. Chargebacks for Card Payments

If you paid by credit or debit card, you may be able to request a chargeback. A chargeback reverses a card transaction through the card scheme, such as Visa or Mastercard, and returns the money to your account. Chargebacks are useful when goods or services were never delivered, or when your card was used without authority. They apply to card payments only, not to bank transfers or cash, and there are time limits, so ask your bank about a chargeback as soon as possible.

Which recovery route fits how you paid?

Paid by bank transfer: ask your bank to attempt a recall, fast

Paid by credit or debit card: ask your bank about a chargeback

Banking accessed without your approval: this is an unauthorised transaction, ask about reimbursement

Paid by crypto, gift card or cash: recovery is usually very difficult, report it anyway

3. Reimbursement Under the Code of Banking Practice

As covered in the previous section, if your bank did not meet its scam protection commitments and you took reasonable care, you may be reimbursed for an authorised payment scam loss up to a combined total of $500,000. Ask your bank directly whether your case qualifies, and ask them to explain their decision in writing.

4. The Banking Ombudsman If Your Bank Says No

If your bank declines to help and you believe it got the decision wrong, you can escalate to the Banking Ombudsman Scheme. The Ombudsman is independent of banks, customers and government, and the service is free. It will never ask you for a payment, so any message claiming to be the Ombudsman and asking for money is itself a scam.

Before the Ombudsman can look at your complaint, you must first give your bank a chance to resolve it and reach a deadlock, meaning the bank has issued its final response or has not resolved the matter after you complained. If you are still unhappy, contact the Ombudsman on 0800 805 950 or through bankomb.org.nz.

💡 Keep a Paper Trail

The Ombudsman and your bank will both want dates, amounts, and copies of your messages with the scammer and the bank. Keep everything in one folder from day one. A clear timeline of when you paid, when you reported it, and what each party said makes your case much stronger.

5. Investment and Crypto Scams: Why Recovery Is Rare

Money lost to investment and cryptocurrency scams is the hardest of all to recover. These scams often run for weeks or months, and by the time you realise, the funds have been converted into crypto and moved across borders through wallets that cannot be traced or reversed. Unlike a card payment, a crypto transfer has no chargeback and no central operator to call. There is no guarantee of getting anything back.

Still report it, to the FMA, to Police on 105 and to your bank, because reports help investigators map the networks behind these scams and may help others. Before you ever invest, check the FMA warnings list and confirm the firm is licensed. If an opportunity promises high returns with little or no risk, or pressures you to act now, treat it as a scam.

⚠️ Beware the Recovery Scam

People who have already lost money are frequently targeted a second time by "recovery agents" who promise to get the funds back for an upfront fee or a share of the recovery. Sometimes they even claim to be from a bank, a law firm or a government agency. No legitimate agency charges you a fee to recover scammed money. If someone contacts you offering to recover your loss for a payment, it is another scam.

🕵️ Common Scam Types and Protecting Others

Knowing how the main scams work helps you spot them and warn family and friends. These are among the most common types reported in New Zealand.

Invoice and Business Email Compromise (BEC) Scams

Scammers hack or spoof an email account, then send a genuine-looking invoice with the bank account number changed to theirs. It often hits when you are paying a tradie, a supplier, a deposit or a property settlement. The wording and logo look right, only the account number is wrong. Always confirm bank details by phoning the business on a known number before paying a new or changed account, and use confirmation of payee to check the name matches.

Romance Scams

These build a relationship over weeks or months on dating apps or social media, then engineer a crisis or an investment opportunity that needs your money. The person is not real, and the emotional pull is the weapon. Be wary of anyone you have not met in person who asks for money, gift cards or crypto, or who steers the conversation towards an investment platform.

Phishing and Smishing

Phishing emails and phishing texts (smishing) pretend to be your bank, a courier, Inland Revenue or a well-known company, and push you to click a link and enter your login or card details on a fake site. Phishing is consistently one of the most reported scam types in New Zealand. Do not click links in unexpected messages. Go to the organisation's website yourself, and forward scam texts to 7726.

Remote-Access Scams

A caller claims to be from your bank, a telco or a tech company, says there is a problem, and talks you into installing remote-access software so they can "fix" it or "protect" your money. Once connected, they can see your screen and move your money. No genuine organisation will ask to take control of your device or move your funds to a safe account. Hang up and call back on a number you find yourself.

💡 Protecting the People Around You

Report every scam, even if you did not lose money, because reports help the agencies warn others. Talk openly with older relatives and anyone less confident online, and agree a simple rule: pause and check with a trusted person before making any unexpected payment. Turn on two-factor authentication, use confirmation of payee, and never rush a payment because someone says it is urgent.

                Remember: Urgency and secrecy are the two biggest red flags. Genuine organisations are happy for you to hang up, verify, and call back. Scammers are not.
            

🔢 Real-World Examples

These four scenarios show how the steps in this guide play out in practice. The people are illustrative and the figures are examples, but the scams and the recovery routes reflect what happens in New Zealand.

Priya - Hijacked Builder Invoice ($8,500)

Situation: Priya was renovating and received an emailed invoice from her builder for an $8,500 progress payment. The email looked normal, but scammers had compromised the builder's inbox and changed the bank account number. She paid it by transfer.

What she did:

The builder phoned asking where the payment was, and Priya realised the account was wrong

Within 20 minutes she rang her bank's 24/7 scam line and asked for a recall

Her bank contacted the receiving bank, which froze the remaining funds

She reported the email compromise to the NCSC at ncsc.govt.nz/report

Because she acted fast, $6,200 was still in the account and was returned

💡 What Would Have Prevented It

Confirmation of payee would have flagged that the account name did not match the builder's business name. A quick phone call to the builder on a known number to confirm the account before paying would also have stopped the loss. When bank details change on an invoice, always verify by phone.

David - Romance Then Crypto Investment ($40,000)

Situation: David met someone on a dating app who, after several weeks, introduced him to a "guaranteed" crypto trading platform. Over three months he transferred $40,000, buying crypto through an exchange and sending it to wallets the scammer controlled. The dashboard showed growing profits, but he could never withdraw.

What he did:

When asked for a "tax payment" to release his profits, David realised it was a scam

He reported it to his bank, to Police on 105, and to the FMA at fma.govt.nz

He also reported it to Netsafe for support and advice

The crypto had already moved offshore, and none of the $40,000 could be recovered

⚠️ Then a Second Scam Arrived

Weeks later David was contacted by a "fund recovery specialist" who promised to get his money back for a $2,500 fee. This was a recovery scam targeting him because he had already lost money. He did not pay, and reported the approach. No genuine agency charges a fee to recover scammed funds.

Margaret - Remote-Access Bank Impersonation ($12,000)

Situation: Margaret got a call from someone claiming to be her bank's fraud team. They said her account was under attack and talked her into installing remote-access software to "secure" it. While connected, they moved $12,000 out of her account.

What she did:

As soon as the call ended she felt uneasy and phoned her bank on the number on her card

The bank froze her accounts and began trying to recall the payment

She uninstalled the software and changed her passwords and PINs

The bank first declined to cover the loss, so she complained formally, then to the Banking Ombudsman

The Ombudsman reviewed the bank's warnings and process, and a partial reimbursement was agreed

💡 The Deadlock Rule

Margaret could only take her case to the Banking Ombudsman after giving her bank the chance to resolve it and reaching deadlock. Her paper trail, showing exactly when she was called, when she reported it, and what the bank said, made the difference in the review.

Tama - Phishing Text and a Chargeback ($430)

Situation: Tama received a text saying a parcel could not be delivered and he needed to pay a small redelivery fee. He clicked the link and entered his debit card details on a convincing fake site. Two charges totalling $430 appeared the next day.

What he did:

He froze the card in his banking app to stop further charges

He rang his bank and asked about a chargeback on the two card transactions

He forwarded the scam text to 7726 and reported it to the NCSC

He changed his passwords and turned on two-factor authentication

Because he paid by card, the bank reversed the $430 through a chargeback

                    Card payments have a safety net: The chargeback route only exists because Tama paid by card. Had he paid by bank transfer, recovery would have depended on catching the funds before they were withdrawn.
                

Related Guides

Keep learning with these guides on staying safe and getting help:

Avoiding Scams: how to spot and stop scams before they cost you
Investment Scams: the warning signs of fake investments and crypto schemes
Bank Account Security: passwords, two-factor authentication and safer banking
Scams Targeting Young Kiwis: the scams aimed at students and first jobs

📚 Sources

Verified against official New Zealand sources in July 2026: Consumer Protection (consumerprotection.govt.nz, Scamwatch), Netsafe (netsafe.org.nz), the National Cyber Security Centre and Own Your Online (ncsc.govt.nz and ownyouronline.govt.nz), NZ Police (police.govt.nz, 105), the Department of Internal Affairs (dia.govt.nz, text scams to 7726), the New Zealand Banking Association Code of Banking Practice (nzba.org.nz, effective 30 November 2025), and the Banking Ombudsman Scheme (bankomb.org.nz).

🎯 Test Your Knowledge

Complete this 10-question quiz to check what you have learned about recovering money after a scam

1. What is the single most important first step after you realise you have been scammed?

Contact your bank immediately to try to stop or recall the payment

Wait a few days to see if the money comes back on its own

Reply to the scammer and ask for a refund

Post about it on social media before doing anything else

2. Which number do you call to report a scam to NZ Police when you have lost money but are not in danger?

111

105

0800 105 105

123

3. What is the phone number for the Netsafe scam and online safety helpline?

0800 805 950

0800 114 115

0508 638 723

105

4. Under the updated Code of Banking Practice, what is the maximum a bank may reimburse for authorised payment scam losses?

Up to $10,000 per year

Up to a combined total of $500,000

There is no limit and all scam losses are always refunded

Only unauthorised transactions are ever refunded

5. What does the confirmation of payee service let you do?

Check the payee name matches the account number before you pay

Confirm your own identity with a one-time code

Split a large payment into smaller amounts

Reverse a payment after it has been sent

6. A chargeback can be used to reverse which kind of payment?

Bank transfers between accounts

Credit and debit card payments

Cash withdrawals from an ATM

Cryptocurrency transfers

7. If your bank refuses to help and you have reached deadlock, which free service can you escalate to?

The Financial Markets Authority

Netsafe

The Banking Ombudsman

The Commerce Commission

8. How do you report a scam text message to the Department of Internal Affairs?

Forward the text to 105

Forward the text to 7726

Reply STOP to the scammer

Forward the text to 0508 638 723

9. Why is money lost to investment and crypto scams so hard to recover?

The money is quickly moved overseas or converted into cryptocurrency

Banks refuse to investigate investment scams

The Ombudsman does not accept these complaints

Police always recover investment losses within a week

10. Someone contacts you promising to get your lost money back for an upfront fee. What is this?

A confirmation of payee check

A legitimate government refund

A recovery scam

A standard chargeback

🛡️ Read: Avoiding Scams

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