We recently set up a BNZ Total Money loan. Looking at the figures for the first month I noted that no offset had been applied! The online summary does not have details - initial loan balance, average account balance/s offset and residual loan amount so it took some effort to check the calculations. I have taken it up with the bank and wait for the correction.
My concern is that most of us accept bank workings and there may be many accounts with erroneous calculations!
Can forum members having offset accounts respond with their experience?