End of year interest statements???

[Glen]

Does any body else find it difficult to receive end of year interest statements from your various lenders?

Every year I find it a complete hassle to try and finish my returns because of the lenders not sending out statements of interest paid.

What do you suggest is the best way of getting these statements?
How can I get this information easier?

....AND,....Why aren't these interest statements just sent out automatically ( considering that we're all gonna be asking for them anyway) without me even having to speak to some clown in a call center, on a tropical island half way across the pacific?

[BusyLizzy]

NZ Home Loans and Sovereign send out summary statements automatically every year in a timely fashion (ie in April). Yay for them!

ASB refuse to send them to me. Every year I have to phone them up and ask for them. I wouldn't mind except that the ID process I have to go through with ASB means it is near impossible to prove who I am before they will send them to me. (For goodness sakes, how on earth would I know how much my opening balance was when I opened the account 5 years ago? FAIL ID QN #1.

Then they ask me which branch opened my account. I know it was Ponsonby. They tell me it was Henderson. I have never been to ASB in Henderson, or anywhere out west!!) FAIL ID QN #2.

Then they ask me about a deposit I made back on Apr 23. The only deposits that go into the account are on the 15th and end of month. I'm looking at my online account as I tell them this. They say there was one on 23rd. FAIL ID QN #3.

Grrrrrrrrrrr...

Anyhow, I feel your pain Glen. Not sure what the answer is though.

[Glen]

NZ Home Loans and Sovereign send out summary statements automatically every year in a timely fashion (ie in April). Yay for them!
.

Yes, I agree, same here and all good.

ASB refuse to send them to me. Every year I have to phone them up and ask for them. I wouldn't mind except that the ID process I have to go through with ASB means it is near impossible to prove who I am before they will send them to me. (For goodness sakes, how on earth would I know how much my opening balance was when I opened the account 5 years ago? FAIL ID QN #1.
.

....and thats EXCACTLY whats its been like for me every year!!!

Finally just got one in the post from Westpac though after talking to about 3 different staff, and having to divulge enough information to sink a battleship, and having to prove my heritage through 20 generations, and take a lie detector test!!!!!!!

Just send the ******* statement to me for ***** sake,,,,,,,its not as if it's vital information for anyone else???!!!!!

OOOHHHHH,....LOOK,....Glen paid $50K here and $30K here and $120K here in interest......OOOOHHHHH....GUESS WHAT....Who gives a fat rats!!!!.....just post me my ******** statement you *********!!!!!

JEEZ they are ******* ROBOTS!!!!!!

[flyernzl]

No problem with Kiwibank or AMP, they just come.

[essence]

I'm with ASB for most of my banking. I ring up local branch, tell them what I want, how I want it presented, 2-3 days later I've got it.

No hassles, just service. Great.

[Perry]

Obviously very branch-related, if some
are getting great service and others
not, all from the same bank.
.

[Bluekiwi]

Okay probably a silly question, but that doesnt usually stop me.

Do you need these for Interest only loans ?

[ambitious]

Far out....I get them, but lose them with all my mail that stacks up....I request a breakout at tax return time....and get everything in soft copy, PDF, they even complete an excel template that I send them....how awesome is that....ASB, BNZ mostly, but have got emailed PDFs from ANZ

[graemeh]

Okay probably a silly question, but that doesnt usually stop me.

Do you need these for Interest only loans ?

You don't need them at all.

All the information is on your bank statements.

I only use the annual summary as a quick way to prove that the spreadsheet I prepare for my accountant is correct.

It's more of a problem with Interest Only loans as mistakes are harder to pick up. If you make a mistake on a P&I loan it's pretty obvious because the end of year balance will be wrong.

[Austrokiwi]

I'm with ASB for most of my banking. I ring up local branch, tell them what I want, how I want it presented, 2-3 days later I've got it.

No hassles, just service. Great.

BNZ provide mine electronically as an integral part of internet banking.

[spurner]

BNZ send a half-year statement out after 30 September, then a full year loan statement out shortly after 31 March. Never had any issues or had to request them manually.

As Austro mentioned they are also available online if your loan account is linked to your IB login, although I've never checked how far back the records go online.

[Austrokiwi]

As Austro mentioned they are also available online if your loan account is linked to your IB login, although I've never checked how far back the records go online.

There is where my only frustration lies: My on-line statements go back at least five years...........however to find them I have to use a search facility that seems to want such specific date information that if I am out by one day the search returns no records.