Two people have appeared in court and another three have been arrested over phone scams targeting elderly people.

Police have received multiple reports of scammers posing as workers from utility companies and banks, to gain access to people's personal information.

In the last week, at least two people in Queenstown and one person in Christchurch have had significant amounts of money stolen.

A police spokesperson has confirmed a 29-year-old woman and a 30-year-old woman have appeared in court over alleged scamming activities.

The spokesperson said three other people have been arrested, but details about those people can't be provided.

Police said they don't know how many people have been affected by the scams because investigations are ongoing.