TotalMoney for businesses

Potentially earn more interest by pooling up to ten accounts1

Innovation excellence - TotalMoney for Business
  • Get up to ten accounts and unlimited transactions for $10 a month1,2 service fees apply
  • Potentially earn a higher interest rate based on your total credit balance
  • Set up accounts for your GST, tax, bills, savings and more

TotalMoney is a unique way of banking for small businesses that lets you group separate bank accounts through pooling, to potentially earn a higher interest rate for all the accounts.

More detail

TotalMoney is for small businesses with an annual turnover of less than $1 million that are not managed by BNZ Partners.3

It's a unique way of banking that lets you set up completely separate accounts to suit your business, but keep them working together as one. You can group your accounts to potentially earn a higher interest rate (pooling) or to pay less interest on a TotalMoney business loan (offsetting). It's up to you.

Control of your finances with ease

TotalMoney makes it easy to manage your money with separate accounts for your main business expenses and saving goals. You can set aside GST and income/provisional tax as you go, allocate money to pay suppliers and monthly bills, and keep accounts for things like petty cash, drawings and wages.

Unlimited transactions for just $10 a month

Whether you choose to have one TotalMoney account or ten, you'll pay just $10 a month for unlimited transactions across all your accounts. You'll also get unlimited text and email alerts, and you can set up or amend Automatic payments and Bill Payments online for no extra charge. There are also no cash handling fees on TotalMoney accounts. (Service and facility fees apply)2

Pool to earn a higher interest rate

If you choose to pool some or all of your TotalMoney accounts, we will treat the balance as one big total which gives you the potential to earn a higher interest rate for pooled accounts.5

Offset a TotalMoney loan to get debt free faster

With a TotalMoney business variable loan that is secured by your residential property, you can use the money in some or all of your TotalMoney accounts to offset the outstanding balance of your loan.6 Each month we simply add up the credit balances of your accounts and offset this against the outstanding balance of your loan, reducing your effective interest rate. So while your repayments stay the same, you have less interest to pay, helping you to pay off your loan faster. And with a TotalMoney business loan you can also make additional lump-sum repayments whenever you choose.

Manage your accounts online

TotalMoney gives you quick and easy control of pooling, offsetting and more. At any time, through BNZ Personal Internet Banking, you can:

  • Open new TotalMoney accounts and give them names
  • Change which accounts are to be used for pooling and which are for offsetting
  • Change which loan receives offsetting before your other TotalMoney loans, if you have more than one
  • Change the account that you want the monthly fee to be paid from
  • Create and modify text and email alerts
  • View online statements
  • Set up or amend automatic and bill payments

Full-service business accounts

TotalMoney accounts come with a wide range of benefits to help you manage your business finances. These include:

  • The option to apply for a business overdraft8
  • The ability to receive direct credits, such as your pay or other regular forms of income
  • Easy access to your money through internet banking, mobile apps, telephone banking, ATMs and BNZ stores nationwide
  • Paperless banking, with an online statement provided each month showing all transactions
  Rates and fees
Interest rates
Credit Balance Interest Rates
Current % p.a
Effective 14 March 2011		 View rates here ($0 - $99,999)

View rates here ($100,000 +)
Monthly3 base or account management fee $10.00 Charged to one TotalMoney account.
Fees
No account fees apply to the following: No charges for deposits to the account4, staff assisted transactions, BNZ ATM, BNZ Internet and Electronic Transactions, Automatic Payments and cheques written7 each month (non-BNZ ATM transactions not included). It also includes the set up and amendment of Automatic Payments and Bill Payments using Internet Banking. No cash handling fees. Other Service Fees still apply.
Facility fees
Overdraft establishment fee
(Payable on establishment of facility)		 From $100
Overdraft facility fee8 (Payable monthly in arrears) 0.15% per month ($5 minimum)

Need some help?

Apply online nowFind a business specialist 0800 269 763

Small Print

  1. Account opening and lending criteria apply.
  2. Fees subject to change. Fees are charged on the last business day of each calendar month and are based on the period between the last business day of the previous calendar month and the second to last business day of the current month, inclusive.
  3. TotalMoney is not available for partnerships.
  4. Fees for Telegraphic Transfers still apply
  5. Maximum of 10 accounts in a TotalMoney group. Establishment or redocumentation fees apply. A low equity or low doc interest rate premium may apply.
  6. Maximum of 9 loans in a TotalMoney group can be offset.
  7. Government stamp duty charges for cheques apply.
  8. Lending criteria, overdraft establishment fee and an overdraft facility fee apply.

Full details, TotalMoney terms and conditions, current Disclosure Statement and Qualifying Financial Entity Disclosure Statement may also be obtained free of charge from a BNZ store.