Public notices

Rapid Save Interest Rate Changes

With effect from 30 March 2012, the following Rapid Save account interest rates will apply for new and existing customers.

Interest Rate p.a.*

Base rate       $0+   0.25%
Bonus Rate   $0+   4.25%
Maximum       $0+   4.50%
Potential Yield

Personal OnCall Interest Rate Changes

With effect from 30 March 2012, the following Personal OnCall account interest rate will apply for new and existing customers.

Interest Rate p.a.*

$0+   3.15%

* Interest rates are subject to change. Full details, Standard Terms and Conditions, a copy of our current disclosure statement and Qualifying Financial Entity Disclosure Statement may be obtained from any BNZ Store or viewed on our website, bnz.co.nz.

Effective from 30 March 2012, BNZ will be:

• increasing the fee that applies to unarranged overdrafts on BNZ's personal transaction and savings accounts from $5 per month to $10 per month (the increase does not apply to Campus Pack, Graduate Pack and Dynamic Money accounts); and
• increasing the overdrawn monetary threshold for when the fee is charged on these accounts to $20.01 overdrawn.

The fee is currently referred to as an "Overdraft Facility Fee" or an "Overdrawn Savings Account Fee", but will be renamed the "Unarranged Overdraft Fee" from the effective date. The fee that applies to arranged overdraft facilities will not change and will continue to be called the "Overdraft Facility Fee".

A number of changes are being made to BNZ's Terms and Conditions for Internet Banking for Business (the IB4B Ts&Cs). The changes to the IB4B Ts&Cs will take effect for existing Internet Banking for Business customers on 27 November 2011. View updated IB4B Ts&Cs or obtain by calling BNZ on 0800 275 269. A summary of the changes is set out below.

Changes have been made to the following IB4B Ts&Cs clauses:

Clause 7 (Transaction Limits and Daily Limits): Amendment of section title to read "Transaction Limits, Daily Limits and Notifications".

New Clause 7.5 (Notifications): Insertion of a new function called Notifications where Internet Banking for Business customers can register to receive certain email notifications for Nominated Accounts.

Clause 14 (Meaning of words) Insertion of the new term "Notifications".

Various other minor amendments have been made to the IB4B Ts&Cs.

Some changes are being made to Bank of New Zealand credit card terms and conditions and will be effective as at 1 August 2011.

For all BNZ issued credit cards including Fly Buys Visa and Advanced and Anytime Personal Loans

In Section 12 (and section 21.1 of the Advanced and Anytime Personal Loan Terms and Conditions), your obligation to notify us of any transaction discrepancy is reducing from 60 days to 30 days.

For BNZ and GlobalPlus Standard and Gold, Fly Buys Visa, BNZ Platinum and BNZ Platinum Limited Edition:

Section 4 will be amended so that credit interest will no longer be paid on credit card accounts.

For BNZ and GlobalPlus Standard and Gold and All Blacks MasterCard:

The reference to Cirrus Symbol in Section 2.13 has been removed. Exact wording of these changes and other minor changes to the terms and conditions can be found below:

GlobalPlus Standard and Gold

• Section 2.11 Insert the words "or decrease" after "increase" in the first sentence.
• Section 2.11 Replace the paragraph "We may increase you credit limit …… subject to minimum limits set by Visa, American Express or MasterCard" to "We may at times offer to increase your credit limit. You will need to accept the offer before it can be changed"
• Section 2.13 removal of the words "or Cirrus Symbol"
• Section 4.3 delete and replace with "Credit Interest: Interest will not be paid on credit balances in your credit card account"
• Section 6.2 reword first sentence to "Additional/Joint Accounts: An additional fee may be charged for additional/joint accounts"
• Section 6.8 (Dishonour Fee) remove section
• Section 6.11 (Airpoint Programme Joining Fee) remove section
• Section 9.3 Amend the following sentence "Your liability for any loss before notifying us will not exceed $50 unless you have:" to "You will not be liable for any loss before notifying us unless you have:"
• Section 12.1 Change "within sixty (60) days" to "within thirty (30) days"

GlobalPlus Platinum

• Section 2.11 Insert the words "or decrease" after "increase" in the first sentence.
• Section 2.11 Replace the paragraph "We may increase you credit limit …… subject to minimum limits set by Visa" to "We may at times offer to increase your credit limit. You will need to accept the offer before it can be changed"
• Section 6.2 Replace existing wording with "Additional/joint account fee: There is no additional fee for additional/joint accounts"
• Section 6.8 (Dishonour Fee) remove section
• Section 6.10 (Airpoint Programme Joining Fee) remove section
• Section 9.3 Amend the following sentence "Your liability for any loss before notifying us will not exceed $50 unless you have:" to "You will not be liable for any loss before notifying us unless you have:"
• Section 12.1 Change "within sixty (60) days" to "within thirty (30) days"

GlobalPlus Business

• Section 2.11 Insert the words "or decrease" after "increase" in the first sentence.
• Section 2.11 Replace the paragraph "We may increase you credit limit …… subject to minimum limits set by Visa" to "We may at times offer to increase your credit limit. You will need to accept the offer before it can be changed"
• Section 6.2 reword first sentence to "Additional/Joint Accounts: An additional fee may be charged for additional/joint accounts"
• Section 6.8 (Dishonour Fee) remove section
• Section 6.11 (Airpoint Programme Joining Fee) remove section
• Section 9.3 Amend the following sentence "Your liability for any loss before notifying us will not exceed $50 unless you have:" to "You will not be liable for any loss before notifying us unless you have:"
• Section 12.1 Change "within sixty (60) days" to "within thirty (30) days"

All Blacks MasterCard

• Section 2.11 Insert the words "or decrease" after "increase" in the first sentence.
• Section 2.11 Replace the paragraph "We may increase you credit limit …… subject to minimum limits set by MasterCard" to "We may at times offer to increase your credit limit. You will need to accept the offer before it can be changed"
• Section 2.13 removal of the words "or Cirrus Symbol"
• Section 6.2 reword first sentence to "Additional/Joint Accounts: An additional fee may be charged for additional/joint accounts"
• Section 6.7 (Dishonour Fee) remove section
• Section 9.3 Amend the following sentence "Your liability for any loss before notifying us will not exceed $50 unless you have:" to "You will not be liable for any loss before notifying us unless you have:"
• Section 12.1 Change "within 60 days" to "within thirty (30) days"

BNZ Standard and Gold

• Section 2.11 Insert the words "or decrease" after "increase" in the first sentence.
• Section 2.11 Replace the paragraph "We may increase you credit limit …… subject to minimum limits set by Visa, American Express or MasterCard" to "We may at times offer to increase your credit limit. You will need to accept the offer before it can be changed"
• Section 1.6 Remove the words "Fly Buys Visa" from the definition of "Card"
• Section 2.13 removal of the words "or Cirrus Symbol"
• Section 4.3 delete and replace with "Credit Interest: Interest will not be paid on credit balances in your credit card account"
• Section 6.2 reword first sentence to "Additional/Joint Accounts: An additional fee may be charged for additional/joint accounts"
• Section 6.8 (Dishonour Fee) remove section
• Section 9.3 Amend the following sentence "Your liability for any loss before notifying us will not exceed $50 unless you have:" to "You will not be liable for any loss before notifying us unless you have:"
• Section 12.1 Change "within 60 days" to "within thirty (30) days"

BNZ Platinum

• Section 2.12 Insert the words "or decrease" after "increase" in the first sentence.
• Section 2.12 Replace the paragraph "We may increase you credit limit …… subject to minimum limits set by Visa" to "We may at times offer to increase your credit limit. You will need to accept the offer before it can be changed"
• Section 4.3 delete and replace with "Credit Interest: Interest will not be paid on credit balances in your credit card account"
• Section 6.8 (Dishonour Fee) remove section
• Section 9.3 Amend the following sentence "Your liability for any loss before notifying us will not exceed $50 unless you have:" to "You will not be liable for any loss before notifying us unless you have:"
• Section 12.1 Change "within 60 days" to "within thirty (30) days"

BNZ Limited Edition Platinum Visa

• Section 2.12 Insert the words "or decrease" after "increase" in the first sentence.
• Section 2.12 Replace the paragraph "We may increase you credit limit …… subject to minimum limits set by Visa" to "We may at times offer to increase your credit limit. You will need to accept the offer before it can be changed"
• Section 4.3 delete and replace with "Credit Interest: Interest will not be paid on credit balances in your credit card account"
• Section 6.7 (Dishonour Fee) remove section
• Section 9.3 Amend the following sentence "Your liability for any loss before notifying us will not exceed $50 unless you have:" to "You will not be liable for any loss before notifying us unless you have:"
• Section 12.1 Change "within 60 days" to "within thirty (30) days"

BNZ Advanced and Anytime Personal Loans

• Section 16.6 (Dishonour Fee) remove section
• Section 18.3 Amend the following sentence "Your liability for any loss before notifying us will not exceed $50 unless you have:" to "You will not be liable for any loss before notifying us unless you have:"
• Section 21.1 Change "within 60 days" to "within thirty (30) days"

Fly Buys Visa

• Section 2.11 Insert the words "or decrease" after "increase" in the first sentence.
• Section 2.11 Replace the paragraph "We may increase you credit limit …… subject to minimum limits set by Visa" to "We may at times offer to increase your credit limit. You will need to accept the offer before it can be changed"
• Section 2.14 Change "see our "Current Charges" flyer or visit bnz.co.nz and click through to the Rates and Fees page" to "visit flybuysvisa.co.nz and click through to the rates and Fees page"
• Section 4.3 delete and replace with "Credit Interest: Interest will not be paid on credit balances in your credit card account"
• Section 6.2 reword first sentence to "Additional/Joint Accounts: An additional fee may be charged for additional/joint accounts"
• Section 6.8 (Dishonour Fee) remove section
• Section 9.3 Amend the following sentence "Your liability for any loss before notifying us will be nil unless you have:" to "You will not be liable for any loss before notifying us unless you have:"
• Section 12.1 Change "within sixty (60) days" to "within thirty (30) days"

Please be advised that Bank of New Zealand ("BNZ") has varied its Internet Banking Terms and Conditions (the "Ts&Cs"). The changes to the Ts&Cs take effect on 16 June 2011. View updated IB4B Ts&Cs on this website or obtain by calling BNZ on 0800 999 269. A summary of the changes to the Ts&Cs is set out below.

The following material amendments have been made to the Ts&Cs:

Clause 1.6: The term "Mobile Portal" has been added to the Ts&Cs to reflect that customers can now access Internet Banking via a mobile phone or other portable electronic device. The term "Online Portal" has been added to differentiate the mode of electronically accessing the Service otherwise than via the Mobile Portal.

Clause 1.6: The terms "NetGuard" and "NetGuard Card" have been replaced with the term "NetGuard Device".

Clause 1.6: The definition of "Service" has been amended to include reference to both the Mobile Portal and the Online Portal.

Clause 2.2: Secure messaging via the Service has been added as a form of communication from BNZ to the Account Owner.

Clause 6.1: The obligations of the Account Owner have been broadened to include agreeing to:

• take reasonable care to ensure that their NetGuard Device and any details relating to their NetGuard Device are not disclosed, in particular, ensuring that they are not observed while entering their password or NetGuard Device details on their mobile phone or other portable electronic device;
• take reasonable care to protect their mobile phone or other portable electronic device that they use to access the Service via the Mobile Portal, from loss or theft;
• update to the latest version of software that they have used to access the Mobile Portal, once it becomes available;
• Check account records carefully and immediately advise BNZ of any error or discrepancy or unauthorised transaction;
• immediately notify BNZ if details related to their NetGuard Device have become or may be known to anyone else;
• immediately notify BNZ if their NetGuard Device is lost or stolen; and
• immediately notify BNZ if their mobile phone or other portable electronic device that they use to access the Service via the Mobile Portal, is lost or stolen.

Clause 6.2: The obligations of the Account Owner have been broadened to include agreeing not to:

• disclose any details related to their NetGuard Device to any other person;
• leave their mobile phone or other portable electronic device that they use to access the Service in a location where it can be accessed by other people;
• leave their mobile phone, or other portable electronic device unattended when logged into the Service; and
• download applications from untrusted or unknown sources.

Clause 8.2: The time by which Bill Payment instructions must be received in order to be processed the same Banking Business Day has been changed to 11.45 p.m. unless made from a credit card.

Clause 9.5 (previously clause 9.2): The Account Owner must immediately advise BNZ of any unauthorised transactions or activity on their Account that they become aware of through Alerts.

Clause 10.2: BNZ may, at its discretion, require the Account Owner to use a different form of NetGuard Device.

Clause 11.1: The list of costs that the Account Owner is responsible for (previously set out in clause 9.14) has been expanded to specifically include telecommunication and internet service provider costs associated with operating the Account Owner's computer, mobile phone or other portable electronic device, web browser and email services.

Clause 11.3: This clause (previously clause 11.2) has been amended to state that if the Account Owner has immediately reported the actual or possible disclosure of their password or details relating to their NetGuard Device, or the loss or theft of their NetGuard Device or mobile phone or other electronic device that they use to access the Service via the Mobile Portal, they will not be liable for any loss occurring after such notification, unless the Account Owner has acted fraudulently or negligently or has contributed to such disclosure or unauthorised access by not following the security information and advice contained in the Ts&Cs and as provided by BNZ on its website.

Clause 12.1: The ways in which BNZ can provide notice of any amendment to the Ts&Cs have been expanded to include secure messaging via the Service. Secure messaging is accessible only via the Online Portal, so it is recommended that Account Owners access the Service via the Online Portal from time to time.

Clause 12.2: BNZ can change the user requirements, functionality, application and operating system specifications for, or the format or content of, or the means of accessing, the Service at any time without prior notice to Account Owners, whether generally or in relation to a user or class of users or an account or class of accounts.

Clause 19.1: The list of matters in connection with which loss, damage, cost or expense might arise (where BNZ will not be liable and accepts no responsibility) has been expanded to include:

• Any fault, error or defect in design or engineering of any software or software application that provides access to the Service;
• Any change or alteration to the functionality of the Service, or any software or software application that provides access to the Service; and
• Any diminished level of functionality that arises from an Account Owner using the Service in a particular way.

Various other minor amendments have been made to the Ts&Cs.