TotalMoney - the total concept

Group your accounts to potentially earn more interest or reduce the interest on your variable home loan.

  • 10 accounts for $101 (service & facility fees apply)
  • Potentially earn more interest by grouping yours, and your family's, accounts together
  • Use your savings to reduce the interest you pay on your TotalMoney home loan

More detail

TotalMoney is an innovative way to make your money work harder, for you and your family. You can form a group with your own accounts or with your parents’ or children’s accounts. Everyone keeps complete control of their own accounts, but you could get the benefits as if you are one customer. This means you could earn more interest on everyday money and savings, or pay less interest on a floating TotalMoney home loan – it’s up to you. Here’s how it works.

Choose to put all your accounts to work and pay less interest on your variable home loan3

If you have a home loan, you can use some or all of your accounts to reduce the interest you pay. That’s because, when we calculate the interest you owe4, the total amount in these accounts is subtracted off the balance of your home loan. We call it offsetting and it can make a dramatic difference to your bottom line.

Or group your accounts together and earn more interest2

When you make your accounts a TotalMoney Group, we’ll treat the money as one big total when calculating the interest rate that applies. We call it pooling. Every account earns the same competitive interest rate, but you can manage the money completely separate.

A powerful way to manage your money

Total Money allows you to have up to ten separate accounts for a single monthly fee of $10. That not only allows you to save on account fees, but it makes managing your money incredibly convenient. For instance, you can assign different accounts to different savings goals, or for certain types of transactions.

Easy access to your funds

You can access and control your TotalMoney accounts just as you normally would, with Internet Banking, phone banking, ATMs, cheque books... not to mention some special features, like text and email alerts.

  Rates and fees
Interest rates
Credit Balance Interest Rates
Current % p.a
Effective 24 August 2010		 View rates here ($0 - $99,999)

View rates here ($100,000 +)
Monthly1 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 account3, staff assisted transactions, BNZ ATM*, BNZ Internet and Electronic Transactions, Automatic Payments and cheques written4 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*. Other Service Fees still apply.
Overdraft facility fees and unarranged overdraft fees
Overdraft establishment fee $30.00 (Payable on establishment of facility)
Overdraft facility fee5 $5.00 per month (Payable monthly in arrears)
Unarranged overdraft fee5
 $10.00 per month (Payable monthly in arrears for overdrawn balances greater than $20)


Next steps

Apply online nowFind a store 0800 275 269

Small print

  1. 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 calender month and the second to last business day of the current month, inclusive. Fees subject to change.
  2. Maximum of 10 accounts in a TotalMoney group.
  3. Fees for Telegraphic Transfers will still apply.
  4. Government stamp duty charges for cheques apply.
  5. Debit interest charges also apply, minimum charge $1.00. Debit interest is calculated daily and charged to that account on your repayment date.

* Although the Telephone and Internet Banking and ATM services will normally be available 24 hours a day, maintenance of the system is required from time to time. Accordingly, certain options may not be available for an average of three hours a week. This maintenance, however, will be carried out at times which will cause the least disruption to you.

Our account opening criteria, lending criteria, establishment fee and facility fees apply. Service fees apply.

TotalMoney is not available for business purposes. Full details, TotalMoney Terms and Conditions, Disclosure Statement may also be obtained free at any BNZ store.