Changes to Master Privacy Policy
Effective from 18 December 2023
We’re making changes to our Master Privacy Policy wording to increase transparency, and accommodate changes to our business and operating environment.
The changes include:
- adding additional examples about how we collect, use, and share personal information, which may not be covered by the existing wording
- adding wording to reflect new initiatives we are part of.
If you have any questions about our Master Privacy Policy, call us on 0800 275 269 or visit a branch.
Changes to credit card travel insurance policies
Effective from 28 February 2024
We’re making changes to our credit card travel insurance policies.
Overview
Most of the changes are to improve the readability of our policies and include:
- creating more consistency across our benefit clauses
- referring to numbered clauses throughout so they’re easier to identify
- re-ordering sections so important information is upfront
- incorporating Business travel wording into our Platinum policy document for dual cardholders (customers who have both BNZ Advantage Visa Platinum and BNZ Advantage Visa Business credit cards)
- refreshing the privacy section.
Changes to eligibility
To be eligible for travel insurance, you’ll need to use your BNZ Advantage Visa Platinum or BNZ Advantage Visa Business credit card to make a payment of any amount towards your upcoming trip.
Transition
Any claims occurring on or after 28 February 2024 will be assessed against the new policy wording, unless you arranged your travel and/or started your trip before 28 February 2024. In this case, AIG will consider which policy wording gives you the best claim outcome.
If you have any questions about these updates, or any other aspect of your travel insurance, you can visit bnztravel.co.nz or call our BNZ Travel team on 0800 269 872 (8am-6pm, Monday to Friday).
Changes to personal and business fee guides
Effective from 16 November 2023
We’re making changes to our personal and business fee guides.
Personal account, service, and facility fees
The changes include:
- adding foreign currency accounts for India, Thailand, and Samoa on page 3 (previously page 1)
- clarifying that fees are charged and rebates are in the foreign currency of the foreign currency account in footnotes 1 and 2 on page 3 (previously page 1)
- adding footnote 1 to refer to the Business and Agribusiness Account and service fees guide for business and trust Rapid Save accounts on page 2 (previously page 3)
- removing the direct debit account blocking fee on page 4
- removing the following fees from the service and investigative charges on pages 6:
- stop payments direct debits fee
- certificate of balance fee
- auditors’ confirmation report fee
- reducing transaction research fees on page 6:
- online image fee from $0.50 to ‘no charge’ per item
- manual image fee from $2.00 to ‘no charge’ per item
- reducing the electronic credit recovery fee from $75.00 to $40.00 per transaction on page 7 (previously page 6)
- updating the heading ‘Definitions’ to ’Meanings of specific terms’ and removing definition of ATM on page 10 (previously page 9)
- amending ‘branch/staff assisted transactions’ to ‘staff assisted transactions’ in all instances
- correcting minor typographical errors, and making other clarifying or formatting changes.
View our current Personal account, service, and facility fees guide (PDF 126KB).
View our updated Personal account, service, and facility fees guide (PDF 126KB), effective from 16 November 2023.
Business and Agribusiness account and service fees
The changes include:
- adding Rapid Save account on page 2
- adding foreign currency accounts for India, Thailand, and Samoa on page 4
- updating the cash handling fees to clarify when fees will be charged on page 6
- removing the direct debit blocking fee on page 7
- removing the following fees from the service and investigative charges on page 8:
- stop payments direct debits fee
- certificate of balance fee
- reducing transaction research fees on page 8:
- online image fee from $0.50 to ‘no charge’ per item
- manual image fee from $2.00 to ‘no charge’ per item
- reducing the electronic credit recovery fee from $75.00 to $40.00 per transaction on page 8
- updating the heading ‘Definitions’ to ‘Meanings of specific terms’ and removing definition of Electronic transactions on page 9
- amending ‘branch/staff assisted transactions’ to ‘staff assisted transactions’ in all instances
- correcting minor typographical errors, and making other clarifying or formatting changes.
View our current Business and Agribusiness account, service, and facility fees guide (PDF 146KB).
View our updated Business and Agribusiness account, service, and facility fees guide (PDF 152KB), effective from 16 November 2023.
If you need more information, please phone 0800 275 269.
Consumer credit card interest rate and fee changes
Purchase interest rate
The purchase interest rate on our Lite Visa credit card is increasing from 12.90% p.a. to 13.50% p.a.
The increase will take effect on purchase transactions appearing on your statement ending on or after 15 November 2023.
Credit card fees
Our Lite Visa credit card fees are decreasing as indicated below.
The new fees are effective from 15 November 2023.
| Fee type | Current fees | New fees |
|---|---|---|
| Half yearly account fee | $15.00 | $5.00 |
| BNZ ATM, internet, or phone banking cash advance | $1.00 | $0.90 |
| Non-BNZ ATM cash advance | $2.00 | $0.90 |
| Staff assisted cash advance | $3.00 | $0.90 |
| Over limit fee | $2.00 | No fee |
| Voucher copy fee | $25.00 | No fee |
Our Advantage Visa Classic and Advantage Visa Platinum credit card fees are decreasing as indicated below.
The new fees are effective from 15 November 2023.
| fee type | Current fees | New fees |
|---|---|---|
| BNZ ATM, internet, or phone banking cash advance | $1.00 | $0.90 |
| Non-BNZ ATM cash advance | $2.00 | $0.90 |
| Staff assisted cash advance | $3.00 | $0.90 |
| Over limit fee | $2.00 | No fee |
| Voucher copy fee | $25.00 | No fee |
Interest rates and fees are subject to change.
If you need more information, please phone 0800 275 269.
Update to our Master Privacy Policy
Effective from 31 August 2023
As part of the annual review of our Master Privacy Policy, we’re making some minor wording changes to improve it. These updates seek to increase transparency, and accommodate changes to our business, operating environment, and the products and services we offer.
The changes include:
- removing references that no longer apply
- adding additional examples about how we use and share personal information, which may not be covered by the existing wording
- adding wording to reflect new systems and technology we’re using at BNZ.
If you have any questions about our Master Privacy Policy, call us on 0800 275 269 or visit your nearest branch.
Changes to BNZ credit card Terms and Conditions
Effective from 31 August 2023
We’re making changes to our credit card terms and conditions which include:
- amending clause 4.6.c to clarify when card details may be given to trusted persons or merchants for the purpose of making purchases or receiving funds
- amending clause 7.2.d.1 to advise redeeming any unused BNZ Rewards Points before applying to switch to our low rate card
- amending clause 10.3 to clarify when payment is received
- adding a new clause 10.4 to clarify that all payments to your Credit Card Account from overseas must comply with our sanctions requirements
- adding a new clause 10.8 to clarify a requirement to have sufficient funds when making direct debit payments
- amending clause 19.18.b.1 to advise redeeming any unused BNZ Rewards Points before cancelling your credit card or applying to switch to our low rate card.
View the current BNZ credit card terms and conditions (PDF 253KB).
View our updated BNZ credit card terms and conditions (PDF 255KB), effective from 31 August 2023.
If you need more information, please phone 0800 275 269.
Option to link cards to Rapid Save accounts removed
Effective from 23 August 2023
We’re removing the option to link your cards to a Rapid Save account. From 23 August 2023, you will no longer be able to link your cards, including your Flexi Debit, Eftpos, or credit cards, to a Rapid Save account.
If you already have a card linked to a Rapid Save account, this will remain linked until further notice. However, if you unlink a Rapid Save account from a currently linked card, you will not be able to link it again.
Change to billing month for merchants
Effective from 1 September 2023
We’re changing the billing month for merchant transactions, so that each billing month will align with a calendar month. This means that each billing month will always be from the first calendar day to the last calendar day of the month.
This change does not affect the daily settlement of payments to your account, which will continue to occur around 11pm each day, 7 days a week, 365 days a year.
The merchant service fee billing date will also remain unchanged. You’ll continue to be charged on the 15th day of the following month, unless that date falls on a non-business day, in which case your merchant service fees will be charged on the next business day.
Change to Rapid Save Eligibility
Effective from 1 August 2023
We are changing the eligibility criteria for opening a Rapid Save account, as set out below:
- Rapid Save accounts will also be available to Business and Trust customers.*
- For Business and Trust customers, the Rapid Save rate is only available for your first $2,000,000 of total deposits held with BNZ.
Terms and conditions apply. A copy of our current disclosure statement may be obtained from any BNZ branch or on our website. If you need more information, please phone 0800 275 269.
Changes to terms and conditions for Internet Banking for Business
Effective from 1 August 2023
NetGuard tokens decommissioned
NetGuard tokens are being decommissioned for Internet Banking for Business. From 1 August 2023 you will not be able to use a NetGuard token to access Internet Banking for Business.
You will need to download the BNZ Mobile Business Banking app and use mobile authentication to access your Internet Banking for Business sites. Mobile authentication works with your user ID, access number, and password to provide an extra layer of security, commonly referred to as two-step authentication, to your Internet Banking for Business on desktop. Read the Mobile authentication page for support on setting up the BNZ Mobile Business Banking app and mobile authentication.
Customers that do not migrate to using mobile authentication by 1 August 2023 will not be able to access Internet Banking for Business.
You can continue to use a NetGuard token for your Client Fund Service authentication services, however you will still need to have the BNZ Mobile Business Banking app installed if you’re also using Internet Banking for Business.
Changes to terms and conditions for Internet Banking for Business
We’re making changes to our Internet Banking for Business Terms and Conditions for this systems change by removing all references to NetGuard, and removing Terms and Conditions that specifically relate to NetGuard authentication.
The updated Terms and Conditions will continue to refer to ‘Mobile Authentication,’ and will also refer to ‘Two-Step Authentication.’
View the current Internet Banking for Business Terms and Conditions
View our updated Internet Banking for Business Terms and Conditions (PDF 319KB)
If you need more information, please phone 0800 275 269.
Changes to terms and conditions for Business First™ Visa and Corporate, Purchasing and ePurchasing Visa cards
Effective from 16 June 2023
We’re combining the Business First™ Visa Card Terms and Conditions and the Corporate, purchasing, and ePurchasing Visa cards Terms and Conditions into one document.
We are updating the following documents for this systems change, and some other changes.
Changes to the Business First™ Visa Card Terms and Conditions
Changes include:
- calling the terms and conditions document the 'BNZ Business First™, Purchasing and ePurchasing Visa Cards Terms and Conditions'
- moving the definitions to clause 1.1 and including definitions of Bank, Card, Card Details, Cash Advance, Conditions of Use, Credit Card Account, and ePurchasing Card
- amending clause 1.6 to specify that the Employer agrees that the credit for the facility must be used wholly for business or investment purposes (or for both purposes) and is a commercial credit payment product for the purposes of the Retail Payment Systems Act 2022
- adding clause 2.2 relating to the provision of ePurchasing Cards and clarifying which clauses apply to ePurchasing Cards
- amending clause 2.8.3 to note the Employer must encourage the cardholder to select a PIN that is different to their other cards and also to provide details of where to find the Bank’s identification requirements
- amending clause 2.11 to include an acknowledgment from the Employer that this clause applies to all transactions made under an ePurchasing Card
- amending clause 2.12 to include the credit limits for ePurchasing Cards
- amending clause 2.16 to include an option for the Employer to instruct the Bank to impose transaction limits
- amending clause 3.1 to give an Employer the option to choose to receive their statement(s) electronically
- amending clause 5.1 to clarify where current fee information can be found
- amending clause 8.1 to include a requirement to make sure each merchant complies with the agreed procedure for using an ePurchasing Card
- amending clause 9.2 to note the Bank is not liable for input error by the Employer or merchant using ePurchasing Cards
- deleting clause 12 (Personal Information) and replacing it with the current standard privacy information notice (Information about you)
- adding clause 13.11 to note the Bank provides certain management tools
- updating contact details, correcting minor typographical errors, and making other clarifying or formatting changes.
Changes to the Corporate, purchasing, and ePurchasing Visa cards Terms and Conditions
Changes include:
- calling the terms and conditions document the 'BNZ Business First™, Purchasing and ePurchasing Visa Cards Terms and Conditions'
- moving the terms to clause 1.1, including definitions of EFTPOS and ePurchasing Card and amending the definition of Card to include a Business First™ Visa card, a BNZ Purchasing card and a BNZ ePurchasing Card
- changing references to Customer to Employer
- changing references to Virtual Card to ePurchasing Card and clarifying which clauses apply to ePurchasing Cards
- amending clause 1.6 to specify the Employer agrees that the credit for the facility must be used wholly for business or investment purposes (or for both purposes) and is a commercial credit payment product for the purposes of the Retail Payment Systems Act 2022
- amending clause 2.9 to note the Employer must encourage the cardholder to select a PIN that is different to their other cards and also to provide details of where to find the Bank’s identification requirements
- amending clause 2.11 to include the maximum daily cash withdrawal limit
- amending clause 2.17 relating to Cash Advances
- adding new clauses 3.2 and 10.6 relating to partnership accounts
- amending clause 5.1 to clarify where current fee information can be found
- amending clause 6.3 to include Balance Transfers
- amending clause 7.1 relating to payments due
- amending clause 8.3 by removing the $50 excess in certain circumstances when a lost or stolen card has not yet been notified to the Bank
- adding a new clause 9.3 relating to acting on instructions
- amending clause 10.4 relating to repayment in other circumstances where the Employer is an individual or a partnership
- deleting the clause 12 (Personal information) and replacing them with the current standard privacy information notice (Information about you)
- adding a new clause 13.3 relating to insurance products
- updating contact details, correcting minor typographical errors, and making other clarifying or formatting changes.
View the current Business First Visa Terms and Conditions (PDF 402KB) and Corporate, purchasing and ePurchasing Visa cards terms and conditions (PDF 108KB).
View our updated BNZ Business First, Purchasing and ePurchasing Visa Cards Terms and Conditions (PDF 197KB), effective from 16 June 2023.
If you need more information, please phone 0800 275 269.