Public notices

If you require more information on any of these notices please visit your local BNZ branch or phone 0800 269 562.

View Financial Markets Authority (FMA) notices

Changes to the Internet Banking for Business terms and conditions

Effective from 29 April 2019

We are changing the Internet Banking for Business terms and conditions as follows:

  • Updating clause 3.4 to clarify the existing position of a Netguard Login Code or Mobile Authentication not being required when logging in and accessing the mobile business banking under clause 3.16.
  • Updating the definition of “Mobile Authentication” by removing reference to “Netguard Device” to reflect Mobile Authentication may now be activated without using a Netguard Device.
  • Updating clause 10.45 to clarify that in addition to Netguard, Mobile Authentication can be used for amending payment beneficiaries for telegraphic transfers and international cheques.

Correction: Corporate, Purchasing and Dynamic Card Funding Visa card terms and conditions

Effective from 10 April 2019

We’ve updated the above terms and conditions as the version published in connection with the changes advised in the public notice (effective from 12 November 2018) did not include previous changes to the terms and conditions, that took effect on 1 October 2018. The 1 October 2018 changes are described in an earlier public notice.

We apologise for this error and confirm it has now been fixed.

View the corrected terms and conditions pdf 135kb

Changes to the Foreign Exchange Dealing terms and conditions

Effective from 15th April 2019

We are changing clause 4.3 of the FX Dealing terms and conditions to make it clearer that we may settle a FX Transaction with you in accordance with any settlement instructions we receive from you, even in the situation where, for example, you provide settlement accounts that are not held in your name.

View the updated terms and conditions pdf 84KB

Reduction of Outward Telegraphic Transfer ‘Charges Our’ fee

Effective from 8 April 2019

The Outward Telegraphic Transfer ‘Charges Our’ fee is reducing from $25 to $20 per transaction.

To find out more about ‘Charges Our’ fee,  view our International payment fees section of our Service fees page , or phone 0800 269 562.

Correction: Rapid Save interest rate changes

Effective from 29 March 2019

Public notices we published this week described some changes to your Rapid Save account – including more ways to get your bonus interest and a proposed change to interest rates, effective 29 March.

It was suggested the proposed interest rate changes would be an improvement for all customers. That wasn’t right. We’re sorry and we’re fixing it.

To put this right, we’re keeping the total interest you could earn on your Rapid Save account at 2.10% p.a. As of 29 March 2019, the way the total interest rate is made up is changing, as set out in the table below.

PRODUCT
Current Interest rate p.a.
PREVIOUS PLANNED INTEREST RATE p.a. CHANGES

New planned INTEREST RATE CHANGES P.a.

Effective 29 MARCH 2019
Rapid Save Account      
Base rate (is still increasing) 0.05% 0.10% 0.10%
Bonus rate (is still decreasing) 2.05% 1.90% 2.00%
Total rate (is staying the same) 2.10% 2.00% 2.10%

Interest rates are subject to change. Full details, Terms and Conditions, a copy of our current disclosure statement and Qualifying Financial Entity Disclosure Statement may be obtained from any BNZ store.

The other updates we shared remain unchanged. They are:

1. More ways to get your bonus interest
You used to only get rewarded for growing your balance. From 29 March 2019, you’ll also get bonus interest if your balance stays the same, and you make no more than one withdrawal during the bank month. And because we get that bank months can be tricky to get your head around, check out this new page on our website: bnz.co.nz/bankmonth

2. A lower withdrawal fee – $3
After your first free withdrawal, you’ll now pay $3 instead of $5 per withdrawal. This change has already taken place.

To find out more about Rapid Save visit bnz.co.nz/rapidsave

We’re committed to doing the right thing by our customers and will continue to explore ways to help you be good with money.

If you require more information, please visit your local BNZ branch or phone 0800 269 562.

Rapid Save interest rate changes

Effective from 29 March 2019

Our interest rates for new and existing customers are changing as follows:

PRODUCT
Current Interest rate p.a.
new interest rate p.a.
Rapid Save Account    
Base rate (is increasing) 0.05% 0.10%
Bonus rate (is decreasing) 2.05% 1.90%
Total rate (is decreasing) 2.10% 2.00%

Interest rates are subject to change. Full details, Terms and Conditions, a copy of our current disclosure statement and Qualifying Financial Entity Disclosure Statement may be obtained from any BNZ store.

If you require more information, please visit your local BNZ branch or phone 0800 269 562.

Correction: Home loan variable interest rate changes

The public notice published on 2 March 2019 incorrectly recorded the effective date for increases to Residential Investor variable interest rates for existing Mortgage One and Rapid Repay home loan customers as 16 March 2019, rather than 18 March 2019.

Effective from 18 March 2019, our Residential Investor variable interest rates for existing Mortgage One and Rapid Repay home loan customers are increasing as follows:

PRODUCT
Current residential investor variable Interest rate p.a.
new residential investor variable interest rate p.a.
Mortgage One 6.60% 6.75%
Rapid Repay 6.05% 6.20%

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 Branch. If you need more information, please visit a BNZ branch or phone 0800 269 562.

Rapid Save - Qualify for bonus interest when you maintain your balance

Effective from 29 March 2019

You no longer need to increase your Rapid Save account balance during a bank month to qualify for bonus interest. Instead, you’ll now qualify for bonus interest if:

  • your balance on the last day of the bank month is the same or more than at the start of the bank month 
  • you do not make more than one withdrawal during that bank month.

For more information, please visit your local BNZ branch, phone 0800 269 562, or view our Rapid Save page. For more information on bank months, including dates for each bank month period, see Receiving bonus interest on Rapid Save each bank month.

Home loan Residential Investor variable interest rate change

Effective from 16 March 2019

Our Residential Investor variable interest rates for existing home loan customers effective from 16 March 2019, are increasing as follows:

PRODUCT
Current Interest rate p.a.
new interest rate p.a.
TotalMoney 6.00% 6.15%
Standard/Fly Buys 6.00% 6.15%
Mortgage One 6.60% 6.75%
Rapid Repay 6.05% 6.20%
BNZ Advantage 6.00% 6.15%

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 branch. If you need more information, please visit a BNZ branch or phone 0800 269 562.

Reduction of the Rapid Save withdrawal fee

Effective from 5 March 2019

The withdrawal fee on our Rapid Save account is reducing from $5 per withdrawal to $3 per withdrawal. Please note one free monthly withdrawal remains.

If you require more information, please visit your local BNZ branch, phone 0800 269 562, or view details on our website at bnz.co.nz/rapidsave.

Notification of increase to BNZ Cheque Clearance Fee

Effective 1 March 2019

We are increasing the BNZ Cheque Clearance Fee to 75 cents.

This change will only impact non-personal account types only. This change is a direct impact of declining volumes in the cheque market nationwide with customers choosing to do most (if not all) of their banking electronically.

For further information on our Internet Banking and Internet Banking for Business channels please refer to Payments.

Rapid Save interest rate changes

Effective from 30 November 2018

Our interest rates for new and existing customers effective from 30 November 2018 are decreasing as follows:

 Product
Interest rate p.a.
new interest rate p.a.
Rapid Save Account 2.20% p.a. total rate
(0.05% base + 2.15% bonus)
2.10% p.a. total rate
(0.05% base + 2.05% bonus)

Interest rates are subject to change. Full details, Terms and Conditions, a copy of our current disclosure statement and Qualifying Financial Entity Disclosure Statement may be obtained from any BNZ store.

If you require more information, please visit your local BNZ branch or phone 0800 269 562.

Changes to the Internet Banking for Business and Internet Banking terms and conditions

Effective from 1 December 2018

We are changing the above terms and conditions to introduce a new feature – customers (including users in Business Banking) will now be able to use their online banking login credentials to set up bank feeds allowing transactional account data to be exported directly to a third party application (for more information see new clause 3.6 in the Internet Banking Terms and Conditions and new clause 15 in the Internet Banking for Business Terms and Conditions).

At the same time, we are also making the following changes to the Internet Banking for Business Terms and Conditions:

  • Removing references to the Code of Banking Practice (following the new principles-based Code coming into force); and
  • Removing references to “Mobile Authentication Login Code” in anticipation of a new ‘push’ feature, which will mean users won’t need to provide a Mobile Authentication Code when using Mobile Authentication

Changes to Business First Visa Card terms and conditions 

Effective from 12 November 2018 

Changes to our standard terms and conditions for BNZ Business First Visa Card include: 

  • Amending clauses 2.3 and 6.1.b to reflect that a card replacement fee charged when a card is replaced because it is faulty, damaged, lost or stolen, will no longer apply from 12 November 2018. 
  • Amending clause 6.1.b to clarify that if you choose to have the replacement card couriered to you, a courier charge may apply.
  • Amending clause 6.1.f to reflect that a foreign currency service fee charged on purchase refunds will no longer apply from 11 November 2018.

View the updated terms and conditions pdf 442kb

If you require more information, please visit your local BNZ branch or phone 0800 275 269. 

Changes to credit cards terms and conditions

Effective from 12 November 2018

Changes to BNZ credit card terms and conditions include:

  • Amending clauses 4.10 and 8.6 to reflect that a card replacement fee charged when a card is replaced because it is faulty, damaged, lost or stolen, will no longer apply.
  • Amending clause 8.6 to clarify that if you choose to have the replacement card couriered to you, a courier charge may apply.
  • Amending clause 8.15b to reflect that a foreign currency service fee charged on purchase refunds for Visa cards will no longer apply (effective from 11 November 2018).

View the updated terms and conditions pdf 257kb

If you require more information, please visit your local BNZ branch or phone 0800 275 269.

Changes to BNZ Standard Terms and Conditions, and Flexi Debit Visa Terms and Conditions

Effective from 12 November 2018

Bank of New Zealand Standard Terms and Conditions and BNZ Flexi Debit Visa Terms and Conditions are changing. The changes include:

  • Incorporating the BNZ Flexi Debit Visa Terms and Conditions into the Bank of New Zealand Standard Terms and Conditions (refer section 14).
  • Removing references to the Code of Banking Practice (following the new principles-based Code coming into force).
  • Reducing our investigation timeframe for ATM, terminal or Flexi Debit Visa card faults (refer clause 14.32).
  • Amending clause 14.3 to reflect the removal of the card replacement fee and overseas postage fee.
  • Removing the $50.00 liability level for any fraudulent transactions for Eftpos cards (refer clause 15.16).
  • Amending clause 9.4(b) to include “Voice Identification”. This means that you will be liable for any BNZ losses in relation to the use of the telephone banking and/or video banking services accessed via Voice Identification.
  • Amending clause 14.39 to reflect that a foreign currency service fee charged on purchase refunds for Flexi Debit Visa cards will no longer apply (effective from 11 November 2018).
  • Other miscellaneous changes to align BNZ Flexi Debit Visa Terms and Conditions with Bank of New Zealand Standard Terms and Conditions.

If you reside in an European Economic Area country, please disregard section 11 of the updated Bank of New Zealand Standard Terms and Conditions and instead read the European Union General Data Protection Regulations (GDPR) Privacy Statement, which applies to you instead of that section.  View the GDPR Privacy Statement  pdf 51kb

View the updated Standard Terms and Conditions PDF 286kb

If you require more information, please visit your local BNZ branch or phone 0800 275 269.

Changes to Advanced and Anytime Personal Loan terms and conditions (for loans approved prior to 16 May 2014)

Effective from 12 November 2018

Changes to our standard terms and conditions for Your Advanced & Anytime Personal Loan include:

  • Amending clauses 15.4 and 16.3 to reflect that a card replacement fee charged when a card is replaced because it is faulty, damaged, lost or stolen, will no longer apply from 12 November 2018. 
  • Amending clause 16.3 to clarify that if you choose to have the replacement card couriered to you, a courier charge may apply. 
  • Amending clause 16.7 to reflect that a foreign currency service fee charged on purchase refunds will no longer apply from 11 November 2018.

View the updated terms and conditions pdf 177kb

If you require more information, please visit your local BNZ branch or phone 0800 275 269.

Changes to Corporate Purchasing and Dynamic Card Funding Visa Cards terms and conditions

Effective from 12 November 2018

Changes to our standard terms and conditions for Corporate Purchasing and Dynamic Card Funding Visa Card include:

• Amending clauses 2.4 and 6.1.b to reflect that a card replacement fee charged when a card is replaced because it is faulty, damaged, lost or stolen, will no longer apply from 12 November 2018.
• Amending clause 6.1.b to clarify that if you choose to have the replacement card couriered to you, a courier charge may apply.
• Amending clause 6.1.g to reflect that a foreign currency service fee charged on purchase refunds will no longer apply from 11 November 2018.

View the updated terms and conditions pd 132kb

If you require more information, please visit your local BNZ branch or phone 0800 275 269.

Changes to the Corporate, Purchasing and Dynamic Card Funding Visa Cards Terms and Conditions

Effective from 1 October 2018

We are changing our Corporate, Purchasing and Dynamic Card Funding Visa Cards Terms and Conditions so that customers will now need to collect and verify cardholders’ ID and address on our behalf to meet customer due diligence obligations under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. We’ve also made some minor changes removing references to the Code of Banking Practice (following the new principles-based Code coming into force).

This new process will apply to new cardholders from 1 October 2018. A copy of the applicable customer due diligence procedures are available on our website.