Changes to our Migrant Account Terms and Conditions

Effective from 29 April 2026

We’re making changes to our Account Terms and Conditions for migrants.

The changes include:

  • Updating all references to “Account Terms and Conditions” to “Migrant Account Terms and Conditions”.  
  • Updating references to “BNZ” to “the Bank”.
  • Clarifying the Account activation process in clause 2, including that the Account Holder must visit a BNZ branch in order to activate the Account, unless BNZ agrees otherwise.
  • Clarifying the Account closure process in clause 2.3, including that funds will be refunded to the account of origin, or to another account in the Account Holder’s name with a reputable bank or financial institution.
  • Updating the service terms in clause 7.3 to clarify they relate to demands or notices from BNZ.
  • Making minor updates to the Personal Information Notice in clause 11, including clarifying that references to “this form” mean the Migrant Banking account application form.
  • Making other changes to simplify wording, improve readability, and reduce duplication. 

View the current Account Terms and Conditions (PDF 135KB).

View the updated Migrant Account Terms and Conditions (PDF 149KB), effective from 29 April 2026.

For more information, visit any BNZ branch or call us on 0800 275 269.

Changes to Standard terms and conditions, personal fees, and business fees

Effective from 31 March 2026

We’re making changes to our BNZ Standard terms and conditions, Personal account, service, and facility fees guide, and Business and Agribusiness account and service fees guide.

BNZ Standard terms and conditions

The changes include:

  • removing details about where you can use our Eftpos cards to withdraw cash, which you can no longer do at any international ATMs or at Bank of Baroda or Travelex ATMs within New Zealand – specifically:
    • removing point (d) from the list in clause 15.1 on page 24, about finding overseas ATMs that accept our Eftpos cards
    • removing the heading ‘Using your Eftpos card overseas’, and clauses 15.24 to 15.31 from pages 27 and 28
  • updating all clauses in section 19 on pages 29 and 30, describing how our foreign currency accounts operate within the foreign currency market and clarifying credit and debit interest
  • correcting the timing for cancelling a Term Deposit that’s just started (the ‘cooling off period’), in clause 24.7 on page 37
  • correcting minor typographical errors, and making other clarifying or formatting changes.

View the current BNZ Standard terms and conditions (PDF 296KB).

View the updated BNZ Standard terms and conditions (PDF 249KB), effective from 31 March 2026.

Personal account, service, and facility fees

The changes include:

  • adding details to the table of charges on page 1, to clarify that electronic transactions include open banking payments – for instance, using Payap
  • removing references from the services fees on page 5 to using Eftpos cards at overseas ATMs
  • correcting minor typographical errors, and making other clarifying or formatting changes.

View the current Personal account, service, and facility fees guide (PDF 126KB).

View the updated Personal account, service, and facility fees guide (PDF 94KB), effective from 31 March 2026.

Business and Agribusiness account and service fees

The changes include:

  • removing references from the services fees on page 7 to using Eftpos cards at overseas ATMs
  • correcting minor typographical errors, and making other clarifying or formatting changes.

View the current Business and Agribusiness account and service fees guide (PDF 145KB).

View the updated Business and Agribusiness account and service fees guide (PDF 133KB), effective from 31 March 2026.

For more information, visit any BNZ branch or call us on 0800 275 269.

Changes to Eftpos card cash withdrawals at ATMs

Effective from 31 March 2026

Eftpos cards will no longer be able to withdraw cash from:

  • ATMs outside of New Zealand
  • Bank of Baroda ATMs in New Zealand
  • Travelex ATMs in New Zealand.

If you use your Eftpos card for any of these types of withdrawals, you can upgrade to a Flexi Debit Visa to continue. Account opening criteria, BNZ standard terms and conditions and fees apply.

For more information about this change, visit any BNZ branch or call us on 0800 275 269.

Changes to our Internet Banking for Business terms and conditions

Effective from 16 March 2026

We’re making changes to our Internet Banking for Business terms and conditions.

The changes are:

  • Amending clauses 2.13 (a), 2.15, 2.17 (d), and 7.1–7.3 to include ‘User Limits’ and to allow us to set specific customer limits from time to time as follows:

2.13 (a) an Instruction breaching the applicable Daily Limits, User Limits, and/or Transaction Limits (see clause 7); or

2.15 Daily Limits, User Limits, Transaction Limits, and FX Facility Limits apply in relation to Instructions (as set out more fully in clause 7). A User’s power to conduct transactions through the Service will be restricted accordingly.

2.17 (d) only you can add or delete a Nominated Account, specify whether or not Users with Authorise Activity are able to be appointed, specify whether or not Controlled Instructions given by Users with Authorise Activity require additional authorisation, specify whether Users may give Restricted Instructions (as discussed in clause 2.13), specify or change the applicable Transaction Limits, User Limits, or Daily Limits (subject to the Bank's right to impose lower limits, as provided in clause 7), or (subject to clause 2.16) otherwise alter your mandate to the Bank pursuant to your Application.

7.1 In your Application, you must specify:
(a) A Transaction Limit; and
(b) A Daily Limit (where applicable),
in relation to Payment Requests (or any other services as determined by the Bank from time to time). You may set different Transaction Limits and/or Daily Limits for different kinds of Payment Requests. Users, including Users with Manage Site Administration Authority cannot set or amend the Transaction Limit(s) or Daily Limit(s).

Users who have been assigned the appropriate Function within the Manage Site Administration Authority can specify a User Limit for any User(s). This must be less than or equal to the Transaction Limit and can be different depending on the kind of Payment Request. If no User Limit is specified it will be the relevant Transaction Limit.

7.2 The Bank may set default Transaction Limits, User Limits, and Daily Limits and/or specific Transaction Limits, User Limits, and Daily Limits that apply to you in relation to Payment Requests or other services. The Transaction Limit(s), User Limit(s), and Daily Limit(s) applying to the Service will be either:
(a) as set by you;
(b) as set by the Bank in relation to you; or
(c) the Bank’s default limits that apply to the Service, 
whichever is the lower.

The Bank (in its sole discretion) may change the limits that apply to you, a User, or the Service at any time.

In the case of FX Dealing, the Bank may impose FX Facility Limits, and the Bank (in its discretion) may increase or decrease the FX Facility limits from time to time, without notifying you.

7.3 The Service will not allow any User to create or authorise an Instruction (or enter into any FX Transaction) that exceeds an FX Facility Limit, a Transaction Limit, or a User Limit or which would cause a Daily Limit to be exceeded, including by amending an existing Instruction.

  • Deleting clause 7.4 and re-numbering clause 7.5.
  • Adding the following definition of ‘User Limit’ in clause 17.1: ‘User Limit’ means the maximum amount of the Transaction Limit that a particular User may authorise to be debited from or credited to a Debit Account pursuant to any one Payment Request.
  • Correcting minor typographical errors and making other clarifying or formatting changes.

For more information, visit any BNZ branch or call us on 0800 275 269.

Changes to business fees

Effective from 24 February 2026

We’re making changes to our Business and Agribusiness account and service fees guide.

The changes include:

  • adding our Solicitors Nominated Trust account to the table of transactional accounts on page 2
  • formatting changes to adjust for the addition.

View the current Business and Agribusiness account and service fees guide (PDF 146 KB).

View the updated Business and Agribusiness account and service fees guide (PDF 145 KB), effective from 24 February 2026.

For more information, visit any BNZ branch or call us on 0800 275 269.

Changes to our Standard terms and conditions

Effective from 16 February 2026

We’re making changes to our BNZ Standard terms and conditions.

The changes include:

  • redefining ‘Confirmation’ and ‘Term’ in clause 24.1 on pages 33 and 34
  • removing clause 24.7 ‘Altering Term Deposits’ on page 34
  • rewording the clause currently numbered 24.8 ‘Cancelling a Term Deposit’ on page 34, to clarify how cancelling affects your interest
  • inserting a new clause 24.11 ‘Ownership changes’ on page 34 covering events that change the ownership of Term Deposits or allow us to close a Term Deposit
  • removing the final sentence of clause 24.12 ‘Investment return’ on page 34, about quoting total gross interest 
  • adding details to clause 24.13 ‘Calculating and paying interest’ on page 34, to clarify how a Term Deposit’s start and maturity date can affect interest 
  • adjusting wording in clause 24.15 ‘Early withdrawal requests’ on page 35, to clarify how we reduce interest payable in these situations 
  • removing wording from clause 24.20(b) on page 35, about how a Term Deposit can be reinvested for a further Term
  • correcting minor typographical errors, and making other clarifying or formatting changes. 

View the current BNZ Standard terms and conditions (PDF 296 KB). 

View the updated BNZ Standard terms and conditions (PDF 253 KB), effective from 16  February 2026.

For more information, visit any BNZ branch or call us on 0800 275 269.

Changes to BNZ Advantage credit cards and the BNZ Rewards programme

Effective from 3 February 2026

  • These changes will apply to all BNZ Advantage credit card agreements entered into on or after 3 February 2026.
  • For BNZ Advantage credit card agreements entered before 3 February 2026, all changes will come into effect on 3 February, except for the reduction in interest-free days for BNZ Advantage Visa Platinum and BNZ Advantage Visa Classic (as described below).
  • The reduction in interest-free days will take effect on statement periods beginning on or after 3 February 2026. For example, if the opening date of your next statement is 5 February 2026, the update will apply from 5 February 2026.

BNZ Advantage Visa Platinum

  • Reduced number of interest-free days†(from up to 55 days to up to 44 days) on purchases.^
  • More BNZ Points will be needed to redeem rewards. The exact number will vary across the different reward types. To find out more, read our FAQs.
  • Travel insurance excess for each and every accepted claim will increase from $200 to $300.
  • Domestic Rental Vehicle Collision Damage and Theft Excess Cover won’t be provided.
  • Snow Sports will no longer be included, but will be available to purchase prior to departure from 3 December 2025 as an optional add-on if required.**
  • Cruise Cover will no longer be included, but will be available to be purchased prior to departure from 3 December 2025 as an optional add-on if required.** You will not be covered for any part of your trip if your itinerary includes a multi-night cruise and you do not purchase the Cruise Cover add-on.

BNZ Advantage Visa Classic

  • Reduced number of interest-free days† (from up to 55 days to up to 44 days) on purchases.^
  • More BNZ Points will be needed to redeem rewards. The exact number will vary across the different reward types. To find out more, read our FAQs.

BNZ Advantage Visa Business

  • Reduced BNZ Points earn rate on eligible purchases:*
Earn rate before 3 February 2026 Earn rate on or after 3 February 2026
2 BNZ Points per $1 spend* 1.67 BNZ Points per $1 spend*
  • More BNZ Points will be needed to redeem rewards. The exact number will vary across the different reward types. To find out more, read our FAQs.
  • Travel insurance excess for each and every accepted claim will increase from $200 to $300.
  • Snow Sports will no longer be included, but will be available to purchase prior to departure from 3 December 2025 as an optional add-on if required.**
  • Cruise Cover will no longer be included, but will be available to be purchased prior to departure from 3 December 2025 as an optional add-on if required.** You will not be covered for any part of your trip if your itinerary includes a multi-night cruise and you do not purchase the Cruise Cover add-on.

View the current and updated insurance policy documents (effective from 3 February 2026) provided to BNZ Advantage Visa Platinum and BNZ Advantage Visa Business cardholders by AIG Insurance New Zealand Limited.

For more information read our FAQs, visit any BNZ branch, or call us on 0800 275 269.

† Statement periods will vary from person to person. You can find your statement period on your credit card statements. For more information, visit understanding interest charges.

^Interest-free days don’t apply to transactions like balance transfers and cash advances. For more information, refer to ‘When interest-free days don’t apply’ on our understanding interest charges page.

* BNZ Points are earned on eligible purchases, which exclude cash advances, balance transfers, interest charges, bank fees, gambling, betting or lottery transactions, unauthorised transactions for which you are not liable, transactions with securities brokers or dealers, transactions for cryptocurrency and contracts for difference.

** You can check your cover, make changes to your cover and purchase any required optional cover prior to your departure date at bnztravel.co.nz or by calling 0800 269 872. There are cover restrictions and exclusions to the automatic cover available, if you will be aged 75 years or above on your date of departure from NZ. However, you will be able to buy some of these restricted and excluded covers by purchasing Mature Traveller Medical Cover.

BNZ Advantage Visa Platinum and Business card insurances are provided by AIG. BNZ Advantage Visa Platinum and BNZ Advantage Visa Business card insurances (‘Insurance’) is subject to the terms, conditions, exclusions (for example age limitations etc.), eligibility criteria, and activation requirements contained in the policy documents. You should read the policy documents to make sure that the Insurance meets your needs. The Insurance is provided to Advantage Visa Platinum and Business cardholders by AIG Insurance New Zealand Limited (‘Insurer’) under an agreement with BNZ. BNZ does not underwrite the Insurance, is not an agent of the Insurer, and does not guarantee the obligations of the Insurer. Premiums are payable for policy extensions such as pre-existing cover, duration extension and specified items. Visit the BNZ travel website to check your cover eligibility.