Public notices

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

View Financial Markets Authority (FMA) notices

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.

Changes to the Business First Credit Card Terms and Conditions

Effective from 17 September 2018

We have made some small updates to the Business First Credit Card Terms and Conditions; we’ve removed references to the Code of Banking Practice (following the new principles-based Code coming into force). This is to align this product with BNZ’s other credit card terms and conditions.

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

Changes to Internet Banking Terms and Conditions

Effective from 18 July 2018

We are changing our Internet Terms and Conditions to introduce a new feature - mobile authentication. Mobile authentication is an alternative to the NetGuard device; a second-factor authentication that enables you to access internet banking using your BNZ Mobile app, in addition to entering an access number and login details. We’ve also made some minor changes to remove references to the Code of Banking Practice. 

Changes to Paymark Merchant Tripartite Agreement Terms and Conditions

Effective from 31 July 2018

The Paymark Merchant Agreement Terms and Conditions are changing to reflect the removal of Manual Offline Vouchers (MOV). Improved terminal functionality allows merchants to operate in offline mode using Electronic Offline Vouchers (EOV) and MOVs are no longer required. Paymark are exiting MOVs effective 31 July 2018 and any vouchers processed after this date will be dishonoured.

The key changes to the agreement are:

  • Manual Offline Vouchers cannot be used to accept Eftpos cards i.e. debit cards that do not bear an acceptance mark of an international card scheme
  • Manual Offline Vouchers have been replaced by Electronic Offline Vouchers (EOVs) - which is a function of the terminal to store transactions and pass them when a reconnection is established
  • Eftpos cards can only be accepted via EOVs.

The updated Tripartite Agreement can be found here.

To find out more about EOV, please contact your terminal provider.

Unclaimed Monies

The Unclaimed Money Act 1971 requires the holder of monies to pay such monies to the Crown when they become “unclaimed”. This may include:

  • Bank cheques, and foreign currency drafts that have not been claimed or presented by the payee for over 6 years.
  • Transaction accounts (in credit) which have been inoperative for over 6 years.
  • Deposit accounts (in credit) which have been inoperative for over 25 years. The bank is required to pay the Inland Revenue unclaimed monies in respect of bank cheques, and foreign currency drafts issued by the bank in the period 1 June 2011 to 31 May 2012, including transaction account balances which have been inoperative since 31 May 2012, and deposit account balances which have been inoperative since 31 May 1993. If you are holding a BNZ issued bank cheque, or foreign currency draft from this period, and you believe you are the true owner, please present the item to your bank for payment before 28 September 2018. If your account is inoperative, please reactivate it by undertaking transactions before 28 September 2018.

Any such monies remaining unclaimed as at 28 September 2018 will be transferred to Inland Revenue, where it will be available for the true owner to claim from 31 October 2018.

If you have any queries about how to claim monies from Inland Revenue, visit ird.govt.nz/unclaimed-money/

Change to our special answer service

Effective from 4pm, 29 June 2018

We will no longer offer the special answer service for cheques. To ensure you can use funds deposited into your account as quickly as possible, you may wish to request being paid electronically, such as one-off payments, bill payments, or automatic payments.

Learn more about Internet Banking and Internet Banking for Business.

European Union General Data Protection Regulation (EU GDPR)

Effective from 25 May 2018

The EU GDPR establishes a uniform data protection law across the European Economic Area (EEA) and aims to protect the privacy and use of EEA residents’ personal data in an increasingly digital world. An EU GDPR Privacy Statement has been published which sets out how we, Bank of New Zealand, will be complying with these obligations to protect the data of BNZ customers who reside in an EEA country.

Read the new EU GDPR Privacy Statement  PDF 50KB

Changes to Internet Banking for Business Terms and Conditions

Effective from 7 June 2018

We are changing our Internet Banking for Business Terms and Conditions to introduce a new feature - BNZ mobile authentication. BNZ mobile authentication is an alternative to the NetGuard device; a second-factor authentication that will enable users to generate a code using their BNZ Business mobile app, which can be used instead of the code generated by the NetGuard device, any time a customer would normally use the device i.e. to log in to Internet Banking for Business.

Changes to Internet Banking Terms and Conditions

Effective from 29 May 2018

We are changing our Internet Banking Terms and Conditions regarding our Alerts service. Rather than always being an optional service that you can opt into, some Alerts will be sent to you even if you haven’t opted-in, e.g. in the case of potential fraud, or if we believe it’s in your interest to know in a timely manner.

We have updated the definition of “Alerts” and added a new clause 10.2 to reflect this change. Clause 10.12 regarding cancellation of Alerts and charges incurred when you cancel, has been deleted. As we don’t charge for Alerts, this was no longer applicable.

International payment fee change in Internet Banking

Effective from 18 May 2018

Our fee for international payments sent via Internet Banking is reducing to $15.00.  The fee for ‘staff assisted’ international payments through our store network remains at $25.00​

Changes to Internet Banking for Business Terms and Conditions

Effective from 10 May 2018

Changes to Internet Banking for Business Terms and Conditions include:

  • Updating the “Nominated Accounts” that can be accessed via Internet Banking for Business. This means we are now able to automatically add pre-existing and new accounts to your Internet Banking for Business site.
  • Advising you that if you can access online statements for a nominated account through Internet Banking for Business, then we may advise you that you will no longer receive paper statements for that account.

Changes to Internet Banking for Business, International Payments, and Foreign Exchange Dealing Terms and Conditions

Effective from 23 April 2018

Changes to Internet Banking for Business and International Payments Terms and Conditions include:

  • Moving International Payments Terms and Conditions into the Internet Banking for Business Terms and Conditions. This means that all Internet Banking for Business customers will have access to our International Service, if their Administrator with Manage Users permissions gives permission. Users in single user sites will be automatically permissioned.
  • Amending clause 9.41 to make it clear that you will be liable for any costs to reverse a foreign exchange transaction when you cancel a payment request, or if a payment is cancelled by BNZ for sanction reasons.
  • Adding ways in which we tell you about changes to our terms and conditions and removing some of the current notification requirements.
  • Improving provisions around third party accounts.

 Changes to Foreign Exchange Dealing in Internet Business for Banking Terms and Conditions include:

  • Removing references to separate International Payments in Internet Banking for Business terms and conditions, as these have now been incorporated into Internet Banking for Business terms and conditions.
  • Adding ways in which we can tell you about changes to our Terms and Conditions.

Notification of changes to BNZ Advantage Visa Platinum credit card

Effective for statement periods with a closing date of 16 May 2018 or after, the Cash Rewards earn rate will be changing from $1 per $75 spent to $1 per $90 spent.

Any questions? bnz.co.nz  0800 275 269

Important changes to BNZ fees

Effective from 1 April 2018

BNZ announces the following fee changes:

 
Current fee
new fee
Home loans
   
Rapid Repay Base Fee $3.50 monthly $2 monthly
Mortgage One Base Fee $20 monthly $2 monthly
Top Up Fee $250 $150
Re-document Fee $250 $150
SECURITY
   
Execution of Memorandum of Priority of Mortgage $100 per memo $10 per memo
Discharge of Mortgage $100 $40
Partial Discharge of Mortgage $100 per deed $40 per deed
Preparation of Chattels $50 $10
Any other Deed or Security Release $50 $30
Rates Arrears Fee $35 per default $25 per default

In addition, BNZ is also changing the following fees for our personal products*:

 
current fee
new fee
Cards
   
Activator Mastercard Account Fee $20 per month (if debit transaction(s) made within statement cycle) $2 per month (if debit transaction(s) made within statement cycle)
BNZ Advantage Visa Platinum Account Fee $72.50 half-yearly $45 half-yearly
BNZ Platinum Account Fee $87.50 half-yearly $45 half-yearly
Lite Visa Account Fee $5 monthly $15 half-yearly
Low Rate Mastercard Account Fee $5 monthly $17.50 half-yearly
Additional Card Fee - Low Rate Mastercard/Lite Visa $1 monthly $1.50 half-yearly
Additional Card Fee - BNZ Classic $4.95 half-yearly $1.50 half-yearly
Late Payment Fee $15 $2
Over Limit Fee $20 $2
Over the Counter Cash Advance Fee $5 $3
Personal Loans
   
Advanced Personal Loan Facility Fee $250 $50
Anytime Personal Loan Over Limit Fee $20 $2
Anytime Personal Loan Over the Counter Cash Advance Fee $5 $3
Late Payment Fee $15 $2
Overdrafts
   
Overdraft Facility Fee $5 per month ($2 for YouMoney Tertiary) No fee
Asset Finance - consumer
   
Discharge Fee $100 No fee

*These fees are unchanged for business products.

We are also removing the ATM recovery fee for personal and business accounts.

Fees are subject to change.

 

BNZ Business Banking Terms and Conditions changes

Effective from 30 March 2018

The following terms and conditions are changing:

  • Corporate, Purchasing and Dynamic Card Funding Visa Card Terms and Conditions
  • BNZ Business First Visa and Business First Lite Visa Card Terms and Conditions

This will allow us to communicate with customers electronically without having to first get a customer’s consent, enabling us to provide customers with online statements in place of paper statements. We’ve also removed any information that is relevant only to paper statements, such as references to keeping copies of paper statements or sending statements to a physical address.

You can find the updated terms and conditions here after 30 March, 2018.

Changes to Mastercard Interchange Rates

Effective from 1 April 2018

From 1 April 2018, the Mastercard maximum interchange rate on premium cards will change as follows:

  • Consumer Elite and Consumer Super Premium 1 will reduce from 2.30% to 2.05% 
  • Consumer Super Premium 2 will reduce from 2.10% to 1.90% 
  • Consumer Premium will reduce from 2.15% to 1.90%.

If you require more information, please phone 0800 737 774.

Changes to Visa Platinum Interchange Rates

Effective from 14 April 2018

From 14 April 2018, Visa are reducing their Electronic & Platinum Standard Interchange rate from 2.10% to 1.85%, and introducing a new Platinum contactless rate of 1.45% for transactions using Paywave.

If you require more information, please phone 0800 737 774.

Changes to call centre hours in our terms and conditions

Effective from 23 March 2018

We are removing our call centre hours from our terms and conditions. Instead, we will be directing customers to our website to find out when the call centre is open.  Our call centre staff will be available from 8am-8pm, Monday to Friday, and 9am-6pm on weekends and public holidays, starting from 23 March.

This change will affect the following terms and conditions: Standard terms and conditions, Credit Card terms and conditions, Business First Visa and Business First Lite Visa terms and conditions, Corporate, Purchasing and Dynamic Card Funding Visa Cards terms and conditions, Advanced Personal Loan terms and conditions, Advanced Personal Loan terms and conditions for StepUP loans offered with the assistance of Community Partners, Personal Overdraft Agreement and YouMoney Tertiary Overdraft Agreement.

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