Changes to BNZ credit card terms and conditions
Effective from 28 August 2024
Loyalty NZ has announced that Flybuys will be closing at the end of the year. As a result, we’re making changes to our BNZ credit card terms and conditions to reflect the withdrawal of the Flybuys Rewards Programme, and that the BNZ Rewards Programme is the only rewards programme available. We’re also removing references to automatic monthly cash back redemption and voucher copy fee.
The changes we’re making include:
- deleting “Flybuys Membership terms and conditions”, “Flybuys Points Reward Programme”, “Programme Provider”, “Rewards Points”, and amending “Reward Earner” from clause 1 (Definitions)
- adding a new defined term “Advantage Credit Card Account” to clarify that the BNZ Points are earned on eligible purchases made on an Advantage credit card account
- adding a new defined term “Cashback Redemption Account” which means a BNZ account we allow you to receive cash back to (until further notice, only Advantage Credit Card Accounts are Cashback Redemption Accounts)
- updating clause 7 (Card Switches) to refer to one rewards programme and removing clauses explaining what happens when a customer switches rewards programmes
- removing reference to “Voucher copy fees” at clause 8.10 as we no longer charge this fee
- amending clauses 19.16(a) to (c) (now clauses 18.24(a) to (c)) to clarify that additional conditions relating to redeeming BNZ Points for cash back are available on our website or the BNZ Rewards Portal, cash back may be made to a Cashback Redemption Account you nominate, and will be subject to the terms and conditions applicable to that account
- deleting clause 19.16(d) which customers could choose to automatically redeem cash back monthly
- amending clauses 18 and 19 throughout to remove all references to Flybuys Rewards Programme or two rewards programmes
- merging clauses 18 and 19 into one clause
- deleting clause 20 relating to the terms and conditions for the collection of Flybuys Points
- making clarifying or formatting changes.
View our current BNZ credit card terms and conditions (PDF 251KB).
View our updated BNZ credit card terms and conditions (PDF 298KB), effective from 28 August 2024.
For more information, visit any BNZ branch, or call us on 0800 275 269.
Changes to business fee guide
Effective from 15 July 2024
We’re making changes to our Business and Agribusiness account and service fees guide.
The changes include:
- clarifying the account name for Current Accounts with Market Connect overdrafts – on page 2
- changing Business First Control Visa credit card facility name to Purchasing card* – on page 5
- adding the International Trade Finance fees schedule, previously a separate document – on pages 9 and 10
- correcting minor typographical errors, and making other clarifying or formatting changes.
*From the effective date, when a Business First Control Visa card expires or is replaced, the design of the plastic card will change to the Purchasing card design. All other features will remain the same.
View our current Business and Agribusiness account and service fees guide (PDF 146KB).
View our updated Business and Agribusiness account and service fees guide (PDF 143KB), effective from 15 July 2024.
For more information, visit any BNZ branch or call us on 0800 275 269.
Changes to Master Privacy Policy
Effective from 1 May 2024
As part of the sale of BNZ Investment Services Limited, we’ve reviewed our Master Privacy Policy. We’re making some minor wording changes to improve it and to reflect the sale. These updates seek to increase transparency, and accommodate changes to our business, operating environment, and the products and services we offer.
The changes include:
- amending and clarifying existing wording
- adding additional examples about how we use and share personal information, which may not be sufficiently covered by the existing wording.
If you have any questions about our Master Privacy Policy, call us on 0800 275 269 or visit a branch.
Changes to personal and business fee guides
Effective from 22 March 2024
We’re making changes to our personal and business fee guides.
Personal account, service, and facility fees
The changes include:
- increasing the electronic credit recovery fee from $40 to $43 on page 6, previously on page 7
- changing the base interest rate for Rapid Save accounts with unarranged overdrafts from the Bank’s Overdraft Base Rate (12.15% p.a. as at 22 March 2024) to the Bank’s personal overdraft base rate (13.70% p.a. as at 22 March 2024), on page 8
View the current interest rates for unarranged overdrafts on our Rapid Save account - correcting minor typographical errors, and making other clarifying or formatting changes.
View our current Personal, service, and facility fees guide (PDF 126KB)
View our updated Personal, service, and facility fees guide (PDF 95KB), effective from 22 March 2024
Business and Agribusiness account and service fees
The changes include:
- changing the base interest rate for Rapid Save accounts with unarranged overdrafts from the Bank’s Overdraft Base Rate (12.15% p.a. as at 22 March 2024) to the Bank’s personal overdraft base rate (13.70% p.a. as at 22 March 2024), on page 2
View the current interest rates for unarranged overdrafts on our Rapid Save account - increasing the electronic credit recovery fee from $40 to $43 on page 8
- correcting minor typographical errors, and making other clarifying or formatting changes.
View our current Business and Agribusiness account and service fees (PDF 151KB)
View our updated Business and Agribusiness account and service fees (PDF 138KB), effective from 22 March 2024
For more information, visit any BNZ branch, or call us on 0800 275 269.
Retirement of the Capped portion for Customised Average Rate Loan (CARLs)
Effective from 21 March 2024
Due to very low customer demand for the Capped portion of the CARLs, we’ve simplified the CARL offering, and the Capped portion will no longer be available.
A CARL can still be made up of:
- a Floating portion
- up to ten Fixed portions.
For further assistance, please contact your BNZ Partner or email a Markets Specialist at bnz.markets.interest.rate.solutions@bnz.co.nz