Update 7 March 2024: Further to our public notice dated 14 November 2023.

Our updated Personal Banking Fees & Limits brochure (effective 29 November 2023) was missing the 'Optional home loan service fees', pages 22 and 23. This has now been corrected.

Download a copy of the updated Personal Banking Fees & Limits effective from 29 November 2023.

Summary of changes

We’re introducing an additional outward international payment fee option called OUR², in addition to our current payment fee option SHA¹. And, we’re also reducing the payment fee option for SHA¹ from $20 to $10. As a result we’re updating our Personal Banking Fees and Limits and Business Banking Fees and Limits to include the following:

• NZD20 equivalent when done by internet banking with charges OUR²
• NZD35 equivalent when done person to person at your nearest Kiwibank branch or by email with charges OUR²
• NZD10 equivalent when done by internet banking with charges SHA¹.

¹ SHA fees are shared between the sender and beneficiary of the payment. Overseas bank fees will be deducted from the payment. This will mean the beneficiary receives less than you have sent.

² OUR fees are paid by the sender of the payment. You will pay an additional fee, which will be added to your payment fee to cover overseas bank fees. By choosing this option, the full amount you send should reach the beneficiary; however, this is not within Kiwibank’s control and there may be additional fees charged to the beneficiary.

Download copy of the updated Personal Banking Fees and Limits and Business Banking Fees and Limits effective from 29 November 2023.

Changes to international direct credit payments

From 29 November 2023, we’ll no longer offer international direct credit payments in Canadian Dollars. If you're wanting to make a payment to Canada in Canadian Dollars (CAD), this can still be completed as an international money transfer as this remains unchanged.

Date effective: 29 November 2023

Date published: 14 November 2023

From 20 November, we're removing the fee for credit card cash advances in New Zealand. As a result we've made changes to the Personal Banking Fees and Limits and Business Banking Fees and Limits brochures.

Summary of changes

The credit card cash advance fee for transactions made in New Zealand has been updated from $0.90 per transaction to 'free', as we'll no longer charge this fee.

Download a copy of the updated Personal Banking Fees and Limits and Business Banking Fees and Limits, effective from 20 November 2023.

Date effective: 20 November 2023

Date published: 31 October 2023

We're updating our Personal Banking and Business Banking fees and limits.

Summary of changes

Personal Banking fees and limits

• The Contact Centre and automated phone banking high usage fee will be changed to remove the automated phone banking high usage fee. Please note that the Contact Centre high usage fee will continue to be charged.
• The postal statement fee will be charged on Free Up accounts at $2 per statement, per account.

Download a copy of the updated Personal Banking Fees and Limits, effective from 1 November 2023.

Business Banking fees and limits

• The Contact Centre and automated phone banking high usage fee will be changed to remove the automated phone banking high usage fee. Please note that the Contact Centre high usage fee will continue to be charged.

Download a copy of the Business Banking Fees and Limits, effective from 1 November 2023.

Date effective: 1 November 2023

Date published: 18 October 2023

From 18 September, we'll no longer be issuing non-personalised Visa Debit Cards at our branches. You'll still be able to order a new or replacement personalised Visa Debit Card at a branch or within the mobile app. The card will then be posted to you.

We’re updating section 30 of our General Terms & Conditions brochure to reflect this change.

Download a copy of the updated General Terms & Conditions effective from 18 September 2023.

Date effective: 18 September 2023

Date published: 4 September 2023

Update December 2023: Since this public notice was first published on 14 August, the date we now expect the transition to run is from November 2023 to May 2024.

What’s changing

As part of our exciting multi-year programme of transforming our products, services and technology, we have strengthened our 10+ year partnership with NCR to take over the ownership and operations of our ATM network. NCR is the leader in ATM technology and operate Allpoint branded ATMs in New Zealand.

What this change means for you

You'll still be able to access all the same features you currently have today as well as continuing to enjoy fee-free ATM transactions. From 2024, you'll have access to a broader network of deposit capable ATMs.

All ATMs located at our Kiwibank branches will remain branded as Kiwibank, while the rest will transition to new Allpoint branding as part of this change. We expect this transition to run from mid September to April 2024.

Date effective: mid September 2023

Date published: 14 August 2023

From 1 August 2023, Kiwibank customers with a merchant facility will be able to accept in person UnionPay card payments (where the terminal hardware supports such payments). As a result, we’ve made changes to our Merchant Agreement and merchant service fees.

The service fee for acceptance of UnionPay card payments is 1.50% of the total monthly volume of sales and refund transactions. Effective 1 August 2023, once you process a payment or transaction using a UnionPay card, you're taken to have accepted the updated terms and conditions applying to UnionPay card payments, as detailed in the updated Merchant Agreement.

Download a copy of the updated Merchant Agreement, effective 1 August 2023.

Date effective: 1 August 2023

Date published: 30 June 2023

Kiwi Asset Finance Limited (KAFL) and Kiwibank Limited (Kiwibank) are amalgamating on 30 June 2023 to become one company. The continuing company will be Kiwibank.

After the amalgamation Kiwibank will replace KAFL as the creditor under KAFL’s lending products, and any reference to "Kiwi Asset Finance Limited" or “Kiwi Asset Finance” in an agreement should be read as a reference to "Kiwibank Limited".

Information for KAFL customers:

• The amalgamation will not expand Kiwibank’s security position in relation to Kiwibank and KAFL lending.
• Any existing security held by Kiwibank will continue to secure only non-asset finance obligations, and any existing security held by KAFL will continue to secure only asset finance obligations.
• Any security entered after the amalgamation will secure all past and future obligations to Kiwibank and KAFL, unless we agree otherwise.

When we talk about ‘security’, this includes guarantees.

Information for guarantors:

• If you have guaranteed the obligations of a KAFL customer, the amalgamation means that any existing guarantee granted to KAFL will continue to secure only asset finance obligations.
• Similarly, any existing guarantee granted to Kiwibank will continue to secure only non-asset finance obligations.
• Any guarantee you give us after the amalgamation will secure all past and future obligations to Kiwibank and KAFL, unless we agree otherwise.

Date effective: 30 June 2023

Date published: 15 June 2023

We’re making changes to the Lenders’ Mortgage Insurance fee, request for a basic transaction history printout at branch service and description of top-up fee. We've updated the Personal Banking Fees & Limits and Business Banking Fees & Limits as a result of the changes.

Personal Banking Fees & Limits brochure

• Kāinga Ora – Homes and Communities is reducing the Lenders’ Mortgage Insurance fee on page 20 for First Home Loans and Kāinga Whenua loans from 1% to 0.50% of the loan amount.
• The basic transaction history printout fee has been removed from page 11 as we're no longer offering this service.
• The top-up fee description on page 20 has changed to clarify that the fee applies to additional lending on an existing home loan.

Business Banking Fees & Limits brochure

• Kāinga Ora– Homes and Communities is reducing the Lenders’ Mortgage Insurance fee on page 16 for Kāinga Whenua loans from 1% to 0.50% of the loan amount.
• The basic transaction history printout fee has been removed from page 10 as we're no longer offering this service.

Download a copy of the updated Personal Banking Fees & Limits, and Business Banking Fees & Limits, effective from 1 June 2023.

Date effective: 1 June 2023

Date published: 16 May 2023

Changes to payment processing days

We’ll be processing electronic payments to and from participating New Zealand banks seven days a week (365 days a year). Currently electronic payments between New Zealand banks are processed on business days only.

From 26 May, payments will be processed on their actual due date rather than the next business day. If someone is transferring money to you, you’ll receive the funds the same day. This change will apply to automatic payments, bill payments, direct credits, direct debits, merchant settlements.

We'll also be processing home loan repayments, business loan payments, term deposit and Notice Saver payments every day of the year.

There are no changes to

• processing times for personal and business payments - these will continue to be processed between 9am and midnight and will move to seven days a week
• card transactions, as these are already processed every day
• direct debits to pay your Kiwibank credit card balance - these will continue to be processed on business days
• same-day cleared payments - these will continue to be processed on business days

As a result of this change, we’re updating the following terms and conditions brochures effective 26 May 2023:

• Kiwibank General Terms and Conditions
• Business Lending Terms and Conditions
• Personal Overdraft Terms and Conditions
• Home Loan Terms and Conditions
• Notice Saver Funds Terms and Conditions
• PIE Term Deposit Funds Terms and Conditions
• Direct Debit Initiator Terms and Conditions
• Kiwi Asset Finance Limited Business Loan Terms and Conditions

For more information visit Payments NZ website

Please note: The date for this change has moved from 22 April 2023 to 26 May 2023.

Changes to the way we can communicate with you

We’re updating the Kiwibank General Terms and Conditions to clarify the ways we can give notice under our terms, and how we may provide you with account statements. We’ve also included that sometimes we can get things wrong, and when this happens we’re determined to make them right as soon as we can.

Download a copy of the Kiwibank General Terms and Conditions effective 26 May 2023.

Date effective: 26 May 2023

Date published: 8 March 2023

As of 27 October 2022, we stopped offering the ability to set up a new Sweep, Dynamic Sweep and EasySave (also known as PayStream) service. If you already had one or more of these services, you could continue to use them.

From 31 May 2023, you'll no longer be able to use Sweep, Dynamic Sweep or EasySave on business accounts. However, you'll still be able to continue to use these services on personal and joint accounts for now.

We’re updating the Business Banking Fees & Limits brochure to reflect these changes.

Download a copy of the updated Business Banking Fees & Limits brochure effective from 31 May 2023.

Date effective: 31 May 2023

Date published: 22 February 2023

From 30 April 2023, we'll no longer offer manual fingerprinting services.

Date effective: 30 April 2023

Date published: 30 April 2021

Please note that since this public notice was first published, the date of when we will stop offering manual fingerprinting services has been brought forward to 31 March 2022.

We’re making a few changes to Personal Loan options provided by Latitude Financial Services

Changes to information on Personal Loans

We’re reducing the amount of personal loan information on our website and will direct you to the Latitude Financial Services’ website for information on features and benefits, interest rates and fees, terms and conditions and how to apply or get in touch with someone about a personal loan.

Personal Banking Fees and Limits brochure

We're also removing all personal and car loan information from our Personal Banking Fees and Limits brochure, currently detailed on page 19 of the brochure. This includes removal of the reference to the Establishment Fee, Late Payment Fee and Payment Handling Fee, currently detailed on page 19.

Download a copy of the updated Personal Banking Fees & Limits effective from 6 March 2023.

Establishment fee

The establishment fee charged by Latitude will be reducing from $240 to $199 from 6 March 2023.

Date effective: 6 March 2023

Date published: 17 February 2023

We’re updating section 11, of our General Terms & Conditions brochure, to include more information about how to set up, amend and cancel automatic payments, bill payments and direct debits.

Download a copy of the updated General Terms & Conditions.

Date effective: 16 February 2023

Date published: 2 February 2023

From 1 December 2022, we’ll no longer be charging the dishonour fee and ATM balance enquiry fee.

As a result we've made changes to the Personal Banking Fees & Limits, Business Banking Fees & Limits, and General Terms & Conditions brochures.

Personal Banking Fees & Limits brochure

• The dishonour fee has been removed from page 8 as we're no longer charging this fee.
• The ATM balance enquiry fee has been removed from page 9 as we’re no longer charging this fee.

Public notice from NZ Post

Notice to Creditors of Assignment of Guarantee from NZ Post to the Crown

New Zealand Post Limited (NZ Post) has provided a guarantee of certain payment obligations of Kiwibank Limited (Kiwibank) under a deed poll guarantee dated 22 November 2001, as amended on 16 November 2006 and 3 November 2010 and terminated by letter dated 31 October 2016 (Guarantee). Under the terms of the Guarantee, NZ Post guaranteed certain payment obligations to creditors of Kiwibank and Kiwibank’s subsidiaries that arose on or prior to the effective date of termination of the Guarantee (being 28 February 2017).

Pursuant to a deed of transfer dated 30 November 2022, NZ Post’s obligations under the Guarantee as at that date have been assigned and transferred from NZ Post to The Sovereign in right of New Zealand, acting by and through the Minister of Finance (the Crown). The assignment took effect on 30 November 2022, so on and from that date NZ Post’s obligations under the Guarantee became obligations of the Crown, rather than NZ Post. Further information can be found at kiwibank.co.nz.

Changes to investment terms and conditions

As a result of this change, the NZ Post Guarantee is now called the Crown Guarantee with effect from 30 November 2022. We're updated the following terms and conditions to reflect this change: Kiwibank Term Deposit Terms and Conditions, Kiwibank PIE Term Deposit Fund Terms and Conditions, Kiwibank PIE Online Call Fund Terms and Conditions, and the Kiwibank Notice Saver Fund Terms and Conditions.

Date effective: 30 November 2022

Date published: 1 December 2022

We're making some changes to the fees and benefits we currently offer on our Air New Zealand Airpoints™ Credit Cards. This is due to new credit card regulations which come into effect in New Zealand soon. A lot of great benefits will still remain and we've listed these under each table.

Please see the changes below for each card.

Air New Zealand Airpoints™ Low Fee Visa

From 27 October 2022, you’ll no longer be able to set up a new PayStream, Sweep, Dynamic Sweep or EasySave service. If you already have one or more of these services, you’ll be able to continue to use them.

As a result of this change, we’ve updated the Personal Banking Fees & Limits and Business Banking Fees & Limits brochures to remove all references to set up fees .

Date effective: 27 October 2022

Date published: 13 October 2022

To help reduce the risk of money laundering, from 2 September 2022 at a Kiwibank branch or Local for Kiwibank, you’ll only be able to deposit cash into your own account or into an account that you have authority to operate.

This change is applicable to Kiwibank, Kiwi Wealth and NZHL - including credit card, home loan and everyday personal and joint accounts.

Cash deposits into business accounts can continue to be made.

Receiving a cash deposit

If you regularly receive cash deposits from anyone who doesn’t have authority to operate your account, you’ll need to let them know of this change and ask them to make a payment using internet banking, mobile app, phone banking or at their bank.

Making a cash deposit

If you need to make a cash deposit into another account that you don’t have the authority to operate, you’ll need to:

1. Firstly deposit the cash into your own account. You can do this at a cash deposit ATM, in branch or at a Local for Kiwibank.
2. Once the cash deposit is in your account you can use internet banking, the mobile app or phone banking to make a payment to the recipient. You can also do this in branch or at a Local for Kiwibank.
3. If you know that you'll need to regularly pay the recipient, you can set up an automatic payment in internet banking or the mobile app.

Please note that our standard service fees may apply.

Find out how we can help you with this change.

Date effective: 2 September 2022

Date published: 7 June 2022

We'll no longer be offering a preferential rate of 12.90% p.a. on our Kiwibank Overdraft product for customers who have a Kiwibank Home Loan. If you currently have an Overdraft with the preferential rate, you'll remain on that preferential rate.

Date effective: 5 September 2022

Date published: 18 August 2022

We're making some changes to the standard interest rates of our personal loans by removing the 16.95% p.a. interest rate tier for personal loans from $10,000. There is no change if you have an existing personal loan with an interest rate of 16.95% p.a.

Find out more information on our current personal loan rates.

Date effective: 31 August 2022

Date published: 12 August 2022

From 24 August 2022, you'll no longer be able to open a new Back-Up Saver, Fast Forward Saver, First Saver or Business Performer account. If you already have one or more of these accounts, you’ll be able to continue to use them as normal for now.

As a result of this change, we’ve updated our Personal Banking fees and limits brochure (effective 24 August 2022) and Business Banking fees and limits brochure (effective 24 August 2022).

We’re also making changes to the following accounts:

Notice Saver

• The minimum balance required to open an account or earn returns is being removed (it was previously $2,000)
• The minimum age requirement is being removed, so if you're under the age of 18 you'll be able to open a Notice Saver account
• All personal and business customers (including retail societies) will be eligible to open a Notice Saver account.

As a result of these changes, we’ve updated our Notice Saver Fund Terms & Conditions (effective 24 August 2022).

Online Call

• The minimum balance required to open an account or earn interest is being removed (it was previously $2,000)
• Bonus interest is being removed and we're introducing a higher base interest rate. This means you’ll be able to make withdrawals or transfers from your account and still earn the higher rate of return
• All personal and business customers (including retail societies) will be eligible to open an Online Call account.

PIE Online Call

• The minimum balance required to open an account or earn returns is being removed (it was previously $2,000)
• The bonus rate of return is being removed and we're introducing a higher base rate of return. This means you’ll be able to make withdrawals or transfers from your account and still earn the higher rate of return
• The minimum age requirement is being removed, so if you're under the age of 18 you'll be able to open a PIE Online Call account
• All personal and business customers (including retail societies) will be eligible to open a PIE Online Call account.

As a result of these changes, we’ve updated our PIE Online Call Fund Terms & Conditions (effective 24 August 2022).

PIE Term Deposit

• The minimum age requirement is being removed, so if you're under the age of 18 you'll be able to open a PIE Term Deposit account.

Date effective: 24 August 2022

Date published: 21 July 2022

Further to our public notice dated 4 April 2022, we have now removed the references to the foreign currency cheque, draft collection fee and draft dishonour fee as we no longer offer this product:

• The foreign currency cheque or draft collection fee (NZD60 per cheque or draft) has been removed from page 17 as we're no longer offering this product.
• The foreign currency cheque or draft dishonour fee (fees may vary from bank to bank) has been removed from page 17 as we're no longer offering this product.

Download a copy of the updated Personal Banking Fees & Limits.

Date effective: 24 August 2022

Date published: 19 August 2022

Further to our public notice dated 4 April 2022, we have now removed the references to the foreign currency cheque, draft collection fee and draft dishonour fee as we no longer offer this product:

• The foreign currency cheque or draft collection fee (NZD60 per cheque or draft) has been removed from page 13 as we're no longer offering this product.
• The foreign currency cheque or draft dishonour fee (fees may vary from bank to bank) has been removed from page 13 as we're no longer offering this product.

Download a copy of the updated Business Banking Fees & Limits.

Date effective: 24 August 2022

Date published: 19 August 2022

With the upcoming changes to the Fair Trading Act 1986, we’re making small changes to some of our business banking documents to reinforce that we strive to treat all of our customers fairly and reasonably.

We’re also changing the name of our ‘Lending Terms and Conditions for Business and Rural Banking’ brochure to ‘Lending Terms and Conditions for Business Banking’. This means that any reference to ‘Lending Terms and Conditions for Business and Rural Banking’ in any of our documents or communications will be referring to the ‘Lending Terms and Conditions for Business Banking’.

We’re also updating section 7 “When can we close your Business Credit Card Account?” within our Business Credit Card Terms & Conditions to clarify that if your account is closed, fees already paid aren't refunded.

Download a copy of the updated:

• Lending Terms and Conditions for Business Banking;
• Business Credit Card Terms & Conditions;
• Direct Debit Initiator Terms and Conditions; and
• Business Banking Kiwibank Merchant Agreement.

Date effective: 16 August 2022

Date published: 01 August 2022

Deposits

Effective from Monday 18 July 2022

We're increasing our rates for new and existing customers on the following savings products:

*Changes apply to Standard, PIE and Business Online Call. The new Online Call rate will be made up of 1.50% base interest + 0.10% bonus interest.

Home lending

Effective from:

• Monday 18 July 2022 for new customers
• Monday 1 August 2022 for existing customers.

We're increasing our variable interest rates for new and existing lending on the following home loan products:

For a full list of our current interest rates, please visit our rates & fees page.

Date effective: 18 July 2022

Date published: 15 July 2022

We’re making changes to our home loan restructure fee. For details on this change, see the table below.

Home loan fee being changed

From 24 June 2022, we’ll no longer be offering the Quick Cash Deposit service in our branches, including retailers we partner with across the country to provide Kiwibank services on our behalf.

You'll still be able to deposit cash via our smart ATM's or over the counter at your nearest branch.

If you're a Kiwibank business customer, QuickPay will enable you to take EFTPOS, Visa and Mastercard payments.

Date effective: 24 June 2022

Date published: 23 May 2022

From 13 June 2022, we're changing how we describe the personal credit card international transaction fee. The fee hasn't changed, we're providing more clarity around the way we describe the fee. This is outlined below:

Deposits

We're increasing our rates for new and existing customers on the following savings products:

Home lending

Effective from:

• Monday 30 May 2022 for new customers
• Monday 13 June 2022 for existing customers.

We're increasing our variable interest rates for new and existing lending on the following home loan products:

For a full list of our current interest rates, please visit our rates & fees page.

Date effective: 30 May 2022

Date published: 27 May 2022

Further to our public notice dated 4 April 2022, we have now removed the references to the foreign currency cheque, draft collection fee and draft dishonour fee as we no longer offer this product:

• Section 30 ‘What if you want to deposit a foreign currency cheque?’ has been removed from page 32 as we're no longer offering this product.
• We’ve updated the section number references in sections 1, 31, 41, 48 and 52 within the General Terms & Conditions brochure.

In addition to this change, we have also fixed the duplication of the word ‘limited liability trustee’ in the definition section on page 46.

Download a copy of the updated General Terms & Conditions.

Date effective: 29 April 2022

Date published: 19 August 2022

• The foreign currency cheque or draft collection fee (NZD60 per cheque or draft) has been removed from page 13 as we're no longer offering this product.
• The foreign currency cheque or draft dishonour fee (fees may vary from bank to bank) has been removed from page 13 as we're no longer offering this product.

Download a copy of the updated Personal Banking Fees & Limits.

Date effective: 29 April 2022

Date published: 4 April 2022

• The foreign currency cheque or draft collection fee (NZD60 per cheque or draft) has been removed from page 11 as we're no longer offering this product.
• The foreign currency cheque or draft dishonour fee (fees may vary from bank to bank) has been removed from page 11 as we're no longer offering this product.

Download a copy of the updated Business Banking Fees & Limits.

Date effective: 29 April 2022

Date published: 4 April 2022

• Section 30 ‘What if you want to deposit a foreign currency cheque?’ has been removed from page 25 as we're no longer offering this product.
• We’ve updated the section number references in sections 1, 31, 41, 48 and 52 within the General Terms & Conditions brochure.

Download a copy of the updated General Terms & Conditions.

Date effective: 29 April 2022

Date published: 4 April 2022

From 29 April 2022, we’ll no longer accept foreign cheques or international bank drafts. Find out more about the changes on our cheques page.

Date effective: 29 April 2022

Date published: 28 October 2021

Further to our public notice dated 30 April 2021, we will no longer offer manual fingerprinting services from 31 March 2022 (not 30 April 2023, as originally stated).

Date effective: 31 March 2022

Date published: 10 December 2021

We're providing more clarity around the way we communicate and disclose information to you on your overdraft account.

Summary of changes:

• We've updated the section on continuing disclosure statements to outline how we will send you information about your overdraft
• We've updated the section on making payments and removed the option to make payments by mailing a cheque
• We've removed the option to use your local New Zealand Postshop for any enquiry on your overdraft account.

Download the new version of the Overdraft Terms and Conditions.

Date effective: 15 February 2022

Date published: 25 January 2022

Changes to our Business Banking Fees and Limits brochure

Effective from 10 January 2022

We've updated the table of fees displayed in our Business Banking Fees and Limits brochure to clarify the debit international transaction fee. It now reads as follows:

ATMs, EFTPOS card and Visa Debit Card fees

We're making some changes to some of our business lending documents.

Summary of changes

Kiwibank Business Banking overdraft letter

Within this letter we’ve updated the definition of Overdraft Limit to include the following wording:

"We can reduce the Overdraft Limit at any time and for any reason. We’ll give you advance notice of this if we think it is appropriate in the circumstances. Otherwise we’ll give you notice as soon as reasonably practical afterwards."

While we've always had the right to reduce the overdraft limit at any time, we've made changes to how and when we give notice

Loan agreement

Within this agreement we've updated:

• the revolving credit loan section titled “Cancellation of unused portion”; and
• the Wholesale revolving credit loan (BKBM) section titled “Cancellation of unused portion”.

These sections now contain the following wording:

"Kiwibank may, at any time cancel any portion of the loan limit that exceeds the amount outstanding under the loan. We’ll give you advance notice of this if we think it is appropriate in the circumstances. Otherwise we’ll give you notice as soon as reasonably practical afterwards."

While we've always had the right to cancel any portion of the loan limit exceeding the drawn amount at any time, we've made changes to how and when we give notice.

Date effective: 6 December 2021

Date published: 22 November 2021

• The investigation fee when you ask us to investigate something about your credit card account ($60 per hour, Minimum fee $15) has been removed from page 10.
• We’ve added a description of the account fee on pages 10 and 11 to clarify that the fee relates to our costs of administrating and supporting your card and providing any benefits available on your card.
• The account fee (every six months) for Low Rate Visa will change from $15 to $0, this has been amended on page 10.
• The Joint/Additional cardholder account fee (every six months) for Low Rate Visa will change from $5 per card to $0, this has been amended on page 11.
• All references to Mastercard™ have been removed as all Mastercard products have been replaced by Visa products.

Download a copy of the updated Personal Banking Fees & Limits.

Date effective: 24 November 2021

Date published: 19 October 2021

• We’ve expanded on the description of what happens if you request a transfer to a different Kiwibank Credit Card on page 4.
• We've clarified in clauses 2 and 3 that when you ask us to close your card account or we exercise our right to close your card account, it will be closed without any refund of card account fees that you’ve already paid.
• For Airpoints cards, we’ve added a new section 22 that sets out which transactions are not eligible to earn Airpoints dollars. This includes gambling transactions (including online gambling).
• We've updated section 11 to clarify how interest rate changes will apply to your statements, as well as an explanation on how we calculate interest on transactions.
• We’ve updated the section number references in sections 2, 3, 4, 6, 9 and 19 within the Credit Card Terms & Conditions brochure.

Download a copy of the updated Credit Card Terms & Conditions. Effective from 24 November 2021.

Date effective from: 24 November 2021

Date published: 19 October 2021

We’re making some changes to our credit cards.

Summary of changes

Low Rate Visa

• From 24 November 2021, we’ll stop offering the Low Rate Visa.
• If you’re an existing cardholder, from 24 November 2021, the account fee (every six months) will change from $15 to $0, and the interest rate on purchases and cash advances will change from 9.95% p.a. to 12.90%. p.a. You can continue to use your card until its expiry date. We'll then send you a Zero Visa to replace your current card. All your existing account details including your card and account number will remain the same (unless your card has been lost or stolen).

Zero Visa

• From 24 November 2021, the interest rate on purchases and cash advances will drop from 13.95% p.a. to 12.90% p.a.

Platinum Visa

• From 24 November 2021, we’ll stop offering the Platinum Visa.
• If you’re an existing cardholder, you can continue to use your card as usual.

Air New Zealand Airpoints Low Fee Visa

• From 24 November 2021, the interest rate on cash advances will drop from 22.95% p.a. to 16.90% p.a.

Air New Zealand Airpoints Standard Visa

• From 24 November 2021, we’ll stop offering the Air New Zealand Airpoints Standard Visa.
• If you’re an existing cardholder, you can continue to use your card as usual.
• From 24 November 2021, the interest rate on cash advances will drop from 22.95% p.a. to 20.95% p.a.

Air New Zealand Airpoints Platinum Visa

• From 24 November 2021, the interest rate on cash advances will drop from 22.95% p.a. to 20.95% p.a.
• The Airpoints Dollar earn rate for Airpoints Platinum will change from 1 Airpoints Dollar for every $75 spent on eligible purchases to 1 Airpoints Dollar for every $85 spent on eligible purchases.

Date effective: 1 June 2021

Date published: 19 October 2021

We’re updating the Kiwibank Credit Cards webpage and the Travel Insurance Policy Wording to reflect a change in claims management.

Summary of the changes

Tower Limited have partnered with Allianz Partners to provide call centre services and manage claims for travel insurance policies available for selected Kiwibank Credit Cards. This means that Allianz Partners will now receive customer calls for emergency assistance, policy enquiries, claim enquires, medical screenings, duration and additional baggage enquires.

Prior to this, Healix received calls for emergency assistance, medical screenings and baggage enquiries while Tower received calls for policy enquires, duration extensions and claim enquires.

We are updating the relevant Travel Insurance section for Kiwibank Credit Cards webpage to reflect this change:

• Replacing or diverting 0800 numbers that went to Healix or Tower with 0800 numbers to go to Allianz Partners
• Important Information section on the webpage is being updated to reflect the Tower / Allianz partnership and introduce AWP Services New Zealand Limited trading as Allianz Partners. The change will read:

Travel Insurance for Insured Cards is underwritten by Tower Limited and managed by AWP Services New Zealand Limited trading as Allianz Partners (FSP758611). If you arrange your insurance through Kiwibank, you need to know that Kiwibank Limited doesn’t guarantee the obligations of, or any products provided by Tower Limited or AWP Services New Zealand Limited. Important terms, conditions and exclusions are set out in the Travel Insurance for Kiwibank Credit Cards Policy wording.

We are also updating the Travel Insurance Policy Wording to reflect this change and other minor changes:

• Important Information section in the policy wording is being updated to reflect the Tower / Allianz partnership and introduce AWP Services New Zealand Limited trading as Allianz Partners.

Travel Insurance for Insured Cards is underwritten by Tower Limited and managed by AWP Services New Zealand Limited trading as Allianz Partners (FSP758611). Tower Limited through AWP Services New Zealand Limited trading as Allianz Partners is solely responsible for any claims under the policy. Kiwibank Limited (including its related companies) doesn’t guarantee the obligations of, or any products provided by Tower Limited, AWP Services New Zealand Limited trading as Allianz Partners or its related companies.

• Provide more transparency by adding the following sections under the Important Information in the policy wording:

Fair Insurance Code

Dispute Resolution Process

Privacy Notice

Privacy Act 2020 and the Insurance Claims Register (ICR)

• Align copy to safe travel’s updated alert names (previously it was ‘extreme risk’ and is now called ‘do not travel’)
• Update the trading name of Tower Insurance Limited to Tower Limited

Date effective: 6 October 2021

Date published: 15 December 2021

We're making some minor changes to the Kiwibank Privacy Policy to reflect the definition of Kiwibank Limited to include successors, assignees, transferees and authorised agents.

Download a copy of our new Privacy Policy effective from 25 August 2021.

Date effective: 25 August 2021

Date published: 11 August 2021

We’ve made some changes to our Home Loan Terms and Conditions and Home Loan Summary. This includes simplifying the content and terminology. For example, where we previously said ‘portions and components’, we’ve now gone with the simpler term of ‘loans’. The changes we’ve made won’t affect the way your home loan currently operates.

We’ve included a summary of the changes to the Home Loan Terms and Conditions below.

Summary of changes

Electronic consent

We’ve updated how we communicate with you, including that you may receive key information electronically. Put simply, we can now send any updates electronically, instead of by mail. All you’ll need to do is make sure your email address is up to date. You can do that in internet banking or the mobile app under ‘Settings’. To find out more, see section 13 ‘How do we communicate with you?’, within the new Home Loan Terms and Conditions brochure.

Offset ratio

If you have a term loan with an offset variable rate, we’ve introduced an offset ratio, so the benefit of your offset product may change in the future. The current ratio is set at ‘1’ (meaning that for every $1 held in an offset account, $1 of lending is offset). There's no change to the current offset ratio. If we decide to change it in the future, you'll be notified in advance of the changes. To find out more, see section 4 ‘What interest do you pay on your loan?’, within the new Home Loan Terms and Conditions brochure.

Payments and top ups

We’ve included additional information about how you can:

• make payments on your loan, including when you can make lump sum payments
• top up your home loan
• change the amount of your regular payments.

Download a copy of the updated Home Loan Terms and Conditions and the sample Home Loan Summary. Both are effective from 25 August 2021.

Please note that the sample Home Loan Summary doesn’t include any customer specific lending information or figures.

Date effective: 25 August 2021

Date published: 4 August 2021

Summary of changes

We're moving all our business credit card customers from the Business Mastercard® to the Business Low Rate Visa. The Business Low Rate Visa will have a different card design, improved statement design and will include a new benefit, Corporate Liability Waiver Insurance.

From 3 August 2021:

• Business credit card customers will move from Mastercard cards to Visa cards and the product name will change from Business Mastercard to Business Low Rate Visa.
• You'll see an improved business credit card statement design. Customers will be sent the new design on their next billing date.
• Corporate Liability Waiver Insurance cover will commence for all business credit card customers.

We'll communicate with our business credit card customers leading up to the move to Visa to ensure they're informed and have the information they need to complete the move.

Find out more about our new Business Low Rate Visa.

You can find information about our Business Mastercard on our products no longer offered page.

Date effective: 3 August 2021

Date published: 5 July 2021

We’re changing our current Kiwibank Credit Card Terms and Conditions and introducing new business credit card terms and conditions.

If you applied for a Kiwibank Credit Card before 5 July 2021, the new Credit Card Terms and Conditions and new Business Banking Terms and Conditions will be effective from 2 August 2021.

Summary of changes

Credit Card Terms and Conditions

• We're removing our Business Credit Card from our Credit Card Terms and Conditions
• We’ve removed section 7. Business Card Limits, which applied to Business Credit Cards.
• The new Kiwibank Credit Card Terms and Conditions will be effective from 2 August 2021.

New Business Credit Card Terms and Conditions

• Business Credit Card Terms and Conditions will be introduced for all Kiwibank Business Credit Card customers.
• We've made the following changes to improve the clarity of when and how these terms apply in relation to Business Credit Cards:
  • The accounts and structure of a Business Credit Card has been defined at the beginning of the document under section 1. Definitions.
  • Current terms from the Kiwibank Credit Card Terms and Conditions have been updated to include the Business Credit Card specific definitions.
  • Terms that are specific to personal Kiwibank Credit Cards and that don't apply to Business Credit Cards will remain in the current Kiwibank Credit Card Terms and Conditions.
• We’ve added Section 19. Corporate Liability Waiver Insurance, a new benefit to our Business Low Rate Visa customers.
• The new Kiwibank Business Credit Card Terms and Conditions will be effective from 2 August 2021.

Download the updated Kiwibank Credit Card Terms Conditions or the new Business Credit Card Terms and Conditions. Both are effective from 2 August 2021.

Date effective: 2 August 2021

Date published: 5 July 2021

On Tuesday 5 July 2021, we're updating our Personal Banking Fees and limits brochure, Business Banking Fees and Limits brochure and NZHL Fees and Limits brochure, along with our website to include the Overseas ATM Transaction Decline Fee.

When you use your ATM/EFTPOS card or Visa Debit Card at an overseas ATM and the transaction is declined, you’re charged $1 per declined transaction.

Date effective: 5 July 2021

Date published: 21 June 2021

We've made changes to some of our Business Mastercard fees. These changes were effective from 5 July 2021.

The changes have been summarised below. See full descriptions of when each fee is applicable.

Business Mastercard fees being removed

We’ve updated our Home Loan Terms and Conditions. The change was effective from 1 June 2021.

Summary of change

We’ve replaced Section 2 – “When can your home loan documents change?” with the following wording:

"Your home loan agreement and these terms give us the right to make specific changes to your home loan agreement. For example, our right to reduce or cancel the maximum credit limit on an ongoing revolving portion.

In addition, we can change your home loan agreement, these terms and our fees n' limits brochure at any time, but we must give at least 14 days' notice before you are bound by the change.

Our general terms explain how those terms and conditions can be changed."

The words in bold have a specific meaning. You can find out the meaning of these words in our Home Loan Terms and Conditions.

The change makes it easier for us to roll out new and improved documents. While the change gives us a broader right to make changes, we’ll continue to treat you fairly and not use this right in an unreasonable manner.

Download a copy of the updated Home Loan Terms and Conditions effective from 1 June 2021.

Effective from: 1 June 2021

Date published: 17 May 2021

Update September 2023: Please note - since this public notice was published, we've removed policy wordings from our website.

You'll find more information about Credit Card Repayment Insurance on our products no longer offered page.

We've made the decision to stop offering Credit Card Repayment Insurance from 1 April 2021. Customers will no longer be able to apply for Credit Card Repayment Insurance when opening a new Kiwibank Credit Card account.

If you’re an existing Credit Card Repayment Insurance policy owner, your cover will remain in place. However, if you decide to change your Kiwibank Credit Card type or set up a joint credit card from 30 April 2021, your Credit Card Repayment Insurance cover will end and you won't be able to apply for Credit Card Repayment Insurance on your new card.

Kiwi Insurance has made the following changes to the Credit Card Repayment Insurance Cover wording to reflect this:

• Removal of the following paragraph which was on page 7 of the previous cover wording:

Kiwibank will set up a new Kiwibank Credit Card account for your new Kiwibank Credit Card. If the policy owner chooses to have Credit Card Repayment Insurance, Kiwibank will set up a new Credit Card Repayment Insurance agreement. The standard terms and conditions will apply.

• Minor wording changes to the Cardholder descriptor on page 7 of the previous cover wording.

Effective from: 1 April 2021

Date published: 25 February 2021

We've made some changes to our Membership Packages for partners including Mates Rates and Public Service Association (PSA) packages:

• From 1 April 2021: We've stopped offering Membership Packages to new customers
• From 1 April 2022: We will no longer offer Membership Packages benefits to existing customers.

For more information about the changes, visit our products no longer offered page.

Effective from: 1 April 2021

Date published: 10 December 2020

From Thursday 25 March 2021, we've stopped offering Bill Blaster, Front Runner and Now accounts.

This means from this date, you won’t be able to open a Bill Blaster, Front Runner or Now account. If you currently have a Bill Blaster, Front Runner or Now account, you'll be able to continue to use your account(s).

We've simplified our offering to one everyday account; Free Up account. Free Up has been our most popular everyday account with no monthly account or electronic transaction fees.

As a result of this change, we’re updating our Personal Banking fees and limits brochure. Our updated Personal Banking fees and limits brochure (PDF 191.9 KB) (effective 25 March 2021) will reflect these changes.

Effective from: 25 March 2021

Date published: 11 March 2021

We’ve updated the Personal Loans terms and conditions and the Personal Loans Repayment Protection Insurance Policy to include the Prescribed Statement Disclosure below as required under the Financial Markets Act 2013.

Prescribed Statement Disclosure – Latitude Financial Services Limited – Personal Loans

Kiwibank Personal Loans are provided by Latitude Financial Services Limited (Latitude). You are protected by responsible lending laws. Because of these protections, the recommendations given to you by Latitude about personal loans, credit cards and any credit related insurance products are not regulated financial advice. This means that duties and requirements imposed on people who give financial advice do not apply to these recommendations. This includes a duty to comply with a code of conduct and a requirement to be licensed.

Prescribed Statement Disclosure – Latitude Financial Services Limited – Personal Loans Repayment Protection Insurance

You are protected by responsible lending laws. Because of these protections, the recommendations given to you about any credit related insurance products are not regulated financial advice. This means that duties and requirements imposed on people who give financial advice do not apply to these recommendations. This includes a duty to comply with a code of conduct and a requirement to be licensed.

Download a copy of the updated Personal Loans terms and conditions (PDF 144.0 KB) effective from 15 March 2021. A copy of the updated Personal Loans Repayment Protection Insurance Policy will be made available upon request on 0800 549 454.

Effective from: 15 March 2021

Date published: 15 March 2021

Notice Saver

The rate of return for Notice Saver can change at any time and without notice. This means the rate might go up or down during your investment. From 1 March 2021 the following rates apply:

*Minimum Investment $2,000

Kiwibank Notice Saver is a fund within a Portfolio Investment Entity (PIE). Units in Kiwibank Notice Saver are issued by Kiwibank Investment Management Limited and are distributed by Kiwibank Limited. Download the Terms and Conditions for Kiwibank Notice Saver.

Units in the Kiwibank PIE Online Call Fund are distributed by Kiwibank Limited and are issued by Kiwibank Investment Management Limited. Download the Terms and Conditions for the Kiwibank PIE Online Call Fund.

We've updated our Personal Banking fees and limits brochure.

Summary of changes:

From 1 February 2021, we no longer offer our Tertiary and Graduate Packs. Our updated Personal Banking fees and limits brochure (effective 1 February 2021) reflects these changes and was released on 12 February 2021.

For more information, please refer to the public notice below regarding changes to our student packages.

We've made changes to our Tertiary Pack and Graduate Pack. From 1 February 2021:

• We no longer offer our Tertiary Pack or Graduate Pack to customers
• Customers with a Tertiary Pack or Graduate Pack won't be able to extend it past the agreed expiry date.

If you're currently on a Tertiary Pack or Graduate Pack, your benefits will continue until the agreed expiry date. Graduate Pack customers with established personal loans keep the agreed rate until the term of their loan expires.