2018
Home loan fees and terms & conditions
We've made changes to some of our home loan fees and our home loan terms and conditions. These changes were effective from 17 December 2018. Download an updated copy of our Personal Banking fees and limits brochure and our home loan terms and conditions. The changes have been summarised below.
Changes to home loan terms & conditions
Effective 17 December 2018 we've updated our home loan terms and conditions to reflect the removal of the Low Equity fee. See Section 16, "What Fees and Costs Do You Pay?". Download the home loan terms and conditions effective 17 December 2018.
Home loan fees removed
|
Fee type |
Old fee |
New fee |
|---|---|---|
|
Application fee |
$250 |
Removed |
|
Demand fee – Insurer premiums |
$50 |
Removed |
|
Discharge of security fee – urgent |
$50 |
Removed |
|
Low Equity fee |
Varies depending on LVR |
Removed |
Home loan fees reduced
|
Fee type |
Old fee |
New fee |
|---|---|---|
|
Demand fee – Default |
$50 |
$12 |
|
Demand fee – Rates |
$50 |
$12 |
|
Discharge of security fee |
$75 |
$30 – full discharge* $70 – partial discharge* |
|
Loan restructure fee |
$175 |
$30 – simple request* $135 – complex request* |
|
Settlement Statement fee |
$45 |
$15 |
|
Top Up fee |
$200 |
$185 |
* Full descriptions of when each fee is applicable can be found in the updated Personal Banking fees and limits brochure.
Credit card terms & conditions
We’ve made changes to some of our credit card fees for our personal customers and our credit card terms and conditions. These changes were effective from 15 October 2018. Download an updated copy of our Personal Banking fees and limits brochure and our credit card terms and conditions. The changes have been summarised below.
Changes to credit card terms & conditions
The credit card terms and conditions changes clarify when you’ll need to reduce a positive balance on your account, refer to Clause 6 "Your credit limit and positive balances".
Credit card fees removed
|
Fee type |
Old fee |
New fee |
|---|---|---|
|
Over limit fee |
$5 |
$0 |
|
Statement copy fee |
$5 |
$0 |
|
Voucher copy fee |
$15 |
$0 |
|
Contact centre high use fee |
Variable |
$0 |
|
Emergency cash advance overseas |
$52 |
$0 |
Credit card fees changed
|
Fee type |
Old fee |
New fee |
|---|---|---|
|
Low Rate Mastercard® account fee |
$25 every six months |
$24 every six months |
|
Domestic cash advance fee |
$1 per transaction |
$0.90 per transaction |
|
Late payment fee |
$3 per late payment |
$5 per late payment |
|
Replacement card fee |
$10 per request |
$9.50 per request |
|
Urgent card delivery fee to a New Zealand address |
$25 for metro deliveries; applicable courier charges elsewhere |
$2.60 per delivery |
We’ve updated our General Terms and Conditions. A summary of the changes are:
- Changes to assist us to comply with the new Code of Banking Practice;
- Changes to clarify your and our rights and obligations in relation to certain products and services (including cards, internet and mobile banking and phone banking), and when your information may be disclosed;
- Minor wording changes on the information we hold about you, internet banking, mobile banking and phone banking;
- When you request certain transactions or changes within internet banking or our mobile app we may require you to enter a One Time PIN sent to your mobile number before we will process the request. The main change is set out in section 51.
These changes were effective from 1 June 2018. Download a copy of the new General Terms and Conditions brochure.
Our international bank draft service is now unavailable, effective Tuesday, 1 May 2018. You'll still be able to stop an international bank draft but we won't be able to issue you a replacement or a new draft.
More archived public notices
For public notices from other years, see archived public notices.