2022
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 and Limits, Business Banking Fees and Limits, and General Terms and 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.
|
Fee type |
Old fee |
From 1 December 2022 |
|---|---|---|
|
Dishonour fee |
$2.50 per payment not made |
Fee removed |
|
ATM balance enquiry fee |
$0.50 per balance enquiry |
Fee removed |
Business Banking Fees & Limits brochure
- The dishonour fee has been removed from page 7 as we're no longer charging this fee.
|
Fee type |
Old fee |
New fee |
|---|---|---|
|
Dishonour fee |
$2.50 per payment not made |
Removed |
General Terms & Conditions brochure
- We’ve removed mentions of the dishonour fee from sections 10 and 11 as we're no longer charging this fee.
Download a copy of the updated Personal Banking Fees and Limits, Business Banking Fees and Limits, and General Terms and Conditions, effective from 1 December 2022.
Date effective: 1 December 2022
Date published: 9 November 2022
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 & 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
|
Fees & benefits |
Currently |
From 1 November 2022 |
|---|---|---|
|
Account fee (every six months) |
$12.50 |
$25 |
|
Airpoints Dollar™ earn rate on eligible purchases1 |
$160 spend = 1 Airpoints Dollar |
$200 spend = 1 Airpoints Dollar |
|
Earn Airpoints Dollars at a higher rate when you purchase Air New Zealand products directly from Air New Zealand |
$140 spend = 1 Airpoints Dollar |
No longer offered The new earn rate of $200 spend = 1 Airpoints Dollar will apply to all eligible purchases1 |
|
Airpoints Dollars Advance |
No advance |
Access in advance up to 100 additional Airpoints Dollars |
|
Access to Air New Zealand monthly prize draws |
Currently offered |
No longer offered |
The following benefits aren't changing on our Air New Zealand Airpoints™ Low Fee Visa:
- Exclusive access to purchase additional Airpoints Dollars
- Non-expiry of Airpoints Dollars as long as you still have your card
- No limit on the number of points that can be earned.
Air New Zealand Airpoints™ Platinum Visa
From 1 November 2022, the following changes will apply:
|
Fees & benefits |
Currently |
From 1 November 2022 |
|---|---|---|
|
Account fee (every six months) |
$75 |
$90 |
|
Airpoints Dollar™ earn rate on eligible purchases1 |
$85 spend = 1 Airpoints Dollar |
$115 spend = 1 Airpoints Dollar |
|
Earn Airpoints Dollars at a higher rate when you purchase Air New Zealand products directly from Air New Zealand |
$65 spend = 1 Airpoints Dollar |
No longer offered The new earn rate of $115 spend = 1 Airpoints Dollar will apply to all eligible purchases1 |
|
Complimentary Air New Zealand Lounge eVouchers |
Two complimentary single-entry Lounge eVouchers for every $30,000 spent on your card in each year. The maximum number of Lounge eVouchers that can be earned in each 12-month period will be four i.e., two pairs2 |
No longer offered |
|
Access to Air New Zealand monthly prize draws |
Currently offered |
No longer offered |
The following benefits aren't changing on our Air New Zealand Airpoints™ Platinum Visa:
- Best Status Point earn rate (1 status point for every $200 spent on eligible purchases1)
- Built-in travel insurance for trips up to 40 days including selected cover for epidemic and pandemic diseases, including Covid-19
- Koru membership discounts – pay no joining fee and enjoy $145 off the annual fee
- Airpoints Dollar advance of up to 200 Airpoints Dollars
- Exclusive access to purchase additional Airpoints Dollars
- Non-expiry of Airpoints Dollars as long as you still have your card
- No limit on the number of points that can be earned.
Air New Zealand Airpoints™ Standard Visa
From 1 November 2022, if you're an existing cardholder the following changes will apply to you:
|
Fees & benefits |
Currently |
From 1 November 2022 |
|---|---|---|
|
Account fee (every six months) |
$32.50 |
$25 |
|
Joint/additional cardholder account fee (every six months) |
$10 |
$5 |
|
Interest rate on purchases and cash advances |
20.95% p.a. |
16.90% p.a. |
|
Airpoints Dollar™ earn rate on eligible purchases1 |
$120 spend = 1 Airpoints Dollar |
$200 spend = 1 Airpoints Dollar |
|
Earn Airpoints Dollars at a higher rate when you purchase Air New Zealand products directly from Air New Zealand |
$100 spend = 1 Airpoints Dollar |
No longer offered The new earn rate of $200 spend = 1 Airpoints Dollar will apply to all eligible purchases1 |
|
Complimentary Air New Zealand Lounge eVouchers |
Two complimentary Air New Zealand Lounge eVouchers each year, when you spend $30,000 or more on eligible purchases2 |
No longer offered |
|
Access to Air New Zealand monthly prize draws |
Currently offered |
No longer offered |
The following benefits aren't changing on our Air New Zealand Airpoints™ Standard Visa:
- Airpoints Dollar advance of up to 100 Airpoints Dollars
- Exclusive access to purchase additional Airpoints Dollars
- Non-expiry of Airpoints Dollars as long as you still have your card
- No limit on the number of points that can be earned.
1Eligible purchases exclude fees or interest, balance transfers, credit card repayment insurance, gambling chips, gambling transactions (including online gambling), money orders, travellers cheques or foreign currencies in cash, cash advances or cash withdrawals made from an ATM, or any transaction that is reversed, refunded, or charged back.
2eVouchers will be valid until the date of expiry as shown on the voucher.
Common questions
How do I find out when my existing Lounge eVouchers will expire?
Your existing eVouchers will remain valid up until their current expiry and you'll still be able to earn eVouchers until 1 November 2022. You can find the expiry date for your Lounge eVoucher(s) by downloading the Air NZ mobile app, clicking the 'Airpoints' tab and scrolling down to ‘Your benefits’.
What are my options if the credit card I have is no longer suitable?
If you'd like to change your credit card or request to close your credit card account, complete our credit card update form. Changing your card type or closing your account may mean the benefits of non-expiry of airpoints, built-in travel insurance, and/or credit card repayment insurance will no longer be available.
Find out more about making changes to your credit card account.
How can I get in touch if I've got more questions?
You can send us a secure mail via internet banking or the mobile app.
Date effective: 1 November 2022
Date published: 4 October 2022
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 and Limits and Business Banking Fees and Limits brochures to remove all references to set up fees.
Date effective: 27 October 2022
Date published: 13 October 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
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:
- 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.
- 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.
- 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'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 and 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 and 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 and 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 and 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 and 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 and 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:
|
Product |
Previous rate (incl bonus) |
New rate (incl bonus) |
|---|---|---|
|
90 Day Notice Saver |
2.50% p.a. |
2.85% p.a. |
|
32 Day Notice Saver |
1.65% p.a. |
2.00% p.a. |
|
Online Call* |
1.30% p.a. |
1.60% p.a. |
*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:
|
Product |
Previous rate |
New rate |
|---|---|---|
|
Term loan - Variable |
5.50% p.a. |
6.00% p.a. |
|
Term loan - Offset variable |
5.50% p.a. |
6.00% p.a. |
|
Revolving loan |
5.55% p.a. |
6.05% p.a. |
For a full list of our current interest rates, please visit our rates and 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
|
Fee type |
Old fee |
New fee |
|---|---|---|
|
Loan restructure fee – for requests* relating to:
|
$50 |
$0 |
*See full descriptions of when each fee is applicable.
Download a copy of the updated Personal Banking Fees and Limits which includes this fee change, effective from 18 July 2022.
Date effective: 18 July 2022
Date published: 4 July 2022
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:
|
International transaction fee |
When you use your credit card for a foreign currency transaction. 1.85% of the New Zealand dollar amount once converted. This will show on your internet banking and the mobile app as:
|
Download a copy of the updated Personal Banking Fees and Limits.
Date effective: 13 June 2022
Date published: 26 May 2022
Deposits
We're increasing our rates for new and existing customers on the following savings products:
|
Product |
Previous rate (incl bonus) |
New rate (incl bonus) |
|---|---|---|
|
90 Day Notice Saver |
2.15% |
2.50% |
|
32 Day Notice Saver |
1.25% |
1.65% |
|
Online Call* |
1.00% |
1.30% |
* Changes apply to Standard, PIE and Business Online Call. The new Online Call rate will be made up of 1.20% base interest + 0.10% bonus interest.
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:
|
Product |
Previous rate |
New rate |
|---|---|---|
|
Term loan - Variable |
5.00% |
5.50% |
|
Term loan - Offset variable |
5.00% |
5.50% |
|
Revolving loan |
5.05% |
5.55% |
For a full list of our current interest rates, please visit our rates and 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 and 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 and 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 and 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 and 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 and Conditions brochure.
Download a copy of the updated General Terms and 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
We're making a change to one of our home loan fees. The change is outlined below:
|
Fee Type |
Old fee |
New fee |
|---|---|---|
|
Loan restructure fee - complex request |
$55 |
$50 |
A description of when this fee applies can be found on our home loan rates and fees page.
Download a copy of the updated Personal Banking Fees and Limits Brochure which includes this fee change.
Date effective: 11 February 2022
Date published: 28 January 2022
Changes to our Business Banking Fees & 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 & Visa Debit Card fees
|
ATM/EFTPOS card replacement fee |
When you ask for a replacement ATM/EFTPOS card. $15 |
|
Overseas ATM balance enquiry fee |
When you use your ATM/EFTPOS card or Visa Debit Card to make an ATM balance enquiry at an overseas ATM. $1 per balance enquiry. |
|
Overseas ATM transaction decline fee |
When you use your ATM/EFTPOS card or Visa Debit Card at an overseas ATM and the transaction declines. $1 per declined transaction. |
|
Overseas ATM cash withdrawal fee |
When you use your ATM/EFTPOS card or Visa Debit Card to withdraw cash at an overseas ATM. $6 per withdrawal. |
|
International transaction fee |
When you use your ATM/EFTPOS card or Visa Debit Card for a foreign currency transaction. 2.5% of the New Zealand dollar amount once converted. |
|
Visa Debit cash advance fee |
When you use your Visa Debit Card to withdraw cash over the counter at another bank or financial institution. $6 withdrawal fee. |
|
Visa Debit Card annual fee |
What you'll pay to have your Visa Debit Card. $10 per card per annum (waived for the first year of the first card). |
|
Visa Debit Card disputed transaction fee |
When you dispute a transaction made using your Visa Debit Card. $15 per transaction receipt requested. The investigation fee may also apply. |
|
Visa Debit Card replacement fee |
When you ask for a replacement Visa Debit Card: $15 for a standard delivery within New Zealand. $20 for urgent delivery within New Zealand. $20 for standard international delivery. $50 for urgent international delivery. |
Download the updated Business Banking Fees and Limits brochure.
Date effective: 10 January 2022
Date published: 22 December 2021
More archived public notices
For public notices from other years, see archived public notices.