2024
We're updating our Personal Banking and Business Banking fees and limits.
Summary of changes
Personal Banking fees & limits
- Sweep, Dynamic Sweep and PayStream
- As of 31 May 2023, we stopped offering the ability to use Sweep, Dynamic Sweep or PayStream (also known as EasySave) on business accounts.
- From 19 June 2024, you'll no longer be able to use Sweep, Dynamic Sweep or PayStream on personal accounts. So, we’ve removed the reference to these payment services in the Personal Banking fees and limits.
- Unauthorised overdraft rate
- To align with our website, we’ve included the ‘Unauthorised overdraft rate’ of 22% p.a.
- Download a copy of the updated Personal Banking Fees and Limits, effective from 19 June 2024.
Business Banking fee & limits
- Unauthorised overdraft rate
- To align with our website, we’ve included the ‘Unauthorised overdraft rate’ of 22% p.a.
- Download a copy of the updated Business Banking Fees and Limits, effective from 19 June 2024.
Date effective: 19 June 2024
Date published: 31 May 2024
From 22 May 2024, we're making changes to comply with upcoming Anti-Money Laundering (AML) legislation updates. These changes are designed to help reduce the risk of money laundering. Anyone who deposits cash into a Kiwibank business account at a Kiwibank branch or Local for Kiwibank without the authority to transact on the account will need to provide their first name and surname at the time they deposit the cash.
Date effective: 22 May 2024
Date published: 2 May 2024
We’re updating the wording in section 11 of our General Terms and Conditions, to read 'An automatic payment authority may be cancelled, without notice to you, in circumstances when the automatic payment fails three scheduled dates in a row' (not four as previously stated - this was an error).
Download a copy of the updated General Terms & Conditions effective from 3 May 2024.
Date effective: 3 May 2024
Date published: 19 April 2024
We'll no longer be offering the Access Term Deposit feature on Term Deposits opened on, or after, 3 April 2024. If you have a Standard or Business Term Deposit for a term of two years or more, that was opened before 3 April 2024, this feature will continue until the maturity date of that Term Deposit.
We’ve updated our Term Deposit General Terms and Conditions brochure to reflect this change.
Download a copy of the updated Term Deposit General Terms and Conditions, effective from 3 April 2024.
Date effective: 3 April 2024
Date published: 20 March 2024
We're updating our General Terms and Conditions and Personal Banking and Business Banking Fees and Limits.
Summary of changes
General Terms & Conditions
- The sentence referring to the 'Unauthorised overdraft fee' has been removed from the 'Interest and charges' section as we'll no longer charge this fee.
Download a copy of the updated General Terms and Conditions, effective from 1 April 2024.
Personal Banking Fees & Limits
- The 'Account out of order fee' has been removed as we'll no longer charge this fee.
Download a copy of the updated Personal Banking Fees and Limits, effective from 1 April 2024.
Business Banking Fees & Limits
- The 'Account out of order fee' has been removed as we'll no longer charge this fee.
- The 'Overdraft over limit fee' has been removed as we'll no longer charge this fee.
Download a copy of the updated Business Banking Fees and Limits, effective from 1 April 2024.
Date effective: 1 April 2024
Date published: 15 March 2024
We've changed when the terms and conditions take effect. For credit card customers, this incorporates both our General Terms and Conditions and our Credit Card Terms and Conditions. They will take effect from the date we open your card account instead of from the time your card or card account is first used.
We’re also updating the ‘Primary and joint cardholders’ and ‘Additional cardholders’ sections under Section 1 ‘Responsibility for your use and others who may use the credit card account’. It'll now include more detailed information on what happens if a primary or joint cardholder passes away.
Download a copy of the updated Credit Card Terms & Conditions, effective from 16 February 2024.
Date effective: 16 February 2024
Date published: 17 January 2024
More archived public notices
For public notices from other years, see archived public notices.