With the withdrawal of the New Zealand Post Guarantee and the transition to the Financial Markets Conduct Act, we've updated our terms and PIE Online Call Fund, PIE Term Deposit Fund, PIE Notice Saver Fund and Kiwibank Term Deposits. The changes are effective from 1 December 2016. We’ve summarised the changes below:

The changes to PIE Online Call Fund, PIE Term Deposit Fund and PIE Notice Saver Fund are:
  • Amendments to the sections entitled ‘Am I guaranteed to get my investment back?’ to reflect the fact that the NZ Post Guarantee will be terminated for new investments on 28 February 2017;
  • Amendments to reflect the transition to the Financial Markets Conduct Act 2013 (including changing references from the ‘Trustee’ to the ‘Supervisor’ when referring to Trustees Executors Limited);
  • Other minor amendments for clarification and to amend formatting.
The changes to the terms and conditions for Kiwibank Term Deposits are:
  • Amendments to the section entitled ‘Am I guaranteed to get all my money back?’ to reflect the fact that the NZ Post Guarantee will be terminated for new deposits on 28 February 2017;
  • Minor amendments for clarification and to amend formatting.

You'll find these changes in the current individual Terms and Conditions for PIE Online Call Fund, PIE Term Deposit Fund, PIE Notice Saver Fund and Kiwibank Term Deposit on our legal documents page.

Changes to Credit Card Cash Advance Interest Rate

Effective 1 December 2016, the cash advance interest rate for the Kiwibank Low Rate Mastercard, the Kiwibank Mastercard Zero and the Kiwibank Mastercard Gold has increased from 19.95% p.a. to 22.95% p.a.

You’ll find all the updated personal banking fees in our new Personal banking Fees ‘n Limits brochure (PDF 182.0 kB), these are effective from 10 November 2016.

You’ll find all the updated business banking fees in our new Business banking Fees ‘n Limits brochure (PDF 851.5 kB), these are effective from 10 November 2016.