Tips to help you avoid penalty fees
Nobody likes paying fees when they don’t have to – so here are some tips on ways to avoid penalty fees:
- When you set up automatic payments or direct debits, set them up to come out the day after you get paid, so there’s always enough money in your account to cover your payments.
- Set up TXT or email alerts so we can let you know if a payment hasn’t gone through. Unlike other banks, we’ll try to make your automatic payment twice, and won’t charge you a dishonour fee unless it fails the second time. Our alerts will let you know to deposit money or stop the payment before the second try.
- Use our Sweep and Dynamic Sweep services to automatically sweep money between your accounts so you’ll always have enough money in the right account to cover payments.
- PayStream can be used to help you budget your money, by setting it aside in a separate account (like Bill Blaster) to cover bills and other regular payments.
- Check our account selector to make sure you have the right Kiwibank account for your needs.
- Take advantage of our Free Up account for free transactional banking. Free Up is our electronic banking account that still lets you use a branch occasionally without penalising you for it. This type of account isn’t available from all banks in New Zealand.
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Conditions
Free Up is not available to companies, trust or organisations. Download Kiwibank’s Disclosure Statement or pick up a copy from your local Kiwibank.
