Accounts and packages
On Wednesday 24 August 2022, we stopped offering our Fast Forward Saver, Back-up Saver and First Saver accounts. If you already have one or more of these accounts, you’ll be able to continue to use them as normal for now. Rates and transactional fees stated below are applicable for existing customers on these accounts. Download our Personal Banking Fees and Limits brochure (PDF 205.8 KB).
Rates & fees
|
Fast Forward Saver |
Back-up Saver |
First Saver |
|
|
Interest rates |
for balances * |
for balances |
for balances |
|
Account management fee |
Free |
Free |
Free |
|
Inoperative account management fee |
When you haven’t initiated any transactions for one year and have a balance of less than $200 across all your everyday and savings account(s) $30 per year. This fee is charged across all your everyday and savings account(s). If there’s less than $30 across all your everyday and savings account(s) we’ll take whatever balance is in your account(s). Accounts with $0 balance before or after the fee is charged will be closed. |
||
|
Deposits and withdrawals at Kiwibank branch |
Free deposits, One free withdrawal of any type per month, then $5 per withdrawal |
$3 per transaction (one free deposit per month) |
$3 per transaction (one free deposit per month) |
|
Transfers (for electronic transfers between your Kiwibank accounts) |
Free |
Free |
Free |
|
Kiwibank ATM withdrawal** |
— |
$1 per withdrawal |
— |
|
Withdrawal fee – automatic payment, bill payment and direct debit |
One free withdrawal of any type per month, then $5 per withdrawal |
$1 per withdrawal |
— |
|
Withdrawal fee – EFTPOS and online |
— |
$1 per withdrawal |
— |
*
**There are also service fees relating to other ATM transactions.
As of 24 August 2022, we stopped offering Business Performer accounts. If you already have one of these accounts, you’ll be able to continue to use your account as normal for now. Rates and transactional fees stated below are applicable for existing customers on this account. Download our Business Banking Fees and Limits brochure (PDF 212.6 KB).
Rates & fees
|
Interest rates |
for balances for balances between for balances |
|---|---|
|
Account management fee |
Free |
|
Inoperative account fee |
When you haven’t initiated any transactions for one year and have a balance of less than $200 across all your transaction and savings account(s) $30 per year. This fee is charged across all your transaction and savings account(s). If there’s less than $30 across all your transaction and savings account(s) we’ll only charge the remaining balance. Account(s) with $0 balance before or after the fee is charged will be closed. |
|
Bulk payments fee (multiple payments and batch uploads) |
$0.20 per item |
|
Deposit fee |
First 25 electronic deposits free per business per month, then $0.35 per electronic deposit. First 25 manual deposits (at your nearest Kiwibank) free per business per month, then $1 per manual deposit. |
|
Transfers (for electronic transfers between your Kiwibank accounts) |
Free |
|
Withdrawal fee – ATM |
— |
|
Withdrawal fee – direct debit |
$0.35 per withdrawal |
|
Withdrawal fee – EFTPOS, online |
— |
|
Withdrawal fee – nearest Kiwibank |
$0.70 per withdrawal |
|
Withdrawal fee – automatic payment and bill payment |
$0.35 per withdrawal |
As of 1 February 2021 we stopped offering our Tertiary Pack to customers.
If you're currently on a Tertiary Pack, your benefits will continue until your agreed expiry date.
Benefits for customers currently on a Tertiary Pack
- You can apply for a low rate and fee free overdraft of up to $1,000 in your first year and up to $2,000 in your second and subsequent years.
- The $10 annual fee will be waived on a Visa Debit Card.
Interest rates |
The interest rate you'll receive on your account depends on the everyday account that you get with us. See our accounts, rates and fees. |
Fees |
You don't pay the following transaction fees on our everyday accounts if you're a Tertiary Pack customer.
Service fees may apply. |
As of 1 February 2021 we stopped offering the Graduate Pack.
On Thursday 25 March 2021 we stopped offering our Now, Bill Blaster and Front Runner accounts, which means you can no longer open these account types. If you already have any of these accounts, you can continue to use them as usual and the below rates and fees will apply. You can also download our Personal Banking Fees and Limits (PDF 205.8 KB) brochure.
We've simplified our offering to one everyday account; Free Up, which has no monthly account or electronic transaction fees. If you'd like to close or switch your Now, Bill Blaster or Front Runner account to a Free Up account, please contact us.
Rates & fees
|
Now account $5 monthly plan |
Now account Pay as you go |
Bill Blaster |
Front Runner |
|
|---|---|---|---|---|
|
Interest rate |
for balances $0+ |
for balances $0+ |
for balances $0 - $99 for balances $100+ |
for balances $0 - $3,999 for balances $4,000 - $99,999 for balances $100,000+ |
|
Account management fee |
$5 per month* |
Free |
Free |
Free if $4,000 in account^ |
|
Inoperative account management fee |
When you haven’t initiated any transactions for one year and have a balance of less than $200 across all your everyday and savings account(s). $30 per year. This fee is charged across all your everyday and savings account(s). If there’s less than $30 across all your everyday and savings account(s) we’ll take whatever balance is in your account(s). Account(s) with $0 balance before or after the fee is charged will be closed. |
|||
|
Deposits and withdrawals at Kiwibank branch |
Free |
$3 per transaction, (one free deposit per month) |
$3 per transaction, (one free deposit per month) |
Free |
|
Transfers – for electronic transfers between your Kiwibank accounts |
Free |
Free |
Free |
Free |
|
Electronic transactions – Online, EFTPOS, automatic payment, direct debit, bill payment |
Free |
$0.40 per transaction |
Free |
Free |
|
ATM withdrawal** |
Free |
$0.80 per withdrawal |
N/A |
Free |
|
Postal statement fee |
$2 per postal statement |
|||
Interest rates are subject to change.
Service fees may apply.
* This fee plan wasn’t available to companies, trusts or organisations.
** There are also service fees relating to other ATM transactions.
^ When your combined balance of up to four Front Runner accounts with the same base account number falls below $4000 at any time during the month, you’ll be charged a $15 per month fee.
We're no longer offering Membership Packages for partners, including Mates Rates, Public Service Association (PSA) and Grey Power packages.
Mates Rates and Public Service Association (PSA)
- From 1 April 2022: We stopped offering our Membership Packages to customers.
If you were on a Membership Package and have an existing fixed term product like a term deposit or a fixed rate home loan, you’ll continue to receive the membership benefits on those products until the end of the product’s fixed term.
Grey Power
- From 30 January 2021: We stopped offering Grey Power members the option to sign up to contribute to the Grey Power commission payment.
Cards
From 5 July 2021 we stopped offering the Business Mastercard. This card has been replaced by our Business Low Rate Visa.
From 27 December 2019, we stopped offering Loaded for Travel cards to customers. As of 2 June 2020, all Loaded for Travel cards have been cancelled.
All remaining balances were converted back to NZD at the exchange rate applicable on 2 June 2020. Please note that any remaining balances are held for refund in the future in a non-interest bearing account in accordance with the law applying to unclaimed monies.
If you have funds remaining on your Loaded for Travel account, you can request a refund to any New Zealand bank account by:
- Completing a closure form (PDF 169.9 KB), then scan and email loaded@kiwibank.co.nz or send to Loaded Card, Private Bag 39 888, Wellington Mail Centre, Wellington 5045
- Sending a secure mail via internet banking or our mobile app if you're an existing Kiwibank customer.
If you didn't receive the goods or services purchased from a merchant who wants to credit your closed Loaded for Travel card, you can ask the merchant to credit the refund to an alternative card or bank account.
If you have questions, please give us a call on 0800 113 355 or email us on loaded@kiwibank.co.nz.
Download Loaded for Travel terms and conditions (PDF 99.2 KB).
On 24 November 2021 we stopped offering our Low Rate Visa to new customers.
If you're an existing cardholder you can continue to use your card until the expiry date. We'll then send you a Zero Visa to replace your current card. All your existing account details, including your card and account number, will remain the same unless your card has been lost or stolen.
Features and benefits for existing cardholders
- Interest rate on purchases and cash advances
- Up to 55 interest free days on purchases.
Interest rates & fees
|
Account fee |
$0 |
|
Interest rate on purchases and cash advances |
|
|
Interest free days |
Up to 55 Interest free period applies provided you pay off your entire balance each month by the due date. Interest free period doesn't apply to cash advances or balance transfers. |
|
Late payment fee When your minimum payment isn’t received by us on or before the payment date shown in your monthly statement. |
$5 per late payment Please note when your monthly statement shows an amount due immediately, any payment you make will be applied to this amount before being applied to your minimum payment. This means that you must pay both amounts to avoid being charged this fee. |
Interest rates are subject to change. Other fees and limits may apply.
On 24 November 2021 we stopped offering our Platinum Visa. If you’re an existing cardholder, you can continue to use your card as usual.
Features and benefits for existing cardholders
- Built-in overseas travel insurance if you pay for your travel and/or accommodation before you leave New Zealand. Other conditions apply.
- Interest rate on purchases and cash advances
- Up to 55 interest free days on purchases.
Interest rates and fees
|
Account fee (every six months) |
$40 |
|
Joint/additional cardholder account fee (every six months) |
$10 per card We’ll waive this fee if you’ve an outstanding home loan balance or deposits of $150,000 or more with Kiwibank on the fee assessment date. |
|
Interest rate on purchases and cash advances |
|
|
Interest free days |
Up to 55 Interest free period applies provided you pay off your entire balance each month by the due date. Interest free period doesn't apply to cash advances or balance transfers. |
|
Minimum credit limit |
$8,000 |
|
Late payment fee |
When your minimum payment isn’t received by us on or before the payment date shown in your monthly statement $5 per late payment Please note when your monthly statement shows an amount due immediately, any payment you make will be applied to this amount before being applied to your minimum payment. This means that you must pay both amounts to avoid being charged this fee. |
Interest rates are subject to change. Other fees and limits may apply.
On 24 November 2021 we stopped offering our Air New Zealand Airpoints™ Standard Visa. If you’re an existing cardholder you can continue to use your card as usual.
Effective 1 November 2022 we changed some of the features and benefits on this card. The changes have been updated below.
Features and benefits for existing cardholders
- One Airpoints Dollar™ for every $200 of eligible spend*
- Interest rate on purchases and cash advances
- Up to 44 days interest free on purchases.
Interest rates, fees & rewards
|
Airpoints Dollars |
Earn one Airpoints Dollar for every $200 spent on eligible purchases* As long as you have a current credit card and you’re the primary cardholder, your Airpoints Dollars will never expire. |
|
Account fee (every six months) |
$25 |
|
Joint/additional cardholder account fee (every six months) |
$5 per card |
|
Interest rate on purchases and cash advances |
|
|
Interest free days |
Up to 44 Interest free period applies provided you pay off your entire balance each month by the due date. Interest free period doesn't apply to cash advances or balance transfers. |
|
Minimum credit limit |
$1,000 |
|
Late payment fee |
When your minimum payment isn’t received by us on or before the payment date shown in your monthly statement $5 per late payment Please note when your monthly statement shows an amount due immediately, any payment you make will be applied to this amount before being applied to your minimum payment. This means that you must pay both amounts to avoid being charged this fee. |
Interest rates are subject to change. Other fees and limits may apply.
*Eligible spend excludes 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.
Home loans
On 18 December 2020, AMP Home Loans Limited (a subsidiary company of Kiwibank) and Kiwibank Limited amalgamated and continued as Kiwibank Limited.
Between 18 December 2020 and 31 July 2021, we migrated AMP Home Loans customers across to Kiwibank systems. This involved:
- changing AMP access and account numbers to Kiwibank numbers;
- migrating customers to equivalent Kiwibank products;
- issuing new Kiwibank ATM/EFTPOS cards; and
- amending the AMP Home Loan terms and conditions and AMP General terms and conditions.
Changes to terms and conditions
If you migrated from AMP Home Loans to Kiwibank:
- your AMP Home Loan terms and conditions were amended and replaced with the Kiwibank Home Loan Terms & Conditions (PDF 271.7 KB); and
- your AMP General Terms and Conditions were amended and replaced with the Kiwibank Personal and Business Banking General Terms & Conditions (PDF 469.9 KB).
We explained these changes and how they apply to you in the letter we sent you on 18 December 2020, and by public notice on 17 May 2021.
Previous versions of your terms and conditions can be found on our legal documents archive.
Rates & fees
For information about fees, please download the Kiwibank Personal Banking Fees & Limits brochure (PDF 205.8 KB).
For interest rates please see our current home loan interest rates.
Migration information
For more information about the migration, you can download a copy of the AMP Home Loans migration guide (PDF 693.8 KB).
Insurance
As of 3 December 2020, we stopped offering Repayment Protection Insurance to new customers. If you're an existing policy holder, your cover will continue unchanged. You can cancel your policy anytime.
Cover for existing customers
- Repayment cover – involuntary unemployment: if you unexpectedly lose your job through no fault of your own, your personal loan repayments of up to $1,500 a month will be covered while you look for a new role – up to a maximum of six months.
- Repayment cover - disability: if you’ve become disabled as a result of sickness or injury and can’t work, your personal loan repayments of up to $1,500 per month will be covered, until you return to work.
- Life cover: if you die, or are diagnosed with a terminal illness that means you’re likely to die within 12 months, your personal loan will be paid off in full – up to $50,000.
Download full policy (PDF 387.2 KB) effective from 15 March 2021.
Get in touch
If you've got any questions or if you'd like to make a claim:
- Call us on 0800 220 999 between 10.30am – 7pm, Monday to Friday.
Important information
Insurance is issued by Hallmark Life Insurance Company Ltd. (Hallmark Life) and Hallmark General Insurance Company Ltd. (Hallmark General) (incorporated in Australia and operating in New Zealand).
Life Cover is issued by Hallmark Life. Repayment Cover is issued by Hallmark General.
Hallmark Life and Hallmark General have both received Insurer Financial Strength Ratings of BBB from S&P Global Ratings.
Both Hallmark Life and Hallmark General maintain solvency positions in excess of their current requirements or obligations.
For full details regarding these disclosures including the table of Insurance Financial Strength Ratings, as well as the definitions of the ratings, the table of the solvency positions, and Agency & Scale can be found at latitudefinancial.com.
An overseas policyholder preference applies to Hallmark General.
Kiwibank receives commission for referring personal loan insurance to Hallmark Life or Hallmark General.
Personal loans and car loans are provided by Latitude Financial Services Limited (“Latitude”). Kiwibank receives remuneration for referring a personal loan to Latitude. Latitude’s lending criteria, terms and conditions, and fees apply.
We no longer offer Home loan Insurance. If you’re an existing policy holder of Home Loan Insurance, for information on how to make a claim, how to reduce or cancel your insurance and to view policy wordings, visit nib.co.nz.
If you're an existing policy holder of Life & Living Insurance visit nib.co.nz for information on how to make a claim, how to change or cancel your insurance and to view policy wordings.
If you'd like to take out new Life & Living Insurance, get in touch with a specialist from our trusted life insurance partners at nib.
We no longer offer Credit Card Repayment Insurance.
If your policy was issued from 10 April 2011, your policy is provided by nib nz insurance limited. For more information on how to make a claim, how to cancel your insurance and to view policy wordings, visit nib.co.nz.
If your policy was issued before 10 April 2011, your policy was provided by Chubb Life Insurance New Zealand Limited. Download the policy wording. Cover under this policy ended on 30 September 2023. Visit chubblife.co.nz for more information.
International accounts & services
On 29 April 2022, we stopped accepting foreign cheques and international bank drafts.
If you receive an overseas pension or benefit payment by cheque from one of the countries below, you'll need to use an alternative way to receive these payments into your bank account electronically.
Australia and the United Kingdom
The two ways to receive pension or benefit payments from Australia and the United Kingdom are:
- Special Banking Option
- Direct Payment Option
You can learn more about these payment options and how to apply at workandincome.govt.nz.
Canada and the United States
If you receive pension and benefit payments from Canada or the United States (social security payments), you can receive these by direct deposit to your account by completing the forms found on the links below:
Canada
Complete the Foreign direct deposit enrolment form found on the Public Services and Procurement Canada website.
United States
Complete the Direct Deposit Sign Up Form - New Zealand (SSA-1199-OP19), found on the US Social Security Administration website.
Once you download and complete the form, email it to international@kiwibank.co.nz to have it signed by a Kiwibank representative. When you receive the form back, submit it via the relevant website above.
Find out more about receiving an international payment.
Payments
As of 1 March 2023 we stopped offering Fetch™ payment solutions; web payments, recurring payments, virtual payments and invoice payments. If you already use one or more of these services, you'll be able to continue to use them, until we get in touch with you about your options.
Access your Fetch account by logging into the Fetch system.
As of 1 September 2022, we stopped offering the Kiwibank QuickPay® mobile payment device that pairs with the Kiwibank QuickPay app. We have replaced it with a new and improved standalone Kiwibank QuickPay mobile device.
Fees
Set up fee for a first device |
$49 |
Set up fee for an additional device |
$25 |
Monthly merchant service fee |
2.90% |
Device replacement fee |
$150 |
Monthly support fee per device |
$29 |
From 28 February 2020, we stopped issuing and accepting cheques.
Kiwibank bank cheques that are dated up to and including 28 February 2020 can still be presented to Kiwibank for payment. If you receive a cheque or regular payments by cheque, you’ll need to contact the person who gave you the cheque and ask them to pay you directly into your bank account.
There are a number of ways we can help you with alternative payment methods. See our digital support hub, ask for digital banking support or check out Stepping UP's digital banking workshops.
If you're a business banking customer, there's lots of alternative ways to make and receive payments. For everything you need to know about making the change to digital, visit our pay and get paid section.
As of 2 September 2022, to help reduce the risk of money laundering we changed our cash deposit service so you can only deposit cash into your own account or into an account that you have authority to operate, in a Kiwibank branch or at a Local for Kiwibank. You'll still be able to deposit cash into a Kiwibank business account, for example companies, charities and trusts.
This change is applicable to Kiwibank, Kiwi Wealth and NZHL customers - including credit card, home loan and everyday personal and joint accounts.
Receiving a cash deposit
If you regularly received cash deposits from anyone who didn't have authority to operate your account, they'll need to make a payment using their internet banking, mobile app, phone banking or at their bank.
Alternative ways to make a cash deposit into someone's account
If you need to make a cash deposit into another account that you don’t have the authority to operate, you’ll need to:
- Deposit the cash into your own account via 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 our standard service fees may apply.
Common questions
As a Kiwibank customer, can I deposit cash into someone's account?
You’ll still be able to deposit money into someone's account by depositing the cash into your account first, you'll then need to transfer it either electronically or via a branch to the recipient's bank account.
I'm not a Kiwibank customer but I need to deposit cash into a Kiwibank customer account, what will I need to do?
You’ll need to make a deposit using internet banking, mobile app, phone banking or at your bank.
I'm a business customer (this includes companies, charities, trusts). Will people still be able to deposit cash into my business account?
Yes, cash deposits into business accounts can continue to be made.
As of 27 October 2022, we stopped offering the ability to set up a new Sweep and Dynamic Sweep. If you already have one of more of these services, you'll be able to continue to use them on personal and joint accounts for now.
From 31 May 2023, you can no longer use Sweep and Dynamic Sweep on business accounts.
Sweep
There are no changes to the way Sweep works. You'll still have a minimum and maximum balance set in your originating account and money will be transferred between this account and your nominated account according to these balances. Sweeps will occur at the end of each day, including weekends and public holidays.
Dynamic Sweep
Dynamic Sweep is a variation of Sweep that operates in real time.
- If you don't have enough money in your account to make a payment, it will take the additional money required to complete the payment straight away from your nominated accounts to your originating account.
- It can pull funds from multiple accounts.
You can use sweeps with revolving home loan and Free Up accounts, and customers who have existing Back-up Saver, Fast Forward Saver (Dynamic Sweep only), Now, Front Runner and Bill Blaster accounts, sweeps can also be used. With Bill Blaster and Fast Forward Saver, you can only sweep money into the account and not out.
To make changes to Sweep and Dynamic Sweep, contact us or make an appointment at your nearest Kiwibank. See change fee.
As of 27 October 2022, we stopped offering the ability to set up a new PayStream. If you already have one of more of these, you'll be able to continue to use them on personal and joint accounts for now.
From 31 May 2023, you can no longer use PayStream (also known as EasySave) on business accounts.
There are no changes to the way PayStream works. You'll still be able to split a certain percentage or a set dollar amount of your incoming funds (e.g. your pay) into different accounts. PayStream doesn't work on payments from other Kiwibank accounts, including those from employers that bank with Kiwibank.
You can continue to use PayStream on your Free Up account and for customers who have existing Now, Front Runner and Bill Blaster, Fast Forward Saver, Back-up Saver and First Saver accounts.
To make changes to PayStream, contact us or make an appointment at your nearest Kiwibank. See change fee.
Services
As of 31 March 2022, we stopped offering manual fingerprinting services.
If you need to get your fingerprints taken, you can do this at a number of participating locations around the country. Visit nzfingerprintingservice.co.nz for more information.
Retail products aren't available to financial institutions or wholesale customers.
Mastercard is the registered trademark of Mastercard International Incorporated.