You've probably noticed our About us section looks a little different. No need to worry, we've recently revamped this section.
Information about upcoming or recent changes to Kiwibank accounts and services.
We’re making changes to foreign cash that come into effect from Friday, 1 November 2019. From this date, we'll no longer sell or purchase foreign cash through our branches or online.
Because we'll no longer be selling or purchasing foreign cash, we're removing some of the fees that were associated with those services, specifically foreign cash (Kiwibank buys) and foreign cash (Kiwibank sells). These fees will be removed from Friday, 1 November 2019.
Effective from 19 November 2019, Kiwibank will stop offering the Western Union® money transfer services.
To find your closest Western Union agent, you can visit westernunion.com. You can also send money online via westernunion.co.nz or via the Western Union ® mobile app.
We've made interest rate changes to some of our savings and investments products following changes in the market. The new rates were effective from 1 October 2019.
You can manage your savings and investment accounts through your internet banking or mobile app.
Online Call rewards you with bonus interest each calendar month when you: make no withdrawals or transfers; and have a minimum balance of $2,000 in your account at any time.
|
Balance |
Base rate |
Base rate from 1 October 2019 |
Bonus rate |
Bonus rate from 1 October 2019 |
Total rate |
Total rate from 1 October 2019 |
|
$0 - $1,999 |
0.00% p.a. |
No change |
0.00% p.a. |
No change |
0.00% p.a. |
No change |
|
$2,000+ |
0.35% p.a. |
0.30% p.a. |
0.90% p.a. |
No change |
1.35% p.a. |
1.20% p.a. |
|
Balance |
Base rate |
Base rate from 1 October 2019 |
Bonus rate |
Bonus rate from 1 October 2019 |
Total rate |
Total rate from 1 October 2019 |
|
$0 - $1,999 |
0.00% p.a. |
No change |
0.00% p.a. |
No change |
0.00% p.a. |
No change |
|
$2,000+ |
0.35% p.a. |
0.30% p.a. |
0.90% p.a. |
No change |
1.35% p.a. |
1.20% p.a. |
No transaction fees or monthly account fees if you have a minimum balance of $4,000 across your Front Runner accounts (a $15 monthly fee applies if balance drops below $4,000).
|
Balance |
Current rate |
Rate from 1 October 2019 |
|
$0 - $3,999 |
0.00% p.a. |
No change |
|
$4,000 - $99,999 |
0.10% p.a. |
No change |
|
$100,000+ |
1.35% p.a. |
1.20% p.a. |
|
Balance |
Current rate |
Rate from 1 October 2019 |
|
$0 - $3,999 |
0.00% p.a. |
No change |
|
$4,000 - $99,999 |
0.10% p.a. |
No change |
|
$100,000+ |
1.35% p.a. |
1.20% p.a. |
No minimum balance, Free transfers to your other Kiwibank accounts (excluding credit cards). No monthly account fee.
|
Balance |
Current rate |
Rates from 1 October 2019 |
|
$0 - $4,999 |
0.00% p.a. |
No change |
|
$5,000 - $99,999 |
0.10% p.a. |
No change |
|
$100,000+ |
1.35% p.a. |
1.20% p.a. |
|
Balance |
Current rate |
Rates from 1 October 2019 |
|
$0 - $4,999 |
0.00% p.a. |
No change |
|
$5,000 - $99,999 |
0.10% p.a. |
No change |
|
$100,000+ |
1.35% p.a. |
1.20% p.a. |
Note: You'll need to be using alternative methods of payment by 28 February 2020.
We’ve updated our General Terms and Conditions (PDF 196.5 KB) to reflect these changes. Download a copy of the new General Terms and Conditions (PDF 196.5 KB) effective from 30 September 2019. For a full list of frequently asked questions about the changes to cheque services, visit our frequently asked questions page.
As well as updates reflecting the changes to our cheques service, we’ve also updated the General Terms and Conditions to provide increased clarity regarding the steps we’ll take if we receive a request for information from the police or any government agency. These changes were effective from 30 September 2019. Download a copy of the new General Terms and Conditions (PDF 196.5 KB).
We've made changes to our Notice Saver interest rates following changes in the market. The new rates were effective from 12 August 2019. You can manage your savings and investment accounts through internet banking or the mobile app.
|
Current rates |
Current rates |
Rates from 12 August 2019* |
|
|
Notice period |
$0 - $1,999.99 |
$2,000+ |
$2,000+ |
|
32 days |
0.00% p.a |
2.10% p.a. |
1.70% p.a. |
|
90 days |
0.00% p.a. |
3.10% p.a. |
2.70% p.a. |
*No changes to the $0 - $1,999.99 tier.
On 1 August 2019, the following changes were made to the Air New Zealand Lounge eVoucher benefit on the Airpoints Standard Mastercard/Visa and the Airpoints Platinum Mastercard/Visa.
Card Type |
Current Lounge eVoucher benefit |
New Lounge eVoucher benefit as of 1 August 2019 |
|
Airpoints Standard Mastercard / Visa |
Two complimentary Air New Zealand Lounge eVouchers per year when you spend $20,000 on eligible purchases*. |
Two complimentary Air New Zealand Lounge eVouchers per year when you spend $30,000 on eligible purchases*. |
|
Airpoints Platinum Mastercard / Visa |
Two complimentary Air New Zealand Lounge eVouchers each year for every $20,000 you spend on eligible purchases*. |
Two complimentary Air New Zealand Lounge eVouchers each year for every $30,000 you spend on eligible purchases*. Maximum four eVouchers per year^. |
*Eligible purchases do not include cash advances, balance transfers, the purchase of cash substitutes such as foreign currency, travellers cheques and gambling chips or business related expenditure.
^From 1 August 2019, two single use Air New Zealand Lounge eVouchers will be issued for every $30,000 spent in each 12-month period from the date the card was issued. The maximum number of Lounge eVouchers that can be earned in each 12-month period will be four (i.e. two pairs). If you have been credited two or more pairs of Lounge eVouchers prior to 1 August 2019, you will not be credited any additional Lounge eVouchers until the start of your next card anniversary date.
On 1 July 2019, Kiwibank reduced the purchase and cash advance interest rates on three of its credit cards, as follows:
Card Type |
Current interest rates |
New interest rates as of 1 July 2019 |
|
Kiwibank Low Rate Mastercard |
Purchases - 13.45% Cash Advances - 22.95% |
Purchases - 9.95% Cash Advances - 9.95% |
|
Kiwibank Mastercard Zero |
Purchases - 16.90% p.a. Cash Advances - 22.95% p.a. |
Purchases - 13.95% p.a. Cash Advances - 13.95% |
|
Kiwibank Mastercard Gold |
Purchases - 17.90% p.a. Cash Advances - 22.95% p.a. |
Purchases - 13.95% p.a. Cash Advances - 13.95% p.a. |
Interest rates are subject to change.
Any interest charged on statements issued from 1 July 2019 onwards will be applied at these new interest rates.
Please also note the Low Rate Mastercard account fee will drop. The new fee will apply when you are next due to be charged it, after 1 July 2019.
Card Type |
Current fee |
New fee as of 1 July 2019 |
|
Kiwibank Low Rate Mastercard |
$24 every six months |
$15 every six months |
On 1 July 2019, we've increased the free cash threshold for notes on deposits and withdrawals to $4,000 from $2,000 per day and also decreasing the margin from 0.5% to 0.35% across both notes and coins.
We've also amended the change order fee to apply up to the $3,000 maximum from its current $2,000 (as the cash handling fee will no longer apply to orders over $2,000).
Previous public notices can be found on our archived public notices.