We’ve got a range of initiatives to support you or your business, if you’ve been financially impacted by COVID-19, We also have guides to help you bank from home. For all other updates, see our COVID-19 page.
All our branches have returned to normal trading hours. See our latest branch updates for more information.
Information about upcoming or recent changes to Kiwibank accounts and services.
From Monday 20 July 2020, we're stopping our one-off high value payment service for amounts over $2,000 that are made in Kiwibank branches.
The decision to stop this service was due to feedback that it's confusing for customers and that the time it takes to process the payment is inconvenient.
We have a range of other payment options available through internet banking or our mobile app.
If you’re new to internet banking or our mobile app, we have easy to follow step by step guides. You can also visit your nearest branch and we can get you set up and show you how to make payments online, or you can email digitaleducation@kiwibank.co.nz with your phone number and access number (which can be found on the back of our EFTPOS cards, Visa Debit cards, or credit cards) and our team will get in touch to talk you through getting set up, transferring funds and making payments.
We're lowering the standard interest rate on our Kiwibank Business Mastercard from 16.90% p.a to 12.50% p.a. following our COVID-19 temporary reduction which finishes 15 July 2020. The new reduced standard interest rate of 12.50% p.a. will apply to statements issued 16 July 2020 onwards. This means interest charged on those statements will be applied at 12.50% pa. This applies regardless of when you made the transaction or when interest started to accrue.
|
Product |
Standard interest rate |
COVID-19 temporary rate reduction 15 April 2020 – 15 July 2020 |
Standard interest rate from 16 July 2020 |
|
Business Mastercard |
16.90% p.a. |
9.95% p.a. |
12.50% p.a. |
We've made changes to the rates of return on our Notice Saver accounts following changes in the market. These changes were effective from Monday 15 June 2020. You can manage your savings and investment accounts through your internet banking or mobile app.
The rate of return for Notice Saver can change at any time and without notice. This means the rate might go up or down during your investment. From 15 June 2020 the following rates apply:
|
Notice period |
Previous rates* |
Rates as of 15 June 2020* |
|
32 days |
1.25% p.a. |
1.00% p.a. |
|
90 days |
2.10% p.a. |
1.75% p.a. |
*Minimum Investment $2,000.
Kiwibank Notice Saver is a fund within a Portfolio Investment Entity (PIE). Units in Kiwibank Notice Saver are issued by Kiwibank Investment Management Limited and are distributed by Kiwibank Limited. Download the Terms and Conditions for Kiwibank Notice Saver (PDF 97.0 KB).
Effective from 1 June 2020, Public Trust Limited replaces Trustee Executors as the Supervisor of the Kiwibank PIE Unit Trust. For more information about the key features and benefits of PIE products, visit our PIE Funds page.
Kiwibank is supporting an industry wide move to help limit the risk of COVID-19 infection in retail stores by increasing its contactless PIN threshold from $80 to $200 for all Kiwibank Credit and Visa Debit cards. This means customers can perform contactless transactions of up to $200 without having to touch an EFTPOS terminal pin pad.
This change will be effective from 9 April 2020 and will continue until further notice.
The COVID-19 lockdown has meant customers have limited access to our branches. As a result, Kiwibank has partnered with trusted provider, DocuSign, to implement a new digital signature solution to enable customers to complete documentation requirements from the safety of their homes. Please note that priority will be given to implementing documentation for the Business Finance Guarantee Scheme to begin with. Find out more about DocuSign.
This change was effective from Monday 6 April 2020.
To further support our customers, we’ll continue to temporarily remove the fees charged when you call our automated phone banking and/or contact centre. These are currently:
This change is effective from 25 March 2020 until 31 July 2020. Other fees in our Personal Banking fees and limits brochure (PDF 129.5 KB) and Business Banking fees and limits brochure (PDF 117.4 KB) will apply.
We're changing the interest rates of our savings accounts following changes in the market. These changes are effective from Friday 3 April 2020. You can manage your savings and investment accounts through your internet banking or mobile app. You can open other savings and investment accounts here too.
Interest rates and rates of return are subject to change.
The rate of return for Notice Saver can change at any time and without notice. This means the rate might go up or down during your investment. From 3 April 2020 the following rates apply:
|
Notice period |
Previous rates* |
Rates as of 3 April 2020* |
|
32 days |
1.60% p.a. |
1.25% p.a. |
|
90 days |
2.70% p.a. |
2.10% p.a. |
*Minimum Investment $2,000.
Kiwibank Notice Saver is a fund within a Portfolio Investment Entity (PIE). Units in Kiwibank Notice Saver are issued by Kiwibank Investment Management Limited and are distributed by Kiwibank Limited. Download the Terms and Conditions for Kiwibank Notice Saver (PDF 97.0 KB).
Online Call has a variable interest rate and includes bonus interest if no withdrawals are made in a calendar month.
|
Balance |
$0 - $1,999 |
$2,000+ |
|
Previous Rates |
||
|
Base rate |
0.00% p.a. |
0.30% p.a. |
|
Bonus rate |
0.00% p.a. |
0.90% p.a. |
|
Total rate |
0.00% p.a. |
1.20% p.a. |
|
Rates as of 3 April 2020 |
||
|
Base rate |
No change |
0.05% p.a. |
|
Bonus rate |
No change |
0.65% p.a. |
|
Total rate |
No change |
0.70% p.a. |
Units in the Kiwibank PIE Online Call Fund are distributed by Kiwibank Limited and are issued by Kiwibank Investment Management Limited. Download the Terms and Conditions for the Kiwibank PIE Online Call Fund (PDF 87.2 KB).
Fast Forward Saver has a variable interest rate and includes bonus interest if at least $20 is deposited, and no withdrawals are made, in a calendar month.
|
Previous rate |
Rate as of 3 April 2020 |
|
|
Base rate |
0.10% p.a. |
0.05% p.a. |
|
Bonus rate |
1.00% p.a. |
0.65% p.a. |
|
Total rate |
1.10% p.a. |
0.70% p.a. |
|
Balance |
Previous rate |
Rate as of 3 April 2020 |
|
$0+ |
1.10% p.a. |
0.70% p.a. |
|
Balance |
Previous rate |
Rate as of 3 April 2020 |
|
$0 - $3,999 |
0.00% p.a. |
No change |
|
$4,000 - $99,000 |
0.10% p.a. |
0.05% p.a. |
|
$100,000+ |
1.00% p.a. |
0.25% p.a. |
|
Balance |
Previous rate |
Rate as of 3 April 2020 |
|
$0 - $4,999 |
0.00% p.a. |
No change |
|
$5,000 - $99,000 |
0.10% p.a. |
0.05% p.a. |
|
$100,000+ |
1.00% p.a. |
0.25% p.a. |
|
Balance |
Previous rate |
Rate as of 3 April 2020 |
|
$0+ |
0.10% p.a. |
0.05% p.a. |
|
Balance |
Previous rate |
Rate as of 3 April 2020 |
|
$0-$99 |
0.00% |
No change |
|
$100+ |
0.10% p.a. |
0.05% p.a. |
From 31 March 2020, we’ll no longer provide cheque services, including domestic currency cheques and NZD drafts. Cheque facilities that are still open will be closed and any cheques presented for payment on those accounts won’t be paid after this date.
We’ve updated our General Terms and Conditions to reflect these changes. Download a copy of the new General Terms and Conditions (PDF 200.5 KB) effective from 31 March 2020.
For a full list of frequently asked questions about the changes to cheque services, visit our frequently asked questions page.
Kiwibank customers receiving payments from the Ministry of Social Development (MSD) will now receive them at the same time, every time from 19 March 2020. MSD Payments include (but aren't limited to); benefits, NZ Super/Veteran’s Pension, StudyLink and Youth payments.
Currently payments can arrive at varying times throughout the day, with the majority being processed during the evening before the official Ministry due date. From Thursday 19 March 2020, customers MSD payments will be processed at 11pm on the same day they are used to receiving them, provided we've received them, giving customers more certainty and control over their finances.
From 2 March 2020, Loaded for Travel customers will no longer be able to load funds onto their Loaded for Travel card.
For more information about these changes visit loadedfortravel.co.nz.
Note: You'll need to be using alternative methods of payment by 28 February 2020.
We’ve updated our General Terms and Conditions 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.
From 29 February 2020, Kiwibank will longer process personal or bank cheques. This means that, if you want to deposit funds into any of the Term Deposit Investments listed below, or have funds paid by Kiwibank to you out of your investments, the funds can't be transferred using a cheque. Instead, the funds will be paid from, or into, a bank account.
From 28 February 2020, the following Terms and Conditions are changing to remove any reference to cheques:
Download a copy of the new Kiwibank PIE Term Deposit Fund Terms and Conditions (PDF 93.8 KB), Kiwibank PIE Online Call Fund Terms and Conditions (PDF 87.2 KB), and Kiwibank Investment Terms and Conditions (PDF 1.2 MB) effective 29 Feb 2020.
We've made changes to some of our home loan fees. These changes were effective from 9 December 2019.
The changes have been summarised below. For full descriptions of when each fee is applicable, download an updated copy of our Personal Banking fees and limits brochure (PDF 160.9 KB).
|
Fee type |
Fee type |
New fee |
|
Settlement statement fee |
$15 |
Removed |
|
Fee type |
Old fee |
New fee |
|
Demand fee – default |
$12 |
$25 |
|
Discharge of security fee – full discharge* |
$30 |
$35 |
|
Loan restructure fee – complex request* |
$135 |
$60 |
|
Lump sum repayment administration fee |
$40 |
$10 |
|
Top up fee |
$185 |
$120 |
*Full descriptions of when each fee is applicable can be found at kiwibank.co.nz/fees
We've made interest rate changes to some of our savings and investments products. The new rates were effective from 2 December 2019.
You can manage your savings and investment accounts through your internet banking or mobile app.
Minimum investment $2,000. The rate of return for Notice Saver can change at any time and without notice. This means the rate might go up or down during your investment.
|
Notice period |
Current rate |
Rate from 2 December 2019* |
|
32 days |
1.70% p.a. |
1.60% p.a. |
|
90 days |
2.70% p.a. |
No change |
*No changes to the $0 - $1,999.99 tier.
No transaction fees or monthly account management 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 2 December 2019 |
|
$0 - $3,999 |
0.00% p.a. |
No change |
|
$4,000 - $99,999 |
0.10% p.a. |
No change |
|
$100,000+ |
1.20% p.a. |
1.00% p.a. |
No account management fees. Free transfers to your other Kiwibank accounts (excluding credit cards).
|
Balance |
Current rate |
Rate from 2 December 2019 |
|
$0 - $4,999 |
0.00% p.a. |
No change |
|
$5,000 - $99,999 |
0.10% p.a. |
No change |
|
$100,000+ |
1.20% p.a. |
1.00% p.a. |
Effective from 19 November 2019, Kiwibank stopped 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 changes to foreign cash that came into effect on Friday, 1 November 2019.
From this date, we no longer sell or purchase foreign cash through our branches or online. We've accordingly removed some of the fees that were associated with those services, specifically foreign cash (Kiwibank buys) and foreign cash (Kiwibank sells).
For any foreign cash requirements, you can visit travelex.co.nz.
Download the new Personal Banking fees and limits brochure (PDF 160.9 KB) and Business Banking fees and limits brochure (PDF 117.3 KB).
Previous public notices can be found on our archived public notices.