Archived public notices

Information about previous changes to Kiwibank accounts and services.

2021

Personal Banking fees and limits brochure – 1 February 2021

We've updated our Personal Banking fees and limits brochure.

Summary of changes:

From 1 February 2021, we no longer offer our Tertiary and Graduate Packs. Our updated Personal Banking fees and limits brochure (PDF 147.1 KB) (effective 1 February 2021) reflects these changes and was released on 12 February 2021.

For more information, please refer to the public notice below regarding changes to our student packages.

Student packages – 1 February 2021

We've made changes to our Tertiary Pack and Graduate Pack. From 1 February 2021:

  • We no longer offer our Tertiary Pack or Graduate Pack to customers
  • Customers with a Tertiary Pack or Graduate Pack won't be able to extend it past the agreed expiry date.

If you're currently on a Tertiary Pack or Graduate Pack, your benefits will continue until the agreed expiry date. Graduate Pack customers with established personal loans keep the agreed rate until the term of their loan expires.

2020

Fingerprinting services – 30 December 2020

From 30 December 2020 we no longer offer electronic fingerprinting. However, our manual fingerprinting services is still available in selected branches.

Home loan fees – 1 December 2020

We've made changes to some of our home loan fees. These changes were effective from 1 December 2020.

The changes have been summarised below. See full descriptions of when each fee is applicable or download the new Personal Banking fees and limits brochure (PDF 143.1 KB) effective from 1 December 2020.

Home loans fees being removed

Fee type

Old fee

New fee

Lump sum repayment administration fee

$10

Removed

Home loan fees being changed

Fee type

Old fee

New fee

Loan restructure fee – simple request*

$30

$25

Loan restructure fee – complex request*

$60

$55

Top up fee

$120

$95

Consent fee

$50

$30

*See full descriptions of when each fee is applicable.

Business lending fees – 1 December 2020

We’ve made changes to some of our business lending fees. These changes were effective from 1 December 2020.

The changes are summarised below. See full descriptions of when each fee is applicable or download the new Business Banking fees and limits brochure (PDF 128.3 KB) effective from 1 December 2020.

Business lending fees being removed

Fee type

Old fee

New fee

Settlement statement fee

$45

Removed

Lump sum repayment administration fee

$40

Removed

Business lending fees being changed

Fee type

Old fee

New fee

Consent fee

$100

$30

Demand fee

$50

$25

Discharge of security fee

$75

$35

Lending restructure fee*

$175

$25

Security restructure fee*

$200

$135

*See full descriptions of when each fee is applicable.

Savings accounts interest rate – 1 December 2020

We've made changes to the interest rates of our savings accounts following changes in the market. These changes were effective from Tuesday 1 December 2020. You can manage your savings and investment accounts through your internet banking or mobile app.

Interest rates and rates of return are subject to change.

General Terms and Conditions, Privacy Policy and Website Terms of Use – 1 December 2020

We've updated our General Terms and Conditions, Privacy Policy and Website Terms of Use. These changes were effective from 1 December 2020.

Summary of changes:

We've updated our:

  • General Terms and Conditions to simplify section 4 to refer to our Privacy Policy and add information to section 7 to enable us to contact you if we think there are products that would better suit your needs than the ones you're currently using.
  • Privacy Policy to make it easy to find information about our ongoing commitment to the security of your personal information.
  • Website terms to be more specific about the use of the website and include reference to the privacy policy.

Download a copy of the new General terms and conditions brochure (PDF 249.0 KB) or Privacy policy. You can also view the new Website- Terms. These were all effective from 1 December 2020.

One-off payment fee – 28 October 2020

On Wednesday 28 October 2020, we changed the automatic payment and recurring transfer set up and change fee to include a one-off payment.

When you set up or change an automatic payment, recurring transfer or one-off payment, it's free for 30 days from account opening, then:

  • $5 per set up/change when done person to person at your nearest Kiwibank, over the phone, via Secure Mail or your Online Relationship Manager;
  • $3.50 per change when done using the automated phone banking system; or
  • Free set up/change when done by internet banking.

This fee also applies if you choose to skip a scheduled payment/transfer.

Download the new Personal Banking fees and limits brochure (PDF 129.3 KB) and Business Banking fees and limits brochure (PDF 117.0 KB) effective from 28 October 2020.

Notice Saver rates of return – 5 October 2020

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 5 October 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 5 October 2020 the following rates apply:

Notice period

Previous rates*

Rates as of 5 October 2020*

32 days

0.75% p.a.

0.65% p.a.

90 days

1.40% p.a

1.00% 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 196.4 KB).

Opening everyday accounts online – 24 September 2020

From Thursday 24 September 2020, you were no longer able to open a Bill Blaster, Front Runner or Now account using internet banking or our website. You are still able to open one of these accounts by visiting your nearest branch or calling us on 0800 113 355.

If you'd like to open a Free Up account you can still do this online via internet banking, the mobile app or our website. You can also open up a Free Up account by visiting your nearest branch or calling us on 0800 113 355.

Credit card identity verification – 23 September 2020

On Wednesday 23 September 2020, we’ve implemented new digital identity solution called ID Checker. It will enable customers new to Kiwibank and applying for a credit card online to complete the identity verification process from their smartphone. Customers need to meet the eligibility criteria to use ID Checker and, if successful, they won’t need to visit a branch to verify their identity.

Savings accounts rate – 3 August 2020

We've made changes to the rates on our savings accounts following changes in the market. These changes were effective from Monday 3 August 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.

Notice Saver

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 August 2020, the following rates apply:

Notice period

Previous rates*

Rates as of 3 August 2020*

32 days

1.00% p.a.

0.75% p.a.

90 days

1.75% p.a.

1.40% 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 196.4 KB).

Online Call, PIE Online Call Fund and Business Online Call

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.

0.05% p.a.

Bonus rate

0.00% p.a.

0.65% p.a.

Total rate

0.00% p.a.

0.70% p.a.

Rates as of 3 August 2020

Base rate

No change

0.05% p.a.

Bonus rate

No change

0.45% p.a.

Total rate

No change

0.50% 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 197.6 KB).

Fast Forward Saver

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 rates

Rates as of 3 August 2020

Base rate

0.05% p.a.

0.05% p.a.

Bonus rate

0.65% p.a.

0.45% p.a.

Total rate

0.70% p.a.

0.50% p.a.

First Saver

Balance

Previous rate

Rate as of 3 August 2020

$0+

0.70% p.a.

0.50% p.a.

Front Runner

Balance

Previous rates

Rates as of 3 August 2020

$0 - $3,999

0.00% p.a.

No change

$4,000 - $99,000

0.05% p.a.

No change

$100,000+

0.25% p.a.

0.15% p.a.

Business Performer

Balance

Previous rates

Rates as of 3 August 2020

$0 - $4,999

0.00% p.a.

No change

$5,000 - $99,000

0.05% p.a.

No change

$100,000+

0.25% p.a.

0.15% p.a.

Phone banking fee suspension ends – 31 July 2020

From 25 March 2020 to 31 July 2020, we temporarily suspended the fees charged when you called our automated phone banking and/or contact centre.

From 1 August 2020, the phone banking account access fees outlined in our Personal Banking fees and limits brochure (PDF 170.0 KB) and Business Banking fees and limits brochure (PDF 142.8 KB) will apply:

  • $5 per call to a customer service representative; or
  • $0.50 per call to the automated phone banking system.
One-off high value payment service – 20 July 2020

From Monday 20 July 2020, we've stopped 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.

Business Mastercard interest rate – 15 July 2020

We've lowered 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% p.a. 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.

Notice Saver account rate change – 15 June 2020

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 196.4 KB).

Portfolio Investment Entity (PIE) Unit Trust' supervisor – 1 June 2020

Effective from 1 June 2020, Public Trust Limited replaced 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.

Credit and debit card contactless PIN thresholds – 9 April 2020

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 was effective from 9 April 2020 and will continue until further notice.

Savings accounts interest rate – 3 April 2020

We've changed the interest rates of our savings accounts following changes in the market. These changes were 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.

Notice Saver

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 196.4 KB).

Online Call, PIE Online Call Fund and Business Online Call

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 197.6 KB).

Fast Forward Saver

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.

First Saver

Balance

Previous rate

Rate as of 3 April 2020

$0+

1.10% p.a.

0.70% p.a.

Front Runner

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.

Business Performer

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.

Back-up Saver

Balance

Previous rate

Rate as of 3 April 2020

$0+

0.10% p.a.

0.05% p.a.

Bill Blaster

Balance

Previous rate

Rate as of 3 April 2020

$0-$99

0.00%

No change

$100+

0.10% p.a.

0.05% p.a.

Cheque services – 31 March 2020

From 31 March 2020, we 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 249.0 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.

The time MSD payments will be received into accounts – 19 March 2020

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.

Loaded™ for Travel – 2 March 2020

From 2 March 2020, Loaded for Travel customers are no longer able to load funds onto their Loaded for Travel card.

  • 1 June 2020 was the last day you could use the Loaded for Travel card. You were still be able to use your card up until 2 June 2020, so you could carry on using it on your travels, online shopping or in-store.
  • From 2 June 2020, all Loaded for Travel cards were cancelled.

Find out more

Cheque services term deposit funding – 29 February 2020

From 29 February 2020, Kiwibank no 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 changed to remove any reference to cheques:

  • Kiwibank Term Deposit
  • Kiwibank PIE Term Deposit Fund
  • Kiwibank PIE Online Call Fund
  • Kiwibank Notice Saver
  • Investment Terms and Conditions

Download a copy of the new Kiwibank PIE Term Deposit Fund Terms and Conditions (PDF 193.0 KB), Kiwibank PIE Online Call Fund Terms and Conditions (PDF 197.6 KB) and Kiwibank Investment Terms and Conditions (PDF 1.2 MB) effective 29 February 2020.

Cheque services – 29 February 2020
  • From 1 October 2019, you were no longer able to order any new cheque books or any new personalised deposit books for any Kiwibank accounts.
  • From 29 February 2020:
    • you were no longer able to deposit a cheque (whether issued by Kiwibank or any other bank) into any Kiwibank account, and
    • you were no longer able to cash a cheque, and
    • you were no longer able to purchase a bank cheque.
  • Any Kiwibank bank cheques dated on or before 28 February 2020 were still paid (subject to the usual checks).

On 31 March 2020, all cheque facilities remaining open were closed and cheques presented for payment on those accounts were not paid.

Note: You needed 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 249.0 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.

2019

Home loan fees - 9 December 2019

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 170.0 KB).

Home loan fees being removed

Fee type

Fee type

New fee

Settlement statement fee

$15

Removed

Home loan fees being changed

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

Savings and investments interest rates - 2 December 2019

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.

Notice Saver

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.

Front Runner

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.

Business Performer and NPO Performance Call

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.

Overseas money services - 19 November 2019

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.

Foreign cash services and fees - 1 November 2019

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 170.0 KB) and Business Banking fees and limits brochure (PDF 142.8 KB).

Savings and investments interest rates - 1 October 2019

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, PIE Online Call and Business Online Call

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.

1.00% p.a.

0.90% p.a.

1.35% p.a.

1.20% p.a.

Front Runner

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.

0.10% p.a.

$100,000+

1.35% p.a.

1.20% p.a.

Business Performer and NPO Performance Call

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.

General Terms and Conditions - 30 September 2019

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).

Notice Saver interest rates - 12 August 2019

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.

Air New Zealand Airpoints™ Credit Card benefits - 1 August 2019

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.

Credit card interest rates and fees - July 2019

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% p.a.

Cash Advances - 9.95% p.a.

Kiwibank Mastercard Zero

Purchases - 16.90% p.a.

Cash Advances - 22.95% p.a.

Purchases - 13.95% p.a.

Cash Advances - 13.95% p.a.

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're 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

Business banking cash handling fee - July 2019

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).

Credit card repayment insurance policy - May 2019

Kiwi Insurance made changes to the Credit Card Repayment Insurance Cover wording (PDF 215.5 KB). These changes:

  • Enhance your cover, increasing some cover amounts as well as introducing Terminal Illness cover
  • Introduce cover for pre-existing medical conditions, as long as a number of requirements are met
  • Widen our claim eligibility criteria and are clearer about who can make claims for temporary inability to work, permanent inability to work, redundancy and bankruptcy
  • Reduce premium costs for some customers (individual primary insured cardholders under 35)
  • Change our cancellation policy and being clearer about the distinction between primary and joint cardholders under a joint policy, including who can cancel cover under a joint policy
  • Offer an easier to read layout.

These changes were effective from 20 May 2019 for new customers and from 20 July 2019 for existing customers. Full details of the changes, as well as terms and important conditions and exclusions are in the Credit Card Repayment Insurance Cover wording (PDF 215.5 KB).

Savings and investment interest rates - May 2019

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 13 May 2019. You can manage your savings and investment accounts through your internet banking or mobile app.

Notice Saver

Notice period

Current rate ($0 - $1,999.99)*

Current rate ($2,000+)

Rate from 13 May 2019 ($2,000+)*

32 days

0.00% p.a.

2.25% p.a.

2.10% p.a.

90 days

0.00% p.a.

3.25% p.a.

3.10% p.a.

* No changes to the $0 - $1,999.99 tier.

Online Call, PIE Online Call and Buisiness Online Call

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 13 May 2019

Bonus rate

Bonus rate from 13 May 2019

Total rate

Total rate from 13 May 2019

$0 - $1,999

0.00% p.a.

No change

0.00% p.a.

No change

0.00% p.a.

No change

$2,000+

0.50% p.a.

0.35% p.a.

1.00% p.a.

No change

1.50% p.a.

1.35% p.a.

Fast Forward Saver

Fast Forward Saver rewards you with bonus interest each calendar month when you:

  • make no withdrawals or transfers; and
  • deposit at least $20, on or before the last business day of the month. Just be aware, any interest earnt doesn't count as a deposit.

Balance

Base rate

Base rate from 13 May 2019

Bonus rate

Bonus rate from 13 May 2019

Total rate

Total rate from 13 May 2019

$0 - $3,999

0.10% p.a.

No change

1.00% p.a.

No change

1.10% p.a.

No change

$4,000+

0.15% p.a.

0.10% p.a.

1.00% p.a.

No change

1.15% p.a.

1.10% p.a.

Front Runner

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 13 May 2019

$0 - $3,999

0.00% p.a.

No change

$4,000 - $49,999

0.10% p.a.

No change

$50,000 - $99,999

0.25% p.a.

0.10% p.a.

$100,000+

1.50% p.a.

1.35% p.a.

Back-up Saver

Balance

Current rate

Rate from 13 May 2019

$0+

0.15% p.a.

0.10% p.a.

First Saver

Balance

Current rate

Rate from 13 May 2019

$0+

1.25% p.a.

1.10% p.a.

Business Performer and NPO Performance Call

No minimum balance, Free transfers to your other Kiwibank accounts (excluding credit cards). No monthly account fee.

Balance

Current rate

Rates from 13 May 2019

$0 - $4,999

0.00% p.a.

No change

$5,000 - $49,999

0.10% p.a.

No change

$50,000 - $99,999

0.25% p.a.

0.10% p.a.

$100,000+

1.50% p.a.

1.35% p.a.

Credit card terms and conditions - May 2019

We've made some changes to the Kiwibank Credit Card terms and conditions (PDF 182.0 KB). The changes were effective from 6 May 2019 and included:

  • Being clearer as to the distinction between primary cardholders, joint cardholders and additional cardholders
  • Being clearer as to what we may do where there is a dispute between cardholders (and what we may consider to be a “dispute”)
  • Providing detail as to when and how your card may be transferred to a different card type (including where you ask us to transfer you to a different card type)
  • Adding in details about the current minimum payment requirements.
Kiwi Wealth KiwiSaver Scheme - April 2019

Kiwi Wealth has made some changes to the investment funds in its KiwiSaver scheme. These changes affected fees and the structure of asset allocations in its Conservative and Growth investment funds. The CashPlus investment fund is now also be closed to new members.

The changes to fees and the closure of the CashPlus fund were effective from 1 April 2019 and the asset allocation restructure took place on or around 30 April 2019.

Government changes

The Government also introduced a number of changes to KiwiSaver this year, which was rolled out in two phases. The first phase was effective from 1 April 2019 and included:

  • Introducing two new employee contribution rates, 6% and 10%, which will be available in addition to the existing rates of 3%, 4% and 8%
  • The member tax credit will be renamed Government contributions
  • Contributions holiday will become known as savings suspension
  • The maximum savings suspension period will be reduced from five years to one year.

Visit the Kiwi Wealth website to find out more.

Foreign cheques over the value of NZ$500 - March 2019

We’ve made changes to the way we handle foreign cheques, effective from 29 March 2019. If your foreign cheque is over the value of NZ$500, it can take up to four to six weeks (or longer in some cases) for us to process. We’ll only accept foreign cheques under the value of NZ$500 on a case by case basis at our discretion.

Download a copy of the new General Terms and Conditions (PDF 249.0 KB) effective from 29 March 2019.

Overdraft fees - February 2019

We've removed some of our overdraft fees, effective from 1 February 2019. Download the new Personal banking fees and limits brochure (PDF 170.0 KB). The changes have been summarised below.

Fee type

Old fee

New fee

Application fee

$15

$0

Overdraft monthly fee

$5 per month

$0

Over limit fee

$10 per month

$0

2018

Home loan fees and terms and conditions - December 2018

Home loan fees and terms and conditions

We've made changes to some of our home loan fees and our home loan terms and conditions. These changes were effective from 17 December 2018. Download an updated copy of our Personal Banking fees and limits brochure (PDF 170.0 KB) and our home loan terms and conditions (PDF 208.2 KB). The changes have been summarised below.

Changes to home loan terms and conditions

Effective 17 December 2018 we've updated our home loan terms and conditions to reflect the removal of the Low Equity fee. See Section 16, "What Fees and Costs Do You Pay?". Download the home loan terms and conditions (PDF 208.2 KB) effective 17 December 2018.

Home loan fees removed

Fee type

Old fee

New fee

Application fee

$250

Removed

Demand fee – Insurer premiums

$50

Removed

Discharge of security fee – urgent

$50

Removed

Low Equity fee

Varies depending on LVR

Removed

Home loan fees reduced

Fee type

Old fee

New fee

Demand fee – Default

$50

$12

Demand fee – Rates

$50

$12

Discharge of security fee

$75

$30 – full discharge* $70 – partial discharge*

Loan restructure fee

$175

$30 – simple request* $135 – complex request*

Settlement Statement fee

$45

$15

Top Up fee

$200

$185

* Full descriptions of when each fee is applicable can be found in the updated Personal Banking fees and limits brochure (PDF 170.0 KB).

Credit card fees and terms and conditions - October 2018

Credit card terms and conditions

We’ve made changes to some of our credit card fees for our personal customers and our credit card terms and conditions. These changes were effective from 15 October 2018. Download an updated copy of our Personal Banking fees and limits brochure (PDF 170.0 KB) and our credit card terms and conditions (PDF 182.0 KB). The changes have been summarised below.

Changes to credit card terms and conditions

The credit card terms and conditions changes clarify when you’ll need to reduce a positive balance on your account, refer to Clause 6 "Your credit limit and positive balances".

Credit card fees removed

Fee type

Old fee

New fee

Over limit fee

$5

$0

Statement copy fee

$5

$0

Voucher copy fee

$15

$0

Contact centre high use fee

Variable

$0

Emergency cash advance overseas

$52

$0

Credit card fees changed

Fee type

Old fee

New fee

Low Rate Mastercard® account fee

$25 every six months

$24 every six months

Domestic cash advance fee

$1 per transaction

$0.90 per transaction

Late payment fee

$3 per late payment

$5 per late payment

Replacement card fee

$10 per request

$9.50 per request

Urgent card delivery fee to a New Zealand address

$25 for metro deliveries; applicable courier charges elsewhere

$2.60 per delivery

General Terms and Conditions - June 2018

We’ve updated our General Terms and Conditions. A summary of the changes are:

  • Changes to assist us to comply with the new Code of Banking Practice;
  • Changes to clarify your and our rights and obligations in relation to certain products and services (including cards, internet and mobile banking and phone banking), and when your information may be disclosed;
  • Minor wording changes on the information we hold about you, internet banking, mobile banking and phone banking;
  • When you request certain transactions or changes within internet banking or our mobile app we may require you to enter a One Time PIN sent to your mobile number before we will process the request. The main change is set out in section 51.

These changes were effective from 1 June 2018. Download a copy of the new General Terms and Conditions (PDF 249.0 KB) brochure.

We no longer sell international bank drafts - May 2018

Our international bank draft service is now unavailable, effective Tuesday, 1 May 2018. You'll still be able to stop an international bank draft but we won't be able to issue you a replacement or a new draft.