We’ve moved our Business Mastercard® to the Business Low Rate Visa. Here's some answers to your most common questions. We've also added some COVID related information.

Updates due to COVID Alert Levels

When will my Business Mastercard stop working?

Your Business Mastercard will continue to work as normal until we're at an Alert Level where you can safely activate your new Business Low Rate Visa.

We understand that currently it might not be possible to activate your card by making an in-store purchase or by visiting a branch so we're extending the time you have to do this. Once we're at an Alert Level where you can safely activate, we’ll be in touch with a reminder on how to activate and how long you'll have to get your new card up and running.

I need to activate my Business Low Rate Visa at Alert Level 3 or 4, how can I do this?

You can activate your new card within internet banking:

  • Login to internet banking, click on your Business Low Rate Visa credit card, click Additional Options and Details then press Activate next to Card Status.

If you don’t have internet banking set up give us a call and one of the team can help you.

Why can I still see my Business Mastercard account alongside my Business Low Rate Visa in internet banking?

Due to Alert Level restrictions, we've extended how long customers have to activate their Business Low Rate Visa. We've also extended the amount of time that you can use your Business Mastercard to ensure that all customers have access to funds, which is why you'll see both cards and accounts in internet banking.

Making the change to Visa

What happens to the outstanding balance I have on my Business Mastercard when I get the new Business Low Rate Visa?

When we send your new Visa card, we'll also transfer your balance over at the same time which will mean that your Mastercard balance will show as $0. The balance you did owe on your Mastercard will now show on your Visa. From that stage, any new transactions will appear on your Visa even if they were made on your Mastercard.

Do I have to update any regular payments when I get my new card?

Yes. Once you receive your new card you'll need to ensure any regular payments are updated – for example Uber.

Activating and using your new card

Once I activate my new Business Low Rate Visa credit card, will this automatically de-activate my Business Mastercard?

No. Your Mastercard will be a given a 'closure date'. This is the day that your Mastercard will stop working. This isn’t linked to the day you activate your new card. As you get closer to the closure date, if you haven't yet activated your Visa we'll send you reminders.

Do I need to change how I pay my credit card bill?

No there's nothing you need to do differently. Keep making payments on your card in the usual way - whether it's via the mobile app, through internet banking, in person or over the phone.

What happens to my existing PIN?
  • If you or your cardholder already have a PIN loaded on your Business Mastercard – there's no need to do anything as the PIN will be transferred over to the new Business Low Rate Visa.
  • If you don’t have a PIN on your existing Mastercard, you'll need to put one on your new Business Low Rate Visa card to activate it. Drop in to your nearest Kiwibank with a valid photo ID, like your passport or driver license, and we’ll get you set up.
What if I'm not able to activate my new Business Low Rate Visa card before my Business Mastercard stops working?

If you're unable to activate your card before the Mastercard closure date mentioned in the letter that comes with your new Business Low Rate Visa, you can contact us to discuss changing this to a date that better suits you and your business.

Due to current COVID restrictions, we're extending the time you have to activate your Visa before your Mastercard stops working. Once we're at an Alert Level where you can safely activate, we’ll be back in touch with a reminder on how to do this and how long you will have to get your new card up and running.

Do I need to do anything with my third-party data feeds such as Xero or MYOB?

No, there's nothing you need to do. We'll transfer these over for you.

What happens to existing bookings I've made with my Business Mastercard, like hotel bookings?
  • If you've already paid for your booking, nothing should need to change.
  • If you've provided your Mastercard details but haven't paid yet, you'll need to change these to your new Visa card. Get in touch directly with anyone you've booked with to get the details updated.
What does the Corporate Liability Waiver Insurance include?

We're helping protect your business and card against misuse by an employee or ex-employee. This new cover comes at no extra cost.

Statements

Will I get two statements - one for my new Visa card and one for my Mastercard until it's closed?

No, you'll only get one statement which will include any transactions you made with both the Mastercard and Visa. Once the Mastercard is closed your statement will only show your Visa transactions.

Why does my statement look different?

We've improved the statement design to give you better visability of where money is being spent. Read some tips about understanding your statements.

Outside New Zealand during the move

What do I do if I'm travelling during the move to Visa?

Your Mastercard will still work for at least one month after your Visa is sent. If you're travelling during the move to Visa, you can either arrange to have the card sent to an alternative address or extend the closure date of the Mastercard to a date that better suits you and your business. Contact us to discuss these options.

What do I do if I'm based overseas?

If you, or one of your cardholders live overseas, contact us as soon as possible to arrange for the card to be sent directly to you or your cardholder overseas.

Still can't find what you're looking for?

Get in touch with our team