We’re moving our Business Mastercard® to the Business Low Rate Visa. Here's some answers to your most common questions.

Making the change to Visa

What do I have to do to get my new card?
  • For existing business credit card customers, nothing – we’ll be in touch with you about moving to the new card and what to expect.
  • For new customers, you can apply now for the Business Low Rate Visa.
When will I get my new Business Low Rate Visa credit card?

We’ll start moving existing customers with Business Mastercards over to the Business Low Rate Visa credit cards from early August. There’s nothing you need to do now. We’ll be in touch a few weeks before your new Visa card is sent.

When will my Business Mastercard stop working?

We'll let you know the exact date on the letter that comes with your card. Your current Business Mastercard will continue to work for at least one month after your Visa is sent. This will give you time to activate it and update any regular payments.

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.

Can I request that my new card gets sent to a different address?

Yes – get in touch with us as soon as you can to change your address.

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.

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