Compare accounts, rates and fees

Compare the interest rates, transaction fees and limits on our everyday and savings business accounts.

Everyday and savings business accounts

Interest rates are subject to change. Service fees may apply.

 

Everyday

Savings

Savings

Savings

 

Business Edge

Business Performer1

Business Notice Saver2

Business Online Call

Interest rates

for balances

for balances

for balances

for balances

for for 32 days and 90 days notice period for balances $0 - $1,999

for 32 days notice period for balances $2,000+

for 90 days notice period for balances $2,000+

for balances

for balances

Please note interest breakdown3.

Transaction fees

Account management fee

$5 per month

Free

Free

Free

Bulk payments fee (multiple payments and batch uploads)

$0.20 per item

$0.20 per item

Deposit fee4

Free electronic deposits

First 25 manual deposits at a Kiwibank branch are free per business per month, then $1 per manual deposit

First 25 electronic deposits are free per business per month, then $0.35 per electronic deposit

First 25 manual deposits at a Kiwibank branch are free per business per month, then $1 per manual deposit

First 100 electronic deposits are free per business per month, then $2 per electronic deposit

First 100 manual deposits at a Kiwibank branch are free per business per month, then $2 per manual deposit

Electronic transfers between your Kiwibank accounts5

Free

Free

Free

Free

Withdrawal fee - ATM6

Free

Withdrawal fee - automatic payment, bill payment and direct debit

Free

$0.35 per withdrawal

Withdrawal fee - EFTPOS and online

Free

Withdrawal fee - Kiwibank branch

$0.70 per withdrawal

$0.70 per withdrawal

Inoperative account management fee

When you haven’t initiated any transactions for one year and have a balance of less than $200 across all your everyday and savings account(s).

$30 per year. This fee is charged across all your everyday and savings account(s).

If there's less than $30 across all your everyday and savings account(s), we'll take whatever balance is in your account(s). Accounts with $0 balance before or after the fee is charged will be closed.

1 If you’re a national club, society, non-profit organisation or association, there are no monthly account management or transaction fees.

2 There are no transaction fees on our Business Notice Saver account, however early withdrawal charges may apply.

3 Breakdown of interest for Business Online Call below.

Business 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

Bonus rate

Total rate

4 A cash handling fee will apply where you deposit more than $4,000 worth of notes or $200 worth of coins each day or where you withdraw more than $4,000 worth of cash each day.

5 Free transfers are only between Kiwibank accounts that are in the same name.

6 There are also service fees relating to other ATM transactions, for example if you choose to use an overseas ATM.

Make sure you also look at the sections in our business banking fees and limits brochure (PDF 117.4 KB) on service fees and international services fees.

Early withdrawal or termination charges

There are no transaction fees on our Term Deposit, PIE Term Deposit or Notice Saver accounts. However early withdrawal or termination charges may apply as follows:

Term Deposit early termination charge

If you need to break your term deposit early a charge may apply to the interest you'll receive on the amount you want to withdraw. The charge is a reduction to the interest you’ll receive on the amount you want to withdraw early.

The interest rate you'll receive on the money you withdraw early will be the lower of:

  • The advertised rate on the day your application to break is approved, for the number of days the money was actually invested, less 2%; or
  • The advertised rate on the day the term deposit was opened, for the number of days the money was actually invested, less 2%.

Visit our breaking a term deposit early page for more details.

PIE Term Deposit early termination charge

If you break a PIE Term Deposit an early termination charge may apply. The charge is a reduction to the return payable to you on the amount you want to withdraw early.

The rate of return that'll be applied to the amount of money you want to withdraw will be your original rate of return less 2%, while the return payable to you will be calculated using the following formula:

Reduced return to be paid = amount to be withdrawn × (days invested ÷ 365) × (original rate of return − 2%) where the original rate of return is the rate of return we agreed when you invested.

Visit our breaking a term deposit early page for more details.

Notice Saver immediate withdrawal charge

When you request an immediate withdrawal of part or all of your money from Notice Saver without giving the required notice.

The amount of the charge varies depending on the amount being withdrawn, the current rate of return for your Notice Saver and the length of the required notice period.

The immediate withdrawal charge is based on the lesser of:

  • the amount withdrawn multiplied by the current rate of return divided by the number of days in the year. This is then multiplied by the notice period;
  • the interest earned and accrued over the previous period equivalent to the notice period.

Service fees

See the fees you may pay for services on our business accounts and products.

Account access fees

Contact centre and/or automated phone banking high use fee (applies across all your banking)

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 Business Banking fees and limits brochure (PDF 117.4 KB) will apply:

  • $5 per call to a customer service representative; or
  • $0.50 per call to the automated phone banking system.

If you’re calling from overseas, charges by your network provider may apply.

Account general service fees

Account out of order fee

When your account goes into unauthorised overdraft by more than $20 at any time during the month

$10 per month

Cash handling fee - deposits

When you deposit cash at a Kiwibank branch

  • Free up to and including $4,000 worth of notes or $200 worth of coins per business per day
  • If more than $4,000 worth of notes per business per day, then 0.35% of the total value of notes
  • If more than $200 worth of coins per business per day, then 0.35% of the total value of coins

Minimum fee $5

Cash handling fee - withdrawals

When you withdraw cash at a Kiwibank branch

  • Free up to and including $4,000 worth of cash per business per day
  • If more than $4,000 worth of cash per business per day, then 0.35% of the total value of cash.

Minimum fee $5

Change order fee

When you order change by internet banking for collection at a Kiwibank branch

  • $3 per change order
  • The maximum order amount is $3,000
  • $15 per change order not collected within two business days of the collection date

Dishonour fee

When there isn’t enough money in your account to make an automatic payment, bill payment or direct debit, and the payment isn’t made as a result

$2.50 per payment not made

Investigation fee

When you ask us to investigate something about your account.

$60 per hour; minimum fee $15

Payment retrieval fee

When you make a payment in error and ask us to retrieve the payment (even if the retrieval is unsuccessful)

  • $20 if the payment in error was made to a Kiwibank account
  • $45 if the payment in error was made to an account at another bank
ATM, EFTPOS card and Visa Debit Card fees

ATM/EFTPOS card replacement fee

When you ask for a replacement ATM/EFTPOS card

$15

Overseas ATM balance enquiry fee

When you use your ATM/EFTPOS card or Visa Debit Card to make an ATM balance enquiry at an overseas ATM

$1 per balance enquiry

Overseas ATM cash withdrawal fee

When you use your ATM/EFTPOS card or Visa Debit Card to withdraw cash at an overseas ATM

$6 per withdrawal

Overseas currency conversion commission

When you use your ATM/EFTPOS card or Visa Debit Card for a foreign currency transaction

2.5% of the New Zealand dollar amount once converted

Visa Debit Card annual fee

What you’ll pay to have your Visa Debit Card

$10 per card per annum (waived for the first year of the first card)

Visa Debit Card cash advance fee

When you use your Visa Debit Card to withdraw cash over the counter at another bank or financial institution

$6 per withdrawal

Visa Debit Card disputed transaction fee

When you dispute a transaction made using your Visa Debit Card

$15 per transaction receipt requested

The investigation fee may also apply.

Visa Debit Card replacement card fee

When you ask for a replacement Visa Debit Card

  • $15 for standard delivery within New Zealand
  • $20 for urgent delivery within New Zealand
  • $20 for standard international delivery
  • $50 for urgent international delivery
Set up or change fees

Automatic payments/recurring transfers set up and change fee

When you set up or change an automatic payment/recurring transfer

Free for 30 days from account opening, then:

  • $5 per set up or change when done person to person at a Kiwibank branch or over the phone;
  • $3.50 per change when done using the automated phone banking system; and
  • Free set up/change when done by internet banking

This fee also applies if you choose to skip a scheduled payment/transfer. This fee doesn’t apply when you make one-off, manual or ad hoc payments between your accounts to someone else’s account or to pay a bill.

Bill payee set up and change fee

When you set up or change a bill payee

Free for 30 days from account opening, then:

  • $5 per set up/change when done person to person at a Kiwibank branch or over the phone;
  • free for set up/change for one-off payments when done by internet banking

Dynamic Sweep fee

What you’ll pay to have Dynamic Sweep

$1 per month

The Dynamic Sweep set up and change fee also applies.

Dynamic Sweep set up and change fee

When you set up or change Dynamic Sweep

  • Free for 30 days from account opening then $3 per set up/change

A monthly fee also applies to Dynamic Sweep.

Statement fees

Statement copy fee

When you ask us for a copy of an account statement

$4 per statement

Transaction history printout at branch fee

When you ask us for a transaction history printout at a Kiwibank branch

  • $0.30 per request for a basic transaction history (available from a customer service representative)
  • $4 per request for a detailed transaction history (available from a Kiwibank banking representative)

Limits

Maximum amount for ATM withdrawals

The maximum amount that you can withdraw from ATMs using your ATM/EFTPOS card or Visa Debit Card.

$2,500 per day.

Maximum amount for purchases

The maximum amount that you can purchase using your ATM/EFTPOS card or Visa Debit Card.

$5,000 per day.

Maximum amount for withdrawals and purchases from an account

The maximum amount that you can withdraw from an account using ATM/EFTPOS cards and Visa Debit Cards linked to that account.

$5,000 per day.