We’ve made some changes to our General Banking Information.

Our General Banking Information sets out the rules under which we provide banking products and services to you as a customer. They explain your rights and responsibilities, and ours.

From 2 July 2018, changes to the General Banking Information take effect. Outlined below are the changes and what they mean for you. Please take the time to read through and understand how these changes might affect you. 

By continuing to use our accounts and services, you agree to these changes.

What’s changed?

General conditions

We’ve clarified the instances when we may be required to suspend the operation of your account, to include fraudulent activity or other criminal behaviour, and other regulatory requirements including national and international tax obligations.


Use of Information

We’ve updated the Information Rights section to clarify how we may use your information. As a Bank, we’re under an obligation to provide information with other banks, agents, or other entities where necessary to assist with transactions; the police, any government body or regulator in New Zealand or overseas (including tax agencies), and any other party if required to, or authorised by, law to do so. If we believe it’s in a customer’s best interest, we can opt to provide information to reputable third parties if we become aware of any indication of financial abuse of vulnerable customers.


Unarranged overdraft fee

We’ve clarified that in the event your account becomes overdrawn by more than $20, an unarranged overdraft fee of $10 and interest (calculated at the Bank’s unarranged overdraft rate) is charged at the end of that month.

The fee won't be charged if the unarranged overdraft is corrected by 10.45pm the day following the account becoming overdrawn.


Payment trace fee

We’ve added our Payment trace fee of $2 per trace, which is charged when you ask us to trace the origin of an account deposit, or the recipient of an outward payment from your account.