New Zealand Bankers’ Association chief executive Karen Scott-Howman said a recent report found New Zealand led the world in digital banking uptake. More than 80 per cent of New Zealanders now prefer to manage their money online.
Switching may be relatively low because New Zealanders rate their banks highly. This was reflected in Consumer NZ’s banking satisfaction survey last year, which found that 86 per cent of customers were satisfied with their bank.
Reserve Bank of New Zealand
The government’s prudent financial management provides a solid grounding for the New Zealand economy, households and businesses, says the New Zealand Bankers’ Association today in response to Budget 2017.
The government’s prudent financial management provides a solid grounding for the New Zealand economy, households and businesses, says the New Zealand Bankers’ Association today in response to Budget 2017.
“There were no major surprises in today’s Budget. It builds on the government’s prudent approach to managing its finances and meeting our needs in a growing economy,” says New Zealand Bankers’ Association chief executive Karen Scott-Howman.
“The forecast economic growth and government surpluses are good news for New Zealand households and businesses.
“The projected surpluses will give the government more options and improve our overall resilience.
“Targeting relief for low to middle income households through changes to the tax thresholds, family tax credits and accommodation supplements makes sense, and will support economic growth.
“We’re also pleased to see increased investment in infrastructure and public services in areas of need.
“Of particular interest is the $10.2m being provided to improve young New Zealanders’ financial capability.
“The funding will allow the Commission for Financial Capability to scale up its Sorted Schools programme and its community-based programmes.
“We strongly support any initiatives to improve financial capability and knowledge in New Zealand. Financially capable people know how to manage their money and make better financial decisions. That ultimately improves personal, family and community well-being.”
ENDS
New Zealand Bankers’ Association chief executive Karen Scott-Howman confirmed banks had been approached by the Wellington group, and said: “We’re happy to discuss this, and will put them in touch with our member banks.”
The recent global randsomware attack provides a grim reminder to protect yourself online, says the New Zealand Bankers’ Association in Fraud Week 2017.
“The convenience of banking and shopping online means we sometimes forget that fraudsters are always looking for new ways to steal our money. The recent ransomware attacks around the world reminds us we all have a role in keeping ourselves safe online,” says New Zealand Bankers’ Association chief executive Karen Scott-Howman.
“The main things to remember to protect yourself from such attacks are to beware email from people you don’t know, don’t open links or attachments in suspicious email, and keep your computers and devices virus protection automatically updated and backed up.
“Similar advice applies when keeping yourself safe from social media scams. Be alert to romance and fake trader scams when using social media. Scammers try to exploit people’s trust to get money out of them.”
How to avoid being scammed on social media:
- Don’t accept invitations from people you don’t know.
- Don’t share personal information with people you haven’t met.
- Review your privacy and security settings. Take the time to understand exactly what your account publicly reveals about you.
- If your account has been compromised, report it to the social media platform.
Fraud Week runs from 15 to 19 May. The theme this year is “Spot social media scams”.
ENDS
The New Zealand Bankers’ Association chief executive Karen Scott-Howman says: “Under the law banks do not de-risk whole classes of customers. Instead, they apply their obligations under the AML/CFT regime on a case by case basis.
New Zealand banks operate in a different environment and the Australian levy won’t affect New Zealand customers.
New Zealand banks operate in a different environment from those in Australia. Here we have strong and independent regulators, a very competitive banking sector and high levels of customer satisfaction.