- “If you wanted to switch banks today you would simply go into the new bank and sign an authorisation form and all of that process would happen behind the scenes within five working days,” said Roger Beaumont of the New Zealand Banking Association.
- “The industry would welcome the opportunity to discuss bank profits and the contribution banks make to support the New Zealand economy, households and businesses,” Beaumont said. “There’s also legislation in the pipeline to help people safely share their banking information with other service providers, which will support even more competition.”
- “There’s also legislation in the pipeline to help people safely share their banking information with other service providers, which will support even more competition.”
- The New Zealand Banking Association in October submitted to the Ministry of Business, Innovation and Employment about introducing a permanent exemption to enable banks to provide customers with emergency credit in cases like natural disasters.
- “ATMs need both power and an internet connection to function, which means a generator alone might not be enough to facilitate access to cash in an event like Cyclone Gabrielle.”
- “Banks also operate in a competitive market and work hard to attract and retain customers,” chief executive Roger Beaumont said. We’d encourage merchants concerned about their fees to talk to their bank.”
