- “If you don’t respond, or if your response is incomplete, your bank is required to freeze or close accounts opened from 1 July 2017 to comply with the law. Banks have started freezing or closing affected accounts this week.”
- Sedgwick recommended that any bonuses be based on a range of measures, including factors like customer satisfaction. Some of our banks have already completed this work.
- New Zealand Bankers’ Association deputy chief executive Antony Buick-Constable said the organisation’s latest Code of Banking Practice made a clear commitment to treat customers fairly and reasonably in a consistent and ethical way.
- “Your bank will reimburse any losses for unauthorised electronic banking or card fraud if you took reasonable steps to protect your banking, and complied with your terms and conditions.”
- The New Zealand regulators have annual work programmes to improve the governance and operations of our banking environment. Banks here work regularly with them on these initiatives.
- Banks need to ask certain customers to provide information about their tax status. If you’ve been contacted, it’s important that you respond to your bank, regardless of your tax status.
- “Banks work closely with their agri clients, through good times and bad. Keeping the lines of communication open is critical to the ongoing success of farmers and their banks.”
- The New Zealand Bankers’ Association has announced the launch of a new edition of the Code of Banking Practice, aiming to give all customers a good banking experience.
- New Zealand Bankers’ Association deputy chief executive Antony Buick-Constable said it was strongly recommended that people check out online sales websites before making purchases.