Banks to start rolling out Confirmation of Payee in November
09/10/2024
New Zealand’s retail banks will start rolling out the new Confirmation of Payee service by the end of November this year, says the New Zealand Banking Association. It will be a phased delivery to customers to ensure proper testing and customer satisfaction. Confirmation of Payee will provide bank customers with an extra level of reassurance...
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NZ Adviser
NZ bank customers stay resilient
09/10/2024
Despite tough economic conditions, New Zealand bank customers are handling their financial responsibilities well, according to the New Zealand Banking Association’s latest retail banking insights for January to June 2024.
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Interest.co.nz
NZ Banking Association says despite tough economic conditions, ‘the vast majority of New Zealanders’ are managing their financial situation well
08/10/2024
The NZBA figures show that there are 9.86 million unique banking customers. Of those, 9,267 customers applied for hardship status, up 1% from the period between July 2023 and December 2023. 5,968 customers were granted hardship status, up 6.9%.
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Bank customers resilient in the face of economic headwinds
07/10/2024
Bank customers are managing their money relatively well in the current economic conditions according to retail banking insights released today by the New Zealand Banking Association. The insights from January to June this year showed customers continued to use credit cards prudently and were maintaining home loan repayments. Of the 2.23 million customers who had...
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TVNZ
Work underway to support homeowners facing debt under flood buyout scheme
07/10/2024
The New Zealand Banking Association said banks have “dedicated hardship teams who can talk through available options”.
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NZ Herald
Banking Ombudsman refuses compensation for $250k scam victim, despite ASB manager helping transfer money to thieves
03/10/2024
Banking Association chief executive Roger Beaumont said banks had responded to the minister in line with his February letter and were “discussing next steps”.
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RNZ
Auckland floods: Some damaged properties now worth less than owner’s mortgage
29/09/2024
Hobbs said council had been working with the New Zealand Banking Association to see how they might be able to support people in negative equity, but it was case by case and homeowners should contact their bank to discuss options.
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NZ Adviser
Banks boost support for farmers
28/09/2024
“Our banks know that some farmers are doing it tough in the current economic environment, so it made sense to fill the funding gap for the Farm Business Advice Fund, and to renew the annual sponsorship arrangement for the Rural Support Trust,” Beaumont said.
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Banks increase funding to support farmers in need
25/09/2024
Banks are stepping up to fully fund the Farm Business Advice Fund for farmers who are under considerable business pressure, as well as continuing their sponsorship of the National Rural Support Trust. The Farm Business Advice Fund was established in 2020 to provide up to $6,000 for farmers in need to obtain financial or business...
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NZ Herald
Banking Ombudsman says scams surging, cost-of-living crisis a worry for many customers
23/09/2024
Earlier this year, NZ Banking Association chief executive Roger Beaumont urged telcos and social media platforms to take down fake websites.
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