Interest.co.nz
Commerce Commission to provide preliminary report on competition in the banking sector by August as market study gets underway
20/06/2023
“Switching banks is easy. Your new bank can arrange everything including transferring your funds from your old bank and setting up your recurring payments to your new accounts. This can be done within five working days, and you don’t even need to talk to your old bank,” says Beaumont.
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Banks will engage constructively with competition study
19/06/2023
The banking industry looks forward to participating in the competition study into retail banking announced by the government today says the New Zealand Banking Association – Te Rangapū Pēke. “We believe the enquiry will ease any concerns in the community about competition and innovation in the banking industry. Our banks are transparent, and will engage...
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NZ Herald
Bank profits: Commerce Commission inquiry set to be launched tomorrow after political calls for action
19/06/2023
“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 at the time.
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Interest.co.nz
Button set to be pushed on market study into the banking industry on Tuesday
19/06/2023
Beaumont said NZ’s banks were profitable, well-regulated and resilient, and that was important in the current economic climate.
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RNZ
House prices dip again, but market may be close to bottoming out – Corelogic
01/06/2023
Credit bureau Centrix’s latest data indicated mortgage arrears rose for the seventh consecutive month, with just under 19,000 people behind on repayments, which equated to 1.3 percent of mortgages, while the Bankers Association reported nearly 45 percent of mortgage holders were ahead on their repayments at the end of 2022.
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Stuff
Here’s how blocking New Zealanders from international gambling might work
30/05/2023
The New Zealand Banking Association submitted in 2019 that gambling providers and their customers could also circumvent that measure, for example by accepting and making deposits using other international payment services such as PayPal, WeChat and AliPay.
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Spotlight on a day in the life of a financial mentor
29/05/2023
Decision makers from government and the financial sector are spending time with financial mentors to get practical insights into their daily work and the assistance they offer clients experiencing vulnerability and financial difficulties. The initiative, called A Day in the Life, is part of a partnership between FinCap and the New Zealand Banking Association –...
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NZ Herald
Tūrangi banking hub trial cancelled due to lack of a suitable building
25/05/2023
“Due to a range of issues, primarily low seismic building ratings that would put staff and customers at risk in case of an earthquake, we have not been able to secure a suitable location.”
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NZ Herald
Auckland floods: Bank takes insurance payout for home, leaving owners high and dry
18/05/2023
“Our banks are part of the communities they serve and responded quickly as the flooding and cyclone events unfolded, making $1.4 billion available in low-cost lending, and donating $6.5 million to disaster relief funds. They also provided loan repayment relief and access to term deposits.”
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NZ Herald
Whangamatā among four towns to get regional banking hub
15/05/2023
The new hub in Whangamatā will be located in a stand-alone location and have a multi-bank Smart ATM and a coin and note change service. A concierge will be available to assist customers access the services, which include an ATM, tablet for online banking, and phone. These services will be available in private areas to...
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