- “If you’re considering borrowing from your bank, it’s always worth having a chat with them to find out what they’ll be looking for and what you can do to help get your application over the line.
- In response to the Reserve Bank governor’s recent comments about banks supporting households and businesses in the face of an historic rise in the official cash rate, New Zealand Bankers’ Association chief executive Roger Beaumont says: “Our banks are ready to support customers who are doing it tough because of the rising cost of living and... Read more »
- He said these cases were often very sensitive and complicated by the bank’s customer obligations to both domestic partners who may have joint accounts, home loans or credit cards. “Joint products usually need the consent of both customers to make any changes. Issues can arise when one party refuses consent.”
- “Banks play a part in helping to identify instances of economic harm. They train staff to recognise signs of potential economic harm while being sensitive to customers’ situations and wishes.”
- Banks are working to help customers experiencing economic abuse, says the New Zealand Bankers’ Association today ahead of International Economic Harm Awareness Day on November 26th. Economic abuse is a form of family violence that can affect anyone, regardless of their personal circumstances or background and, like other forms of family violence, it predominantly impacts... Read more »
- “The hubs trial is designed for small communities that no longer support bank branches due to lack of customer demand, or never had them. Stratford still has a bank branch. Locals who prefer face to face banking may wish to consider switching to that bank. Switching is easy and quick, with the new bank taking... Read more »
- “Our research shows that around two-thirds of New Zealanders think sharing your banking information with third parties to access other financial services is either a bad idea or they don’t understand it,” CEO Roger Beaumont said.
- Introduction of the tool has also been opposed by banks, with bank lobby group the New Zealand Bankers’ Association maintaining “there’s a real risk of adverse customer impact” if the RBNZ introduces a DTI tool.
- Bankers’ Association Chief Executive Roger Beaumont says their research indicates about two-thirds of Kiwis are opposed to the concept of open banking, or don’t understand it. He says that means there’s an obligation on the Government, who are setting this up, to educate people on what it means.
- Beaumont warned that the weight of other banking regulation being imposed by government and the Reserve Bank meant that banks would “need time to enable quality products that will excite New Zealand consumers”.
