Interest.co.nz
New Zealand banks to launch Confirmation of Payee service for more secure payments by end of November, full rollout expected by Easter 2025
10/10/2024
According to Beaumont, this means the confirmation of payee service might not be available across all online banking platforms “simultaneously” but retail banks want to have the service available across all online personal banking channels by Easter 2025.
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Stuff
New scam-busting banking system not good enough says campaigner
10/10/2024
Banking Association chief executive Roger Beaumont acknowledged that it would take different banks different lengths of time to test and deliver the system. “The technology build and integration of the new service differs across banks, so it’s unsurprising that each bank’s testing and delivery phase looks slightly different.”
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Business Desk
Banks to launch anti-scam measure, confirmation of payees, next month
10/10/2024
The New Zealand Banking Association said confirmation of payee will provide an extra layer of reassurance for customers in NZ, but cautioned people not to be complacent.
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NZ Herald
Anti-scam measure: Banks set date for rollout of payee confirmation – but advocate wants victim reimbursement, too
10/10/2024
The system will not fully protect them from scams and criminals will continue to look for ways to trick customers into making payments, Beaumont said.
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Interest.co.nz
Banks start trimming, or thinking about cutting, their mortgage serviceability rates, opening the door to higher borrowing capacity
10/10/2024
The latest Retail Banking Insights publication from the New Zealand Banking Association – the banking lobby group – found 39.7% of mortgage holders in NZ were ahead of minimum mortgage repayments.
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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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