- “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.”
- Some New Zealanders are having their bank accounts frozen because of OECD regulations reflected in New Zealand law, which requires banks to comply. “If your bank has asked you about your foreign tax status, you should respond as soon as possible, regardless of your tax status,” says New Zealand Bankers’ Association deputy chief executive Antony... Read more »
- 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.
- If you see, or are aware of, any signs of financial elder abuse then it’s important you call for help. That is the key message from the New Zealand Bankers’ Association as Elder Abuse Awareness Week is launched today. “Financial elder abuse can include everything from illegal or wrongful use of older people’s money, their... Read more »
- “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.
- Antony Buick-Constable, Deputy Chief Executive Most of us have bank accounts. If you do, it’s worth checking out the revised Code of Banking Practice that was launched on 1 June 2018. Your bank wants you to have a good experience, and the latest Code shows you how they’ll do it. Banking is all about meeting customer needs... Read more »
- 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.
