Law requires banks to freeze some accounts
28/06/2018
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...
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Newsroom
Bank staff stressed by conflicted sales targets
26/06/2018
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.
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Stuff.co.nz
Time for a ban on bank sales targets in NZ, says union
25/06/2018
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.
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NZ Herald
There is ‘strong interest’ in a Wellington home, despite buyers not being allowed inside
18/06/2018
New Zealand Bankers’ Association deputy chief executive Antony Buick-Constable said mortgagee sales were always “the last resort for banks”.
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How you can help prevent financial elder abuse
14/06/2018
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...
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NZ Herald
Agencies hitting back against scammers are fighting a never-ending war
12/06/2018
“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.”
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NZ Herald
Reserve Bank plans to crack down on bank boards
11/06/2018
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.
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NZ Herald
NZ banks warn customers could have accounts frozen over foreign tax status
05/06/2018
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.
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Interest.co.nz
Federated Farmers’ member survey shows farmer satisfaction with banks holding at about 80% positive
05/06/2018
“Banks work closely with their agri clients, through good times and bad. Keeping the lines of communication open is critical to the ongoing success of farmers and their banks.”
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International requirements may freeze your bank account
04/06/2018
New Zealand banks are reminding customers who have been asked about their foreign tax status that they need to respond to their bank as soon as possible. International regulations, reflected in New Zealand law, require New Zealand banks to undertake due diligence on the foreign tax status of their customers and provide relevant related information...
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