Month: November 2022

Deposit Takers Bill

Finance and Expenditure Committee

Banks ready to support customers through tough times

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 »

Financial abuse must become a crime, anti-violence campaigners say

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 supporting customers against economic abuse

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 »

Banking not made simple for 97-year-old man in rural Taranaki town

“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 »

Accreditation warning over move to bring in open banking

“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.