Reserve Bank of New Zealand – Te Pūtea Matua
Author: Philip vanDyk
KB Kookmin Bank, one of South Korea’s largest banks, pulls out of New Zealand market
According to Beaumont, two overseas banks have announced in the past 18 months that they are exiting the retail market, which is a setback for competition.
Wellington sees big jump in properties coming to market
New Zealand Banking Association chief executive Roger Beaumont said only 1.4% of home loan customers were behind on their repayments.
Consultation: Proposed 2024 Amendments to Climate and Assurance Standards
External Reporting Board
Consultation: Regulatory returns for financial institution licensees
Financial Markets Authority
How to be financially average
The NZ Banking Association said the average savings account balance in June was $15,800.
Australia to ban debit card payment surcharges – should NZ follow suit?
“Whether or not merchants charge their customers for the cost of processing card payments is a matter for them. Some may prefer to pass on the cost, while others may absorb it as a cost of doing business,” said NZBA chief executive Roger Beaumont in a statement.
New Zealand banks to launch Confirmation of Payee service for more secure payments by end of November, full rollout expected by Easter 2025
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.
New scam-busting banking system not good enough says campaigner
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.”
Banks to launch anti-scam measure, confirmation of payees, next month
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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