- New Zealand’s banks are bringing in a suite of new measures aligned with global best practice to further protect New Zealanders from criminal scammers. The New Zealand Banking Association today announced a suite of consumer protections that will be progressively rolled out over the next seven months. The banks’ consumer protections will include: Pre-transaction warnings... Read more »
- Retail banking insights released today by the New Zealand Banking Association showed both the number and value of home loans in the second half of 2024 increased significantly compared to the first half. The insights show there were 56,938 new home loans in July to December 2024, up 21% from the previous six months. The... Read more »
- 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... Read more »
- 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... Read more »
- Banks are stepping up to fully fund the Farm Business Advice Fund for farmers who are under considerable business pressure, as well as continuing their sponsorship of the National Rural Support Trust. The Farm Business Advice Fund was established in 2020 to provide up to $6,000 for farmers in need to obtain financial or business... Read more »
- The New Zealand Banking Association today welcomed the Commerce Commission’s final report on its market study into personal banking services, especially its focus on regulatory barriers to increased competition in the sector. New Zealand Banking Association chief executive Roger Beaumont says: “The Commission has taken a well-informed and considered approach to the market study, which... Read more »
- The banking industry welcomes the government’s removal of affordability regulations under the Credit Contracts and Consumer Finance Act, and update of the Responsible Lending Code, to help improve access to lending. New Zealand Banking Association chief executive Roger Beaumont says: “We are pleased to see the removal of overly prescriptive affordability assessments. This will help... Read more »
- New Zealand’s five largest banks will extend their current commitment not to close regional branches for the next three years, as part of the conclusion of the regional banking hubs trial. “Banks understand their importance as part of the fabric of regional New Zealand,” says New Zealand Banking Association chief executive Roger Beaumont. “That’s why our... Read more »
- New Zealand’s retail banks are on track to start rolling out a confirmation of payee service by the end of the year, says the New Zealand Banking Association. “We’ve just completed a competitive selection process and now have a preferred provider for the service. We won’t be able to announce the name of that provider... Read more »
- The number of new home loans increased by nearly 30% in the six months to December 2023 according to retail banking insights released today by the New Zealand Banking Association. There were 52,504 new home loans from June to December, which is an increase of 29.8% compared to 40,438 new loans in the previous six... Read more »
