Media

NZ Herald - Face to face banking fees should be dropped – Age Concern

June 16, 2021 - “Anyone concerned about their bank fees should talk to their bank to discuss their particular situation and how they can avoid fees,” he said. “Some banks waive fees for older customers. Everyone’s circumstances are a bit different and it pays to have a chat about how your bank can help you.”

Otago Daily Times - Just you wait

June 14, 2021 - Beaumont said banks understood change could be difficult for some customers. “When these often challenging decisions are made, banks put in place significant programmes to communicate and support their customers through the change.”

NZ Herald - Diana Clement: It pays to switch banks and the good news is it’s easy

May 30, 2021 - The New Zealand Bankers’ Association says for banking talk to your new bank, which will provide you with a Switching Bank Request Form. Once you’ve completed and returned that form your bank will identify and transfer over all your recurring payments, taking most of the pain away. Nice.

NZ Herald - First-home buyers: $100k in the bank and still no luck in the market

May 22, 2021 - Beaumont said banks lend where they can, subject to lending criteria, which includes the borrower’s equity or deposit and their ability to repay the loan, so they weren’t “going in over their head”.

NBR - Business Banks grilled over branch closures

May 19, 2021 - Politicians from both sides of the House sought answers on how banks would protect the estimated 1% to 2% of customers who were likely to never access digital banking services. NZBA chief executive Roger Beaumont said phone banking was an “elegant solution” for customers in this situation, because most still had a landline.

NZ Herald - Northland Mayor John Carter slams banks for ‘ignoring’ rural NZ

May 18, 2021 - “It’s great to have interest in our banking hubs trial from regions like the Far North. Banks are closing some branches because customers prefer more convenient ways of banking. Some branches get fewer than 10 customers a day.”

RNZ - Demise of bank branch: Are regional banking hubs the future?

May 12, 2021 - Roger Beaumont talks to RNZ’s Kathryn Ryan about the regional Banking Hubs trial.

Stuff - Bank term deposit rates are so low savers can’t be bothered putting savings in them

May 2, 2021 - “In short, money is relatively cheap at the moment. That’s driven by a number of things, including the all-time low official cash rate, set by the Reserve Bank, which is currently at 0.25 per cent. Other factors include the cost of overseas funding, and Reserve Bank initiatives to increase the supply of money.

Newsroom - Banks want small-timers to pay higher levies to guarantee deposits

April 27, 2021 - “One issue that will need working through is how the levies to fund the scheme are applied to participating entities,” said Roger Beaumont, chief executive of the NZ Bankers’ Association. “We support a risk-based approach to setting levies where lower risk entities, such as banks, pay lower levies because they are less likely to call on... Read more »

Regulation Asia - New Zealand to Introduce Deposit Guarantee Scheme by 2023

April 23, 2021 - Beaumont also said the deposit protection scheme needs to take into account the higher minimum capital requirements to be phased in for banks, which he says will come at a high cost and is intended to help banks withstand a one-in-200-year shock.