Changes to our standard terms and conditions
Effective from 20 November 2024
We’re making changes to our standard terms and conditions.
The changes include:
- updating clause 2.3 and adding new section 23 on pages 6 and 33, to specify how customers under 18 years old can operate their accounts
- updating clause 3.6 on page 9, to describe the information we will now use and provide about payees for certain electronic payments
- updating clause 11.2(c) and 11.3(b)(ii) on page 17, to redefine our disclosure of customers’ information to help stop crime
- renumbering sections after section 23
- correcting minor typographical errors, and making other clarifying or formatting changes.
View the current BNZ standard terms and conditions (PDF 310KB).
View the updated BNZ standard terms and conditions (PDF 294KB), effective from 20 November 2024.
For more information, visit any BNZ branch or call us on 0800 275 269.
Changes to BNZ Merchant Agreement Master terms and conditions
Effective from 30 November 2024
We’re launching a new merchant payment solution called Payap. As a result, we’re making changes to our BNZ Merchant Agreement Master terms and conditions to reflect the inclusion of Payap.
The changes we’re making include:
- adding new defined terms ‘alternative payment technology’, ‘Payap’, ‘payment scheme’
- updating clauses 19.3, 28.3, and 28.9 to include payment schemes
- amending clause 6.8 to require retention of receipts for at least eighteen (18) months after a transaction
- making other clarifying or formatting changes.
View our current BNZ Merchant Agreement Master terms and conditions (PDF 237KB).
View our updated BNZ Merchant Agreement Master terms and conditions (PDF 220KB), effective from 30 November 2024.
For more information, visit any BNZ branch, or call us on 0800 275 269.
Changes to BNZ Merchant Service Guide
Effective from 29 October 2024
We’re making changes to our BNZ Merchant Service Guide.
The changes include:
- adding an example of a new statement with updated key
- adding content about Payap, our newly launched payment solution
- making other clarifying or formatting changes.
View our current BNZ Merchant Service Guide (PDF 499KB).
View our updated BNZ Merchant Service Guide (PDF 805KB).
For more information, visit any BNZ branch, or call us on 0800 275 269.
Changes to business fees guide
Effective from 31 October 2024
We’re making changes to our Business and Agribusiness Account and service fees guide.
The changes include:
- moving the section for MyMoney for Business, which is no longer on sale, from page 1 to page 3
- clarifying interest details for unarranged overdrafts, on pages 1, 2, and 3
- changing details for Business First Transact, on page 1, including:
- reducing transaction fees
- electronic fee from $0.20 to ‘no charge’
- manual fee from $1.00 to ‘no charge’
- removing reference to Pay As You Go Plan
- adding eligibility criteria
- reducing transaction fees
- clarifying the withdrawal fee for Rapid Save accounts, on page 2
- removing the section for Business First Control Visa on page 5, as this is no longer available
- clarifying the details for cash handling fees, and clarifying calculation days, on page 6
- correcting minor typographical errors, and making other clarifying or formatting changes.
View our current Business and Agribusiness Account and service fees guide (PDF 144KB).
View our updated Business and Agribusiness Account and service fees guide (PDF 119KB), effective from 31 October 2024.
For more information, visit any BNZ branch or call us on 0800 275 269.
Changes to foreign currency account interest rates
Effective from 16 October 2024
Our foreign currency account credit interest rates will decrease.
Foreign currency interest rates can change without notice. The most up to date interest rates can be found on our Foreign currency accounts page.
If you need more information, call us on 0800 275 269.
Removal of LENSecure from BNZ credit and debit cards
Effective from 18 October 2024
As part of a nation-wide upgrade to BNZ ATMs, LENSecure has been discontinued and removed from BNZ credit and debit cards. This liquid encryption technology was used to update the security information on a BNZ card’s magnetic strip each time it was used at a BNZ ATM. This meant that in the unlikely event a card was copied by someone, the fake card would become outdated and allow us to detect that.
Learn how BNZ is continuing to keep your information secure and protecting you from fraud.
If you need more information, please call us on 0800 275 269.
Changes to Business First Control credit card facility
Effective from 7 October 2024
We’re changing our Business First Control Visa credit cards facility to our Purchasing cards facility.
The changes we’re making include:
- changing the facility name to ‘Purchasing cards’
- changing the card fees from $6.25 per card per quarter to $2 per card per month - a saving of $1 per card per year
- updating the plastic card design to the Purchasing card design on all new, expired, or replacement cards. All existing cardholders can continue to use their current cards as normal.
BNZ Business First, Purchasing, ePurchasing Visa Card Terms and Conditions will remain the same. All other features, interest rates, and fees will also remain the same.
Terms and conditions may be obtained from any BNZ branch or on our website. If you need more information, please call us on 0800 275 269.
Changes to BNZ credit card terms and conditions
Effective from 28 August 2024
Loyalty NZ has announced that Flybuys will be closing at the end of the year. As a result, we’re making changes to our BNZ credit card terms and conditions to reflect the withdrawal of the Flybuys Rewards Programme, and that the BNZ Rewards Programme is the only rewards programme available. We’re also removing references to automatic monthly cash back redemption and voucher copy fee.
The changes we’re making include:
- deleting “Flybuys Membership terms and conditions”, “Flybuys Points Reward Programme”, “Programme Provider”, “Rewards Points”, and amending “Reward Earner” from clause 1 (Definitions)
- adding a new defined term “Advantage Credit Card Account” to clarify that the BNZ Points are earned on eligible purchases made on an Advantage credit card account
- adding a new defined term “Cashback Redemption Account” which means a BNZ account we allow you to receive cash back to (until further notice, only Advantage Credit Card Accounts are Cashback Redemption Accounts)
- updating clause 7 (Card Switches) to refer to one rewards programme and removing clauses explaining what happens when a customer switches rewards programmes
- removing reference to “Voucher copy fees” at clause 8.10 as we no longer charge this fee
- amending clauses 19.16(a) to (c) (now clauses 18.24(a) to (c)) to clarify that additional conditions relating to redeeming BNZ Points for cash back are available on our website or the BNZ Rewards Portal, cash back may be made to a Cashback Redemption Account you nominate, and will be subject to the terms and conditions applicable to that account
- deleting clause 19.16(d) which customers could choose to automatically redeem cash back monthly
- amending clauses 18 and 19 throughout to remove all references to Flybuys Rewards Programme or two rewards programmes
- merging clauses 18 and 19 into one clause
- deleting clause 20 relating to the terms and conditions for the collection of Flybuys Points
- making clarifying or formatting changes.
View our current BNZ credit card terms and conditions (PDF 251KB).
View our updated BNZ credit card terms and conditions (PDF 298KB), effective from 28 August 2024.
For more information, visit any BNZ branch, or call us on 0800 275 269.
Changes to business fee guide
Effective from 15 July 2024
We’re making changes to our Business and Agribusiness account and service fees guide.
The changes include:
- clarifying the account name for Current Accounts with Market Connect overdrafts – on page 2
- changing Business First Control Visa credit card facility name to Purchasing card* – on page 5
- adding the International Trade Finance fees schedule, previously a separate document – on pages 9 and 10
- correcting minor typographical errors, and making other clarifying or formatting changes.
*From the effective date, when a Business First Control Visa card expires or is replaced, the design of the plastic card will change to the Purchasing card design. All other features will remain the same.
View our current Business and Agribusiness account and service fees guide (PDF 146KB).
View our updated Business and Agribusiness account and service fees guide (PDF 143KB), effective from 15 July 2024.
For more information, visit any BNZ branch or call us on 0800 275 269.