Banking with BNZ - from Overseas!

I’m still lurking about here team, not had much of a chance to post recently as I settle in the UK! 

Firstly, shout out to BNZ for the quality of their internet banking options, and to banks in general in New Zealand for their range of consumer products; you’re lightyears ahead of the UK, where I can have one cheque account and one savings account (at 0.5%pa interest!). None of the major consumer banks here have any decent offerings in terms of subaccounts or high interest savings, and the internet banking is pretty rudimentary.

But, I am still using my BNZ YouMoney account, and will be sending money back. I have a problem just at the moment, to with a cheque, so I was hoping someone from BNZ could provide some advice.

I had a stopover in Singapore on my way to the UK, and booked a tour which was eventually cancelled and refunded. They have posted the cheque to my address in New Zealand; the cheque is actually made out to BNZ, with ‘Pay to the ORder of’ given as my name (rather confusing!). THe amount is in Singaporean dollars.

My step mum attempted to take it into the Havelock North branch and deposit into my account (not her own!), but the branch informed it her was not possible, without her being a signatory on my account. They provided her the forms to be made a signatory, which I am happy to do, but that will require a lot of time, effort, and postage.

Is there some way to get this cheque into my account with posting forms halfway across the world?

Thanks team!

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Hi @RC! Great to hear from you again, I hope the UK is treating you well :slight_smile:
Bit of a conundrum - I’ll look into it for you but in the meantime could you send through a private message with your access number and how much the cheque is worth?

Thanks @Yvonne, yes it’s a bit of a pickle! Will send through a message now. Now if only you could ship your dev team ver here to shape up online banking for me!

Hey @RC, have gotten this sorted for you.

The signatory business would be necessary in the event the cheque was for a large amount of money - this is because BNZ honors the cheque and pays it out within 3 working days, but it can take up to 6 months for the process to be completed (bit of a palava that involves the cheque going back to Singapore, and there’s a risk that it may not be honored at their end or similar) so it’s a bit like lending in that respect, and that’s why we need a ‘Terms and Conditions’ signed.

The good news for you is that the amount your cheque is worth is below the threshold and so your family member CAN deposit it without being a signatory. Have spoken to the team in Havelock North to refresh their understanding and let them know to expect someone in with your cheque.