BNZ disgraceful action

Just received a letter telling me no more cheques. Letter contains the usual PR spin e.g. “faster, simpler, and more secure” all misleading or incorrect (read lies).

Surely time for the government to man up and open an enquiry into this.

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Hi billydex, I’m sorry that we can no longer continue to offer the service of cheques.
We had an overwhelming number of positive feedbacks from our customers during COVID who experienced going digital for the first time, and we are always looking for ways to improve our processes.
We understand that change can be daunting and frustrating, so our teams are always here to help to walk you through any issues you may experience.

Kris you completely miss the point. In a mere 12 months you’ve gone from a bank that I used to highly recommend, to one that I very definitely DO NOT recommend. Killing off cheques doesn’t affect me because I’ve used telephone banking, internet banking, and mobile banking for many years. However, I know many elderly people for whom your new systems are more than daunting, they are completely impractical. Unless you want an exodus of people who don’t have phones or computers you need to rethink your PR rhetoric and start listening to ALL of your customers, not just those for whom mobile internet is second-nature. So what are my elderly neighbours to do when they have NO internet, NO mobile phone, and NO desire to invest in that technology. It’s not just an issue of learning new things, but primarily an issue of access and equity that you seem to be entirely missing.

Hi there, thank you for letting us know about your concerns. The unfortunate aspect of this is that cheques are not being accepted by many business’ and many of the banks have already removed them as a facility. This has meant that we have had to look at other ways for our customers to be able to do their banking. We are aware that this is a big change for many of our clients, which is why we have staggered this change over the last few months and next few months to give everyone time to be able to look into and become familiar with. As to the charges, international transfers are subject to fees due to their complexity and the admin work that needs to be done in order to send and receive these. I will pass on your feed back to the team so they can look into this to see if there is some other option. As you are right for a kid that would be harsh. Thanks for posting, and have a happy and safe New Years. ^Char

There are many thousands of Not for Profit Societies which as per standard good governance and audit control require 2 signatories for cheques.
Such societies regularly make cash disbursements. At present there seems to be no thought as to how such Cash disbursements can be made. Branch closures make ATM use more critical but there appears to have been no planning for a Special ATM card to meet the governance of 2 signatories. The only way around this seems to be the Society paying the necessary funds to a personal holder’s bank account and then that person withdraws the cash- what an horrendous breach of International standards of audit control.
What has BNZ planned to overcome this problem? What publicity to societies has BNZ given re Electronic tokens for internet banking for each signatory of the Society? . FYI I have been for decades a user of electronic banking -Pc Phone and ATMs. There still is no facility to enter a reference on Smart ATMs for withdrawals -despite such facility available for deposits. I raised this issue 2 years ago -promises to address but no action. There seems to be a disconnect between a “lofty idea” and practical considerations

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Neil, this may help. My understanding is, not-for-profit entities can use Internet Banking for Business, which has two to sign facilities. There is a help desk specifically for it. Internet banking for business - BNZ

Yes, I used this service for a couple of non-profit incorporated societies via Westpac for some years, as at that time BNZ’s rules did not provide this co-signing feature for anything other than businesses. I don’t know whether this unfortunate rule has been changed to come into the 21st Century or whether people are forced to move banks to be allowed to use this facility.