This was news to me, and I love it … so it’s well worth sharing.
Eftpos machines have buttons for CHQ, SAV, CR and often the PayWave ))) option, right? Well, with internet banking you can easily connect more of your accounts to your bnz cards, corresponding to those buttons. For instance, when using my Flexi Debit Visa card, if I tap CHQ on the machine the payment comes out of my everyday spending account, if I tap SAV it comes out of my joint account, and if I use PayWave it comes out of my drinks/entertainment account. With Credit Cards you can connect different accounts to CHQ, SAV and still have your actual Credit Card account hooked up to the CR & PayWave option.
Really helps me separate my budgets. Grabbing lunch, I press CHQ. Buying groceries or something for the house, I press SAV. When I fancy a cheeky beer or two, I wave the card vaguely at the machine and hopefully all is well.
You can add, swap and remove accounts instantly in internet banking (Menu > Cards).
The ‘Cards’ option will also be available on our iPhone app in November and Android soon after.