I would love to be able to make extra payments to my total money home loan direct through Internet banking. Currently I have to use secure email to do this but sometimes I would like to be able to just round off my accounts to my loan or make a small extra payment when I have extra money left over at the end of the week. Is this a feature that will be available any time soon?
Also would love to use this feature. It’s all about helping us be good with our money and paying our debts faster
Hi @greenschemes and @Choccy12,
You’ll be pleased to know we’re currently working on giving you a way to change your regular repayments and then we’ll start on allowing extra payments.
Thanks for the feedback,
Thanks Luke. Any idea on the time frame?
Hi @Choccy12, at this stage we’re looking to get something out in the next couple of months.
Hi @Choccy12 and @greenschemes, this is now available on most fixed home loans and some variable home loans (not TotalMoney yet). You can check it out in Internet Banking or read about it here:
Any questions, let us know,
This would be great and the next best option to a sweep account.
Do you have a updated time frame for Total Money account?.
Would it be practical to change to different account?.
Excellent to see BNZ being proactive in assisting clients to reduce debt
Hi Luke. Do you have a timeline for Total Money ? I was wondering why it wasn’t there for me following your recent update. Nothing in the original post on 23 Sept gave any indication it was for a limited range of account types.
Lucas this is great news as we are only 2 to3 years from retirement and need to be mortgage
free before that time.
I will spread the word.
Luke sorry about misspelt name.Carried away with the good news,not to mention the age
Hey Luke this isn’t quite what I was asking about but it is a great feature and I’ve already made use of it a few times. What I want to be able to do is make small transfers to my variable home loan. So say I planned on buying a coffee but I don’t. I’d like to transfer that money to my mortgage in the same way I’d transfer it to a savings account. Can this be done?
Hi @Choccy12, you can’t do this at the moment via Internet Banking but it is something we’re keen to do and is on our list of upcoming features. I’ll let you know when you get closer to starting it.
Hey Luke, a year has passed. Any closer to this?
Yes we’re a lot closer to starting this. It’s now at the front of our upcoming features and we’re about to begin our analysis.
Thanks for following up,
Thanks Luke. Any indication of a time frame?
My best guess at this stage would be 3-6 months. Once we dive further into the analysis we’ll get a better understanding of what’s involved and where the tricky bits are. If you like I can send some you draft screenshots of our designs once we’re a bit further along?