you money is a great product i was wondering of you would consider wipeing the $5. account fee if customers deposit over $2500 in a month into there you money account from customers pay etc but not transfering from there rapid save account . a great wasy to reward customers who dont have credit cards etc love your thoughts
Thanks for your feedback, we regularly review our accounts and fees and are looking at several ideas. I have passed on your comment to our product team, but obviously, I can’t make any guarantees.
FYI - with a Personal OnCall account, you can gain interest on your deposits, and still be able to access your money online.
See details here - https://www.bnz.co.nz/personal-banking/everyday-banking/personal-oncall
Perhaps BNZ could review its policy on credit scoring, given that points are lost against a customer’s report when they open new accounts.
Your suggestion about wiping account fees based on deposits is common with Australian banks. NAB (National Bank of Australia who own BNZ), where I have an account, is literally fee free for personal accounts, with no minimum deposit requirement. Even the Visa Debit card is free. (1)
On the flipside I also have a business account with BNZ which only costs $5 per month, which is cheaper then what a business account would cost at NAB or any of the Australian banks. So all in all, I am am quite happy with the $10 combined charge per month. I could get a “free” account at Kiwibank but I am quite happy to pay the $60 per year to have free counter transactions, shorter/no queues and not be pushed the marketing message that patriotism is the main reason to be a client all the while being charged among the highest fees.