Banking News

Are coins a thing of the past?

In Australia there has been "virtually no demand" for coins in 2020.

Small businesses call on banks to reduce paywave fees permanently

It's estimated total electronic payments will cost retailers over $2.9 billion in the 10 years from 2015-2024.

ASB Bank closing nine branches as dozens more move to three days a week

Dozens of other stores will move to three days a week.

Low-interest rates tempt homeowners to break fixed mortgages

But is the saving worth it in the short term?

ICBC to provide banking services in New Zealand

The bank will operate under ICBC and ICBC (New Zealand) Limited.

Westpac admits money-laundering breaches

'I'd go for anything': Govt yet to decide on shovel-ready projects as workers desperate to fill jobs

The Government's call for a wish list of shovel-ready projects is still just that.

Westpac banking services down following widespread network outage

Some credit card services are working again.

'Strict criteria' stops banks from helping businesses under government-backed scheme

The Business Finance Guarantee Scheme allows banks to loan up to $500,000 to businesses impacted by COVID-19.

Thousands of Kiwis stop loan repayments as the financial impact of COVID-19 hits

"Times are hard for everyone at this point."

Banks aren't handing out loans fast enough to save businesses, experts warn

The Government needs to guarantee 100 percent of the debt, they say.

'Wolf in sheep clothing': Bank asking business owners to put homes on line for loans

"The lending criteria is the same, if not worse, than what it was before COVID."

Poverty groups appeal for end of disconnections, debt collection during pandemic

"This is a time when we all need to support each other."

Coronavirus: Customers urged to bank remotely during lockdown period

Online banking, contact centres and ATMs will still be available.

Calls for paywave business fees to be dropped: Are banks listening?

It could encourage businesses to allow the contactless function.

Coronavirus: BNZ becomes first major New Zealand bank to predict a recession

It comes as the economy struggles with the COVID-19 outbreak.

Coronavirus: What the Govt has in store to protect the economy

Experts say it's only a matter of time before coronavirus gets loose.

ANZ wants $80m Ponzi case thrown out of court

Investors accuse the bank of negligence for allowing it to happen.

ANZ to pay customers $29m after loan payment calculator error

About 86,000 accounts will receive the extra payment.

Failed Ponzi scheme investors demanding $80m from ANZ

"ANZ Bank chose to take no action - allowing the Ponzi scheme to grow and flourish".

The Reserve Bank estimates cyber attacks could have significant financial impact on economy

RBNZ says that cyber attacks are likely to affect profit within the banking and insurance sectors.

Initiative for struggling farmers launches

It will help fund practical financial advice for those under pressure.

Explained: What's behind the drop in dairy farm sales

Numbers are down 40 percent.

Report proposes limiting access to mortgages for high earners

"As long as the supply of mortgage debt outpaces the supply of homes, prices will continue to increase."

Westpac to pay $3.7m to customers over credit cards

Refund settlement has been reached after Westpac failed to disclose terms of credit to customers.

New scheme to help farmers in financial stress moves forward

"It will ensure a fair mediation process takes place."

Westpac forcing 250 Wellington workers to relocate or take redundancy

It says 12 months' notice will allow employees time to consider their options.

Man shocked when insurer asks for blood test results

"This just feels a little bit naive, slightly discriminatory and heavy-handed."

ANZ Bank appoints Antonia Watson as first female CEO

Sir John Key has described Watson as "the outstanding applicant for the role".

How the banking rule changes could hit the economy

An economist is warning they could hamper the economy in the short-term.