Kiwibank launches new VISA debit card

By tonyhughes Hughes, in , posted: 18-Mar-2009 16:06

Different to the prepaid "Loaded" card, this is a real VISA debit card, just like the Westpac one, where its linked directly to your cheque and/or savings account, and does not require topping up (other than having some money in your regular bank account).

Application for an existing internet banking user was quick and painless through the internet banking site, and took a total of about 50 seconds.

6 card designs are available - but I would have liked to see something much more "corporate" and "important" looking than the "Flare" design below that was the best looking of the lot.

Rates & fees all seem pretty reasonable too! I have not compared to other cards though.

Your own name on the card (almost any combination of your names and/or initials - great for me because I dont go by first name).

And card should be in the mailbox in 3 - 5 days.

Too simple. Well done Kiwibank. A++ on easy access to a new product. Most companies dont go out of their way to make things so easy!

I never saw an advance announcement of this coming though... I wonder how many people jumped to Westpac just for this, that would have waiting if they knew it was coming?

Other related posts:
Kiwibank to offer personal finance via GE Money
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Comment by johnr, on 18-Mar-2009 17:08

Awecome closing my Kiwibank Mastercard and getting one of these!

Comment by grim, on 18-Mar-2009 17:13

I too am interested - or rather I was until I saw the rates. $6 per transaction at an overseas ATM and then 2% of TOTAL after currency conversion... whoa. So. I withdraw lets say NZ$100.00 in Australia. They will charge $6 just for the privilege followed by a further $2 in currency conversion fees. That seems pretty hefty to me...

Comment by grant_k, on 18-Mar-2009 17:36

@grim:  Yes I agree that the fees for use of this card overseas are too high.  I have found that with KB's standard VISA/MasterCard offerings as well.  For that reason, we have kept our VISA cards with ASB although most of our other banking is with Kiwibank.

I guess it's a case of "Horses for Courses" and for a lot of people who primarily use their cards locally, the added fees would seldom matter.

Comment by cokemaster, on 18-Mar-2009 17:36

I ordered one on Tuesday and it arrived today. Very prompt service, compared to the week or so that I've been waiting for my replacement westpac credit card.

Comment by sbiddle, on 18-Mar-2009 18:54

Those international fees are the norm with every bank and have been unchanged for years.

In all my travels overseas dating back to the early 90's I've always used an ATM card for cash and used to pay NZ$5 per transaction way back then.

I still really do wonder who gets the split from the $6 - surely the costs are nowhere near that..

Comment by knoydart, on 18-Mar-2009 19:08

Spent the last year asking kiwibank for a debit card - oh we are linked with Mastercard so was the response a number of times. Having spent years using a Visa debit card in the UK, they are very useful indeed, The only thing is I dont think you get payment protection as you would with a credit card but happy to be corrected.

Comment by grant_k, on 18-Mar-2009 20:10

@SBiddle:  ASB still only charges $5 as it says on this web page:

But you are right about the Overseas Service Margin with Credit Cards.  ASB charges 2.1% so it's almost identical.

I was thinking of EFTPOS cards which only cost 1.1% Overseas Service Margin with ASB.  For that reason, and the fact that you pay immediate Interest on Cash Advances from a Credit Card, I always withdraw cash overseas using my EFTPOS card.

Comment by boby55, on 18-Mar-2009 20:42


I think Im due for a bank change

Comment by RedJungle, on 18-Mar-2009 21:23

Not available to business banking customers >:(

Comment by grim, on 19-Mar-2009 14:30

Hmm, having looked around - you guys are right - the charges seem to be much of a muchness around the NZ banks. Still annoys the hell outta me though - it's gotta be a case of 'charging what the market will bear' as opposed to 'reasonable cost + small margin'. So because Bank A charges x%, Bank B decides to charge a little under x% rather than cost their model based on the actual cost of the transaction. So when withdrawing cash overseas we get :- Fee per transaction 6$ +Currency conversion at (usually inflated rate) +Currency conversion charge percentage at 2% of total +Any fees imposed by the overseas bank for using their ATM It's nuts IMHO that banks can get away with pricing like that just so I can access MY money! I have to wonder whether it's all there just to a) profit banks and b) keep the travellers check business going.

Comment by andrewcnz, on 23-Mar-2009 21:32

All good got my new card coming! 

Comment by ZoZo, on 26-Mar-2009 13:27

I ordered a pretty pink and green card, just for something different (and because I'm a girly girl). They said to allow up to 10 business days for the card to arrive. It arrived in 2! :D As for the high overseas transaction fees - doesn't really bother me as I dare say I won't be travelling for a LONG while yet with my children being so young. I just like the convenience. Go Kiwibank! Yea!

Comment by JJ, on 2-Apr-2009 16:48

...and now ASB have launched theirs too. Good to finally have a few options other than the Prezzy Card!

Comment by Manoj, on 9-Apr-2009 00:22

I still think kiwibank is the best bank in NZ in terms of fees. This bank developed a lot compared to major banks given that this ban only started in 2002. WELL DONE KIWIBANK. YOU ROCK!!

Comment by Manoj, on 9-Apr-2009 00:24

I still think kiwibank is the best bank in NZ in terms of fees. This bank developed a lot compared to major banks given that this ban only started in 2002. WELL DONE KIWIBANK. YOU ROCK!!

Comment by Andria, on 14-Apr-2009 15:14

I ordered my Kiwibank Visa Debit a couple of weeks ago, worked GREAT as an eftpos card until I tried to use the Visa facilities online. Then the troubles started: Tried to use through - wouldn't accept the card number. Called them to process manually, went through fine, no worries. I assumed it was just an issue with the new card numbers. Tried to use through Air New Zealand website - wouldn't accept the card number again. Called them to process manually, was going to be charged a $15 fee to do so. Told them to cancel the transaction. Tried to use with Qantas - accepted the card number fine, but found out Air New Zealand was still holding the funds. Got that sorted after two days on the phone with Kiwibank and Air NZ, but Qantas were not able to put the transaction through manually. Had to do it through another credit card. Tried to use with Pizza Hut - accepted card number, transaction wouldn't go through, called to process manually, transaction still wouldn't go through, had to use another credit card. Called Kiwibank, was told that not all stores accept the Visa Debit Card. Was told that Pizza Hut and the Pak n Save Fuel places were among them. Called Kiwibank each time and got the response "there's nothing wrong with the card, it's all set up fine, there's nothing we can do to help". I'm switching back to an ANZ credit card. Yes, it has higher fees and interest, but at least it WORKS.

Comment by kiwiscoota, on 17-Apr-2009 17:27

I use a Westpac Mastercard Debit Card (issued in Australia) and find it works well for me in NZ or Oz,   the only problem I've had is with Apple iTunes rejecting my card as the card number did not match the country that I wanted delivery in (BTW the normal Apple Store NZ accepts my Aussie Debit Card for delivery of goods in NZ).

Other than the "issue" with iTunes Store,  and the slightly confusing need when in NZ I have to select "Credit Card" when using an ATM,  and yet for EFTPOS I have to select "Cheque" accounts, I'm more than happy.

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