Actually, you're right based on latest rating. Both are sitting on A by Standard and Poor's.

In GZ, every time anyone mentions KiwiBank, the same set of people, apparently, go into rant mode.  I'm not entirely sure what they are trying to do, nor why -- convert the people like me who have never had any trouble with KB, and appreciate their service -- or save those who might be going to make an Awful Mistake and join KB.  What the hell, consumer research seems to show that KB is appreciated, more so than the Aussie Banks, but maybe less so than TSB (anyone going to rant about TSB?  Co-op bank? Not enough shops?).  They have never tried to sell me any extras, have always given me a premium on deposit interest rates over the advertised rates, and have never stopped my credit card while I was overseas (likely because I always told them beforehand where I would be, as anyone should).

These rants, they are what I hate about social media.  They are annoying and boring and waste just too many electrons.  Let's have no more of it.  Get back to the point of the original post.

Well, thanks for telling everyone what they are allowed to post. I bow to you, my overlord.

richms:

Card transactions taking forever to show is the one that most people I know with kiwibank have problems with.

The slowness in transactions showing is why we moved our main credit card from the Air NZ Mastercard with KB to a cashback card with BNZ - that, plus the Google Pay! I haven't regretted the move at all, as I find managing our finances so much easier with instant results.

Equally, the ability to only carry my phone on a walk when I also intend to pick up something for breakfast from the supermarket is a total relief. We've kept the rest of our banking with Kiwibank, and find them fine.

They're going through the same transition here in PN - some stores becoming KB-only, others reverting solely to NZP.

Although not everyone here is a fan of Kiwibank, I believe credit should be given where due. Recently I received my new debit card. Of course it came with Paywave, which I do not like or want. My objection is to the obligatory nature of it and the fact that it can't be turned off. So I wrote a letter to Kiwibank expressing my dissatisfaction with this state of affairs. 

Almost immediately I received a very nice reply back in which it was explained that Kiwibank is changing their system and by next year they expect that customers will be able to choose whether they want Paywave functionality or not. I find this very decent of them. Clearly they listen to their customers and respond to what they hear. I have always liked Kiwibank and this kind of thing is one reason why. They get a +1 from me.

I have used KB as my primary bank for the last several years including the Mortgage. Service has always been excellent and my Mortgage rates have always been at market leading rates. People are talking about the 3.9 rates now, I re-fixed my Mortgage in August at 3.99 and how's this, I had agreed to a slightly higher rate and they called a day later and proactively gave me the better rate. So they had a customer who was going to pay more but said, no actually on Monday I can give you better so lets do it then. I would likely visit a branch once every year or two at most, and service has been just fine on those rare occasions.

Rikkitic:

 

Although not everyone here is a fan of Kiwibank, I believe credit should be given where due. Recently I received my new debit card. Of course it came with Paywave, which I do not like or want. My objection is to the obligatory nature of it and the fact that it can't be turned off. So I wrote a letter to Kiwibank expressing my dissatisfaction with this state of affairs. 

 

Almost immediately I received a very nice reply back in which it was explained that Kiwibank is changing their system and by next year they expect that customers will be able to choose whether they want Paywave functionality or not. I find this very decent of them. Clearly they listen to their customers and respond to what they hear. I have always liked Kiwibank and this kind of thing is one reason why. They get a +1 from me.

 

I'm a KB customer who objected to Payware some years and was disappointed it could not be turned off. So this is news is great.

freitasm:

 

I saw this on Manners St, Wellington where the NZ Post + Kiwibank shop has recently changed into a full Kiwibank branch

 

This apparently happened before as earlier as October 2017 in Rotorua and December 2017 in New Plymouth. 

 

In Wellington CBD if you want a full NZ Post shop you have Lambton Quay, Featherston St. Other services are available in pharmacies, supermarkets.

 

Manners is also gone and Featherston is going soon. I think this is the point of this post for me, not whether KB is any good as a bank or not. I'm personally not looking forward to dealing with an agent in a dairy to post something. I don't understand whats driving the closing of Post services as every time I go there, no matter what time of day, there is a queue. I work next door to the Featherston Street branch and there are people queuing outside every morning to get in.

Lets see how the agencies handle the Christmas period.

The queue at my post shop when I am collecting parcels tends to be either people posting things for trademe purchases which could easily be done by courier, or old people with a bunch of letters buying stamps for various countries one at a time tying up a counter staff for up to 5 mins to end up with a tiny sale.

Or angry people paying bills for unrelated companies, or doing car rego.

geekiegeek:

 

Manners is also gone and Featherston is going soon. I think this is the point of this post for me, not whether KB is any good as a bank or not. I'm personally not looking forward to dealing with an agent in a dairy to post something. I don't understand whats driving the closing of Post services as every time I go there, no matter what time of day, there is a queue. I work next door to the Featherston Street branch and there are people queuing outside every morning to get in.

 

Lets see how the agencies handle the Christmas period.

 

My dairy is the local post shop, manage the PO boxes and seem to manage postage and courierpost pretty fine. Mind you nearly all their work is private (letters, trademe etc)

dejadeadnz: Actually, you're right based on latest rating. Both are sitting on A by Standard and Poor's.

I wouldn't put to much weight in a S&P rating. Any banks corporate lunch room food handling grading would carry more legal weight.  I'm honestly surprised S&P is still in business after the USA sub-prime scandal when a high rating could be purchased for a completely junk investment.

I think KB taking over NZ Post stores is a logical and smart move. They've got the same owners, postal business is rapidly shrinking and banking business is rapidly growing. You can call bricks & mortar old fashioned, but it is in demand, and while everyone else is in a race to the bottom service wise and it pays, why not?

It is similar to Z Energy's forecourt concierge - such an old fashion concept, but it draws in customers, so why not?

I wonder if the new banking rules have increase the need to face to face contact with customers. My current bank has just made me update my identity details and proof of residence/citizenship to meet new anti-money-laundering rules (apparently).