ANZ - Opinions?

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Forums › Finance and wealth management › ANZ - Opinions?

johno1234

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#306128 30-Jun-2023 09:46

I keep hearing bad things... but am considering sucking that up and moving to ANZ from Kiwibank because:

I don't normally interact with the bank and do everything online so customer service not normally an issue.

ANZ have the best AirNZ status earn (50% bonus) which would make it easier to retain Gold or Elite status

ANZ support ApplePay

ANZ have 1% for 3 years up to $80k "Green" loans - next car will be an EV so could just about buy two on this deal for next to no interest.

As to Kiwibank:

Their customer service, on the occasion I avail myself of it, has been exemplary. Have been with them for quite a w:hile, and I still have the same bank manager as when I joined, and he knows who I am. That said, he is very constrained by the Kiwibank rules these days.

No Apple Pay so I have to carry a card around with my phone. If they had AP I could ditch the phone and just wear a watch.

No Green loans

Changing banks is a bit of a pain... and I hear bad things all the time from ANZ customers about dealing with them. Am I mad to entertain the idea?

Could look at ASB... hear good things about them, they have Apple Pay and they have Green loans. No 50% up bonus on AirNZ status earn though.

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#3097549 30-Jun-2023 09:58

Have not had any issues with ANZ, been with them for years for most banking (since national bank) - Only complaint I have is that they seem happy to charge fees for anything and everything they can unless you kick up a fuss while making crazy profits... but that's pretty much all banks I guess.

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michaelmurfy

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#3097550 30-Jun-2023 09:59

The tech stack that ANZ has is far superior to Kiwibank.

Personally, ANZ is my main bank. It is personal preference with what bank you go with. A tip is to go speak to a personal banker at ANZ as they'll handle the whole process of the move and currently you're able to get 1% cashback for moving your home loans to them. They'll also by default beat any posted rate. Renewal of your home loans is simple where often the in app rate is far better than the public posted rate and beats other banks too.

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johno1234

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#3097552 30-Jun-2023 10:06

Thanks for the quick replies. Sounds like ANZ are OK if you know what you are doing.

We've got a small mortgage that is currently fully offset. Have sold our house - settlement is in a few weeks and not yet found the next one - so then taking a 6 month rental while we are looking. Once the house is settled and we have the cash it should make a bank move easier with no security to transfer and hopefully with a bit of cash on TD with them they will be accommodating. The 1% transfer bonus is therefore not going to happen. I'm self employed and that always makes it more difficult as have to show the banks more accounting stuff than if I was employed.

michaelmurfy

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#3097557 30-Jun-2023 10:23

Ah fair call. So banks can do a managed Bank Switch (link) which makes everything easy - only thing you may need to help out with is getting your pay going into your new account, direct debits, stuff coming from your credit card etc. I would recommend doing this option as it makes it easy for you. You just need to have a chat to an ANZ Staffer.

Silvrav

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#3097578 30-Jun-2023 10:35

I have just opened an account with ANZ as well as a secondary account...what erks me at the moment is I need to phone in to activate my online account - call waiting time of 30+mins so far!

xpd

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#3097579 30-Jun-2023 10:37

ANZ service has gone downhill since COVID (but so has everyones) and talking to them about any form of loans, they assess everything at "worst case" level. And if you want a loan short term, they'll say no as well, because they make nothing out of it.

They have just cancelled some airpoints scheme on their Visa cards, so check into their point schemes before signing anything.

For general day to day banking theyve been fine and their online system is pretty good.

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michaelmurfy

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#3097580 30-Jun-2023 10:37

@Silvrav Mornings are one of the busiest times for their call centre. I normally call up around 2pm and find it is quiet then normally getting through within 5mins.

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Silvrav

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#3097583 30-Jun-2023 10:39

michaelmurfy:

@Silvrav Mornings are one of the busiest times for their call centre. I normally call up around 2pm and find it is quiet then normally getting through within 5mins.

awesome, thanks, I have a 1045 meeting so if no answer by then I will try again this afternoon.

MikeAqua

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#3097623 30-Jun-2023 11:20

We're with ANZ. No issues with them. They resolve problems for us quickly. When I've asked for more credit (e.g. to buy the GTR) they've been able to sort it out on the phone ins less than 30 minutes. That said we are well-behaved and careful clients. We always make our payments, and we haven't stretched our debt-equity-income situation.

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wlgspotter

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#3097634 30-Jun-2023 11:43

Watching this topic with interest especially with regards to ANZ's credit card earn rate. We still have the standard AirPoints Visa card with them.

That said, our current main back is ASB, have been with them since Nov 2016. Prior to that we were with ANZ for 15+ years. The only reason for the switch to ASB was when we purchased out current home we had a mortgage broker work with us for the "best deal" and ASB came out tops at the time. We were apprehensive about switching to ASB as we found ANZ pretty good without much issues, their technology is pretty good too (Apps, Internet Banking, etc) so we were concerned about the move to ASB.

Our only (real) gripe about ANZ is that in the 15+ years that we were with them, we keep having change on Personal Banking Managers - I've lost count to the number of bank managers that we've had, and everytime there is a change we literally had to introduce ourselves and explain things all over again. We still have out accounds with them but our mortgage is now with ASB. Oh yes and the credit card - besides the AirPoints (standard) Visa we also had the Cashback Platinum, which was our main credit card - the Cashback card actually worked well for us until last year when we discovered that we no longer get travel insurance with the Castback Visa, hence the decision to switch to ASB TrueRewards.

As for ASB, so far so good. Just that they don't offer an AirPoints type credit card or Cashback (which we prefer actually), so have to make do with the TrueRewards Visa. In the time we have been with them we are now onyo thr 3rd Premium Banking Manager, but the transition have been handled really well and all the bank managers know who we are and have our history.

And Kiwibank - we also do have the AirPoints Visa Lite with them - that has come in handy to be able to use it to purchase AirPoints top ups (Mrs is Gold Elite and there are some special fares which you can only purchase using AirPoints, so the points top up using the Kiwibank Visa have come in handy.

Sorry I digress, but just wanna say overall we never really had issues in the time we were with ANZ.

xpd

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#3097637 30-Jun-2023 11:51

MikeAqua:

We're with ANZ. No issues with them. They resolve problems for us quickly. When I've asked for more credit (e.g. to buy the GTR) they've been able to sort it out on the phone ins less than 30 minutes. That said we are well-behaved and careful clients. We always make our payments, and we haven't stretched our debt-equity-income situation.

We're the same situation wise as such, but they won't talk to us regarding a new home loan (going elsewhere for that now). Their system says we live beyond our means, yet we have savings, never missed any payments, and go on family trips quite often without emptying out the account. They also say the equity in our house is minimal (we owe next to nothing on it, and house now worth 3x what we paid). Credit history for both of us is 900+.

So go figure..... :D

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Silvrav

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#3097647 30-Jun-2023 12:42

xpd:

MikeAqua:

We're with ANZ. No issues with them. They resolve problems for us quickly. When I've asked for more credit (e.g. to buy the GTR) they've been able to sort it out on the phone ins less than 30 minutes. That said we are well-behaved and careful clients. We always make our payments, and we haven't stretched our debt-equity-income situation.

We're the same situation wise as such, but they won't talk to us regarding a new home loan (going elsewhere for that now). Their system says we live beyond our means, yet we have savings, never missed any payments, and go on family trips quite often without emptying out the account. They also say the equity in our house is minimal (we owe next to nothing on it, and house now worth 3x what we paid). Credit history for both of us is 900+.

So go figure..... :D

see this often - they cant make money off you cause you understand the system and will most likely pay off faster then normal joe soap where they can make more interest.

johno1234

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#3097696 30-Jun-2023 12:58

xpd:

They have just cancelled some airpoints scheme on their Visa cards, so check into their point schemes before signing anything.

I think that was the lounge pass benefit - it's gone from all the AirPoints cards.

However rechecking on https://www.airnewzealand.co.nz/airpoints-direct-earn-credit-card-comparison-table

For ANZ it says 50% bonus on AirNZ flight earned status points, but doesn't actually state that it still earns status points from the credit card $ spend. I am sure it does but don't know the rate. Will need to check. Can anyone confirm?

Would also need to hang onto the never-used low fee KiwiBank Airpoints VISA too, as the ANZ card does not state it offers Airpoints Dollar topup - essential if you want to buy an award ticket and don't have the APD balance for it.

networkn

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#3097698 30-Jun-2023 13:03

Across many many years I've personally never had a good experience, and I have had multiple family members and friends have really grim experiences. It would be something I'd actively avoid unless I had no other viable choice. They have in the past been absolutely mercenary with their fees.

I do not, nor have I ever personally banked with them, but my wife and other members of my family have.

johno1234

2794 posts

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#3097702 30-Jun-2023 13:06

johno1234:

xpd:

They have just cancelled some airpoints scheme on their Visa cards, so check into their point schemes before signing anything.

I think that was the lounge pass benefit - it's gone from all the AirPoints cards.

However rechecking on https://www.airnewzealand.co.nz/airpoints-direct-earn-credit-card-comparison-table

For ANZ it says 50% bonus on AirNZ flight earned status points, but doesn't actually state that it still earns status points from the credit card $ spend. I am sure it does but don't know the rate. Will need to check. Can anyone confirm?

Would also need to hang onto the never-used low fee KiwiBank Airpoints VISA too, as the ANZ card does not state it offers Airpoints Dollar topup - essential if you want to buy an award ticket and don't have the APD balance for it.

They won't like us then as trying to not take out a mortgage that is not fully offset. Might be able to fool them by securing and taking out a large revolving credit loan but not drawing it down - perhaps on the basis of planned large renovation or some such.

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