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meesham
972 posts

Ultimate Geek


  #331137 17-May-2010 23:38
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I've got one of the ASB visa debit cards, it's reasonably useful but I find some EFTPOS machines still don't support the chip cards properly, and all the Christchurch parking meters don't like them either.

Going a bit off topic but I've been having lots of fun with banks recently... I'm self employed and needed to get a mortgage. My current bank (ASB) said that because I'd only been self employed for 18 months there wasn't a good chance, even though I had a 20% deposit. I then went to Westpac, I told them about my business and they said not a problem - come back with your financial statements and we'll pre-approve you. I decided to wait until the end of the financial year as the statements would be getting done then anyway. In early April I came across a house that was too good to pass up, so I got a finance condition added into the purchase agreement with a 3 week deadline and had my accountant rush getting my accounts done. I then went to Westpac to get the finance sorted, got approved but then the loans person said to me "but because all of your customers are offshore we'll need a 25% deposit instead of 20%, that won't be a problem will it?" Yes it will be a problem, 5% doesn't sound like much but when you convert it to dollars it's a substantial amount. I told her in no uncertain terms that I wouldn't be putting down a 25% deposit, she said OK and that she'd speak to her manager about it and that it wouldn't be a problem and that she'd call me first thing Monday morning. 12pm Monday I still hadn't heard from her so I rang and left a voicemail message, at 2pm I got a call saying "still no luck, but I'm going to speak to my manager and will call you in 20 minutes". 6pm that evening she finally called back, "still no luck but I should be able to sort it tomorrow", at this time I told her exactly what I thought of her and her bank. The next day I went to the National Bank, they approved me with a 20% deposit within 24 hours, no hassle, no fuss and the house settles on Friday.

bazzer
3316 posts

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  #331144 17-May-2010 23:48
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Lias: I didnt like my experience with kiwibank.. My credit card regularly goes over its limit during th emonth, but is generally under it come end of month billing time. ANZ charge me a fee if its over its limit at the end of the month.. Kiwibank charged me a fee every tiem I went over.. I owed them hundreds in fees in fairly short order.. Also trying to change to them was a PITA.. i wanted to clean sweep everything, personal loans, overdraft, Credit cards, savings account, etc all at once. They wouldnt give me an overdraft if i wasnt an existing customer, I'd have had to apply seperatly for the credit card, the personal loan, the overdraft etc etc.. Trialed the CC with them and as above, did not like.. went back to ANZ.

So, you go over your LIMIT and that's the bank's problem?

 
 
 
 


crazed
484 posts

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  #331162 18-May-2010 07:33
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Banks love it when you go over limit, it allows them to charge more fee's

As for $10 a year fee for Visa Debit, I actually think thats quite reasonable considering Visa and Mastercard annual fee's are alot more expensive.




CraZeD,
Your friendly Southern Geeky Fellow :P


manta
249 posts

Master Geek
Inactive user


  #331753 19-May-2010 09:18
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xpd: Visa Debit cards....  looks like ANZ have finally released their Visa Debit cards but have a monthly fee of $2-5 depending on the type of account you have with them.
KiwiBank have a annual $10 fee (first year free).

Does every bank charge for having a debit card ? Why the heck is ANZ so greedy ? :)


Just curious :)


From ANZ:

Thank you for your SecureMail.

Unfortunately ANZ are not doing a Visa Debit card, however we have
launched ANZ's first reloadable prepaid MasterCard. ANZ Recharge is
designed to give you the access of a credit card, without the risk of
going into debt, because you can only spend what you have loaded on your
card. It's the perfect solution for those of you who are either
ineligible for a credit card, or simply don't want one.

So, if you want to be able to order pizza or buy the latest concert
tickets online, ANZ Recharge provides the answer.

We have information available on our website:

www.anzrecharge.co.nz

Ezzie
51 posts

Master Geek

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  #331866 19-May-2010 14:15
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I like Kiwibanks products and visa debit card especially the free up account with no fees at all.
Kiwibank has its downfall when it comes to having to go into a branch to say, deposit money into your account (if for e.g. you have cheques or cash.)
Going into a branch is a nightmare for me. Have tried Porirua and Johnsonville branches and its a pain. Doesnt matter what time of the day you go - its always very very busy and there's no seperate queues for kiwibank customers. You have to queue with the postshop people. somtimes for 15-20mins to deposit some money or pay a bill with your account which you cant do online or something.

Yet its funny because the porirua kiwibank branch has been refurbished and has about...6 offices where you can apply for home loans and stuff...but no quick deposit boxes (like at other banks)..or separate teller to go to.
For that reason i'd avoid choosing kiwibank for everyday accounts, or if you do a lot of different style of transactions.

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