BNZ supports over 70s with dedicated phone team

Bank of New Zealand (BNZ) announced today it is supporting customers over the age of 70 with a dedicated phone support team offering shorter wait times and specialised service.

BNZ Chief Customer Officer, Paul Carter, says, “This is another way we’re doing what we can to reduce stress and uncertainty for our customers during these challenging times. We hope this new service for the 70-plus group gives them extra confidence to give us a call so we can help them do their banking in different ways.

“The response has already been fantastic. A highlight for the team yesterday was getting a 96-year-old set up to do online banking. They are in a retirement village and are carefully managing their self-isolation, so we were delighted to help get them connected. They were amazed how much you can do online and how easy it was.

“Customers don’t need to do anything differently, just call our normal 0800 number and our technology recognises their number, automatically matches it to their account, and if they are over 70 years old, their call will be directed to the dedicated team,” says Carter.

BNZ’s general enquiry line is 0800 275 269.

Other support measures available to BNZ customers include:

For business customers:

• Waiving all contactless debit transaction fees for SMEs for three months from 20 March 2020
• BNZ bankers can provide immediate access to funds to help with short-term cashflow needs.
• Extensions of Trade Credit
• Overdraft rates reduced by 1%
• Online, 24/7 capability to apply for business lending up to $100K without additional security.
• Apply online for up to $100,000 of lending
• Principal repayment holidays
• Extension of term lending periods
• Short term loans
• Hardship loans
• Business credit card options
• ‘Interest Only’ options on a case-by-case basis
• PayClip monthly fees waived for April

For personal customers:

• Full pass through of 75bps OCR cut to floating home loan rates
• Cuts to fixed home loan rates:
  • 3.09% p.a. fixed for 1 year (-40bps)
  • 3.05% p.a. fixed for 18 months (-34bps)
  • 3.35% p.a. fixed for 2 years (-20bps)
• To support savers, a new 18-month special term deposit rate of 2.65% p.a. (up 25bps).
• Hardship support available, including interest only and deferment for home loan repayments