Bank of New Zealand Launches Simplified Account

12 October 2006

Bank of New Zealand Launches Simplified Account

Bank of New Zealand introduces “all you can eat banking” with the launch this week of MyMoney, a simplified transaction account with a $5 monthly account fee.

Designed for personal customers, MyMoney is simple, easy to understand banking, says Shona Bishop, Bank of New Zealand general manager marketing.

“The flat monthly account fee gives customers unlimited transactions, and is perfect for people who like the certainty of knowing exactly what their monthly account fee will be.

“We call it ‘all you can eat banking’. MyMoney is a simple account. Customers can have as many transactions as they like and the freedom to operate their account the way they choose, and the monthly account fee will remain at just $5. Although service and facility fees will still apply, many of our customers bank smarter and operate their accounts so they don’t incur these.”

Bank of New Zealand already has a number accounts where customers incur low or no fees. The introduction of MyMoney will give the all of the Bank’s personal customers the opportunity to manage their account fees more cost effectively, while transacting as often as they like, says Bishop.

“We recognise that customers want more control of their funds, and our new account provides just that. More banking for less dollars, that’s what our brand promises - banking smarter.

“Our latest account innovation is another way our customers can be better off with Bank of New Zealand. We are committed to providing innovative banking services that exceed the needs of the market. MyMoney brings real savings to customers, and we are very excited to be bringing this product to market.”

ENDS

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