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Banking
Current Accounts
There is a good selection of providers of everyday banking accounts, fees can be minimised by choosing a provider that does not charge a monthly fee or transaction fees.
Current Accounts
| Provider |
Name |
Monthly Fee |
Min Deposit |
EFTPOS Fee |
ATM Fee |
Other Fees |
Additional Info |
| ANZ |
Everyday |
$5.00 |
$0 |
$0 |
$0 |
$0 |
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| ASB |
Streamline |
$3.00 |
$0 |
$0 |
$0 |
$3.00 manual transaction fee |
Monthly fee dropped if you sign up for paperless statements |
| BNZ |
My Money |
$5.00 |
$0 |
$0 |
$0 |
$0 |
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| Bank Direct |
Transaction |
$3.00 |
$0 |
$0 |
$0 |
$3.00 manual transaction fee |
Monthly fee dropped if you sign up for paperless statements |
| CBS Canterbury |
Everyday |
$2.50 |
$0 |
$0.30 |
$0.75 |
$0.30 manual transaction fee |
Monthly fee dropped if you sign up for paperless statements |
| HSBC |
Savings Cheque |
$0 |
$10,000.00 |
$0 |
$0 |
$0 |
Interest paid on account balance. |
| Kiwibank |
Now $5 monthly plan |
$5.00 |
$0 |
$0 |
$0 |
$0 |
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| Kiwibank |
Now PAYG |
$5.00 |
$0 |
$0.50 |
$0.30 |
$0.30 manual transaction fee |
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| Kiwibank |
Free UP |
$0 |
$0 |
$0 |
$0 |
$0 |
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| National |
Freedom |
$5.00 |
$0 |
$0 |
$0 |
$0 |
$5.00 fee refunded if min $2,500 deposited each month. |
| Nelson BS |
Cheque |
$15.00 |
$0 |
$0.50 |
$1.50 |
$0.30 manual transaction fee |
$15.00 fee refunded if balance remains above $500 for the month. |
| PSIS |
Current |
$15.00 |
$0 |
$0.30 |
$0.75 |
$0.50 manual transaction fee |
Transaction fees waived if balance remains above $1,500 for the month. |
| TSB Bank |
Cheque |
$0 |
$0 |
$0 |
$0 |
$0 |
To open an account tyou must either have Premier Cheque account or be a resident of Taranaki |
| WestPac |
Access |
$0 |
$0 |
$0.40 |
$0.40 |
$0.55 Manual handling fees |
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| WestPac |
Electronic |
$3.50 |
$0 |
$0 |
$0 |
$3.00 Manual handling fees |
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Current Accounts
Example: Potential Savings of $130 a year
Certain bank accounts will waive monthly fees if you put in a certain amount each month
or keep your balance above a certain level, or sign up to paperless statements.
So this example is assuming that for each of these account the criteria for dropping monthly fees is met.
Obviously if this was not the case the savings could be significantly higher.
Example 1 ATM and 2 EFTPOS a week
Both Kiwibank and TSB offer no strings accounts with no monthly fee, ATM or EFTPOS charges so would cost $0 per year.
In the case of Nelson BS ATM charges would be $78 and EFTPOS charges of $52 a year or $130 per year. And if the customer failed
to keep his account above $500 for the month you could add on an additional $15 a month fees to this account.
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