December 2024
Changes to the Credit Reporting Privacy Code 2004 come into force throughout 2019, to keep the system fair. A credit report contains inform…
July 2021
A bank typically takes debt recovery action because a customer owes it money and is not making repayments. When customers complain to us abo…
February 2022
When you sell a property with a mortgage, you can usually keep whatever money is left after repaying the bank loan (unless, of course, you t…
Loan-to-value-ratio restrictions on banks' home loan lending are a Reserve Bank measure to slow rising house prices. For banks, it means no …
An overdraft gives a customer access to more money than is actually in his or her account. An overdraft facility can be arranged or unarrang…
Home loans are commonly referred to as mortgages, but a mortgage is actually a charge over a property. When a bank lends money, it requires …
Banks will sometimes lend a customer money only if someone else provides a guarantee. If you agree to be a guarantor for a borrower, the ban…
September 2024
Customers who borrow money at a fixed interest rate for a fixed term enjoy the benefit of knowing exactly what their repayments will be over…
March 2024
Transfer processYou must apply for a credit card account at the new bank if you don't have one there already. You will be assessed against t…