better banking

Case - 48869

2016 - 2017



Mr V approached his bank to open a KiwiSaver account for his young daughter. The bank told him he needed to include his daughter’s IRD number and birth certificate with the application, as well as his own ID.

Mr V completed the form, provided the IRD number and his ID, but gave his daughter’s passport instead. The bank couldn’t set up the KiwiSaver account because his daughter’s birth certificate was required to verify he was her parent.

Mr V thought the account had been set up but a couple of years later discovered it wasn’t. By this time, the Government had stopped the $1,000 kick-start. Mr V asked the bank to compensate his daughter for missing out on this. It declined and said the requirement of the birth certificate was made clear to him. It had unsuccessfully tried to follow this up with him when it received the application.

We understood why Mr V thought a passport was a suitable alternative though the application form specified inclusion of a birth certificate for a minor. The bank’s records showed it had tried to contact Mr V after he put in the application but not the reason why. We thought it possible the bank mightn’t have made it sufficiently clear to Mr V that the KiwiSaver account hadn’t been set up.  Because of this, the bank offered Mr V $500 compensation. Mr V accepted the offer to resolve his complaint and acknowledged he hadn’t been particularly diligent in following up either.