Bnz Merchant Agreement

If you exceed the limit of your contract, you must immediately repay the amount that exceeds the limit of the agreement, and we will charge you interest on any amount that exceeds the limit of the agreement at the excess CashFlow Plus rate. The CashFlow Plus deductible is the cashFlow Plus base rate plus 8.00% per annum, unless we recommend otherwise. As of February 26, 2021, we will no longer offer the paper credit card processing feature currently used by merchants to accept manually processed credit card payments. * You will pay interest at the applicable CashFlow Plus base rate plus a margin calculated daily on the outstanding amount up to the limit of your contract, as set out in your CashFlow Plus facility agreement. If you are a BNZ Life Insurance Limited (BNZ Life) policyholder, we want to make sure you know that BNZ Life`s owner, National Australia Bank Limited (NAB), has signed an agreement to sell BNZ Life to Partners Life Limited (Partners Life). The sale is subject to regulatory and other approvals, including approval from the Reserve Bank of New Zealand (RBNZ). We have sent a letter to all BNZ Life policyholders explaining the proposed change. If you have not received it, please call the BNZ Life team on 0800 808 648 to update your details and return your letter. They are available from Monday to Friday from 8am.m to 6pm.m. On December 11, 2020, a letter was sent to the affected traders. All other e-commerce and merchant services or facilities that we currently offer will not be affected by this change and all other terms of the Merchant Agreement* will remain the same.

Merchants cannot order credit card vouchers, deposit books, merchant mail order transaction plans, and other items required to process these types of transactions. All current dealer inventory must be disposed of safely. Printers (or Zip Zap machines) must also be disposed of safely. Depending on the date of your loan agreement, you may need to read more than one version of the following terms and conditions. If you have a letter of notice, please read your Credit Facility Framework Agreement. . As of June 30, 2021, we will no longer offer new on-call personal accounts. Please note that the branding, company names, and legislative and regulatory references contained in these documents were relevant for the period in which they were published, but have not been updated in all versions over time. • Inclusion of accidental death and disability benefits.

• Inclusion of the deductible for domestic rental vehicles. • Include COVID-19 cancellation insurance if you are diagnosed with COVID-19 prior to your trip. • Include COVID-19 health insurance abroad in case you are diagnosed with COVID-19 during your trip. • Updated exclusions for epidemics and pandemics (including COVID-19). • Non-travel benefits, such as purchase protection, extended warranty and price protection, are no longer available. Your insurance document will tell you which start dates of your coverage apply so you know what conditions apply to your policy. Depending on when you started your coverage, you may need to read the terms and conditions and addenda to create the full terms and conditions for your coverage. If you have increased your coverage or added coverage options over time, you may need to read more than one version of the Terms and Conditions. All fees and references to the purchase and sale of foreign exchange funds will be removed from our fee guides as we no longer offer this service. We will no longer offer new term deposits with payment options at quarterly, six-month or annual interest rate. We will continue to offer new term deposits with monthly or maturity date interest rate frequency payment options.

This change applies to all new standard term deposits that open on or after January 20, 2022. Our insurance documents reflect the conditions that were current as of the dates below. New versions will be added over time as we make changes to the product that apply to new coverages released from that point on. For some customers, there are also addenda to download. The addenda explain where we improved the terms and conditions for existing customers when we made changes for new coverage. If you have a BNZ Life policy, we invite you to share your views on the proposed transfer of your policy to Partners Life. Please let us know your point of view via the online feedback form. The form is open until 14 June 2021. If you would like to provide a view but do not have access to the Internet, please give us a call. Feedback is collected and incorporated into the RBNZ approval process. To the fullest extent permitted by law, neither Bank of New Zealand nor any other person involved in this publication shall be liable for any loss or damage that may result, directly or indirectly, from the information contained in this publication or omitted (negligently or otherwise).

The updated guide on person, account, service and installation fees will be available from 1 June 2021. Check out the latest guide to personal, account, service and installation expenses PDF 92KB. We are amending our Internet Banking Terms and Conditions for Businesses to remove all references to “surrogate statements”, “checkbooks” and “on-call books”. Changes have been made to the following clauses: Our CashFlow Plus base rate increases as follows: We are making changes to our guide to business and farm accounts and service fees as part of the removal of domestic and foreign cheques. .