General Banking Information

Effective 31 May 2017

Disclosure Statement  

TSB Bank Qualifying Financial Entity (QFE)

TSB Bank Limited ("TSB Bank") has been granted Qualifying Financial Entity (QFE) status on 2 April 2012. TSB Bank takes responsibility for the financial adviser services provided by its employees and maintains procedures to meet its obligations under the Financial Advisers Act. TSB Bank is permitted to provide financial adviser services on a range of products.

What is this Disclosure Statement for?

This Disclosure Statement lets you know:

  • what product and services we offer; and
  • what you can do if you have any concerns with our products or services.

Under the Financial Advisers Act there are two categories of products: Category 1 products (which are more complex) and Category 2 products (which are simpler).

Category 1 products

TSB Bank offers the Fisher Funds KiwiSaver Scheme (the Scheme) which is registered under the KiwiSaver Act 2006 and provided by Fisher Funds Management Limited (Fisher Funds). For the purposes of the Financial Advisers Act 2008, TSB Bank only provides class advice for the Scheme. Customers will also be provided with specific information relating to the Scheme including a Product Disclosure Statement and information about the exact service we can offer.

TSB Bank receives commission from Fisher Funds in respect of each customer it enrols in the Scheme. Customers do not pay any more fees by joining the Scheme through TSB Bank as our service to you is free.

TSB Bank does not guarantee the capital value of any contribution made to the Scheme or any investment return.

For more Information visit your nearest branch, https://www.tsbbank.co.nz/kiwisaver or phone 0800 872 226.

This Disclosure Statement is important and is intended to assist you in making an informed decision about who to use as your financial adviser.

Category 2 products

  • investment and deposit products (including certain portfolio investment entity (PIE) products);
  • transaction accounts and associated payment facilities;
  • insurance products such as general and life insurance products;
  • consumer credit products such as overdrafts, credit cards, personal loans and mortgages; and
  • other banking products, such as Foreign Currency, FX Travelex Cash.

What services do the QFE provide?

TSB Bank provides financial adviser services primarily in relation to TSB Bank financial products both in Category 1 and 2 products.

Who provides the services?

All financial adviser services in relation to Category 1 and 2 products are provided by selected TSB Bank staff (QFE advisers) acting on behalf of the bank.

Details of any material influence on the QFE or the QFE adviser, including any interest, incentives, remuneration, relationships or associations.

TSB Bank's QFE adviser's remuneration is made up of:

  • fixed pay (base salary and superannuation); and
  • bonus reward (performance-based remuneration).

Bonuses are discretionary payments given only when an employee exhibits exceptional performance or high achievement over and above their job requirements, and encourage the employee to meet expected quality and compliance standards.

Non-financial rewards, such as prizes, recognition events and promotions, also require staff to meet quality and compliance standards. The TSB Bank recognition schemes operate with a quality overlay of risk and compliance standards.

What to do if you have a problem or complaint?

Your satisfaction is our priority, if you have any concern or problem whatsoever, let us know, and we'll do our best to resolve it.

You can do this:

Complaints
TSB Bank Service Centre
PO Box 240, New Plymouth 4340, New Zealand

Internal complaints process

The following procedure should be followed to register a formal complaint:

  1. In all instances, a complaint should be first directed to the Branch Manager or submitted in writing to the email or postal address above. The complaint will be recorded, reviewed and resolved.
  2. If you are dissatisfied with the decision of the Branch Manager, you may refer the matter in writing to TSB Bank via the email or postal address above.
  3. If the matter remains unresolved, you may refer it to the Banking Ombudsman, by phoning 0800 805 950 or emailing help@bankomb.org.nz

Address: The Banking Ombudsman Freepost 218002 PO Box 10-573, Wellington 6143  

The Banking Ombudsman Scheme is an approved dispute resolution scheme, of which TSB Bank is a participant.

How TSB Bank is regulated?

TSB Bank is licensed as a QFE and regulated by the Financial Markets Authority to provide financial adviser services. TSB Bank QFE status can be checked at www.fspr.govt.nz.

TSB Bank carries out business as a bank (a 'licensed service' under the FAA) and is accordingly registered as a bank by the Reserve Bank of New Zealand under the Reserve Bank of New Zealand Act 1989.

General Banking Terms and Conditions

These General Banking Terms and Conditions will apply to all accounts and services provided by TSB Bank

  • 1. General conditions
    1. Minimum account opening deposit of $350 applies to new TSB Bank Limited ("Bank") customers.
    2. Account specific minimum opening deposits apply. See TSB Bank for details.
    3. If the Bank requests a minimum opening balance, that minimum opening balance may have to be maintained in the account until the relevant account is closed. If any such minimum balance is not maintained, the Bank may make service charges (as specified from time to time in the relevant Account and Service Fees information (which may be obtained from the Bank or online at www.tsbbank.co.nz)).
    4. All accounts must be operated on behalf of the named account holder(s), and must not be used on behalf of any other party.
    5. Account(s) must be used for their stated purpose only. By way of example, personal bank account(s) cannot be used for trading or business purposes and business accounts cannot be opened for personal use.
    6. The Bank may, at any time, require the Account Holder (and any authorised signatory) to prove their identity and their authority to operate the accounts.
    7. Funds deposited into the account may not be able to be withdrawn until they have been cleared. However, if the Bank permits the Account Holder to draw against uncleared funds, the Bank is providing credit and will require to be repaid (including interest and charges)if the payments into the account are reversed out. If a transfer of funds (electronic or otherwise and whether in New Zealand or foreign currency) into an account is, at any time, and for any reason, reversed or dishonoured, the Bank will debit that account for the amount reversed or dishonoured.
    8. The Account Holder may not transfer, assign, or grant any security interest over any rights in an account except in favour of the Bank or with the Bank's prior written consent.
    9. Interest will be charged and service charges will be made on accounts that become overdrawn without the Bank's prior authorisation and, if cheques are unpaid because there are insufficient funds in an account, or because they contain irregularities, the Bank may at its discretion, demand immediate payment of any overdrawn amount and require the account to be closed and all unused cheques, Bank forms or cards returned.
    10. The Bank may, at any time, without notice apply the whole or any part of any balance that may now or at any time in the future stand to the credit of any account(s) (including Term Investment accounts (whether or not they have reached maturity)) to payment of any balance that may be in debit in any other account(s) held in the name of the Account Holder (or any one of them severally) and to close any such account(s) and whether any book entries shall or shall not have been made, to treat such credit balance as having been applied.
    11. If the Account Holder:
      1. holds funds on trust or otherwise for third parties; and
      2. opens an account for, or performs any transaction involving, those funds which is not authorised by the terms of the trust or otherwise by the third parties to the fullest extent provided by law:
      3. under no circumstances is the Bank liable to the Account Holder or any third party for the Account Holder's unauthorised actions; and
      4. the Account Holder is to indemnify the Bank from and against all liabilities, losses and consequences arising from the Account Holder's unauthorised actions.
    12. The Bank may, at its discretion, rely on and act on instructions or requests initiated electronically or by telephone or, in the case of facsimile, bearing the signature(s) appearing to be that of the authorised signatories.
    13. To the fullest extent permitted by law, the Account Holder is to indemnify the Bank against all liabilities or losses incurred by the Bank resulting from the Bank acting or omitting to act in accordance with an instruction which is or purports to have been by or on behalf of the Account Holder, whether by telephone, electronically or by any other method, in relation to the account within the agreed range of services.
    14. The Account Holder will be liable to the Bank for any loss resulting from unauthorised access to an account that is caused, or contributed to by the Account Holder (including failing to keep account and account operating information confidential).
    15. The Bank will deduct withholding tax in respect of any interest credited to an account or paid out and, if the account is a joint account, the highest withholding tax rate applicable to the Account Holders will be applied. If no IRD number is provided, resident withholding tax will be deducted at the default rate.
    16. The Account Holder shall be liable for all costs or charges of any nature incurred by the Bank (including collections and legal fees) as a result of any debt recovery. Any costs or charges incurred will be added to the amount of the original debt.
    17. The Bank may at its discretion suspend the operation of an account (including, if any dispute arises about the operation of that account, until an amicable agreement has been reached between the disputing parties and so notified in writing to the Manager of the relevant branch of the Bank).
    18. Any interest payable on an account will be calculated at the rates and at the intervals prescribed by the Bank from time to time and such rates are subject to change, without notice. Details of current interest rates may be obtained from any branch of the Bank or the Bank's website www.tsbbank.co.nz.
    19. Interest calculations differ by specific account type, see TSB Bank for details. Some account types calculate interest daily, however in the instance funds are deposited on a non-business day, the interest on the deposit value is calculated from the next business day. This means if you deposit funds on a Saturday, interest on the deposited funds will be calculated from the next business day.
    20. Unless requested otherwise by the Account Holder (or an authorised signatory), statements for accounts (excluding Term Investment accounts) will be made available at least every six months, in printed or electronic form. Please note, regardless of applicable statement frequency, the 60 day transaction review requirement (referred to in the verification clause) will apply.
    21. The Bank may make, and debit from an account, the relevant charges (as specified from time to time, in the Bank's Account and Service Fees information (which may be obtained from any branch of the Bank or the Bank's website www.tsbbank.co.nz)) in respect of any account.
    22. The Bank may provide the Account Holder with additional products and services (including Cashflow cards, Digital Banking services, authorised overdrafts and electronic payments). Those additional products and services are provided subject to additional conditions which the Bank may amend from time to time. Where such additional conditions are different to these Account Conditions, those additional conditions take precedence (unless the additional conditions expressly state otherwise). The Account Holder's use of these products and services constitutes the Account Holder's acceptance of the relevant conditions. Copies of the current conditions for the additional Bank products and services are available from any branch of the Bank, or the Bank's website www.tsbbank.co.nz.
    23. The same base number may be used for any further accounts opened by the Account Holder under the same name(s), and the same conditions will apply to such further accounts.  
    24. The Bank may, from time to time, offer additional benefits to the Account Holder. If the Bank makes any additional benefits available, it will then provide the Account Holder with all appropriate details.
    25. The Bank may vary all or any of these account conditions, including fees and charges, at any time. When informing the Account Holder of these variations the Bank will:
      1. give at least 14 days' notice of such variation, and
      2. communicate such variations, either by direct communication or display in all the Bank's branches and/or by notice in the media (including public notices). In addition, where conditions are displayed on the Bank's website, variations will be noted there.
    26. The Bank may close an Account Holder's account or withdraw generally an account or other product or service at any time, and will usually give at least 14 days' notice setting out the relevant details.However, there may be circumstances where the Bank may close an account or withdraw an account or other product or service without prior notice, such as if the Account Holder has acted:
      1. unlawfully or in breach of these, or any other applicable conditions, or
      2. abusively to Bank staff.
    27. The Bank must be advised at the point of onboarding, or at any time after, if any account holder or signatory is or becomes an undischarged bankrupt or is liable under any proceedings pursuant to the Insolvency Act 2006.
    28. The Bank is not liable for any consequence of the failure of any machine or system, or for any strike or dispute, or any circumstances beyond its control.
    29. It is the Accounts Holder's responsibility to ensure the ongoing accuracy of information provided to the Bank.
  • 2. Information Rights
    1. The Bank may obtain credit references or make enquiries within its normal procedures in connection with any account application or upon request (or review) of finance facilities provided to the Account Holder by the Bank. This may require disclosure to a Credit Reporting Agency, and that information may be available to other registered subscribers with that agency.
    2. The Bank may use any information obtained for reasonable business purposes. This includes (but not limited to) fulfilment, marketing, lending, legal compliance and third parties engaged by the Bank for product promotions.
    3. The Bank may wish to seek customer feedback and may provide appropriate information to reputable market research organisations.
    4. Should it become necessary, information may be passed on to debt collection agencies or the information used by the Bank for the purposes of debt collection.
    5. The Bank will ensure that information about the Account Holder is held securely and will not, except for the above purposes or as authorised by the Account Holder or when required or authorised by law, disclose the information to any other person.
    6. Except where it is legally permitted the Account Holder is entitled to see and correct information about them held by the Bank.
    7. The Bank may contact the insurers of any property over which the Bank may hold security in order to obtain details of insurance cover in respect of such property.
    8. Should it be necessary, information may be passed on to interested third parties where there is a reasonable belief fraud has occurred.
  • 3. Verification clause
    1. The Account Holder must:
      1. check transaction lists once they have been made available online or by printable statement for the account to ensure that the entries recorded in that statement are correct, and
      2. notify the Bank in writing within 60 days from the date the transaction is made available online or a statement is issued (whichever occurs first).
    2. If the Account Holder fails to so notify the Bank, to the fullest extent permitted by law:
      1. the Account Holder is deemed to accept that the balance in the account and all transactions recorded in the statement are true, lawful and correct, and
      2. the Bank has a full defence against any action taken by the Account Holder for any claims of any nature including claims for breach of contract, negligence, wrongful debiting of funds and any other tort, equitable remedy or any other cause of action whatsoever brought against the Bank in respect of the account and any transaction recorded in the statement.
  • 4. Payment Authorities
    1. The Bank will use reasonable care and skill to give effect to the directions given to it in regards to any authority.
    2. The Bank accepts no responsibility or liability for the accuracy of the information relating to the payment authority.
    3. The Bank accepts no responsibility or liability arising from late or nonpayment in regards to any authority.
    4. The Bank reserves the right to process payments in any order it wishes, and will not become involved in any dispute between you and any third party,
    5. The Bank may in its absolute discretion refuse to make any one or more payments pursuant to any authority where there are insufficient funds available in the account. Authorities may be terminated where there are insufficient funds available for three consecutive payments.
    6. Authorities may be terminated or reduced by the Bank or the payee without notice in respect of the payments.
    7. Authorities will remain in force and effect in respect of all payments made in good faith notwithstanding the death or bankruptcy of the account holder(s) or any revocation of any authority, until notice of death or bankruptcy or other revocation is received by the bank.
  • 5. Cheque Book
    1. The security of a cheque book is the responsibility of the account holder. It must be kept in a safe place and safeguarded at all times.
    2. The account holder must contact the Bank immediately if a cheque/ cheque book(s) is lost or stolen.
    3. The Bank may refuse to pay out on a cheque that:
      1. has not been correctly completed;
      2. is more than six months old; or
      3. where there are insufficient cleared funds in the account. If this occurs, the Bank may debit from the account the relevant service charge.
    4. Funds deposited into an account by cheque can only be used once cleared (unless a special answer is obtained). An automatic fee will be charged for any dishonored cheque (due to insufficient funds).
    5. Cheques presented with a future date will not be negotiated until that date.
    6. Cheques that have been crossed or have the words Not Transferable cannot be cashed and only be deposited into the account of the person the cheque is made out to.
    7. A stopped cheque will be prevented from being presented against your account. Authorised signatories can request to have a cheque that has not yet cleared stopped.'
  • 6. Joint Accounts/Authorised signatories
    1. Where an account requires one signature for authorisation, any one of the signatories on the account may authorise the undertaking of any transaction or activity regarding the administration of the account, including closing.
    2. Where an account requires more than one signature for authorisation, the specified number of signatories on the account must authorise the undertaking of any transaction or activity regarding the administration of the account, including closing.
    3. In the event of death of one or more of the signatories, the survivor(s) on the account is/are authorised to operate the account and give full discharge to the bank accordingly.
    4. The authority of the authorised signatories shall remain in full force and effect until the Bank receives notice from the authorised signatories (or other authorised person) of the cancellation of such authority.
    5. Joint Account Holders are jointly and severally liable in respect of any money owing on an account.
  • 7. Operator Accounts
    1. Operator accounts must be operated in the interest of the named account holder.
    2. All operator rights will cease when the account holder reaches the age of 18 years or earlier if the operator(s) voluntarily agree to their removal. Prior to this time operator rights can only be removed with the consent of the operator concerned.
    3. If multiple operators are associated with the account approval from any operator will be sufficient to make changes to the account, including closing the account, with the exception of removing another operator.
    4. All account holders under the age of 7 years, require an operator.

Entity Accounts

  • 8. Partnership Only
    1. It is acknowledged that the partners of the Partnership are jointly and severally liable for all matters relating to any Account they hold with the Bank and any information supplied to the Bank.
    2. It is the Partners' responsibly to ensure the ongoing accuracy of information provided to the Bank.
  • 9. Company Only
    1. Solvency Having taken into account all of the relevant factors, the directors of the Company certify:
      1. The Company is able to pay its debts as they become due in the normal course of its business.
      2. The value of the Company's assets is greater than the value of its liabilities including contingent liabilities.
      3. The Company is not engaged or about to engage in business for which its financial resources are unreasonable small.
      4. We are not aware of any liquidation proceedings which have been commenced by any person or which are anticipated by the company.
      5. The Directors confirm, that should there be any indebtedness outstanding in the Company name, or, any accommodated person (including by way of example and not by way of limitation), all moneys owing in respect of: overdraft, credit advances, loans or other financial services of any nature whatsoever to TSB Bank, they (the Directors of the Company) will (by way of personal covenant) be liable for any such debt, whether there is no express agreement made between the company and the Bank), and interest shall be payable at the Bank's current unarranged interested rate, on a daily basis.
      6. It is the Company's responsibly to ensure the ongoing accuracy of information provided to the Bank.
  • 10. Clubs and Societies Only
    1. It is acknowledged that the members of the Club/Society are jointly and severally liable for all matters relating to any Account they hold with the Bank and information supplied to the Bank.
    2. It is the signatories' responsibly to ensure the ongoing accuracy of information provided to the Bank.

Product Specific Terms and Conditions

  • 1. Premier*
    1. A minimum deposit is required to open a Premier Account. No transaction or account management fees are charged for any calendar month in which the balance in the account is never less than the amount required for the minimum opening deposit. These include no cheque, eftpos, or ATM transaction fees. The Bank?s normal fees relating to cheque accounts will apply.
    2. Interest rates payable on the Premier Account are available on request. Interest at the Bank?s current rates is calculated on the minimum calendar monthly balance in the account. Interest rates are tiered so that different rates apply to the portion of your monthly minimum calendar balance within each specified band. Interest is paid annually on each March 31st and interest rates can change from month to month without notice.
    3. If the balance of the account falls below the minimum deposit amount for any part of a month, then the standard Account Management fee as per the fees section will be charged for that month and for any subsequent month in which the balance is less than the minimum deposit amount at any time. This fee is deducted from the account at the end of each applicable calendar month (refer to Accounts and Service Fees information).
    4. The Premier Account is not a term investment, so there are no early termination charges. However, because interest is calculated on the minimum calendar monthly balance of the account, opening or closing an account and depositing funds to or withdrawing funds from an account mid-month can result in no interest being paid for that month.
  • 2. WebSaver and other Personal On Call accounts*
    1. Statements will be available in electronic form only.
    2. No EFTPOS or ATM transactions, or third party payments are permitted.
    3. Must be opened in conjunction with a TSB Bank everyday account.
    4. WebSaver are online accounts and the account holder must have Online or Mobile Banking to operate.
  • 3. Term Investment
    1. An Account Holder may only terminate or partially withdraw the Term Investment deposit before its maturity date with the consent of the Bank.
    2. Termination or partial withdrawal will result in a recalculation of interest such that:
      1. for any other early termination or withdrawal, the applicable interest rate will be half that applying for the current term;
      2. if the deposit is terminated or withdrawn in the first 30 days of the initial term, no interest will be paid;
      3. once termination or partial withdrawal has occurred, the applicable interest rate will be halved for the withdrawal period, that being, the date the funds were first invested to the date the funds were withdrawn. The remaining funds will earn interest at the existing interest rate for the remaining period of the investment.
      4. any withholding tax payments may also be affected.
    3. If the Bank has not received instructions from the Account Holder about what to do with the deposit at maturity, the Bank will renew the Term Investment at the then current rate for the specified term.
    4. Account Holders may contact the Bank with new maturity investment instructions up to ten days after investment maturity date.
  • 4. Funeral Term Investment*

    1. Funds from the Funeral Term Investment can only be paid out to the Funeral Director or authorised person acting on the Account Holders estate.
    2. Any surplus funds will be held alongside any other estate assets.

  • 5. Horizon Savings*
    1. Payments may be made to the Horizon Savings account by automatic payment, direct credit, salary deduction or other payment arrangements agreed to by the Bank.
    2. Payments may not be made from the Horizon Savings account by automatic payment, direct debit, salary deduction or other payment arrangements agreed to by the Bank.
    3. EFTPOS, ATM and TSB Bank branch assisted withdrawals from the Horizon Savings account will incur a fee (refer to Account and Service Fee Information).
  • 6. Youth and Freestyle Junior*
    1. Account holders must be under the age of 18.
    2. When the account holder reaches the age of 18, the Youth and/or Freestyle Junior account will be changed to a suitable TSB Bank everyday account.
  • 7. Student First package*
    1.  An account holder must meet the following criteria to be eligible for any part of the Student First package:
      1. Studying part or full time (determined by Studylink criteria);
      2. Studying at a New Zealand University, Polytechnic, Industry Training Organisation or NZQA Approved Place of Study;
      3. Must be studying a course longer than 32 weeks in length or 0.25 EFTs as set out by Studylink;
      4. Must be over 18 to apply for the Visa Credit or Overdraft facilities.
    2.  Account holders will be entitled to a Post-Graduate Package for one year once study has been completed during this period:
      1. Your Student First Account will continue to operate under the same terms;
      2. Visa Credit fees will apply;
      3. Overdraft will remain interest free.
    3. After the Post-Graduate period, all fees and interest relating to your Visa Credit and overdraft will apply to the account and overdraft.
    4. Once an account holder is no longer eligible (including after one year of receiving the Post-Graduate package), the Student First account will be changed to a suitable TSB Bank everyday account.
  • 8. Foreign Currency account
    1. A minimum deposit is required to open a Foreign Currency Account, unless wages are being direct credited or an inward payment is expected.
    2. All fees and charges will be debited from the associated TSB Bank New Zealand dollar account.
    3. Overdrafts will be approved at the Bank?s discretion. If an overdraft is approved, the notification confirming this approval will include details regarding the interest due and any other fees and charges.
    4. Transactions in excess of the account balance will be processed at the Bank?s discretion. If such payments are processed an honour/ dishonor fee will be charged to the account. If such a payment is processed the Bank retains the right to demand any unauthorised overdraft is repaid.
    5. Where the sum is required to be converted into another currency, such conversion shall be effected by TSB Bank at the prevailing rate of exchange (which includes a currency conversion commission) for such currency.
    6. TSB Bank and BNZ are not liable for any exchange rate movements that may affect the value of the on call account.
    7. TSB Bank and BNZ reserve the right to alter interest and exchange rates and charges at any time without prior notice. Details of current interest and exchange rates and charges may be obtained from any branch of TSB Bank or TSB Foreign Exchange.
  • 9. Foreign Exchange Services
    1. For full details on the Bank?s Foreign Exchange Services and related fees, please refer to the Foreign Exchange Commission and Fees brochure available from TSB Bank.
  • 10. Business Cheque, Business Everyday and Business On Call
    1. These accounts are available for Business use only. Using any business account offered by the Bank for use outside of this may result in closure at the Bank?s discretion.
    2. The Bank reserves the right to decline a business account at any time, including the request of a business account by an existing customer.
  • 11. Visa Classic Credit Card
    1. For full details on the Bank?s Visa Credit card and related fees, please refer to the Visa Classic Credit Information brochure available from TSB Bank.
  • 12. Fisher Funds KiwiSaver Scheme
    1. TSB Bank is a distributor of the Fisher Funds KiwiSaver Scheme (for which the Bank receives a commission). Full details, including terms and conditions, are available in the Fisher Funds KiwiSaver Scheme Product Disclosure Statement, which is available from TSB Bank or Fisher Funds Management Limited.
  • 13. Insurance Products
    1. TSB Bank distributes a range of insurance products from Tower, Cigna, Sovereign and Vero for which TSB Bank receives a commission. For full product details, please refer to the relevant product Policy Wordings available from TSB Bank.
    2. For agribusiness and commercial insurance, TSB Bank can refer a third party, and may receive a commission for the referral.
  • 14. TSB Bank Prize Draw Promotions
    1. From time to time, TSB Bank may make available prize draw promotions in respect of some or all of its products and services.
    2. Currently, TSB Bank customers could be in to win in the TSB Bank Monthly Car Draw promotion and/or the TSB Bank Monthly Cash Draw promotion.
    3. For each prize draw promotion, TSB Bank will specify the amount of the cash prize, or the non-cash prize.
    4. TSB Bank reserves the right to suspend a prize draw promotion, amend the prize draw promotion conditions (including setting a period for the promotion) or withdraw a prize draw promotion completely at any time.
    5. Entry into the TSB Bank prize draw promotions:
      1. TSB Bank Monthly Car Draw: Each complete $100 in a Connect Plus and Saver Plus account at the time of each draw entitles the account holder to five entries in the TSB Bank Monthly Car Draw, and
      2. TSB Bank Monthly Cash Draw:
        • Each complete $1,000 in a Premier or WebSaver account at the time of each draw entitles the account holder to one entry in the TSB Bank Monthly Cash Draw, and
        • TSB Bank may, from time to time, give other users of TSB Bank products and services chances to win in the TSB Bank Monthly Cash Draw. Details of requirements for entry for these other Bank products and services will be advertised when relevant.
    6. The prize draws will take place on the last business day of each month during the period of the promotions.
    7. TSB Bank will make reasonable endeavours to contact the winner(s) of the prize draws. If the winning account holder(s) cannot be contacted by TSB Bank within 30 days of the prize draw, their prize will be forfeited.
    8. Winners must agree to publicity in a manner determined by TSB Bank. Should they not agree to such publicity, their prize will be forfeited.
    9. The following are ineligible for entry into the prize draws or to receive prizes associated with the prize draw: all TSB Bank employees and contractors including Realty agents and Trustees and employees of TSB Bank Community Trust, Directors of TSB Bank, Fisher Funds executive, spouses, partners and children of the above including children of partners or spouses, parents of TSB Bank management , auditors and employees of auditors appointed to oversee the prize draws, Directors, Principals and employees of any company providing prizes for any TSB Bank promotion.
    10. TSB Bank will only accept instructions from those persons notified to TSB Bank as authorised to act as signatories on the relevant account.
    11. Where the winner of the prize is under 16:
      1. the 'Conditions of Acceptance for the TSB Bank Monthly Car Draw' must be co-signed by a parent or legal guardian, and
      2. where the prize is a car, the winner and the co-signing parent or guardian must agree for the parent/guardian to take legal ownership of the car on behalf of the winner.
    12. Prizes (other than cash) cannot be redeemed for cash.
    13. TSB Bank's decisions on all matters relating to the prize draw promotions shall be final and binding
    14. Prize draws available for personal customers only. Non-personal customers such as Trusts and Companies, as well as any party using a Premier, WebSaver, Connect Plus or Saver Plus account for business purposes, are ineligible for entry into the prize draws. 

Digital Banking Terms and Conditions

  • 1. Online and Mobile Banking ("Digital Banking")
    1. By using Digital Banking you are accepting these Terms and Conditions and acknowledge that these are in addition to other Terms and Conditions that already apply to TSB Bank accounts.
  • 2. What are our responsibilities for Digital Banking?
    1. We will take appropriate measures to ensure our Digital Banking systems are secure and are regularly reviewed and updated for this purpose.
    2. We will never ask you in person, by phone or in writing (including by email) to disclose your password, PIN, payment authentication details or your Digital Banking security information.
    3. If you incur a direct loss that is due to a security breach of our Digital Banking systems as a result of our failure to take reasonable care and it is not caused or contributed to by you, we will reimburse you for that loss.
    4. Your computer, mobile phone or device is not part of our system and therefore we cannot control, and are not responsible for, its security. However, we may obtain location information for security purposes.
    5. We do not support all software (browser or operating system) or hardware (i.e. mobile devices, tablet or other devices). You can find a list of supported hardware and software on our website. If you are not using supported hardware or software we cannot guarantee the functionality of our Digital Banking service.
  • 3. What are your responsibilities?
    1. You must ensure:
      1. your computer, mobile phone or device has protective software (such as virus scanning, firewall, anti-spyware and anti-spam software) and an operating system installed;
      2. the protective software and operating system installed on your computer, mobile phone, tablet or other device is continually updated within a reasonable period of time;
      3. you use only authentic software and hardware (e.g. you will not operate on a device that is "jailbroken");
      4. any images uploaded through Digital Banking will not be: inappropriate, offensive in nature, contain pornography, violence or criminal intent or copyrighted by others. We reserve the right to delete inappropriate images or cancel your service;
      5. you meet any charges from 3rd party suppliers including, but not limited to, mobile network provider, Internet Service Provider, Accounting Software etc; and
      6. if you no longer use a device (i.e. sell or give it away) then your data is wiped.
    2. You must tell us immediately if your computer, mobile phone, tablet or other device used for Digital Banking has been lost or stolen.
  • 4. Moving Money - making payments and transfers
    1. It is your responsibility to control and monitor your payments. When making a payment or transfer, you need to ensure:
      1. the account has cleared funds available to cover the amount being paid/transferred
      2. the payment/transfer instructions are correct e.g. bank account , date of payment.
      3. have taken into account bank processing times.
      4. the payment/transfer instructions have been confirmed.
    2. Once you confirm an instruction we are unable to reverse the transaction(s) so it is your responsibility to ensure the accuracy of instructions.
    3. We will never ask for your Password, PIN or payment authentication codes.
  • 5. Other things to note regarding your payments
    1. Payments made today will update your balance and go out of your account as soon as you confirm the payment, and cannot be edited or deleted. If you choose a date other than today, payment will go on the chosen date, subject to available funds. These payments will appear as a pending payment, and can be deleted before the due date.
    2. If you do make an error, you must notify TSB Bank immediately, and we will use best endeavours to help resolve the issue. However, a payment to an incorrect account number can only be recovered if the owner of that account approves. Fees will apply
  • 6. Keeping your password safe
    1. You must:
      1. never disclose your Digital Banking security information (e.g. PIN code, User Name, Password or payment authentication code) to anyone else (including , but not limited to, bank staff, police, family members or companies);
      2. not record your password or your Digital Banking security information (such as keeping your password on a file or on your computer, in a wallet, mobile phone or device);
      3. not create or use a password or PIN that can be easily found out, or uses personal information about yourself (e.g. middle names, family names, date of birth, street or pet names);
      4. create or use a password that is unique and/or is not the same as or similar to passwords used for other services you use;
      5. change your password immediately if anyone else does or may know it;
      6. take reasonable care when accessing Digital Banking to ensure that your password and your Digital Banking security information are not seen by or disclosed to anyone else;
      7. not open attachments or run software from untrusted or unknown sources;
      8. not respond to any requests for your password or your Digital Banking security information;
      9. not leave your computer, mobile phone, tablet or other device unattended while you are logged on to Digital Banking;
      10. lock your mobile phone or device to stop unauthorised use of Mobile Banking; and
      11. avoid use of shared computers to use Digital Banking, such as those in internet cafes
  • 7. What is your liability?
    1. You will not be liable for any loss resulting from any unauthorised use of Digital Banking unless you have acted fraudulently or negligently, or you have breached these terms by:
      1. failing to reasonably safeguard your computer, mobile phone, tablet or other device
      2. selecting an unsuitable password;
      3. disclosing your password or Digital Banking security information to someone else;
      4. failing to keep your password or Digital Banking security information safe; or
      5. not telling us immediately that your password or your Digital Banking security information is or may be known by another person or there has been an unauthorised use of Digital Banking.

BusinessBank Terms and Conditions

  • 1. Overview
    1. These Terms and Conditions set out the basis upon which we provide the use of BusinessBank. It is important that you read and understand these Terms and Conditions before using BusinessBank, as your use of BusinessBank signifies both your acknowledgement of your understanding and your acceptance of these Terms and Conditions.
    2. We may change these Terms and Conditions at any time, but will endeavour to provide you with 14 days? notice (by post, email, in our branches, on our website, or by public advertisement) before any change takes effect.
    3. Other terms and conditions may also apply to your use of BusinessBank, including the Website Terms and Conditions. If there is a conflict between these Terms and Conditions and any other TSB Bank terms and conditions, these Terms and Conditions will apply if the conflict relates to your use of BusinessBank.
    4. Even if we do not immediately exercise a right under these Terms and Conditions we can still exercise that right in the future.
  • 2. Using BusinessBank
    1. Each Authorised User must use BusinessBank in the manner described in the BusinessBank User Guide and in accordance with these Terms and Conditions.
    2. We will provide training and assistance in the use of BusinessBank if requested. Fees may apply.
    3. Transactions processed using BusinessBank are delivered to the Payee as cleared funds and are not able to be reversed. Future instructions cannot be cancelled or changed once funds have been cleared.
    4. Authorisation by a Token Holder (or multiple Token Holders if the service is set up in that way) is your authority to us to transact in accordance with those instructions. You undertake to have internal processes in place to protect against unauthorised use of Tokens. You agree that we are under no obligation to take any further steps to verify instructions authorised by a valid Security Token(s). You agree that we have your authority to transact in accordance with validly authorised instructions, whether or not the Account Holder has given authority for those instructions. In such cases TSB Bank will not be liable for any losses arising from such transactions.
    5. You will ensure that there is no reproduction of any proprietary information relating to BusinessBank, other than as authorised by us.
    6. You are responsible for all breaches of these Terms and Conditions by Users. It is your responsibility to ensure Users are aware of their obligations and that they comply with these obligations.
  • 3. Security
    1. Each User must select a unique Security Password and memorise it. This Security Password must exclude obvious or sequential numbers and must not relate to any known personal information about the Authorised User (including dates or birth, phone numbers, family member names or driver licence details).
    2. Each User must not use their Security Password for any other purpose, store it in any way (whether written down, stored digitally or recorded as an auto-saved password), or disclose it to anyone (including family members or TSB Bank staff).
    3. Each User must take all reasonable steps to prevent disclosure to any other person when entering their User ID or Security Password and must always ensure that computers and devices used for accessing BusinessBank have up-to-date and effective protective software, firewalls and security updates installed.
    4. Each User will be required to change their Security Password at least every 90 days, but may change it at any time.
    5. If a User is provided with a Security Token it is that User?s responsibility to keep their User ID, Security Password and Security Token safe.
    6. If a User believes, for any reason, that their User ID or Security Password could be known by another person, that their Security Token has been lost or stolen, or if they discover any unauthorised use of the Nominated Accounts, they must change their Security Password immediately and call us on 0508 692 265.
    7. Should an unauthorised person gain access to BusinessBank, all Users must provide us with all reasonable cooperation to enable us to establish how the Unauthorised Person gained access and assist us in recovering any losses.
  • 4. Reimbursement
    1. We will reimburse you for any direct losses you incur which are caused solely by our employees or agents acting fraudulently, or any Unauthorised Transaction where it is clear you or your staff have not contributed to the loss.
    2. Other than in circumstances set out in clause 4.1 above, we will not reimburse you for any losses of any nature, whether they be direct or indirect, where such losses were caused by:
      1. a User?s use of BusinessBank;
      2. a User?s inability to access BusinessBank;
      3. errors in a User?s instructions;
      4. our delay or error in processing instructions or in transmitting information entered into any payment field;
      5. our refusal to process instructions; or
      6. a User?s breach of any TSB Bank terms and conditions, including these Terms and Conditions.
  • 5. Nominated Accounts
    1. An Authorised Signatory can approve which Customer Number(s) are loaded to BusinessBank. Once a Customer Number is linked to BusinessBank, the Super User can add or remove accounts held under that Customer Number.

    Accounts accessible on BusinessBank are called Nominated Accounts. We may specify which of your accounts can be Nominated Accounts, and who is able to access them.

  • 6. Access
    1. In relation to BusinessBank there are three different parties:
      1. Authorised Signatory - An Authorised Signatory is appointed by the Account Holder and is authorised to:
        1. operate the Nominated Accounts;
        2. add or remove Nominated Accounts;
        3. authorise the issuing of Security Tokens;
        4. give instructions to us in respect of BusinessBank; and
        5. appoint and remove the Super-User. An Authorised Signatory may also be a Super-User or a User for BusinessBank.
      2. Super User (aka Designated Administrator) - A Super User is appointed by the Account Holder to have primary responsibility for the management of the BusinessBank Service. A Super User is issued with a User ID to access BusinessBank, and is authorised to:
        1. add or delete Users;
        2. add, modify or delete sub-accounts; and
        3. authorise the level of access for each User. A Super User may, as part of this Application, be issued with a Security Token authorised by an Authorised Signatory, which would enable the Super User to also authorise transactions.
      3. User - A User is appointed by the Super User and is issued with a User ID to access BusinessBank. A User is authorised to access and use certain assigned BusinessBank functions, as determined by the Super User. A User may also be issued with a Security Token if this is authorised by the Authorised Signatory.
    2. Any User issued with a Security Token will have the ability to authorise any transaction in BusinessBank, subject to any restrictions such as multi-Token authorisation. You undertake to have internal processes in place to protect against unauthorised use of Tokens.
    3. Applications to us for Security Tokens require the written authority of an Authorised Signatory. An Authorised Signatory must advise us when a new User requires a Security Token. If a Token Holder leaves the Super User must delete their User ID and notify us.
    4. When contacting TSB Bank, individuals will have the right to access information and services in accordance with their level of access they have been given in BusinessBank. TSB Bank will take reasonable steps to ensure that that rule is adhered to. TSB Bank takes no responsibility for loss resulting from any accidental breaches where we have acted in good faith.
  • 7. Payments
    1. It is your responsibility to ensure sufficient cleared funds are in your account to enable all Payments to be processed (including funds to cover any applicable fees). We will not process Payments if there are insufficient cleared funds available or if we are otherwise prevented from doing so.
    2. You agree that we may process Payments in any order.
    3. All Payments will be credited to the account number you have provided as cleared funds, and once made cannot be cancelled, reversed, stopped or amended.
    4. We do not check that the information entered into any of the payment fields is correct, or that the account name corresponds with the account number.
    5. You will not be able to access funds from cheque deposits until such cheques are cleared.
    6. If a Payment has been made to an incorrect account number you may request (within 24 hours) that we assist in recovering that Payment. Payments made to an incorrect account number can only be recovered if the owner of that account approves the reversal. We are not obliged to assist in any Payment recovery and we make no guarantee that any recovery action will be successful. Any expense incurred by us in attempting to recover such a Payment (whether successful or not) will be deducted from your account. We will not become involved in any dispute between you and any third party.
    7. Payment instructions received from approved third party interfaces will not be processed until fully authorised through BusinessBank.
    8. If a Payee requests details of your recorded address, you authorise us to provide such information to that Payee.
  • 8. Initiating of Direct Debits
    1. You may apply to become a Direct Debit Initiator which will allow approved Users to generate electronic direct debits to customer accounts for the purposes of obtaining payment for goods.
  • 9. Fees
    1. Certain transactions or changes on BusinessBank will incur fees. We may also charge you an establishment fee and a monthly access fee.
    2. You authorise us to debit our fees directly from your Nominated Account, along with any Government taxes and other applicable charges, even if this overdraws your account.
    3. We may vary our fees from time to time with 14 days? notice. Details of our current fees are available at www.tsbbank.co.nz.
  • 10. Service Availability
    1. We aim to have BusinessBank available at all times. However, there may be times when BusinessBank is unavailable. In addition access restrictions limiting the access times may be applied by the SuperUser at any time.
    2. We may suspend or cancel your access to BusinessBank at any time without prior notice. We will, however, take reasonable steps to contact you if the service is suspended or cancelled.
    3. You may request that we cancel your access to BusinessBank at any time by providing us with 14 days? notice in writing. You will remain responsible for any transactions made through BusinessBank until the time of cancellation.
  • 11. Bank Statements
    1. You agree to check all bank statements provided by us and to notify us of any errors within 60 days of the date of each bank statement.
    2. If we do not receive notice from you within 60 days of the date of each bank statement, we will take that as your acceptance that both the account balance and any transactions recorded in the bank statement is correct.
  • 12. Account Holder Indemnity
    1. You agree to indemnify us for all losses suffered by us, our customers or third parties, and for any actions or claims brought against us by customers or third parties, which result from any breach of these Terms and Conditions.
  • 13. New Zealand Law
    1. New Zealand law applies to these Terms and Conditions. If a New Zealand Court decides that any of the terms are unlawful, we will remove that term. In such circumstances the remaining terms will continue to be enforceable.
  • 14. Defined Terms
    Account Holder

    means the person(s) who are the listed owners of the accounts linked to the BusinessBank service;

    Authorised Signatory

    means the person described in clause 6.1(a);

    BusinessBank

    means the service provided by TSB Bank under these Terms and Conditions;

    BusinessBank User Guide

    means the document provided by TSB Bank (and any amendments) setting out the details of BusinessBank and the manner in which it must be used;

    Super-User (aka Designated Administrator)

    means the person described in clause 6.1(b);

    Customer Number

    means a unique customer identity number in the TSB Bank system. An entity may have a number of Customer Numbers associated with it;

    Direct Debit Initiator

    means an Account Holder who has applied for, and has been granted, authority to generate electronic direct debits to customers? accounts;

    Nominated Account

    means an account accessible by a User through BusinessBank;

    Payee

    means any recipient of a Payment;

    Payment

    means any transaction initiated in BusinessBank, including any payment, transfer or Schedule;

    Schedule

    means a group of Payments set up in BusinessBank to be authorised together;

    Security Password

    means the unique security ?sign on? password chosen by each Authorised User to enable access to BusinessBank;

    Security Token

    means the device issued to certain Users which displays a coded number (valid for 60 seconds) and is required to be entered into BusinessBank, in addition to that User?s Security Password, before undertaking certain transactions;

    Token Holder

    means a User who has been issued with a Security Token;

    TSB Bank

    means TSB Bank Limited, a duly incorporated company having its registered office at Level 5, TSB Centre, 120 Devon Street East, New Plymouth;

    Unauthorised Transaction

    means any transaction that was not properly authorised by a valid Security Token(s); or fraudulent activity carried out in contravention of your internal processes around the use of Security Tokens;

    User ID

    means the unique identifier issued to each Authorised User to be used in conjunction with their Security Password to gain access to BusinessBank;

    User

    means any person authorised by the Super User to access BusinessBank, and may include the Account Holder. A User is identified through a User ID;

    We, us, our

    are references to TSB Bank;

    Website Terms and Conditions

    means the terms and conditions relating to the use of the TSB Bank website www.tsbbank.co.nz/Info/ TermsAndConditions.aspx, including any amendments;

    You and your

    are references to the Account Holder.

Account and Service Fee Information

These Account and Service Fees are applicable to accounts currently being offered by TSB Bank. For all other accounts, see TSB Bank for details.

Everyday accounts

Connect Plus, Personal & Saver Plus

* Use of ATMs not owned by any bank in New Zealand may incur a service fee (in addition to standard account transaction fees) for which TSB Bank receives a commission.
** Manual transactions are defined as a 'staff assisted transaction.'
Account fee - Monthly management fee

Free

Account fee - Activity fee

Free

Withdrawal fee - ATM fee*

Free

Withdrawal fee - EFTPOS fee

Free

Withdrawal fee - Manual transaction fee**

Free

Deposit fee - Manual transactions**

Free

Deposit fee - Fastbank fee

Free

Cheque clearance fee

Free

Savings accounts

WebSaver

* Use of ATMs not owned by any bank in New Zealand may incur a service fee (in addition to standard account transaction fees) for which TSB Bank receives a commission.
** Manual transactions are defined as a 'staff assisted transaction.'
Account fee - Monthly management fee

Free

Account fee - Activity fee

Free

Withdrawal fee - ATM*

N/A

Withdrawal fee - EFTPOS

N/A

Withdrawal fee - Manual transactions**

N/A

Online and Mobile Banking transfers between own accounts

Free

Deposit fee - Manual transactions**

N/A

Deposit fee - Fastbank fee

N/A

Cheque clearance fee

N/A

Horizon Savings

* Use of ATMs not owned by any bank in New Zealand may incur a service fee (in addition to standard account transaction fees) for which TSB Bank receives a commission.
** All Horizon Savings account withdrawals will incur a $1 fee, however Online and Mobile Banking transfers are free. Payments by automatic/bill payment, direct debit, salary deduction cannot be made from the account.
*** Manual transactions are defined as a 'staff assisted transaction.'
Account fee - Monthly management fee

Free

Account fee - Activity fee

Free

Withdrawal fee - ATM*

$1 per withdrawal* **

Withdrawal fee - EFTPOS

$1 per withdrawal* **

Withdrawal fee - Manual transactions**

$1 per withdrawal** ***

Online and Mobile Banking transfers between own accounts

Free

Deposit fee - Manual transactions***

Free

Deposit fee - Fastbank fee

Free

Cheque clearance fee

Free

Investment accounts

Premier

Account fee - Monthly management fee

Free, or $10 if monthly balance falls below $5,000*

Account fee - Activity fee

Free

Withdrawal fee - ATM**

Free

Withdrawal fee - EFTPOS

Free

Withdrawal fee - Manual transactions***

Free

Online and Mobile Banking transfers between own accounts

Free

Club & Society and Youth Accounts

* Use of ATMs not owned by any bank in New Zealand may incur a service fee (in addition to standard account transaction fees) for which TSB Bank receives a commission.
** Manual transactions are defined as a 'staff assisted transaction'.
Account fee - Monthly management fee

Free

Account fee - Activity fee

Free

Withdrawal fee - ATM*

Free

Withdrawal fee - EFTPOS

Free

Withdrawal fee - Manual transactions**

Free

Deposit fee - Manual transactions**

Free

Deposit fee - Fastbank fee

Free

Cheque clearance fee

Free

Business accounts

1 May not be available in all areas.
2 Use of ATMs not owned by any bank in New Zealand may incur a service fee (in addition to standard account
transaction fees) for which TSB Bank receives a commission.
Business Accounts Business Cheque1 Business Everyday1 Business On Call1
Account fee - Monthly management fee $3 $10 Free
Activity fee per transaction2 $0.25 Included in monthly management fee N/A
Cheque clearance fee $0.25 $0.25 N/A

Foreign Currency Account

Refer to the Foreign Exchange Commission and Fees brochure.

Standard Cashflow Card/ATM

*Use of ATMs not owned by any bank in New Zealand may incur a service fee (in addition to standard account transaction fees) for which TSB Bank receives a commission
**All Horizon Savings withdrawals will incur a $1 fee, however Online and Mobile Banking transfers are free. Payments by automatic/bill payment, direct debit, salary deduction cannot be made from the account
***TSB Bank Cashflow cards will operate in CBA (Commonwealth Bank of Australia) ATMs. Commission of 0.70% will be charged on the exchange rate for each transaction
ATM withdrawals from any NZ bank ATMs* **

Free (Horizon Savings exempt - See Savings table)

ATM balance enquiry from any NZ bank ATM*

Free

Replacement of lost or damaged cards

$10

ATM withdrawal from CBA ATM***

$5 per advance

Visa Classic Credit Card

Refer to Visa Classic General Information

Visa Debit Card

Refer to Visa Debit Fees information.

Direct Debits*

*All Horizon Savings account withdrawals will incur a $1 fee, however Online and Mobile Banking transfers are free. Payments by automatic/bill payment, direct debit, salary deduction cannot be made from the account.
Establishment fee

$3 per authority (Premier accounts exempt)

Reactivating fee

$3 per authority

Non payment (insufficient funds) fee

$7 per payment

Alteration fee

$3 per authority for any alteration

Automatic Payments*

*All Horizon Savings account withdrawals will incur a $1 fee, however Online and Mobile Banking transfers are free. Payments by automatic/bill payment, direct debit, salary deduction cannot be made from the account
Establishment fee

$3 per authority, for payments to all non TSB Bank accounts (Premier accounts exempt)

Reactivating fee

$3 per authority

Hold payment fee

$3 per authority

Alteration fee

$3 per authority for any alteration

Payment service charge

25 cents for payments to another bank (Premier accounts exempt)

Payment to TSB Bank accounts

Free

Non payment (insufficient funds) fee

Free

Cheques

Dishonoured cheques

$7 per cheque

Stopped cheques

$10 per cheque (No charge for lost or stolen cheques)

Bank cheque

$3 per cheque

Special answer

$15 per cheque

Unarranged Overdraft

In addition: interest is charged on the daily overdrawn balance, at the prevailing unarranged interest rate and charged to the account at the end of each calendar month
Fee

$10 per month

Same-Day Cleared Payments

Same-day cleared payment fees - No notification required

$20 per payment

Same-day cleared payment fees - Where notification is required to payee customer

$25 per payment

Online & Mobile Banking

*All Horizon Savings account withdrawals will incur a $1 fee, however Online and Mobile Banking transfers are free. Payments by automatic/bill payment, direct debit, salary deduction cannot be made from the account.
Online access fee and app download fee

Free

Transfers between your own TSB Bank accounts

Free

Regular Payment or Regular Transfer set-up fee

$2 per payment set-up (Free to amend the amount or frequency of an existing payment, or to delete an existing payment).

Bill payment, standard payee, personal payee, internet regular payment service charge, immediate payment service charge*

Free

TSB Bank online security token

$25

BusinessBank

BusinessBank monthly access fee

$10

TSB Bank Online Security Token

$25

Direct Credit payments of one-off payments to TSB Bank accounts

Free

Direct Credit payments or one-off payments to other banks accounts

25 cents per transaction

Direct Debit, Standard Payee and Tax Payments

25 cents per transaction

Transfers between your own TSB Bank accounts

Free

Online Banking Only

Xero signup fee

Free

Xero backdated transactions (optional)

$10 per account selected

Txt Banking

1 All Horizon Savings account withdrawals will incur a $1 fee, however Online and Mobile Banking transfers are
free. Payments by automatic/bill payment, direct debit, salary deduction cannot be made from the account.
TXT Banking set-up fee

Free

TXT Banking Transaction fee1

40 cents per two ways message transaction 

Phone Banking

*All Horizon Savings account withdrawals will incur a $1 fee, however Online and Mobile Banking transfers are free. Payments by automatic/bill payment, direct debit, salary deduction cannot be made from the account.
Telephone access fee

$10 per user, per six month period (First payment in advance, and six monthly thereafter)

Transfers between your own TSB Bank accounts*

Free

Bill payment, Standard Payee payment service charge

Free

Alerts

TXT Alert

20 cents per one-way text message

Email Alert

Free for the first 10 in a calendar month. (10 cents per email message after that, within the same calendar month)

Cash Handling Fee (Business Customer Only)

Notes over $5,000 per day

$3 per $1,000

Coins over $100 per day

$3 per $100

Emailing or Faxing of Information

Signatures between branches

$2 per request

Other information per request

$2 per page

Auditors Confirmation Report

*Non-profit organisations are exempt from this fee
Report fee*

$60 per hour (minimum fee $15)

Direct Credit Recovery

Recovery service fee

$35 per transaction (No fee charged to the customer if the payment was a bank error)

Inactive Accounts

Annual fee

$25 (Charged on 30 September if there is no customer initiated activity with 4 years and the balance is less than $500)

Lodgement to Other Banks

Deposits

$4 per transaction plus 25 cents per cheque

Commercial deposits

$5 per transaction plus 25 cent per cheque

Cash handling fee

$2 per $1,000

Statement & Slip Searches

First statement per month

Free

Second and subsequent statement per month

$2 (Deducted at the end of the month)

Statement reprints

$4 per copy. This includes both statement history/reprints and copies from archives

Duplicate statements

$4

Screen printouts

$1

Slip searches

$60 per hour (minimum fee $15)

Cheque image search

$2 per cheque

Cashflow Terms and Conditions

  • 1. Using your Cashflow card
    1. When you receive your card, it must be signed immediately and must only be used by the cardholder. The cardholder is defined as the person named against the card number within the TSB Bank data system.
    2. Do not give your card/s to anyone, let anyone else use your card/s, or disclose your PIN (including to Police, Bank staff, internet request or your family). Even during an investigation by Bank staff or Police, your PIN is not required.
    3. Make sure no-one can see you enter your PIN at ATMs or when using EFTPOS.
    4. Take care of your card/s. Do not leave your card/s in an unattended wallet, purse, vehicle or anywhere a thief could remove a card without being noticed (particularly in night clubs, hotels or restaurants).
    5. When using your card, never let it out of your sight, and always remember to take your card back after using it.
    6. Tell us if you change your address, so replacement card/s are sent to the correct place.
    7. Report loss or theft of your card/s as soon as you are aware of it.
  • 2. Looking after your PIN
    1. You have just selected (or changed) your TSB Bank Cashflow card Personal Identification Number (PIN).
    2. This PIN is the means by which your card can be used to make cash transactions, so you should ensure that the PIN number is memorised and ONLY known to yourself. The PIN must not be written on the card, cheque book or anywhere else, or knowingly disclosed to any other person.
    3. Your PIN must be a random number which will not be guessed by anyone else. Birth dates, telephone numbers and other personal information should be avoided.
      Examples of numbers easily guessed:
      • Birthday (eg. 2803) or year of birth (eg. 1978)
      • Sequential or combination numbers (eg. 1234, 1111)
      • Spouse or child birthday, anniversary, etc
      • One of the sets of numbers embossed on the card
      • Parts of telephone/cellphone number
      • Your age, twice (eg. 3838)
      • Drivers licence number or expiry date
      • Locker or alarm code
    4. In all cases, where the advice listed is disregarded, TSB Bank will accept no liability for any losses incurred as a result of fraudulent activity involving your Cashflow card.
    5. The card remains the property of the Bank, which may retain the card at any time or amend or cancel its use. If the cardholder closes their account(s) with the Bank, the card must be returned to the Bank.
  • 3. Using ATMs
    1. The card may be used at electronic banking terminals to make cash withdrawals from the cardholder's nominated accounts. Other types of transaction may from time to time become available through terminals and in all cases the use of the card and PIN shall be sufficient authority for the Bank to process the transaction against the account(s) nominated by the cardholder.
    2. The hours of use of these terminals may be varied from time to time.
    3. The electronic banking terminals and EFTPOS systems may not be available from time to time due to malfunction, for which the cardholder will not hold the Bank responsible.
  • 4. Using Cashflow in Australia
    1. It?s easy to access cash in Australia using your TSB Bank Cashflow card at any Commonwealth Bank ATM. Use any Australian Commonwealth Bank ATM as you would a TSB Bank ATM, simply enter your card and PIN as usual.
    2. Your balance will be displayed in New Zealand and Australian dollars, taking the guesswork out of conversion.
    3. Your receipt will show your remaining account balance in both currencies. With over 3,300 Commonwealth Bank ATMs in Australia, you won't be caught short.
    4. Cashflow cards issued before 1 January 2006 (with a card number earlier than 5000 5300 0748 0085) will need to be replaced before using them in Australia. Cards will be reissued at no cost, simply contact TSB Bank to arrange a replacement.
    5. Maximum withdrawal limits apply. The prevailing business day sell exchange rate at the time will apply. A service fee of NZ$5 will apply as well as a currency conversion fee, both paid at the time of withdrawal.
  • 5. Using EFTPOS
    1. The card may also be used at EFTPOS (Electronic Funds Transfer at Point of Sale) terminals where the cardholder may use the card to pay for goods and services. The funds are transferred electronically from the cardholder's account to the merchant's account.
    2. At the merchant's discretion, cash withdrawals may also be made through EFTPOS terminals.
    3. The hours of use of EFTPOS are set by the merchant. Any dispute that the cardholder may have with the merchant in respect of either acceptance of the card, or the goods or services purchased must be resolved with the merchant.
  • 6. Withdrawals
    1. Cash withdrawals and purchases may be made from cleared funds in the cardholder's nominated account up to the daily transaction limit.
    2. Withdrawals may be limited to multiples of a certain denomination.
  • 7. Daily transaction limits
    1. Cash withdrawals may be made through automatic teller machines and cash dispensers to a daily maximum of $1,000.
    2. In addition, purchases or cash through an EFTPOS terminal are restricted to a maximum of $3,000 per day. Therefore maximum withdrawal from EFTPOS and ATM is limited to $4,000 per day.
    3. These limits may be varied from time to time, and may also be altered temporarily at any time due to any technical malfunction.
  • 8. Service
    1. The Bank will endeavour to provide the above services at all times. However, it may not be able to make the service available from time to time for reasons beyond its control.
  • 9. Cardholder's liability
    1. If the card is lost or stolen or the cardholder believes the PIN has been disclosed, TSB Bank must be advised immediately.
    2. 24 hour numbers are listed on the reverse of this brochure and are known to EFTPOS retailers.
    3. Loss or disclosure must be confirmed in writing to TSB Bank within seven days.
    4. The cardholder will not be responsible for any further unauthorised use of the card once notification of a lost/stolen card or disclosed PIN has been given. This protection will not apply if the cardholder has acted fraudulently or negligently. The cardholder will only be responsible for any actual loss to a maximum of $50 if this occurs before notification. HOWEVER this $50 limit on liability DOES NOT APPLY if:
      1. The cardholder has acted fraudulently or negligently;
      2. The cardholder has breached the Bank's Terms and Conditions; or
      3. The cardholder has contributed to the unauthorised use of the card, including (but not limited to):
        • selecting unsuitable PINs;
        • failing to reasonably safeguard card/s;
        • keeping written records of the PIN on or with the card;
        • parting with the card/s and/or disclosing PINs to any other person;
        • unreasonably delaying notification to the Bank of a lost/stolen card, or of PIN disclosure (actual or possible);
        • failing to take all reasonable steps to prevent disclosure to any person when keying in the PIN.
          The cardholder will then BE LIABLE FOR the lesser of:
        • (i) the actual loss at the time of notification; or
        • (ii) the maximum amount the cardholder would have been able to withdraw from the account between the time the card was lost/stolen and the time the cardholder notified the Bank. This is calculated in accordance with the daily transaction limit or the total credit available from the cardholder's account.
  • 10. Disputed transactions
    1. Cardholders should check all entries on bank statements. If the cardholder notices there has been a mistake, funds have been lost or there is an error in a transaction, they should immediately contact their local TSB Bank and provide the following information:
      1. Name
      2. Card number
      3. Account number(s)
      4. Date and time of transaction if possible
      5. The approximate amount of the loss or disputed transaction and such other information as may reasonably be required.
    2. The Bank will investigate the complaint and report back to the cardholder within 21 days. If more time is required the cardholder will be advised.
    3. Where it is established an error did occur, the Bank will promptly correct the error and adjust any fees or charges that may have occurred as a result.
    4. The Bank will assist the cardholder if the cardholder encounters any difficulties with another participating bank's ATM and cannot resolve these difficulties with the participating bank that owns the ATM.
    5. If, after having been notified by the Bank, the cardholder is not satisfied with the results of the investigation, the cardholder may request the matter be reviewed under the Complaints Procedures of the Bank.
    6. Brochures relating to the Complaints Procedures are on display in all branches of the Bank or on the Bank's website www.tsbbank.co.nz.
  • 11. Fees and charges
    1. Presently, no fees are associated with TSB Bank Cashflow card transactions on personal accounts, with the exception of Peak Savings, Horizon and some Revolving Credit accounts (refer to a current Account and Service fees brochure or the Bank's website; www.tsbbank.co.nz)
    2. A card replacement fee will apply.
  • 12. Additional cards
    1. If the Bank agrees, additional cards may be issued to a person nominated by the account holder. Any additional cards are deemed to be the account holder's responsibility and the Bank is entitled to debit the account holder's account on use of the card.
    2. The account holder will be liable for all transactions made by the additional card.
  • 13. Replacement
    1. Lost, stolen or damaged cards will be replaced at the cardholder's request and upon payment of any fees applicable at the time.
  • 14. Amendments of Terms and Conditions
    1. These Terms and Conditions may be altered at any time. 30 days notice will be given, however if an alteration must be made urgently in order to protect customers' accounts, or the Bank's systems, the 30 days notice need not be given.
  • 15. Termination of agreement
    1. This agreement may be terminated by the cardholder returning the card to the Bank. It may also be terminated by the Bank cancelling and retaining the card, or refusing to replace the card.
    2. The cardholder remains responsible for any transactions made up until the time of termination
  • 16. Accidental erasure of your Cashflow card
    1. Most problems with card usage are caused by ?accidental erasure?, or by retailer terminals not reading the magnetic strip properly. This can be due to both operator error (swiping the card too fast or too slowly) and worn or dirty read heads.
    2. Accidental erasure is caused by exposure of the card to a magnetic field and need only be for a brief moment.
    3. Cards damaged by accidental erasure will be replaced at the cardholder's request and upon payment of any fees applicable at the time.
    4. Cards are not affected by X-ray machines or metal detectors at airports, and cannot be wiped by an EFTPOS card reader.

Visa Debit Fees Information

Daily Limits

Maximum daily limits are based on New Zealand time. These limits do not apply to Cash Advances/Withdrawals across the counter at Banks
displaying the Visa logo or TSB Bank Branches. Overseas Banks and institutions operating ATM's may charge an additional fee to the Bank's standard
Cash Advance Fee (if applicable), and any overseas transaction will incur an Overseas Service Fee. If the maximum daily limit imposed by the overseas
Bank or institution operating the ATM is less than the Bank's limits stated above, then the overseas Bank's or institution's limit will take precedence.
Cash Withdrawals within New Zealand

$2,000

Cash Withdrawals outside New Zealand

NZD$2,000

Purchases

NZD$5,000

Microchip security

Visa cards offer an improved level of security. With microchip technology, data security and transactional safety is increased, providing greater protection against fraudulent activity.

Fees

The Overseas Service Fee is charged to your account at the time the overseas transaction is charged to your account, and appears as a separate item.
Description Charging time Amount
Visa Debit Annual fee This is charged at the time your first Visa Debit card is ordered and annually thereafter to your nominated default account. $10 per year
Card replacement fee Charged at the time a replacement card is ordered. $15 per card
Overseas Service fee* This commission charge comprises of two components; Issuer fee and Visa International Service Assessment. It is calculated as a percentage of the converted overseas transaction value 2.5% of the New Zealand Dollar value of each Overseas Card Transaction

Fees for optional services

Please refer to the Account and Service Fee Information for further fees regarding the operation of your Bank accounts.
Description Charging time Amount
Cash Withdrawal fee (overseas) This is charged on the day a Cash Withdrawal is made from an Overseas Bank or ATM. $5 per withdrawal (overseas)
Cash Withdrawal fee (NZ) This is charged on Cash Withdrawals over the counter at any non TSB Bank Branch. $2 per over the counter withdrawal (NZ)
Overseas card delivery This will be charged at the time the card is ordered. Contact Card Services for a quote

Lost/stolen Cards

Assistance within New Zealand

Phone our 24 hour toll free number, on 0800 406 406 (please be aware TSB Bank's Visa After Hours Cancellation Service is provided by a third party). To order a replacement Card, please contact TSB Bank.

Assistance outside New Zealand

Call Collect (refer to local telecommunications directory for calling instructions):

Visa International 001 1 303 967 1090

New Zealand Assistance 0064 6 968 3700

Additional information can be found at www.visa.com

Visa Debit Terms and Conditions

  • 1. Acceptance of Conditions of Use
    1. By using your Debit Card, you agree that these Conditions of Use are binding on:
      1. You as the holder of the Debit Card; and
      2. Any person whom the account is held in joint name(s) with.
  • 2. Interpretation
    1. In these Conditions of Use, unless inconsistent with the context:
      1. The singular includes the plural and vice versa;
      2. Statues and Regulations ? a reference to a Statute shall include references to Regulations made pursuant to such Statute and all Statutes or Regulations passed in substitution for such Statutes or Regulations;
      3. Headings ? clause and other headings are for ease of reference only and do not form part of a clause or affect the interpretation;
      4. Gender ? words importing one gender shall include all genders;
      5. ?person? includes an individual, a company or other body corporate, a trust and a partnership.
  • 3. Definitions
    1. Accounts means your nominated TSB accounts which can be accessed with your Card and Account means any one of them.
    2. ATM means an Automatic Teller Machine within the Bank?s approved network within New Zealand, and internationally.
    3. Bank means TSB Bank Limited, TSB Centre, 120 Devon Street East, New Plymouth an associate member of Visa.
    4. Cardholder means the holder of a Debit Card on an Account.
    5. Card Transaction means any transaction on the Account initiated with a Debit Card including (but not limited to), any of the following transactions:
      1. Recurring payments or a series of payments;
      2. Cash Withdrawals (including ATM transfers);
      3. Mail Orders, telephone orders or Internet orders or payments;
      4. EFTPOS Transactions;
      5. Electronic commerce transactions.
    6. Debit Card or Card means any form factor that can initiate a transaction, which may include, but is not limited to, an actual card, key fob, a device/application to enable a mobile phone, and is issued by the Bank under the product Visa Debit, valid for use on your Account(s) prior to the date of expiry.
    7. EFTPOS Transaction means an Electronic Funds Transfer at Point of Sale transaction by which a Merchant is paid by the electronic transfer of funds at the time of purchase.
    8. EFTPOS Terminal means the electronic device connected to an electronic banking system which permits you to use your Debit Card for a Card Transaction through an EFTPOS Transaction.
    9. Merchant means a person who accepts domestic EFTPOS and/or has signed and remains bound by a Visa Card Merchant Agreement.
    10. Overseas Card Transaction means a Card Transaction made in a currency other than New Zealand dollars or made with a Merchant in a country other than New Zealand or the Cook Islands.
    11. PIN means the Personal Identification Number which you may have selected for your Debit card which allows you access to Card Transactions through an ATM or EFTPOS terminal.
    12. Visa means Visa International Service Association.
    13. Visa Card Merchant Agreement means an agreement entered into by a Merchant with Visa governing Visa Card Transactions involving the Merchant.
  • 4. Protection of your debit card
    1. You must sign your Debit Card as soon as you receive it from the Bank.
    2. You must not allow any other person to use your Debit Card. You must take all reasonable steps to protect your Debit Card from theft or fraudulent use.
    3. Where possible, you should retain the Debit Card in your possession when performing a transaction, i.e., insert, swipe or wave the Card yourself.
    4. Your Debit Card belongs to the Bank. At the request of the Bank, you must give your Debit Card back to the Bank.
    5. You must keep the Bank advised of any change in your address so long as your Accounts remain open with the Bank.
  • 5. Your Account(s)
    1. You will need to nominate the Account(s) that you would like access to with your Card. Access is limited to a maximum of three Accounts. Access is not available on some account types, accounts with 2 to sign, or to Agents/Operators of Accounts and in any other circumstances and is entirely at the discretion of the Bank.
    2. A default account must be nominated. All Transactions where account selection is not available will be debited to your default account, for example, online, mail order, telephone, most Overseas Transactions and Contactless Transactions.
    3. The default account can not be changed while there are pending transactions i.e. Transactions authorised, but not yet charged to your default account.
  • 6. Use of your Debit card - New Zealand & Overseas
    1. You may use your Debit Card at any ATM or EFTPOS Merchant throughout New Zealand, and overseas with any Merchant, ATM or bank displaying the Visa card symbol.
    2. As long as you comply with these Conditions of Use, there are no restrictions on your access to the available balance on your Account(s) for Card Transactions. There are however minimum and maximum daily limits which apply to cash withdrawals using your Debit Card.
    3. We may refuse to accept a transaction if:
      1. you have exceeded a limit we have applied to your Card (such as a daily limit on cash withdrawals and purchases);
      2. it seems unusual compared with the way you normally use your Card and we suspect misuse (it is therefore important to advise us when travelling overseas and provide your itinerary as well as contact phone numbers if available);
      3. we reasonably consider it necessary to protect the security of your Account(s);
      4. we reasonably believe that someone else may have rights over money in your Account(s); or
      5. any other reason set out in these Conditions of Use.
    4. If your Card gives you access to an Account with a credit facility (for an example a revolving credit facility) or an account with a significant balance, failure to look after your Card and PIN could result in a subs
  • 7. Overseas Card Transactions
    1. You may use your Debit Card for Overseas Card Transactions. Each of those Card Transactions:
      1. will either first be converted from the currency in which the Card Transaction was made into US Dollars and then into New Zealand Dollars or converted directly from the currency in which the Card Transaction was made into New Zealand Dollars; and
      2. will be converted at the exchange rate selected by Visa from a range of wholesale exchange rates in effect one day prior to the date on which Visa processes the Card Transaction (which processing may occur later than the actual date of the Card Transaction); and
      3. will incur an Overseas Service Fee (as set out in the Visa Debit Fees Information).
    2. The exercise of using your Debit Card for Overseas Card Transactions:
      1. may be subject to exchange controls or other government requirements;
      2. may result in your purchases being subject to customs duties and/or taxes;
      3. may result in charges being made by third parties (for example, if you use an overseas ATM machine or Bank branch to obtain a cash withdrawal). Such charges are your responsibility and may be added to the Card Transaction amount and so be part of the amount converted in accordance with clause 7.1.
    3. You may be offered the opportunity to choose to pay for goods or services at a Merchant in a country other than New Zealand, in New Zealand dollars, or in the Merchant?s local currency, at the time of purchase. This is called Dynamic Currency Conversion and can be applied only by agreement between you and the Merchant. The rate of conversion is applied at the time the purchase is made and is determined by the Merchant and the Merchant?s bank. We have no control over the conversion rate used or margins applied.
  • 8. Cash Withdrawals and daily limits
    1. You may use your Debit Card to obtain Cash Withdrawals.
    2. There are however daily limits:
      1. for Cash Withdrawals, a maximum amount as specified in the Visa Debit Fees Information;
      2. you may use your Debit Card with your PIN overseas at ATMs displaying the Visa logo to obtain local currency within the limits and at the discretion of the Bank or institution operating the ATM.
      3. for Purchases, a maximum amount as specified in the Visa Debit Fees Information. We may at our discretion, and by giving you 14 days notice amend the maximum amount you may withdraw from any or all of your Accounts during any specified period.
    3. You may be charged a Cash Withdrawal fee for Cash Withdrawals (as set out in the Visa Debit Fees Information).
    4. If you use your Card to make withdrawals from an overseas ATM, displaying the Visa logo, different Cash Withdrawal limits may apply and they may charge you a fee. The Bank has no control over a fee or the amount being charged.
    5. The Bank accepts no liability or responsibility if you are unable to access ATMs in New Zealand or overseas or if you are unable to withdraw funds.
    6. Overseas Cash Withdrawals will be converted to New Zealand Dollars in accordance with clause 7.
  • 9. Contactless Transactions
    1. You may choose to use your Card to make Contactless Transactions in New Zealand and overseas with any Merchant or Bank displaying the Visa symbol and the paywave symbol. You can still insert or swipe your card if you prefer.
    2. In New Zealand Contactless transactions of NZ$80.00 or less may be completed without entering a PIN. A receipt will not be automatically provided, but one may be requested. Contactless Transactions in New Zealand of over NZ$80.00 will require a PIN or signature in the usual way. If you use your Card to make Contactless Transactions overseas, different limits may apply. We have no control over these limits. You will be prompted with instructions by the Contactless terminal as you proceed with a transaction.
  • 10. Pre-authorisation of Transactions
    1. A Bank or Merchant may obtain an authorisation to complete a Transaction. The purpose of an authorisation is to establish that there are no restrictions on the Card and there are sufficient funds in the Account for the Transaction.
    2. If the actual value of a Transaction is not known (e.g. petrol at pump, hotel/motel accommodation) a Bank or a Merchant may obtain an authorisation for an estimated value of the Transaction. Once authorisation is obtained, the available funds in your Account will be reduced by that authorised amount. This authorised amount will remain on your Account until a Transaction that matches the authorisation is processed, or if no matching Transaction is processed, for up to three days. This means that in some circumstances your available funds will be reduced by the amount of both the authorised estimated amount and the actual Transaction amount for a period of time. Where this overdraws your Account, normal overdraft charges will apply
  • 11. Use of a PIN
    1. You will be required to have a PIN on your Debit Card.
    2. The PIN must be a random number which will not be easily guessed by anyone else. Examples of numbers easily guessed:
      • birthday (eg. 2803) or year of birth (eg. 1978)
      • sequential or combination numbers (eg. 1234, 1111)
      • spouse or child birthday, anniversary, etc
      • one of the sets of numbers embossed on the card
      • parts of telephone/cellphone number
      • your age, twice (eg. 3838)
      • drivers licence number or expiry date
      • locker or alarm code
    3. You must safeguard your PIN. For example:
      1. do not write down your PIN;
      2. do not disclose your PIN to anyone including the Police, Bank staff, over the internet, Merchants or your family;
      3. take care to ensure no-one can see you enter your PIN at ATMs or when using EFTPOS;
      4. report the disclosure or possible disclosure of your PIN as soon as you are aware or suspect your PIN has been disclosed; and
      5. consider using a different PIN for different cards or equipment.
  • 12. Lost or stolen Debit Cards
    1. If you lose or mislay your Debit Card, or if it is stolen, or if you know that your Debit Card is in the possession of another person or Merchant, or you believe that another person has used your Debit Card or gained knowledge of your PIN, you must:
      1. If you are in New Zealand ? immediately notify the Bank and give all relevant information by phoning and advising the Bank on 0800 406 406;
      2. If you are overseas ? immediately notify the Bank?s Visa Centre in New Zealand by telephoning New Zealand 0064 6 968 3700 collect through an operator. If you are unable to contact the Bank?s Visa Centre, you must notify the nearest office of Visa International and give all the relevant information. Contact details for Visa offices can be found at www.visa.com.
    2. Upon receipt of advice of loss of your Debit Card or disclosure of the PIN, the Bank may pass on all relevant information to the Police, Visa or Merchants. If the Bank requests that you lodge a formal complaint with the Police and you choose not to do so, the Bank may decline any liability of any loss you may suffer.
    3. At your request, and on payment of the Card replacement fee charged (refer to the Visa Debit Fees Information) at that time, the Bank will replace any lost, stolen or damaged Debit Card. Replacement cards sent overseas will incur a courier charge which will be debited against your default account.
    4. These Conditions of Use will apply to your use of any replacement Debit Card as if it were your original Debit Card.
  • 13. Disputes with Merchants
    1. The Bank has no liability to you for:
      1. any refusal by a Merchant to accept your Debit Card; or
      2. any defect or deficiency in the provision of goods or services acquired through the use of your Debit Card.
    2. Any such claim or dispute with a transaction will not relieve you of its liability, and must be resolved by you direct with the Merchant. You should, therefore exercise care and be aware of the risks of using your Debit Card to pay for goods or services in advance of receiving them. You should consider the standing of the Merchant you are doing business with.
  • 14. Unauthorised/disputed transactions
    1. You are responsible for checking your transactions either on Internet Banking, paper statements or any other method provided by the Bank. If you receive paper statements and the statement frequency is greater than monthly, you run the risk of being unable to dispute a transaction if it has past the Visa operating rules timeframe.
    2. Transactions performed at domestic EFTPOS where the ?cheque? or ?savings? options are used or at domestic ATM?s are not able to be disputed.
    3. For transactions performed in other ways than described in 14.2, if you consider that:
      1. Details of a Card Transaction have been incorrectly recorded to your Account; or
      2. A charge has been made to your Account which is not valid or an authorised charge on your Account; YOU MUST notify the Bank in writing within 60 days of the transaction, giving full particulars of the alleged error. Failure to do so within the time limit will mean the Bank cannot reverse the Card Transaction.
    4. There are limited circumstances under which the Bank can reverse a Card Transaction which will be subject to the rules of Visa. For example, the Bank cannot reverse a Card Transaction where there is a dispute with the Merchant as to the quality of goods or services or if you have changed your mind about the goods or services. Within 30 days of receiving your notice disputing a Card Transaction, the Bank will acknowledge that it has received your notice and it will report back to you with the result of its investigation into the disputed Card Transaction as soon as practical. If the Bank agrees with you that an error has occurred, the Bank will correct your Account and reimburse any fees or charges levied as a result. If you are not satisfied with the Bank?s findings, you may request the matter be reviewed under the Bank?s Complaints Procedures. Brochures relating to the Complaints Procedures are on display in all branches of the Bank or on the Bank?s website www.tsbbank.co.nz.
    5. While a transaction is in dispute and is being investigated, the value of the disputed transaction will remain debited against your account, until the dispute is resolved.
  • 15. Liability for Card Transactions, fees and costs
    1. You are responsible for all transactions made with your Debit Card, even if the account(s) is/are closed and/or your Card is cancelled, whether by us or you. You must also pay:
      1. any fees and costs arising from the issue or use of your Debit Card or any replacement Debit Card;
      2. any Stamp Duty or other statutory duty, levy or charge incurred in relation to Card Transactions;
      3. any direct costs incurred by the Bank in investigating an unauthorised/disputed transaction pursuant to clause 14, if that unauthorised/disputed transaction, after investigation by the Bank, is regarded by the Bank as being a valid transaction.
    2. Where a Transaction overdraws any Account, Overdraft fees and interest will apply. Details of the current Overdraft fees and interest may be obtained from any branch of the Bank or the Bank?s website www.tsbbank.co.nz.
    3. The Bank can not stop a transaction once you have initiated it.
    4. If you have set up a recurring payment, the Bank can not cancel it. You must give the Merchant 15 days notice in writing of cancellation prior to the next scheduled transaction date. Until you cancel the authority, the merchant is entitled to request us to debit your account and we are obliged to process the request.
  • 16. Liability of Cardholder for unauthorised transactions
    1. If you notify the Bank immediately when any of the events listed below have occurred, you will have no liability to the Bank arising from any unauthorised use of your Debit Card or recording or disclosure of your PIN subsequent to that notification, other than as provided for in clauses 17.2 and 17.3. The events referred to are:
      1. you lose or mislay your Debit Card; or
      2. your Debit Card is stolen; or
      3. you know that your Debit Card is in the possession of another person or a Merchant; or
      4. you believe that another person has used your Debit Card or gained knowledge of your PIN.
  • 17. Liability for loss
    1. You will not incur any liability if you have not:
      1. acted fraudulently or negligently; or
      2. breached these Conditions of Use; or
      3. contributed to or caused losses from the unauthorised use of your Debit Card or recording or disclosure of your PIN;
    2. If any loss arises from the unauthorised use of your Debit Card which you caused or contributed to (as set out in clause 17.4) your liability will be the lesser of:
      1. the actual loss when the Bank was notified; and
      2. the maximum amount that you would have been entitled to withdraw from the Account(s) between the time the Card was lost or stolen and the time we were notified.
    3. You are liable to the Bank for all losses arising from the unauthorised use of your Debit card or PIN which results from your fraud or negligence.
    4. You will be treated as having caused or contributed to the loss arising from the unauthorised use of your Debit Card if, for example (but not limited to), you:
      1. fail to immediately sign your Debit Card upon Receipt from the Bank; or
      2. select unsuitable PINS (see clause 11.2); or
      3. fail to reasonably safeguard your Debit Card; or
      4. keep written records of your PIN(s); or
      5. part with your Debit Card and/or disclose PINs to any other person; or
      6. fail to take all reasonable steps to prevent disclosure to any person while keying in your PIN; or
      7. unreasonably delay notification to the Bank of the loss or theft of your Debit Card, or of the actual or possible disclosure to any other person of your PIN. The amount of the potential liability is set out in clause 17.2.
    5. You will not be liable to the Bank for any loss suffered by the Bank caused by:
      1. fraudulent or negligent conduct by employees or agents of the Bank or parties involved in the provision of electronic banking services;
      2. faults that occur in the machines, cards or systems used, unless the faults are obvious or advised by message or notice on display;
      3. unauthorised transactions occurring before you have received your Debit Card;
      4. any other unauthorised transaction where it is clear that you could not have contributed to the loss.
  • 18. The Bank's obligations to you
    1. The Bank acknowledges that regardless of what is set out in these Conditions of Use, the Bank is bound by the guarantees as to service imposed by the Consumer Guarantees Act 1993.
    2. If, however, you use your Debit Card or any other financial service provided by us for the purposes of a business, the provisions of the Consumer Guarantees Act 1993 will not apply.
    3. The Bank is liable to you for any direct losses which you may suffer as a consequence of the failure of your Debit Card, or any ATM belonging to the Bank or associated electronic systems which are attributed to the Bank's gross negligence or wilful default or the fraudulent conduct by employees or agents of the Bank. The Bank has no liability for consequential loss which you may suffer in those circumstances.
  • 19. Fees
    1. The Bank may from time to time debit your Account with: (a) fees relating to the issue and use of your Debit Card and any related service at the rate charged by the Bank; and (b) any Stamp Duty, or other statutory duty, levy or charge payable on Card Transactions.
    2. The Visa Debit Access Fee will not be refunded if the Card or Card Account(s) is/are cancelled/closed by you or the bank.
    3. Details of the current fees may be obtained from any branch of the Bank or the Bank's website www.tsbbank.co.nz.
  • 20. Cancellation of your Debit Card
    1. The Bank may at any time without notice cancel your Debit Card. Following cancellation of your Debit Card or closure of your Account(s), you must not use your Debit Card and you must return it to the Bank.
    2. You may also cancel your Debit Card. To do this, you must notify the Bank in writing of the cancellation and return your Debit Card to the Bank (cut in half including through the chip on the Card).
    3. Following cancellation of a Debit card or closure of your Account(s), you have a continuing liability for:
      1. when notified to you, any amount debited to your Account(s) in respect of any Card Transaction incurred which had not been charged to your Account(s) at the date of cancellation or closure; and
      2. any recurring Transactions subsequently debited to your Account(s). It is your responsibility to contact the initiator of any Transactions that are regularly billed to your Account(s) and advise that your Account(s) and/or Card are closed/ cancelled; and
      3. any fees, interest and charges payable in terms of clause 15
  • 21. Changes to Conditions of Use, fees and charges
    1. The Bank may vary any or all of these Conditions of Use and Fees and Charges at any time. When informing you of these variations, the Bank will:
      1. give at least 14 days' notice of such variation; and
      2. communicate such changes, either by direct communication or by display in all the Bank's branches and also by notice in the media (including public notices) and on the Bank's website www.tsbbank.co.nz. No prior notice of a variation will be given where the variation is to protect you or the security of the Debit Card system.
    2. The Bank may at any time add to, modify or withdraw any or all of the services available in respect of your Debit Card.
    3. These Conditions of Use remain in force after a card is cancelled, an account is closed or an account is no longer linked to a Card, and until all outstanding amounts are paid, whether charged before or after the cancellation of your card or closure of your account.
  • 22. Additional benefits
    1. The Bank may from time to time offer additional benefits to the Cardholder. Details of such additional benefits will be advised when the additional benefits are made available.
  • 23. Security of your Debit Card

    Using your Visa Debit card

    1. The card should be signed immediately it is received and must be used only by the cardholder.
    2. Do not give your card to anyone, let anyone else use your card, or disclose your PIN (including to Police, Bank staff, over the internet or your family). Even during an investigation by Bank staff or Police, your PIN is not required.
    3. Make sure no one can see you enter your PIN at ATMs or when using EFTPOS.
    4. Take care of your card. Do not leave your card in an unattended wallet, purse, vehicle or anywhere a thief could remove a card without being noticed.
    5. When using your card, never let it out of your sight, and where possible, you should retain the card in your possession when performing a transaction, i.e., insert, swipe or wave the card yourself, instead of handing to the merchant to perform for you. Tell us if you change your address, to ensure statements and other correspondence is received.
    6. Report loss or theft of your card as soon as you are aware of it.