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BNZ (Bank of New Zealand) - Source: ONE News
Good news for Bank of New Zealand customers as the bank announces it will stop charging honour fees, dishonour fees and unpaid bill fees on transaction and savings accounts.
The bank on Wednesday said it will drop its $35 dishonour fee and $20 honour fee as of September 1 on both business and personal accounts.
These fees are charged when there are not enough funds to make a payment or when an account is overdrawn without an overdraft facility in place.
"Fees generate a large number of customer complaints every year and are a source of frustration for our customers and our staff," says BNZ CEO Andrew Thorburn.
He says the move is a strong business decision, describing it as a win-win for both staff and customers.
Thorburn says the fees will not be recouped elsewhere.
