The information provided will be especially helpful for vulnerable consumers
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The New Zealand Banker’s Association (NZBA) has launched a new Smarter Banking guide for Kiwi customers.
NZBA said the guide provides practical information for customers about their everyday banking. It also complements the recently revised Code of Banking Practice, which sets out five high-level promises that New Zealand banks make to their customers.
“The guide covers things like the easiest ways to bank and getting the right products and services to suit your individual needs,” NZBA deputy chief executive Antony Buick-Constable said. “It also includes tips on how to set up and cancel recurring payments, avoid bank fees, and keep yourself safe from fraud.”
NZBA noted some of the information will be especially useful for vulnerable consumers, who are the focus of the Financial Inclusion Industry Forum that will be held in Auckland this week.
The Smarter Banking guide includes information on:
- What you can expect from your bank;
- Easiest ways to bank;
- Opening accounts and applying for credit;
- Setting up and cancelling direct debits;
- Choosing and managing your credit card;
- How to avoid bank fees;
- Fraud safety and cybersecurity;
- Protecting yourself from financial abuse;
- Financial hardship - how your bank can help;
- Switching banks;
- How to make a complaint.
“We hope the guide will appeal widely to bank customers,” Buick-Constable stated.
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