Extra overdrafts, home loan reviews for customers under pressure
BNZ has activated an emergency support package for customers impacted by the latest severe weather, initially covering Northland, Hauraki, Bay of Plenty, and Thames-Coromandel – all currently under states of emergency. The bank says it will extend the measures to any new regions that formally declare emergencies.
For homeowners and business clients, the bank is offering:
- Home lending reviews on a case-by-case basis for affected borrowers
- Temporary personal overdrafts to bridge the gap while insurance payouts are processed (standard interest rates and credit criteria apply)
- Temporary overdrafts up to $10,000 for small business customers, with no application fee (standard rates and credit criteria apply)
- Temporary overdrafts up to $100,000 for agri, business and commercial customers, also with no application fee (standard rates and credit criteria apply)
“We understand that some of our customers may be facing unexpected challenges to their homes, businesses, and communities as a result of the very heavy rain,” said Anna Flower, executive of personal and business banking.
“We are offering practical support to help relieve some of the pressure during this time, so people can focus on the clean-up and recovery.
“We also have a range of other options available, especially for customers who are facing hardship, so I encourage people to get in touch so we can see how we can help.”
The BNZ package comes as severe weather events play an increasingly prominent role in New Zealand’s climate risk profile, with successive floods and storms in recent years highlighting how exposed some households and small businesses are to cash‑flow pressure while they wait on insurance payouts.
Whitianga branch shuts temporarily, digital channels stay open
BNZ has temporarily closed its Whitianga branch because of the weather event, although ATM services there remain available.
“The safety of our customers and people is our number one priority, so we’ve made the decision to close our Whitianga branch temporarily,” Flower said. “Customers in Whitianga can continue to do their banking online, via phone banking, or through our BNZ app.”
Business and agribusiness customers are being directed to contact their BNZ partner to discuss support options. Small business owners can call 0800 BNZSME, while personal banking customers can access assistance via BNZ’s digital platforms or by calling 0800 ASKBNZ.
BNZ PremierCare Insurance customers needing to claim can call IAG NZ on 0800 248 888 or submit an online claim at https://iagnz.custhelp.com/app/bnz.
Stay informed with the latest housing market trends and mortgage insights — subscribe to our free daily newsletter.
