Transaction Accounts

A transaction account offers one of the most simple and straightforward ways of managing your daily finances. Most people in New Zealand rely on transaction accounts to receive income (wages, salary) or to make essential payments such as the rent or mortgage. Nowadays most accounts offer an online function, allowing you to view your transaction history and payments from the computer. There are many accounts to choose from so it is wise to think about what you need. Do you just need a simple place to receive payments or will you be relying on the account to deal with all of your household finances? Think about what charges and penalties are involved, as these can vary. Please be sure to read the terms and conditions before you apply for an account.

If you wish to speak to someone: Contact Us or Enquiry Line: +64 4 8319523

COMPANY	ACCOUNT ACCOUNT Account name	TYPE TYPE Account type	INTEREST APY INTEREST APY Annual Percentage Yield	INTEREST GROSS INTEREST GROSS Gross interest is the annual rate of interest which is paid without the deduction of lower rate tax to eligible individuals and certain organisations	PAID PAID How often interest is paid on account	ACCESS ACCESS How account can be accessed	OD RATE OD RATE Cost of overdraft	BANKING CHARGES BANKING CHARGES Additional banking charges	SERVICES CHARGES SERVICES CHARGES Charges for extra services	FEATURES FEATURES Account features	MORE INFO
Kiwi Bank Now Account	Transaction Account	Transaction Account	0.00% p.a.	0.00% p.a.	Monthly	Online, Branch, Phone	Varies	$20 Overdraft Fee	$5 per month	Features Free Banking: Debit Card: Cheque Guarantee_Card: Standing Orders: Direct Debit: Overdraft Facility: Account Manager: Apply for an overdraft-$15 per application.
Kiwi Bank Now Account	Now account offers EFTPOS and ATM access, phone and internet banking and the full range of services you'd expect in a day to day account. Plus you get access to a cheque book and you can choose exactly how you recieve your monthly statements. You can even apply for an overdraft! DETAIL INFORMATION >>										Services Services SMS banking service available. Advantages Advantages 1. Your choice of fee plans, to match the way you bank 2. You can get a Visa Debit Card, which works like a standard ATM/EFTPOS card but can be used online, over the phone, for mail order and overseas 3. Phone, internet and mobile banking 4. Ability to apply for an overdraft 5. Access to a cheque book 6. Smart services such as PayStream, Sweep, Alerts and Mobile top-up 7. Choice of statement options - paper, email or online 8. Use with heaps! our free personal finance software to help track your spending. Disadvantages Disadvantages 1. $5 monthly fee. 2. First five balance enquiries per month free, then $0.50 per balance enquiry 3. An overdraft application will cost you $15 per application.

If you wish to speak to someone: Contact Us or Enquiry Line: +64 4 8319523

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Compare Transaction Accounts

Mange your daily finances with ease with the right Transaction Account

What is a Transaction Account?

Transaction accounts are an essential part of many people’s financial lives as most people in South Africa will have one. The reasons why transaction accounts are so popular are because they provide an instantly accessible place for your money. They help you manage your money on a day to day basis.

The pros of Transaction Accounts

Transaction accounts are usually where your income gets paid into. You can also pay people from this account, receive payments and take out money from ATMs. You will be able to set up standing orders and direct debits from a transaction account for regular payments so if you have to pay bills you will not have to worry about missing payment deadlines.

Most accounts will come with a chequebook and a card that you can use to withdraw money and make payments easily. Some transaction accounts also offer interest on the money you have on the account, although the rates are often lower than on a savings account.

Overdraft facilities

Some transaction accounts come with an overdraft facility which is essentially borrowing money from the account provider. Some accounts may offer overdrafts on an interest free basis. However, you should watch out for charges as some banks may charge you for this facility and rates can vary. There can be hefty fees for exceeding your overdraft.

The benefits of online banking

With a transaction account you can get online banking which is a great feature. Internet banking is easy to use, secure and convenient. You do not have to travel to your nearest bank for many basic services and you can access your account 24 hours a day. You can also access your statements instantly, make transfers quickly and schedule monthly payments to be made out of your account automatically.

Choosing the right account for you

The right account will depend on you and your requirements. Many accounts offer incentives with their accounts such as free gifts and vouchers but you need to make sure that despite these are you still getting a good deal. Watch out for any hidden charges with some account providers and always read the terms and conditions thoroughly.

Use the table above to compare different transaction account providers.