Online Banking In NZ: How To Never Miss A Payment Again

Date Nov 26, 2020
Blog category Mobile Phone
By Tina M.
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Online banking in New Zealand has gotten more convenient in this pandemic. You can get payments, do money transfers, and pay off your bills and other expenses with just a few clicks. Because of this popularity, some regional banks decided to stop operations as Kiwis switched to online banking for their transactions. The good news is, six (6) major NZ banks have partnered up to spearhead regional banking hubs across the country in efforts to sustain banking services in several remote and rural areas. 

Read more here: BNZ Shuts 38 Branches Across New Zealand 

Top Mobile Banking Apps in NZ

Not all banks in New Zealand offer internet banking, but you can find the best ones that are accessible on the web and your mobiles, too. Below are the leading internet banking available for iOS and Android users in NZ. 

  1. ANZ goMoney NZ
  2. Kiwibank Mobile Banking
  3. ASB Mobile Banking
  4. Westpac One (NZ) Mobile Banking 
  5. BNZ Mobile

Source: SimilarWeb

These mobile banking apps have unique features to offer from money transfers, account customisation, and up to data-saving features, something that’s exclusive with Westpac One Mobile Banking. Here are some things you need to check with your online banking app to make sure you never miss a payment again:

  • Banks supported for online fund transfers
  • Contactless payment options for deliveries, and for dining and shopping
  • The option to set up and manage automatic payments on the app
  • Partner merchants with easy installment plans
  • Partner utility providers

Never miss an update! Find the right mobile plan for you, right here at CompareBear!

Popular Payment Methods For Bills and Utilities 

The old way of visiting nearby banks for every transaction may be on hold for a while. Kiwis now rely on these payment methods and online channels to pay off their bills, credit cards, loans, insurance, and other utilities.

EFTPOS

EFTPOS is short for Electronic Funds Transfer at Point Of Sale that can be utilised to pay for groceries, goods and other services. EFTPOS assists in transferring money from your bank account to a merchant's bank account, for instance, a coffee shop. You can use an EFTPOS machine only if you acquire an EFTPOS card, debit or credit card. 

Debit and credit card

Many shoppers use their debit and credit card for most of their online purchases. Along with your activated bank account is your debit card. You can likewise apply for a credit card which you can use for low to zero interest bargains that aren’t available when using your debit.

One way to make sure you don't miss any due dates is to set up auto payments with your online payment facility, or direct debit with your bank. This is ideal for the likes of mortgages or other installments, where you have regular monthly payments and with the same amount.

E-wallets 

Another online payment method is through e-wallets. Masterpass and Paypal are e-wallets where users can transfer money within their registered accounts. Online stores have Paypal options where payments are seamlessly delivered with a few clicks. You can request for money, send an invoice, get paid, as well as safeguard your funds in this “virtual wallet”. You can likewise transfer money from your other bank account into your e-wallet to pay off bills right away.  

Prepaid Card 

Applying for a prepaid card for online purchases is popular in most people in New Zealand. paysafecard is the best example where users can buy online using their prepaid card. Simply get a paysafecard PIN at any retail outlet across New Zealand in amounts ranging from 10, 20, 50, 100 and up to 200 NZD. Westpac also offers prepaid cards without requiring to open a Westpac bank account. 

With the pandemic being a huge catalyst, cashless transactions have just become more popular. You'll only need to see what app or online payment facility will work best for you. To find a reliable mobile data anywhere you go, find the right mobile plan here at CompareBear!

About the author
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Tina M.

Tina M. is a content writer and an aspiring law practitioner. She mainly writes about real estate, finance, and investing. Ever the creative, she loves painting, home renovating, and getting meme ideas from reality TV.

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