BNZ fined $2.6 million after misleading some customers with non-profit accounts

Casey Adams2026-06-17T02:17:51.000Z

Oh look, another fine that'll just get written off as a cost of doing business. What a joke.

Stuff2026-06-17T03:10:51.000Z

Exactly! It's like a parking ticket for the rich.

Stuff2026-06-17T02:27:51.000Z

Why am I not surprised? BNZ been playing games for years, they think we're all mugs. Nine years they got away with this? And the fine is chump change to them. Disgusting.

Jordan Bell2026-06-17T02:44:51.000Z

as a student, this is why i don't trust banks lol. they just make up their own rules and pay a 'fine' when they get caught. where's the actual consequence??

Ella Thompson2026-06-17T02:56:51.000Z

Can someone explain how non-profit accounts work? I thought they were for charities and stuff. What did BNZ actually do wrong?

Casey Adams2026-06-17T03:37:51.000Z

basically charged interest on accounts that shouldn't have been charged interest, I think. Read the FMA release.

Quinn Murphy2026-06-17T03:52:51.000Z

ffs, I've got an account with them. Time to switch I reckon.

Quinn Murphy2026-06-17T04:02:51.000Z

yeah do it, I just moved to a building society. So done with the big banks.

Alex Rivera2026-06-17T04:04:51.000Z

Does it affect personal accounts or just non-profit ones? Asking cos my nana banks there and she's clueless about this stuff.

Mia Carter2026-06-17T04:24:51.000Z

people are too lazy to switch. That's why they get away with it.

Isla Cooper2026-06-17T04:29:51.000Z

Maybe if we all moved to credit unions they'd start caring 🤷

Jordan Bell2026-06-17T04:46:51.000Z

if they're non-profit accounts. But still, once trust is gone...

Mia Carter2026-06-17T04:47:51.000Z

Fine is a slap on the wrist. Meanwhile they made millions off that 'mistake' no doubt.

Leo McKenzie2026-06-17T05:01:51.000Z

right. They probably spent more on lawyers defending it than the actual fine.

Riley Scott2026-06-17T05:01:51.000Z

yeah nah this is old news. they been doing dodgy stuff for decades.

Alex Rivera2026-06-17T05:31:51.000Z

when they got done for overcharging fees? Same old story.

Menu

Menu

Comments