Kiwibank warned for overcharging certain joint accounts

(Image: NZME)

Wed, 06 Aug 2025

Kiwibank has been warned by the Financial Markets Authority (FMA) for failing to apply fee waivers to certain joint account customers.Between approximately March 2005 to November 2024, different versions of Kiwibank’s Fees and Limits brochures represented that customers would not be charged transaction fees on certain accounts if they were under 18 or 19 years of age or over 65. However, since at least 2011 Kiwibank charged account fees on joint accounts where the secondary account holder met the age-based criteria, but the primary...

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