Latest news with #WestpacOne
Scoop
7 hours ago
- Business
- Scoop
Westpac NZ Cuts Key Home Loan Rates
Press Release – Westpac With record numbers of home loans currently rolling off fixed rates, these changes show we are committed to offering compelling rates to benefit existing customers and attract new ones, Westpac NZ General Manager of Product, Sustainability and … Westpac NZ is reducing its 6-month and 1-year home loan rates, giving it joint or outright leading advertised rates on most terms among the five largest banks. Westpac NZ General Manager of Product, Sustainability and Marketing, Sarah Hearn, says the changes will give customers the confidence that they can get competitive home loan rates across both short and long terms at Westpac. 'We're working hard to provide customers a range of great home loan rates that will provide value and meet the needs of those wishing to fix their loans across a range of different terms,' Ms Hearn says. Westpac's new 6-month 5.29% p.a. and 1-year 4.89% p.a. advertised special rates, effective Friday 13 June, are the joint lowest advertised rates available from the five main banks (based on advertised rates as at 3pm today). The bank's new 4.99% p.a. advertised special 3-year rate remains the outright lowest among the five main banks, while its advertised special 4-year and 5-year terms are joint or outright lowest at 5.39% p.a (based on advertised rates as at 3pm today). 'With record numbers of home loans currently rolling off fixed rates, these changes show we are committed to offering compelling rates to benefit existing customers and attract new ones,' Ms Hearn says. 'We're also committed to offering customers a great experience and making it as easy as we can for them to fix their loans. New functionality in our Westpac One app that allows eligible customers to move from a floating rate to a fixed rate is proving very popular.' Although Westpac is also trimming some term investment rates, it is supporting savers by retaining leading and joint leading rates across a range of terms (based on advertised rates as at 3pm today). Fixed Home Loan rates – Special (effective June 13 2025) Term New Rate Change 6 months 5.29% p.a. -0.20% 1 year 4.89% p.a. -0.06% 18 months 4.95% p.a. No Change 2 years 4.95% p.a. No Change 3 years 4.99% p.a. +0.04% 4 years 5.39% p.a. No Change 5 years 5.39% p.a. No Change Fixed Home Loan rates – Standard (effective June 13 2025) Term New Rate Change 6 months 5.89% p.a. -0.20% 1 year 5.49% p.a. -0.06% 18 months 5.55% p.a. No Change 2 years 5.55% p.a. No Change 3 years 5.59% p.a. +0.04% 4 years 5.99% p.a. No Change 5 years 5.99% p.a. No Change Interest rates are subject to change without notice. Westpac NZ's lending and eligibility criteria, and terms and conditions apply. A low equity margin may apply. For more information please go to Term Deposit & Term PIE rates (effective June 13 2025) Term Interest Frequency New Rate Change 30 days At Maturity 2.20% p.a. No change 60 days At Maturity 2.55% p.a. No change 90 days At Maturity 3.55% p.a. -0.05% 4 months At Maturity 3.50% p.a. -0.05% 5 months At Maturity 3.75% p.a. -0.05% 6 months At Maturity, Monthly or Compounding 3.90% p.a. No change 8 months At Maturity, Monthly or Compounding 3.90% p.a. -0.10% 9 months At Maturity, Monthly or Compounding 3.85% p.a. -0.05% 12 months At Maturity, Monthly or Compounding 3.80% p.a. No change 18 months At Maturity, Monthly or Compounding 3.90% p.a. No change 2 years At Maturity, Monthly or Compounding 4.00% p.a. No change 3 years At Maturity, Monthly or Compounding 4.10% p.a. No change 4 years At Maturity, Monthly or Compounding 4.10% p.a. No change 5 years At Maturity, Monthly or Compounding 4.10% p.a. No change Rates are subject to change without notice. Minimum $5,000 deposit. Rates are available for Retail and Business Banking customers holding up to $5,000,000 total deposits, either solely or jointly with Westpac NZ (including PIE investments). For rates applicable to amounts in excess of $5,000,000, please contact us. Rates are not available to Financial Institutions. Other T&Cs apply, see for details and a copy of the relevant Term Sheet. Compounding interest: For terms six months or longer, interest can be compounded quarterly. Investments made in the Westpac Term PIE Fund ('Fund') do not represent bank deposits or liabilities of Westpac Banking Corporation ABN 33 007 457 141, Westpac New Zealand Limited ('Westpac NZ') or any other member of the Westpac group of companies. They are subject to investment and other risks, including possible delays in payment of withdrawal amounts in some circumstances, and loss of investment value, including principal invested. None of BT Funds Management (NZ) Limited (as manager), any member of the Westpac group of companies, Trustees Executors Limited (as trustee), or any director or nominee of any of those entities guarantees the Fund's performance, returns or repayment of capital.
Scoop
19 hours ago
- Business
- Scoop
Westpac NZ And Fidelity Life Launch New Digital Guide To Make Life Insurance Easier
Press Release – Westpac New Zealand Westpac customers can access the LifeProtect Guide securely through the Westpac One app. After answering simple questions about their income, lifestyle, employment, and personal priorities, theyll receive tailored recommendations on the types … Westpac NZ and Fidelity Life have launched a new LifeProtect Guide online tool to help New Zealanders save time and better understand what's important to them when applying for life and income protection insurance. Westpac customers can access the LifeProtect Guide securely through the Westpac One app. After answering simple questions about their income, lifestyle, employment, and personal priorities, they'll receive tailored recommendations on the types and levels of cover that best suit their circumstances. They can then adjust cover levels to see how changes affect their premiums. 'We know New Zealanders can be uncomfortable talking about protecting their income and life,' says Sarah Hearn, Westpac NZ GM Product, Sustainability and Marketing. 'The LifeProtect Guide helps you to easily navigate that process – either with one of our bankers or from the comfort of your own home. The tool is intuitive and secure, giving people the confidence to make informed decisions about protecting what's important to them.' The modular nature of the LifeProtect product, underwritten by Fidelity Life, allows customers to choose any combination of Life Insurance; Trauma Cover; Income Protection and Permanent Disability insurance. Bronwyn Kirwan, Fidelity Life's Chief Commercial Officer, says the LifeProtect product and guide have been designed to make the process of thinking about and applying for life and income protection insurance as easy as possible. 'Recent Financial Services Council research* indicates that four out of five New Zealanders haven't insured their income against sickness or disability. The LifeProtect Guide is intended to make it easier for customers to work out what's right for them when it comes to protecting the things that are most important,' Ms Kirwan says. 'The guide also allows them to determine what level of cover they're comfortable with then move straight into an online application process, with no need to repeat any of the information already provided.' While almost all New Zealanders insure their cars, for most people, losing their income for a period of time would have a far greater impact on their goals and lifestyle. 'We don't like to think about accidents or illnesses impacting us or those close to us, but the reality is these things can happen. So planning for the future, including how you'd manage if the unthinkable were to happen, is really important,' Ms Hearn says. Westpac's new LifeProtect advertising campaign contrasts how much people are insuring their homes, cars and possessions for with their comparative lack of life or income protection insurance. 'We want to kickstart those conversations or thought processes about how you're prioritising what's important to you,' Ms Hearn says.
Scoop
20 hours ago
- Business
- Scoop
Westpac NZ And Fidelity Life Launch New Digital Guide To Make Life Insurance Easier
Westpac NZ and Fidelity Life have launched a new LifeProtect Guide online tool to help New Zealanders save time and better understand what's important to them when applying for life and income protection insurance. Westpac customers can access the LifeProtect Guide securely through the Westpac One app. After answering simple questions about their income, lifestyle, employment, and personal priorities, they'll receive tailored recommendations on the types and levels of cover that best suit their circumstances. They can then adjust cover levels to see how changes affect their premiums. 'We know New Zealanders can be uncomfortable talking about protecting their income and life,' says Sarah Hearn, Westpac NZ GM Product, Sustainability and Marketing. 'The LifeProtect Guide helps you to easily navigate that process – either with one of our bankers or from the comfort of your own home. The tool is intuitive and secure, giving people the confidence to make informed decisions about protecting what's important to them.' The modular nature of the LifeProtect product, underwritten by Fidelity Life, allows customers to choose any combination of Life Insurance; Trauma Cover; Income Protection and Permanent Disability insurance. Bronwyn Kirwan, Fidelity Life's Chief Commercial Officer, says the LifeProtect product and guide have been designed to make the process of thinking about and applying for life and income protection insurance as easy as possible. 'Recent Financial Services Council research* indicates that four out of five New Zealanders haven't insured their income against sickness or disability. The LifeProtect Guide is intended to make it easier for customers to work out what's right for them when it comes to protecting the things that are most important,' Ms Kirwan says. 'The guide also allows them to determine what level of cover they're comfortable with then move straight into an online application process, with no need to repeat any of the information already provided.' While almost all New Zealanders insure their cars, for most people, losing their income for a period of time would have a far greater impact on their goals and lifestyle. 'We don't like to think about accidents or illnesses impacting us or those close to us, but the reality is these things can happen. So planning for the future, including how you'd manage if the unthinkable were to happen, is really important,' Ms Hearn says. Westpac's new LifeProtect advertising campaign contrasts how much people are insuring their homes, cars and possessions for with their comparative lack of life or income protection insurance. 'We want to kickstart those conversations or thought processes about how you're prioritising what's important to you,' Ms Hearn says.
Time of India
01-05-2025
- Business
- Time of India
Westpac New Zealand online banking outage leaves customers frustrated, outraged
A technical glitch brought down the online services of Westpac Banking Corporation in New Zealand on Thursday (May 1), leaving thousands of customers in the lurch. The problem, however, did not affect card services, ATMs, and scheduled payments. #Pahalgam Terrorist Attack A Chinese shadow falls on Pahalgam terror attack case probe How India can use water to pressure Pakistan Buzzkill: How India can dissolve the Pakistan problem, not just swat it Westpac One browser as well the iOS and Android app users were at the receiving end of the online glitch. Many complained that they were unable to transact, transfer money, pay bills, or access certain other online services. Some of them took to the social media to vent their ire. Westpac New Zealand issued an apology and assed that its tech teams were working on brining the affected services back online. 'We apologise for the inconvenience, our tech teams are looking into this with urgency.' 5 5 Next Stay Playback speed 1x Normal Back 0.25x 0.5x 1x Normal 1.5x 2x 5 5 / Skip Ads by by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo Nearly two hours after the initial reports, Westpac announced the matter was resolved. 'Westpac One has been restored. We sincerely apologise for the inconvenience,' the bank stated on its website and social media. One customer reported being unable to purchase groceries due to the inability to transfer money. Another customer said they were annoyed that it was happening. Live Events 'When are you going to start giving money back to customers for being so inconvenient? Less than six weeks ago your app was down,' one customer posted. Another customer shared their difficulty, stating, 'I can't do my groceries because I can't transfer my money.' Some customers reported being unable to pay for petrol or top up Hop cards. One customer expressed frustration with the frequency of such issues. 'A text would have been great so people aren't stressing. I was literally trying to do a transfer but couldn't get in,' one person said on Facebook. Another poster on X (formerly Twitter), "i'm so fed up with westpac im tempted to switch banks this is getting ridiculous (sic)." Another customer shared, 'This happens at least once a week, I have bills to pay and can't access my account!!!!!' Another customer lamented, 'Sucks Much! Can't even transfer funds to Gas my Car this morning.' Downdetector recorded a peak of 581 user reports regarding the outage. Issues were initially reported around 8:30 am New Zealand time.
NZ Herald
30-04-2025
- Business
- NZ Herald
Westpac online banking suffers glitch, apologises after customers left frustrated
'We apologise for the inconvenience, our tech teams are looking into this with urgency.' Westpac One was unavailable for both browser and app (iOS and Android) users. However, the bank said card services and ATMs were unaffected and scheduled payments were working as normal. The technical glitch left customers frustrated that they could not complete online transactions. At least one customer was unable to pay for petrol to get to work. 'A text would have been great so people aren't stressing. I was literally trying to do a transfer but couldn't get in,' one person said on Facebook. Another said their daughter was trying to top up a Hop card but couldn't. 'This happens at least once a week, I have bills to pay and can't access my account!!!!!,' another said. Others might be a little late for work: 'Sucks Much! Can't even transfer funds to Gas my Car this morning.' A peak of 581 people had reported an outage on Downdetector.
