New Banking System Q&A
NZCU South is proud to announce your new banking system will go live on Easter Monday, 1 April 2018.
We have compiled a list of questions and answers which will help you understand how the upgrade will affect you.
If you have any questions please contact us on 0800 696 636.
Does the way I use my card change?
If you are currently selecting ‘SAV’ you will now need to select ‘CHQ’. For those members who have access to two different accounts with your Accessard or Accesdebit Card the CHQ/SAV options for you will not change.
Can I expect any disruption during the upgrade?
We are currently planning to go live with the new system over Easter weekend, 30 March – 01 April 2018. From midnight Friday, 30 March until Monday morning, 2 April NZCU South members will not have access to mobile banking, internet banking and phone banking. Keep an eye on our website and Facebook page as we will be updating these once we get closer to going live. We expect EFTPOS and ATMs to be up and running throughout the entire process. As a precaution we recommend that you withdraw cash out before midnight Friday, 30 March.
How do I transfer money during the upgrade?
We encourage you to ensure you have transferred to your Everyday account any extra funds you require for the Easter weekend before midnight on Good Friday as you will not be able to access your account to make any transfers until Easter Monday. We apologise in advance for any disruption this may cause you.
What change can I expect when withdrawing funds out of the ATM’s and EFTPOS Withdrawals?
If you are currently selecting ‘SAV’ you will now need to select ‘CHQ’. For those members who have access to two different accounts with your Accesscard or Accessdebit Card the CHQ/SAV options for you will not change.
What changes can I expect about how my loan is paid?
A Loan Repayment Account will be set up and act as a ‘holding account’ for your loan payment.
Do I need to do anything about my loan repayments?
No, we will change your loan payments so they are paid into a Loan Repayment Account. Doing this means your future loan repayments will be automatically transferred from your Loan Repayment Account to your loan on the due date.
What happens if I want to pay more off my loan?
You can increase or make extra payments into the Loan Repayment Account at any time. When you want to transfer this to your loan, give us a call on 0800 696 636. We can make the repayment and adjust your loan accordingly.
What happens if I am currently paying more than it states on my loan agreement?
Your loan payment will reduce to the minimum repayment amount due, in-line with your loan agreement, unless you tell us otherwise.
Is there a change to the fee structure?
Yes, some transaction fees are now charged on the day of your transaction (like banks), rather than one lump sum at the end of the month. Along with this change we will be removing the Loyalty Rebate Scheme, we will continue to offer competitive interest rates on loans and investments.
Is there a change to Electronic or Phone Banking?
The only change is that we will be discontinuing Accesstxt. Due to the popularity of our free AccessMobile App, Accesstxt has now become redundant.
Can I still visit different NZCU’s to complete my banking?
This service will no longer be available. In the future please call our Contact Centre on 0800 696 636 and we will endeavour to help you.
As a term investor will anything change?
Yes, the options for investing from one month to three years will remain the same, however, the description of the Fixed Term Investments have changed. Investment Accounts are now identified and reported as Interest paid: Monthly, Quarterly and on Maturity. This change will bring us in line with other financial organisations.
Will NZCU Staff be available during the upgrade if I have any questions?
Yes, we will be available on Easter Monday from 8.30 a.m. until 5.00 p.m. to answer your questions. Please call 0800 696 636.
We look forward to offering you “one of the most sophisticated and complex banking systems in the world” which will greatly improve NZCU South’s ability to provide the most modern and state-of-the-art banking solutions to you. If you have any questions please email email@example.com or call 0800 696 636.