Superbank has been sold

[Beemer]

If any of you have an account with Superbank, you'll be getting a letter very soon to advise that as from 25 September, the assets of Superbank will be owned by GE Money. It is advising people to transfer their account balances to Kiwibank, but I'll be putting mine in Rabobank - better interest rate, no minimum balance and no need to open another account as with some of the other banks offering a similar product.

There is more info on their website - www.superbank.co.nz but you can't access online banking right now as they have crashed the site while updating it! You can ring them on 0508 226 546 but with the letter is a form you can fill out if you want to close your account and have the balance transferred to your nominated account.

[Finn]

Yip, GE bought it for their mortgage portfolio. That Rabobank is fantastic. Great service and their interest rates are the best. I wouldn't touch Kaywebank with a bar of soap. Shithouse systems with posties on the counter.

[Beemer]

I wouldn't touch Kaywebank with a bar of soap. Shithouse systems with posties on the counter.

A bit harsh there, one of them happens to be my husband! They aren't posties, far from it. They are retail staff just like you get in any shop or bank. I don't like their fee structure or their minimum balance, which is why I won't be transferring my money to them.

[Korea]

So which banks do you recommend?
I thought Kiwibank sounds pretty competitive. I was thinking of checking them out soon.
Got pissed with ANZ before, National ditto, with BNZ now... so-so.

[Finn]

So which banks do you recommend?
I thought Kiwibank sounds pretty competitive. I was thinking of checking them out soon.
Got pissed with ANZ before, National ditto, with BNZ now... so-so.

Rabobank. ANZ are useless and they own National Bank. BNZ? You have a short memory. Give Rabobank a call. They actually answer their phones too and are the only bank in NZ with an AAA+ rating.

[Beemer]

Rabobank is good because it offers 7.35% with no minimum balance and you don't have to have another account with them. National, Kiwibank and Westpac all offer 7% I think, but you must have a minimum balance of $2000-$3000 and some banks require you to have other accounts with them. Depends on how much money you usually have in the account and if you have other accounts with any of those banks already. I don't, mine is with BNZ but they don't offer a high interest online savings account.

[steved]

Rabobank is good because it offers 7.35% with no minimum balance and you don't have to have another account with them. National, Kiwibank and Westpac all offer 7% I think, but you must have a minimum balance of $2000-$3000 and some banks require you to have other accounts with them. Depends on how much money you usually have in the account and if you have other accounts with any of those banks already. I don't, mine is with BNZ but they don't offer a high interest online savings account.

I have a Online Call with Kiwi bank and the rate is 7.3%, minimum $2000. I have no other accounts with them. The difference between this account and Rabobank is small.

[Beemer]

I have a Online Call with Kiwi bank and the rate is 7.3%, minimum $2000. I have no other accounts with them. The difference between this account and Rabobank is small.

Yes, Kiwibank offer "up to 7.3%" but the biggest difference is the minimum balance to open the account. Nice if you have a spare $2000 lying around, but many of us don't. I had more than that in my Superbank account when I closed it, but I didn't have it at the start.

[Flyingpony]

The Rabobank advertisements are cool Puts a nice fresh idea and face to plain old boring banking ... think they're a dutch outfit but I could be wrong.

Kiwi bank looked interesting but I've heard you can't negotiate out of fees ... that makes them bad.

Rabobank savings interest rate looks sharp.

ASB have a fastsaver account with no min balance and 7% interest, but it's basically internet based only - no teller access - so you might have to have other accounts with them - maybe.

[riffer]

The Rabobank advertisements are cool Puts a nice fresh idea and face to plan old boring banking

You know, companies like mine just love people like you ...

[Lias]

On a semi related note.

Who you all think is the best bank for day to day banking? I'm with ANZ like I always have been for convenience , but as noted their service is shite.

I'm not a good customer.. I'm pepetually sitting at my OD limit, my brain doesnt understand the word savings, and I dont do cash.. I swipe everything on eftpos card..

I need a bank that has low / non existant OD fees and interest, and eftpos transaction fees.. Currently I'm on a flatrate plan with ANZ which is $15 a month for all my eftpos fees (which isnt too bad) and some obscene interest rate on my OD.

[riffer]

Ok...

given your method of banking, and the charges you are paying, I would suggest avoiding the bank altogether.

Keep the money yourself. Save $15 a month. No overdraft fees either.

Banks hate people like you. Unless you've got a mortgage, or need to invest or have electronic control I can't see the point in a bank account.

[Skunk]

For credit cards BankDirect are good. Easy to access day to day funds (ASB).

Rabobank looks good for everything else.

[James Deuce]

Stay the hell away from Westpac.

[Scouse]

If any of you have an account with Superbank, you'll be getting a letter very soon to advise that as from 25 September, the assets of Superbank will be owned by GE Money

I heard they were changing their name to notsosuperbank