Transfer of Retail, Commercial and Small-Medium Sized Enterprise banking businesses of Australia and New Zealand Banking Group (PNG) Ltd (“ANZ”) to Kina Bank Limited (“Kina Bank”)
As previously informed, ANZ’s Retail, Commercial and SME business in Papua New Guinea will be transferred to Kina Bank. This notice provides you with an update and details of the transfer process.
Transfer to Kina Bank
We are working closely with Kina Bank to ensure that the transfer will be as seamless as possible for all customers.
The transfer to Kina Bank will occur on Monday, 23 September 2019 (“Completion”). Should there be any change to the date of Completion, we will update you on the ANZ website (www.anz.com/papuanewguinea).
At Completion, all of your account(s), loans, products, agreements and other banking arrangements you hold with ANZ will be transferred to Kina Bank in accordance with the Terms of Transfer set out herein, and you will become a customer of Kina Bank. The transfer will include any of the following banking products or services that you may hold, or that were outstanding, with ANZ immediately prior to Completion:
1.) Deposits (individuals) including Access Everyday Account, Access Premium Account, Personal Cheque Account, Pacific Savings Account, Term Deposit, Call Deposit, Priority Cash Management Account and associated debit cards including Visa Debit Card (Classic) and Visa Debit Card (Gold), Current / Cheque Account;
2.) Deposits (commercial and SME) including Access Everyday Account, Access Premium Account, Personal Cheque Account, Pacific Savings Account, Term Deposit, Call Deposit, Priority Cash Management Account and associated debit cards including Visa Debit Card (Classic) and Visa Debit Card (Gold), Current / Cheque Account;
3.) Home Loans;
4.) Personal Loans;
5.) Credit cards including Visa Credit Card (Classic), Visa Credit Card (Gold), Visa Corporate Card, and associated credit card reward points (if any);
6.) Go Money mobile banking service;
7.) Commercial Loans including overdraft, fully drawn advance, facility (or other term loan), insurance premium funding facility, standby letter of credit or guarantee facility and any related letters of credit and guarantees issued under such facilities; and/or
8.) Merchant Acquiring product,
(together, the “Banking Services”).
You will not incur any costs in connection with the transfer and your credit or loan balances will remain unaffected by the transfer to Kina Bank.
Going Forward
