BNZ Waives PayClip Monthly Fees To Support COVID-impacted SMEs

Published: Thu 26 Mar 2020 02:58 PM
Bank of New Zealand (BNZ) has announced today that monthly fees for its PayClip product will be waived for the next month.
BNZ General Manager SME and Enterprise Partnerships, Karna Luke, says, “The lockdown is affecting all businesses, but particularly small and micro-businesses who rely on PayClip to do all their transactions.
“With no ability to see customers face-to-face for the next month at least, there’s effectively no revenue for these businesses and waiving PayClip fees will mean one less outgoing to worry about as they shore up their financial position to weather the lockdown,” says Luke.
PayClip is a portable payment solution that integrates with a customer’s mobile phone to allow people to take payments via EFTPOS and Credit Card on the spot. There are no long-term contracts, rather customers pay a $30 fee, excluding GST, per device per month.
The waiver will be in place for at least the next month and means businesses who rely on it ordinarily will not need to cancel their subscription during the lockdown.
Other support measures available to BNZ business customers include:Waiving all contactless debit transaction fees for SMEs for three months from 20 March 2020BNZ bankers can provide immediate access to funds to help with short-term cashflow needs.Extensions of Trade CreditOverdraft rates reduced by 1%Online, 24/7 capability to apply for business lending up to $100K without additional security.Apply online for up to $100,000 of lendingPrincipal repayment holidaysExtension of term lending periodsShort term loansHardship loansBusiness credit card options‘Interest Only’ options on a case-by-case basis
Be good with money
Bank of New Zealand (BNZ) has been a big part of New Zealand life for over 150 years since its foundation in 1861. The bank employs over 5,000 people and has more than 170 retail stores and 32 Partners business centres across the country.
Passionate about enabling a higher achieving New Zealand, BNZ works with personal, business, agri, and private wealth clients, helping them grow and make their goals a reality.
A subsidiary of the National Australia Bank Group of companies, BNZ is governed locally by a Board of Directors and strives to help New Zealanders be good with money.
Contact Bank of New Zealand
0800 275 269

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