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Loan Society Launches New Card & Internet Services


Loan Society Launches New Card and Internet Services

Loan and Building Society (LBS) customers with sufficient savings or mortgages will pay no fees on purchases with their new Eftpos cards, or for internet banking transactions with the society.

LBS launched both products this week, with the no-fees incentive aimed at rewarding customer loyalty to the NZAX-listed building society. The general manager, John Moore, said a standard fee would apply on ATM transactions, but no fees will be charged to pre-approved customers for general Eftpos or internet transactions.

"A lot is said about improving banking services for customers, but seldom are the costs of banking actually reduced for them," he said.

"In providing our customers with convenient electronic card and internet banking facilities, we believe they should also be able to enjoy tangible benefits."

The new internet banking service enables LBS clients to transfer funds and pay accounts on a next-day basis, with a high level of personal security for users," Mr Moore said.

Ashburton-based LBS is a retail-funded mortgage lender with mainly South Island customers in farming, commercial and private sectors. It was one of the first companies to list on the Alternative Exchange six months ago.

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