Westpactrust Decides Not To Implement Charge

WESTPACTRUST DECIDES NOT TO IMPLEMENT CREDIT CARD PAYMENT CHARGE

WestpacTrust announced today that it will not implement a new $2 charge for people paying their credit card account at a branch or through an ATM using a deposit envelope, which was due to come into effect on 1 May.

“We planned to introduce this charge because payments through a branch are the most expensive to process and many customers use alternative payment methods,” said Pat Waite, Acting General Manager – New Zealand Retail and Business.

“However, our customers saw it differently. They told us that they saw this as a charge for paying off their credit card debt on time, and that this was not fair. We have listened to their concerns and that is why we have decided not to implement this new charge.

“We were genuinely concerned that our customers perceived it as a charge for paying off their debt which was never our intention,” Mr Waite said.

“We are writing to all our credit card customers telling them of our decision.”

“In talking to our customers about this charge, we also realised that many weren’t aware of alternative ways to pay their balance and do their day-to-day banking. So we are going to do more to help our customers understand other ways they can do their banking, such as using ATMs and Phone Banking and Online Banking so they can get better value from their banking relationship with WestpacTrust.”

The bank is implementing a range of initiatives along these lines, including the development of printed material for customers describing ways to save on their banking.

ENDS

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