Papua New Guinea Customer Frequently Asked Questions (FAQs)
Commercial and Small-Medium Enterprise (SME) customers
Notice of Transfer to Kina Bank – Important information for all customers
BACKGROUND
On 25 June 2018, Australia and New Zealand Banking Group (PNG) Ltd (“ANZ”) announced an agreement to sell its Retail, Commercial and Small-Medium Sized Enterprise (SME) banking businesses in Papua New Guinea to Kina Bank Limited (“Kina Bank”), to allow it to focus solely on Institutional and Large Corporate banking in the PNG market.
The transfer to Kina Bank occurred on Sunday, 22 September 2019 (“Completion”).
Kina Bank is a wholly-owned subsidiary of Kina Securities Limited, a PNG company listed on the Australian and Port Moresby stock exchanges.
The sale included all 15 ANZ branches, the entire ATM network and ongoing roles for those who currently support the Retail, Commercial and SME banking businesses.
Important information – Transfer to Kina Bank
• The transfer took effect on Sunday 22 September 2019 (“Effective Time”).
• From the Effective Time, ANZ's Retail, Commercial and Small Medium Enterprise (SME) sized customers became customers of Kina Bank and any account(s), deposits, loans, products and other banking arrangements held with ANZ (together referred to as the “Banking Services”) were transferred to Kina Bank.
ACCOUNTS
What will happen to my deposit account with ANZ after the transfer to Kina Bank?
All accounts will automatically migrate to Kina Bank upon completion of the sale, which is currently scheduled for Monday 23 September 2019. This means all deposits you hold with ANZ will be transferred to new account(s) opened in your name with Kina Bank.
From 3.00pm on Friday 20 September 2019, you will no longer be able to access or transact on your accounts with ANZ.
From Monday 23 September onwards, you will need to contact Kina Bank’s Contact Centre available 24/7 on +675 308 3800 or toll free 180 1525 or email kina@kinabank.com.pg if you have any queries relating to your bank account.
Do I have to open a new account with Kina Bank?
No. There is no action required from you as a customer. All accounts will automatically migrate to Kina Bank as part of completion of the sale. Your new account at Kina Bank will be opened in the same name as your account with ANZ, with the same account number and your Access, debit and credit cards will continue to work.
Can I open a new account at ANZ before the transfer to Kina Bank?
You can open a new account with ANZ until Monday 9 September 2019. From this date, to assist with the smooth implementation of the transfer, ANZ will stop opening new accounts for customers and refer requests for new accounts to Kina Bank.
When the transfer to Kina Bank is complete, will my account number change?
No. Your account number will not change. You will continue to use the same account number at Kina Bank. The only change will be to your BSB number, as Kina Bank has a different BSB to ANZ.
When the transfer to Kina Bank is complete, will my BSB number change?
Yes. Your BSB number will change.
The Kina Bank BSB for all transferring ANZ customers is 028-111.
ATM, DEBIT AND CREDIT CARDS
Will my ANZ Access Card work at a Kina ATM after the transfer to Kina Bank?
Yes. Your ANZ Access card will work at any Kina Bank ATM, as well as any other bank ATM, after the completion of the sale. Your PIN will not change.
In time, your card will be replaced by Kina Bank with a new Kina Bank branded card.
Will my ANZ Visa Debit Card work after the transfer to Kina Bank?
Yes. Your ANZ Visa Debit Card will continue to work after the completion of sale.
In time, your card will be replaced by Kina Bank with a new Kina Bank branded Visa Debit Card.
For customers who have a Visa Debit card and will be travelling overseas on Friday 20 September 2019, please contact our Call Centre team on 1801022 to activate your Debit Card before you travel.
To ensure a smooth implementation of the transfer, ANZ will no longer accept new Debit Card applications from Monday 9 September 2019. All new applications will be referred to Kina Bank.
Will my ANZ VISA Credit Card work after the transfer to Kina Bank?
Yes. Your ANZ VISA Credit Cards will continue to work after the completion of sale.
After the completion of sale, all your credit card details and information, together with any outstanding interest, fees and changes due, will be transferred to Kina Bank. At this time, all future repayments on your credit card will be made to Kina Bank.
In time, your card will be replaced with a new Kina Bank branded VISA Credit card.
To ensure a smooth implementation of the transfer, from Monday 9 September 2019, ANZ will no longer accept new Credit Card applications. All requests will be referred to Kina Bank.
PERSONAL AND MORTGAGE LOANS
I have an existing personal loan from ANZ. What will happen to my loan after the transfer to Kina Bank?
Your personal loan portfolio, documentation and security will automatically migrate to Kina Bank after the completion of the sale.
All outstanding amounts on your loan, including any interest, fees and charges, will be transferred across to a new account in your name with Kina Bank.
If you have any queries after the completion of the sale you will need to contact Kina Bank’s Contact Centre available 24/7 on +675 308 3800 or toll free 180 1525 or email kina@kinabank.com.pg.
I have an existing mortgage loan from ANZ. What will happen to my loan after the transfer to Kina Bank?
Your loan portfolio, which includes all documentation and your remaining balance, will automatically transfer to Kina Bank as part of completion of the sale. All outstanding amounts on your loan, including any interest, fees and charges, will be transferred across to a new account in your name with Kina Bank.
To ensure a smooth transition from ANZ to Kina Bank, from Monday 15 July 2019, ANZ will no longer sell mortgage (home loans and RIPL) loans. Any new requests will be referred to Kina Bank.
Will Kina Bank charge a new interest rate when my mortgage moves across?
No. Your interest rate on completion will remain the same as it was with ANZ immediately prior to completion.
Any changes after that time will be in accordance with the terms and conditions of your mortgage with Kina Bank.
CHEQUE BOOKS
ANZ has a record of all the ANZ cheque books issued and those used before the completion of the sale. This information is being shared with Kina Bank.
What will happen to ANZ cheque books after the transfer to Kina Bank?
ANZ cheque books will no longer be valid after the transfer to Kina Bank.
If you have an ANZ issued cheque, we encourage you to present the cheque for clearance before Friday 20 September 2019. If you have recently issued a cheque to someone or a business, please inform them of this timeline if they wish to cash the cheque.
From Saturday 21 September 2019, any unused ANZ cheques cannot be issued. From Monday 23 September 2019, customers must deposit all clearing cheques at Kina Bank branches.
Will I get a new cheque book with Kina Bank?
Yes. Customers will be progressively issued with Kina Bank cheque books over the coming months, commencing with those who use Cheque Books more frequently. Customers will be contacted by ANZ Branch staff prior to 23 September 2019 and Kina Bank staff after 23 September 2019 and chequebooks will be distributed via the Kina Bank branch network.
For ANZ customers who are transferring, Kina Bank chequebooks are not valid until Monday 23 September 2019. Any Kina Bank cheque issued prior to this date will be dishonoured.
ANZ BRANCHES
What happens to all ANZ branches after the transition to Kina Bank?
All remaining ANZ branches (Harbour City, Port Moresby Town, Waigani, Lae Market, Madang, Wewak, Goroka, Hides, Mt Hagen, Kimbe, Kokopo, Lihir) will close at 3.00pm on Friday 20 September 2019.
These branches will reopen from Monday 23 September 2019 as Kina Bank branches.
ATMs & ATM CARDS
What will happen to ANZ ATMs after the transfer to Kina Bank?
All ANZ ATMs will be rebranded as Kina Bank ATMs from Monday 23 September 2019.
From 1 September 2019, it’s important to note some ANZ ATMs across the network will be rebranded ahead of time to allow for a smooth transition.
ANZ customers will not be able to use Kina Bank ATMs until after the completion of the sale. A message will be loaded on impacted screens to alert you before you transact.
Will ANZ ATM cards work after the transfer to Kina Bank?
Yes. ANZ ATM cards will continue to work after the sale is completed.
CASH WITHDRAWAL/DEPOSIT
Can I withdraw or deposit cash at any ANZ Branch during the transition period?
Customers will not be able to make any cash withdrawals or deposits at any ANZ branch after 3.00pm Friday 20 September 2019.
We recommend you make your cash withdrawals or deposits prior to Friday 20 September 2019 to avoid any inconvenience.
Can I withdraw cash at ANZ ATMs during the transition period?
From 4.00pm Friday 20 September 2019 cash withdrawals on ANZ ATMs will not be available to customers.
Customers are advised to take note of these impacts and make changes to their banking arrangements accordingly to avoid any inconvenience.
ONLINE CHANNELS
Can I access ANZ Internet Banking during the transition period?
No. ANZ’s Internet Banking service will no longer operate from 3.00pm 20 September 2019.
After this time, you will no longer be able to view or transact on any products and services offered on Internet Banking. All customers are encouraged to take note of this, and plan Internet Banking needs accordingly.
Can I use ANZ Internet Banking after the transfer to Kina Bank?
No, ANZ’s Internet Banking service will no longer be available after completion of the sale. After the transfer, you will need to log on to Kina Bank’s Internet Banking platform, however you will be able to do so using your current ANZ log on details. You will then be asked to update your contact details.
Your username and password will remain the same, and you will be able to access all of your accounts and information, via Kina Bank’s Online banking website.
If you have any queries after the completion of the sale you can contact Kina Bank’s Contact Centre available 24/7 on +675 308 3800 or toll free 180 1525 or email kina@kinabank.com.pg
Will I be able to access ANZ Pacific App after the transfer to Kina Bank?
No. This service will not be available after the transfer. Kina Bank has a mobile application for its customers, and for further information you can contact Kina Bank’s Contact Centre available 24/7 on +675 308 3800 or toll free 180 1525 or email kina@kinabank.com.pg
Will I be able to access mobile banking (ANZ GoMoney) after the transfer?
All ANZ GoMoney customers will migrate to Kina Bank’s ‘Connect’ platform that offers similar services.
OUTWARD TELEGRAPHIC TRANSFERS
Can I do Outward Telegraphic Transfers during the transition period?
No. This service will not be available from 2.00pm on 17 September. This applies to all ANZ Branches and ANZ Internet Banking.
Customers must take note of this service outage and plan their banking in advance to avoid inconvenience.
Can I make book transfers during the transition period?
No. Customers will be unable to make Book transfers through their ANZ accounts from 3.00pm Friday 20 September 2019.
INWARD TELEGRAPHIC TRANSFERS
How will Telegraphic Transfers work during the transition period?
All customer accounts will be transferred to Kina Bank on successful completion of the sale. ANZ will make best efforts for a short time following the transition to settle existing/ongoing telegraphic transfer payments, however there will be a delay.
Customers must make note of this change and amend their banking needs accordingly to avoid inconvenience.
Customers should also inform their payers well in advance of the changes to Account BSB numbers, to avoid payments being unnecessarily rejected or delayed.
The Kina Bank BSB for all transferring ANZ customers is 028-111.
In addition to the changes to BSB, customers will need to inform any party from whom they receive Inwards Telegraphic Transfers to change the SWIFT or BIC code on the transfer instructions from ANZBPGPX to KINIPGPG to ensure payments are correctly routed to Kina Bank after Monday 23 September 2019.
INWARD DOMESTIC ACH (KATS)
How will the transition impact Inward Domestic ACH (KATS)?
All customer accounts will be transferred to Kina Bank on successful completion of the transfer, currently scheduled for 23 September 2019. Any incoming remittances to ANZ will not be processed and credited from 23 September 2019.
Customers must make note of this change and amend their banking needs accordingly to avoid inconvenience. Customers should also inform their payers well in advance of the changes to BSB numbers to avoid payments being delayed or rejected.
BANKER’S CHEQUE AND DRAFTS
When will the bank stop accepting bank drafts?
To ensure a smooth implementation of the transfer, customers will no longer be to apply for bank drafts from 3.00pm on Friday 20 September 2019.
Customers must take note of this impact and plan their banking arrangements accordingly.
What will happen to my FX orders placed with ANZ?
All unfulfilled FX orders with ANZ at the time of transition will be transferred across to the Kina Bank FX Order Book. Your anticipated waiting time in the FX queue will be maintained. The Kina Bank Treasury dealers will contact you when your FX order is fulfilled.
ANZ will not accept any new FX Orders from 2:00pm on Wednesday 18 September.
For further information, including how to place any new orders, you can contact Kina Bank’s Contact Centre available 24/7 on +675 308 3800 or toll free 180 1525 or email kina@kinabank.com.pg
COMMERCIAL AND SMALL-MEDIUM SIZED ENTERPRISE (SME) BANKING CUSTOMERS
PAYROLL
Will our employees get new account numbers for us to do payroll?
No. Customers will continue to use the same account number at Kina Bank. However, there will be a change to BSB numbers as Kina Bank has a different BSB to ANZ.
The Kina Bank BSB for all transferring ANZ customers is 028-111.
As an employer what do I need to do when the BSB numbers change?
You will need to update the BSB numbers in your payroll systems for all employees who have their salary paid into ANZ accounts.
The Kina Bank BSB for all transferring ANZ customers is 028-111.
BSB numbers should not be changed until the final payroll file before Monday 23 September 2019 has been processed by ANZ.
However, changes must be reflected on the first payroll file sent to Kina Bank post 23 September 2019.
No changes are required for employees currently paid into any bank other than ANZ.
Is there a cut-off time for payroll files to be sent to ANZ ahead of the transfer to Kina Bank?
If your payroll file would usually be sent to ANZ for processing on Friday 20 September 2019, you will need to send to ANZ on Thursday 19 September.
This is to ensure there is sufficient time for the payroll file to be processed and for your employees to access their wages or salaries before accounts are no longer accessible at 3:00pm on Friday 20 September 2019.
My company does payroll payments using book transfers. What will happen to this service after the transfer to Kina Bank?
This service will no longer be available after the transfer because the beneficiary accounts will have been transferred to Kina Bank.
SME/ COMMERCIAL LOANS
I have an existing loan with ANZ. What will happen to my loan after the transfer to Kina Bank?
Your loan portfolio which includes all documentation and your remaining balance together with securities will automatically transfer to Kina Bank as part of completion of the sale, scheduled for Monday 23 September 2019. All outstanding amounts on your loan, including any interest, fees and charges, will be transferred across to a new account in your name with Kina Bank. Your account number remains the same.
Please contact your Relationship Manager at ANZ for more information.
CHEQUE BOOKS
ANZ has a record of all the ANZ cheque books issued and those used before the completion of the sale. This information is being shared with Kina Bank.
What will happen to ANZ cheque books after the transfer to Kina Bank?
ANZ cheque books will no longer be valid after the transfer to Kina Bank.
If you have an ANZ issued cheque, we encourage you to present the cheque for clearance before Friday 20 September 2019. If you have recently issued a cheque to someone or a business, please inform them of this timeline if they wish to cash the cheque.
From Saturday 21 September 2019, any unused ANZ cheques cannot be issued. From Monday 23 September 2019, customers must deposit all clearing cheques at Kina Bank branches.
Will I get a new cheque book with Kina Bank?
Yes. Customers will be progressively issued with Kina Bank cheque books over the coming months, commencing with those who use Cheque Books more frequently. Customers will be contacted by ANZ Branch staff prior to 23 September 2019 and Kina Bank staff after 23 September 2019 and chequebooks will be distributed via the Kina Bank branch network.
For ANZ customers who are transferring, Kina Bank chequebooks are not valid until Monday 23 September 2019. Any Kina Bank cheque issued prior to this date will be dishonoured.
ANZ BRANCHES
What happens to all ANZ branches after the transfer to Kina Bank?
All remaining ANZ branches (Harbour City, Port Moresby Town, Waigani, Lae Market, Madang, Wewak, Goroka, Hides, Mt Hagen, Kimbe, Kokopo, Lihir) will close at 3.00pm on Friday 20 September 2019.
These branches will reopen from Monday 23 September 2019 as Kina Bank branches.
CASH WITHDRAWAL/DEPOSIT
Can I withdraw or deposit cash at any ANZ Branch during the transition to Kina Bank?
Customers will not be able to make any cash withdrawals or deposits at any ANZ branch after 3.00pm Friday 20 September 2019.
We recommend you make your cash withdrawals or deposits before Friday 20 September 2019, to avoid inconvenience.
Can I withdraw cash at ANZ ATMs during the transition to Kina Bank?
From 4.00pm Friday 20 September 2019 cash withdrawals on ANZ ATMs will not be available to customers.
Customers are advised to take note of these impacts and make changes to their banking arrangements accordingly to avoid any inconvenience.
EFTPOS
What will happen to Eftpos machines during the transition to Kina Bank?
Kina Bank is currently rolling-out its new Eftpos fleet that will replace ANZ’s Eftpos terminals with new Kina Bank ones, and will be in contact with you to provide you with a new Kina Bank Eftpos terminal. All ANZ Eftpos terminals will not work after 8pm on Thursday 19 September 2019.
I am an Eftpos merchant and I have a few Eftpos machines. What will happen to this arrangement after the transfer to Kina Bank?
ANZ Eftpos terminals will be decommissioned from 8pm on Thursday 19 September 2019. The Kina Bank team will be in contact with you to provide you with a Kina Bank Eftpos terminal prior to this time, and your existing Merchant Agreement will transfer over to Kina Bank as part of completion of the sale.
ONLINE CHANNELS
My company currently uses Transactive Banking. What will happen to this service after the transfer to Kina Bank?
From 3.00pm Friday 20 September 2019 Transactive Banking will no longer be available to SME and Commercial customers who are transferring to Kina Bank.
Customers who currently use this service will be able to access Kina Bank’s Digital Corporate Banking at www.kinabank.com.pg. Your Relationship Manager will be able to provide you with more information.
Can I access Internet Banking during the transition period?
No. ANZ’s Internet Banking service will no longer operate from 3.00pm 20 September 2019. After this time, you will no longer be able to view or transact on any products and services offered on Internet Banking.
All customers are encouraged to take note of this, and plan Internet Banking needs accordingly.
Can I use Internet Banking after the transfer to Kina Bank?
No, ANZ’s Internet Banking service will no longer be available after completion of the sale. After the transfer, you will need to log on to Kina Bank’s Internet Banking platform; however, you will be able to do so using your current ANZ log on details. You will then be asked to update your information.
If you have any queries after the completion of the sale you can contact Kina Bank’s Contact Centre available 24/7 on +675 308 3800 or toll free 180 1525 or email kina@kinabank.com.pg.
ANZ PACIFIC APP
Will I be able to access ANZ Pacific App after the transfer to Kina Bank?
No. This service will not be available after the transfer. Kina Bank has a mobile application for its customers, and for further information you can contact Kina Bank’s Contact Centre available 24/7 on +675 308 3800 or toll free 180 1525 or email kina@kinabank.com.pg
BANK GUARANTEES
What about Bank Guarantees issued on my behalf by ANZ. What will happen to them after the transfer to Kina Bank?
ANZ is working with all the Beneficiaries regarding the re-issuance of Guarantees by Kina Bank to ensure there is limited customer impact.
The existing ANZ Guarantees will be remain active until 12.00am Saturday 21 September 2019 and will be cancelled as part of the transition and a Kina Bank-issued Bank Guarantee will automatically come into effect at exactly the same time to replace the cancelled ANZ issued Bank Guarantee.
ANZ will issue a Bank Guarantee Cancellation Notice on Monday 16 September – five days before the transition date.
What about Term Deposits held by ANZ as security for the Bank Guarantee. What will happen to them after the transfer to Kina Bank?
Any Term Deposit(s) held by ANZ as security for the Bank Guarantee will be transferred to Kina Bank in the same manner as Deposit Accounts.
Kina Bank will continue to hold the Term Deposit as security for the Kina Bank issued Bank Guarantee.
Your ANZ Relationship Manager will be in contact with you prior to Monday 23 September 2019 should ANZ require assistance in contacting the Beneficiary or obtaining the original copy of the ANZ issued Bank Guarantee.
What will happen to my FX orders placed with ANZ?
All unfulfilled FX orders with ANZ at the time of transition will be transferred across to the Kina Bank FX Order Book. Your anticipated waiting time in the FX queue will be preserved. The Kina Bank Treasury dealers will contact you when your FX order is fulfilled.
ANZ will not accept any new FX Orders from 2:00pm on Wednesday 18 September.
For further information, including how to place any new orders, you can contact Kina Bank’s Contact Centre available 24/7 on +675 308 3800 or toll free 180 1525 or email kina@kinabank.com.pg