Sep 23, 2019
September 13, 2019
ANZ PNG’s Retail, Commercial and SME Businesses transfer to Kina Bank
FAQs for Institutional and Large Corporate 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.
IMPORTANT NOTE: This Customer FAQ document is for Institutional and Large Corporate customers. It sets out in detail what will happen to various banking products and services when ANZ’s Retail, Commercial and SME businesses transfer to Kina Bank.
For more information regarding your personal banking arrangements, please refer to the Retail Customer FAQs.
PAYROLL
1. Will our employees (who have ANZ personal accounts) 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 new Kina Bank BSB for all transferring ANZ customers is 028-111.
2. 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 new 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 ANZ post 23 September 2019.
No changes are required for employees currently paid into any bank other than ANZ.
3. 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 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.
4. My company does payroll payments using book transfers. What will happen to this service following the transfer?
This service will no longer be instantaneous after the transfer as the beneficiary accounts will have been transferred to Kina Bank.
You would need to change the BSB codes of your employees to Kina Bank BSB codes and send us the Payroll file henceforth. The new Kina Bank BSB for all transferring ANZ customers is 028-111.
That may mean there is a slight delay in payments being credited as they will be processed in line with the next KATS clearance cycle (KATs cycles go four times a day).
For more information, please contact your Relationship Manager to help you plan your banking needs.
ONLINE CHANNELS
5. My company currently uses Transactive Banking. What will happen to this service after the transfer to Kina Bank?
Transactive Banking will be unavailable to all customers from 3.00pm Friday 20 September 2019 to 8.00am Monday 23 September 2019.
Customers who use this channel are encouraged to take note of this, and plan their Transactive Banking needs accordingly.
CASH WITHDRAWAL/DEPOSIT
6. Can I withdraw or deposit cash at any ANZ Branch during the weekend 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.
ANZ BRANCHES
7. What happens to all ANZ branches after the transfer to Kina Bank?
All ANZ branches (Harbour City, Port Moresby Town, Boroko, Waigani, Jacksons, 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.
8. I use the ANZ Retail Branch network to do my corporate banking, what do I do after the transfer to Kina Bank?
Three Corporate Centres in Port Moresby, Lae and Goroka will help support the business banking needs of our Institutional and Large Corporate customers when the ANZ Retail Branches transfer to Kina Bank.
These locations have been chosen as a majority of our Institutional and Large Corporate customers are located in these business hubs.
The new Corporate Centres will feature a highly personalised service with secure deposit facilities, cash and counter service, secure parking and private meeting spaces.
9. Will all ANZ customers have access? For example, can ANZ Retail, SME or Commercial customers do their banking in these Corporate Centres?
No. These Corporate Centres will only service ANZ Institutional and Large Corporate customers.
Our Retail, SME and Commercial customers can continue to do their banking in any of our Retail branches until the transfer to Kina Bank. Once the transfer is complete they will need to use a Kina Bank branch for their banking.
10. Where are they located and when will they be open?
Waigani Corporate Centre (Open 8 August 2019)
ANZ Haus, Frangipani Drive Waigani, Port Moresby
Opening hours are Monday to Thursday, 8.45am to 3.00pm. Friday, 8.45am to 4.00pm.
Waigani Corporate Centre BSB: 018 801
Lae Corporate Centre (Open 13 August 2019)
Nambawan Super Haus,
Lae Top Town
Opening hours are Monday to Thursday, 8.45am to 3.00pm. Friday, 8.45am to 4.00pm.
Lae Corporate Centre BSB: 018 890
Goroka Corporate Centre (Opening March 2020)
Location and Opening Hours to be announced at a later date.
11. Will there be changes to ANZ’s banking fees and charges?
No. There will be no changes to our Institutional and Large Corporate Banking fees and charges when you do your banking in the Corporate Centres.
12. I’m an Institutional or Large Corporate customer and I’m based outside the locations of the three Corporate Centres. Where can I do my banking?
You can continue to use the existing ANZ Retail Branches in your location until the transfer is complete, which is expected to be end of September.
After the transfer, Institutional and Large Corporate customers based outside of Lae, Port Moresby and Goroka (from March 2020) will be able to access corporate banking services at Kina Bank branches in Goroka (up to March 2020), Kimbe, Kokopo, Madang, Mt Hagen, Wewak thanks to a ‘Network Extension Partnership’ agreement between ANZ and Kina.
This is to ensure minimal impact to banking services for these customers when the ANZ Retail Branch network across PNG transfers to Kina Bank.
For detailed information on the Network Extension Partnership (NEP) click here.
Customers can access:
13. Under the Network Partnership Agreement, what banking services will I have access to at a Kina Branch?
After the transfer, Institutional and Large Corporate customers based outside of Lae, Port Moresby and Goroka (from March 2020) will be able to access corporate banking services at Kina Bank branches in Goroka (up to March 2020), Kimbe, Kokopo, Madang, Mt Hagen, Wewak thanks to a ‘Network Extension Partnership’ agreement between ANZ and Kina.
ANZ corporate customers will be offered basic product offering at Kina Branches. Customers will be able to complete cash withdrawals, cash deposits and cheque deposits.
Other banking products can be accessed through the three ANZ Corporate Branches or through ANZ Transactive.
For detailed information on the Network Extension Partnership (NEP) click here.
Customers can access:
14. What can I expect to find when I access the Kina Bank branch to do my corporate banking?
Under the Network Partnership Agreement, there will be an ANZ marked teller counter in Kina Branches outside Lae, Port Moresby and Goroka.
The staff who will work on this marked counter will only serve ANZ Institutional and Large Corporate customers.
15. Can customers in Goroka use this arrangement with Kina Bank, given the Goroka Corporate Centre will not be open until March 2020?
Yes. The NEP agreement will apply to Institutional and Large Corporate customers who do their banking in Goroka until the ANZ Goroka Corporate Centre opens in 2020.
Once the Goroka Corporate Centre is open, corporate customers in Goroka must do their banking at the new ANZ Corporate Centre.
16. Will ANZ share my information with Kina Bank as part of this arrangement?
The only information that will be shared with Kina Bank is the name list of our Institutional and Large Corporate Customers based in each province. This list will help Kina understand who will be accessing its branch in each province.
No other information about your banking relationship with ANZ will be shared. ANZ is guided by its strict policies and takes customer privacy very seriously.
CORPORATE CREDIT CARD
17. I have an ANZ Corporate Credit Card. What will happen to my card after the transfer of the retail business to Kina Bank?
Existing ANZ Corporate Cards will transfer to Kina Bank together with any outstanding interest, fees and charges due. At that time, all future repayments on Corporate Cards will be made to Kina Bank and Kina Bank will manage all administration of Corporate Cards.
ANZ will continue to manage limit requirements in relation to Corporate Cards to help minimise the impact of these changes, we are still working through the final details of this arrangement and your Relationship Manager will be in contact with you prior to completion of the sale to finalise these arrangements with you.
For any new Corporate Credit Card request, please liaise directly with you Relationship Manager.
EFTPOS
18. What will happen to my ANZ EFTPOS machine?
As part of the sale, all ANZ Eftpos machines will be replaced with new Kina Bank Eftpos machines. To ensure a smooth transition and minimal customer impact, Kina has already started the process of replacing Eftpos machines.
From 19 August 2019, your ANZ Eftpos Merchant Support Officer will contact you to discuss the ANZ Eftpos migration to Kina.
19. I am an Eftpos merchant and I have a couple of Eftpos machines. What will happen to this arrangement after the sale completes?
As an ANZ Institutional/Large Corporate customer, your existing ANZ Merchant Agreement will remain with ANZ.
All ANZ Eftpos machines will be switched off and decommissioned from 8:00pm on Thursday 19 September 2019.
ANZ and Kina Eftpos Merchant Support teams will work with you to enable you to have Kina Bank Eftpos machines prior to Thursday 19 September 2019.
Settlement of proceeds from the Kina EFTPOS terminals will be credited into your ANZ account the following working day. A report detailing the transactions made through terminals will also be made available overnight via email to authorised contacts.
ANZ PACIFIC APP
20. Will I be able to access ANZ Pacific App after the transfer?
The ANZ Pacific App will no longer be available when the transfer is complete.
Customers are encouraged to use Transactive Banking as an alternate channel. If your business is not registered on Transactive, please speak with your Relationship Manager.
DISKPAY
21. We are now using diskpay – what do we use to process payroll after the transfer?
Diskpay will be gradually decommissioned in the period following 23 September 2019.
Customers are strongly encouraged to use ANZ Transactive Banking as the preferred channel.
If your business is not currently processing your payroll on Transactive, it is very important that you speak with your Relationship Manager, or Transaction Banking Manager, who will arrange for the technical support required to make this change.
BILL PAY ON INTERNET BANKING
22. I’m currently using IB4B – will I be able to access IB4B electronically after the transfer to Kina Bank?
Internet banking will no longer be available when the transfer is complete.
Customers are encouraged to use Transactive Banking as an alternate channel. If your business is not registered on Transactive, please speak with your Relationship Manager.
23. Will ANZ continue to offer Bill Pay on Internet Banking continue after the transfer to Kina Bank?
No. ANZ will no longer offer Bill Pay on Internet Banking after the transfer is complete.
This is because Internet Banking channel will no longer be available to ANZ customers from 3:00pm Friday 20 September 2019 when the sale competes.
EGATE
24. We are currently using Egate. What will happen after the transfer to Kina Bank?
Egate will no longer be available to ANZ customers when the transfer is complete.