Transfer to Kina Bank
We are working closely with Kina Bank to ensure that the transfer will be as seamless as possible for all customers.
The transfer to Kina Bank will occur on Monday, 23 September 2019 (“Completion”). Should there be any change to the date of Completion, we will update you on the ANZ website (www.anz.com/papuanewguinea).
At Completion, all of your account(s), loans, products, agreements and other banking arrangements you hold with ANZ will be transferred to Kina Bank in accordance with the Terms of Transfer set out herein, and you will become a customer of Kina Bank. The transfer will include any of the following banking products or services that you may hold, or that were outstanding, with ANZ immediately prior to Completion:
1. Deposits (individuals) including Access Everyday Account, Access Premium Account, Personal Cheque Account, Pacific Savings Account, Term Deposit, Call Deposit, Priority Cash Management Account and associated debit cards including Visa Debit Card (Classic) and Visa Debit Card (Gold), Current / Cheque Account;
2. Deposits (commercial and SME) including Access Everyday Account, Access Premium Account, Personal Cheque Account, Pacific Savings Account, Term Deposit, Call Deposit, Priority Cash Management Account and associated debit cards including Visa Debit Card (Classic) and Visa Debit Card (Gold), Current / Cheque Account;
3. Home Loans;
4. Personal Loans;
5. Credit cards including Visa Credit Card (Classic), Visa Credit Card (Gold), Visa Corporate Card, and associated credit card reward points (if any);
6. Go Money mobile banking service;
7. Commercial Loans including overdraft, fully drawn advance, facility (or other term loan), insurance premium funding facility, standby letter of credit or guarantee facility and any related letters of credit and guarantees issued under such facilities; and/or
8. Merchant Acquiring product,
(together, the “Banking Services”).
You will not incur any costs in connection with the transfer and your credit or loan balances will remain unaffected by the transfer to Kina Bank.
We will continue to keep you updated throughout the transfer process. Until the transfer to Kina Bank has been completed, nothing changes in your relationship with ANZ. For further information about the transfer, including FAQs, please visit www.anz.com/papuanewguinea.
We take this opportunity to sincerely thank you for being an ANZ customer, and wish you all the very best for the future.
Terms of the Transfer
With effect on and from Completion, your Banking Services that are in place or outstanding with ANZ will be transferred to Kina Bank in accordance with the terms set out below and you will become a customer of Kina Bank:
1. All funds you have deposited with ANZ, and all loans due to ANZ and loan facilities with ANZ will be transferred to new account(s) in your name(s) with Kina Bank;
2. Any existing arrangement that you have with ANZ in relation to your Banking Services will be transferred to Kina Bank. That is, the terms and conditions associated with your Banking Services with ANZ will be unaffected by the transfer to Kina Bank, and will be the terms and conditions that apply between you and Kina Bank once the transfer has completed.
3. Any credit card facility you have with ANZ will be replaced with a new credit card facility from Kina Bank, on the same terms and conditions you had with ANZ, with effect on and from Completion. You may continue to use your ANZ-branded credit card on and from Completion but Kina Bank will communicate with you after Completion to replace your ANZ-branded credit card with a Kina-branded credit card. Your card balance receivables as at Completion will be transferred to Kina Bank effective on and from Completion, and your continued use of the credit card facility on and after Completion will be deemed to be acceptance of Kina Bank’s new facility offer.
4. Unless you instruct ANZ in writing before Completion (or to Kina Bank after that time), Kina Bank will be entitled to rely on any outstanding consent, instruction, indemnity, confirmation, declaration, authority or mandate from you to ANZ, which will be deemed to have been given to Kina Bank;
5. ANZ will transfer all balances from your account(s) to the new account(s) opened by Kina Bank and will close your account(s) with ANZ upon the transfer of such balances to the new account(s);
6. All of the rights, interest and benefit to and in all guarantees, mortgages, charges, encumbrances and other security executed and/or granted by you in favour of ANZ (including any mortgage over real property, charge or other security over cash in accounts or deposits) will be transferred to Kina Bank;
7. The transfer to Kina Bank will include all of the rights, liabilities, duties and obligations of ANZ in connection with your Banking Services that are in place or outstanding with ANZ immediately prior to Completion. Kina Bank will assume responsibility for such liabilities, duties and obligations of ANZ arising on and from Completion and ANZ will be released from, and will cease to have any liability or responsibility for, these on and from Completion; and
8. ANZ will continue to be responsible for, and is committed to resolving issues or complaints that you may have in connection with any Banking Services provided to you in the period prior to Completion.
ANZ may, prior to Completion, share and consolidate with Kina Bank the customer records and information it holds (including in relation to any past and current transactions and arrangements) in order to allow the transfer to Kina Bank to proceed in a smooth and seamless manner and to enable Kina Bank to provide services to you with effect on and from Completion.
These Terms of the Transfer shall be governed by and construed in accordance with the laws of Papua New Guinea.