A great way to spend and save

Spend or save your way with YouChoose. No setup or monthly fees. Unlimited withdrawals.

1.70% p.a. interest

1.70% p.a.
interest

No setup or monthly fees

No setup
or monthly fees

Optional overdraft

Optional
overdraft

Apply in minutes

Apply
in minutes

YouChoose rates, fees and legal stuff

Below you’ll find all you need to know about interest rates and fees for your YouChoose account. Full transparency and no hidden costs here.

Interest rates – these are subject to change

Savings interest rate

1.70% p.a.

If your YouChoose account is in credit, we will pay you interest on that credit balance at the savings interest rate. Interest will accrue daily and be paid monthly into your YouChoose account.

Overdraft interest rate

10% p.a.

We will charge you interest on any amounts you have borrowed under your overdraft at a floating rate of interest. Interest will accrue daily on the total amount owing and will be debited from your YouChoose account monthly.

Excess interest rate

6% p.a.

If you exceed your overdraft limit or overdraw your account, we may also charge you interest at the excess interest rate.

Unarranged debit interest

10% p.a.

If you don’t have an overdraft but you spend more money than you have available in your account, we will charge you interest on the amount owing.

Fees and limits

Setup fee

Free

We won’t charge you anything to open or set up your YouChoose account.

Monthly account fee

Free

We won’t charge you any ongoing monthly or annual fees for your YouChoose account.

Online transaction fees

Free

You’re free to spend as you please without any online transactional fees.

Direct debits

Free

You’re free to setup and make as many direct debits as you need to.

Automatic payments

Free

You’re free to setup and make as many automatic payments as you need to.

Direct debit dishonour fee

$25

We may charge this fee if you do not honour a direct debit from your YouChoose account.

Online EFTPOS payments

Free

We won’t charge you anything to make purchases through Online EFTPOS.

Online EFTPOS daily limit

$3,000

You can spend up to $3,000 through Online EFTPOS each day.

EFTPOS card daily limit

$3,000

You can spend up to $3,000 from your YouChoose EFTPOS card each day.

ATM daily withdrawal limits

$1,500

You can withdrawal up to $1,500 (NZD) from your YouChoose account from ATMs in New Zealand or overseas each day.

Domestic ATM withdrawal fee

Free

We won’t charge you anything to withdraw money from your YouChoose account while in New Zealand.

International ATM withdrawal fee

$6 (NZD)

We will charge you this fee for every ATM transaction made at an overseas ATM machine. Every international ATM withdrawal will also have a currency conversion included.

International ATM balance enquiry fee

Max. $0.75 (NZD)

We will charge you this fee for every ATM balance enquiry made at an overseas ATM machine.

Card replacement fee

$10

We will charge this fee if you request a replacement card.

Recovery costs

Actual costs

If we need to recover costs from your account, we will charge you any costs charged by third parties relating to your agreement. We can provide copies of the invoices on request.

Important legal stuff

We recommend taking some time to read this stuff – it includes important information about the terms of your YouChoose account.

Other important account details

We recommend taking some time to read this stuff – it includes important information about the terms of your YouChoose account.

  • Interest will accrue daily on your savings balance and be paid monthly into your YouChoose account.

  • Overdraft interest will accrue daily on your overdraft balance and be charged monthly to your YouChoose account.

  • There is no minimum savings balance, however the maximum balance cannot exceed $100,000.

  • We will provide you with monthly statements unless we rely on your consent to receive information about your account through online banking.

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