June 2025
Tirohanga Whānui | Overview
The New Zealand Council of Christian Social Services (NZCCSS) welcomes the opportunity to provide feedback on the Access to basic transaction accounts consultation. We support the kaupapa to increase financial inclusion for all New Zealanders.
Whakaaro | Discussion
We support increased financial inclusion
Our main purpose in submitting is to applaud this effort to increase financial inclusion. Our members work closely with some of Aotearoa’s most disadvantaged rangatahi, whānau and older people. Financial exclusion is a key challenge for some of them and efforts to reduce this are warmly welcomed.
Our responses to selected questions for engagement
2. Do you agree that efforts should be taken by banks and regulators to improve access to transaction accounts in Aotearoa New Zealand?
Yes, this is an important goal.
4. Do you agree with our objective to improve access to transaction accounts through promoting the widespread availability of basic transaction accounts?
Yes, this is an important component. Simply requiring basic transaction accounts is only useful if these become known to the people who need them and can be easily and widely accessed.
5. Do you agree that all New Zealanders should have the right to access a basic transaction account?
Yes, this is an important right for basic inclusion in modern society.
6. What features do you think a basic transaction account should have?
Our main concerns about features are that they promote uptake and accessibility, and that they avoid creating financial problems for customers. Simplified onboarding and enough basic features that they are useful and attractive are important. We also want customers to avoid debt and not face any costs or unexpected fees. Careful design is needed to ensuring key functionality, like easily paying rent and basic bills out of the account are possible without exposing customers to debt or fees, for example if their balance is too low for an automatic payment.
7. Which of the following approaches do you think would be most effective in Aotearoa New Zealand to make basic transaction accounts widely available?
Our concern with an industry-led or hybrid approach is that it might fall short or degrade over time as personnel change. Regulatory requirements seem most likely to deliver this important right to those who need it the most.
Ko wai tātou | Who we are
NZCCSS has six foundation members; the Anglican Care Network, Baptist Churches of New Zealand, Catholic Social Services, Presbyterian Support and the Methodist and Salvation Army Churches.
Through this membership, NZCCSS represents over 100 organisations providing a range of social support services across Aotearoa. Our mission is to call forth a just and compassionate society for Aotearoa, through our commitment to our faith and Te Tiriti o Waitangi.
Further details on NZCCSS can be found on our website – www.nzccss.org.nz.
Ingoa whakapā | Contact Name
Alicia Sudden [email protected]
Daniel Campbell