Pricing

A great way to spend and save

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

0.50% p.a. interest
No setup or monthly fees
$0 to start
Manage your account through our mobile app

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.

Important legal stuff

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

Account and service general terms and conditions

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.
  • 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.

Interest rates – these are subject to change

Savings interest rate 0.50% 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.
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.
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 withdraw 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 $13
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.

For legacy overdraft customers

  • YouChoose Overdraft Agreement - this only applies if you have an overdraft
  • Overdraft interest will accrue daily on your overdraft balance and be charged monthly to 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.
What happens if I go over my overdraft limit?
We’ll be in contact to let you know. You may be subject to what is called excess interest. If applicable, you will be charged interest at an excess interest rate on what you owe, over and above your overdraft limit. For full details see our T&Cs.
What if I’m struggling to repay my overdraft?
If you are having financial difficulty get in touch – we may be able to help. If you are unable to keep up your payments because of illness, injury, loss of employment, the end of a relationship, or other reasonable cause, you may be able to ask us to vary the terms of this agreement (we call this a hardship variation). For more information see our unforeseen hardship procedure.