Bank launching new product

The National Business

By CLARISSA MOI
KINA Bank will be launching its new product called the “Kina everyday account”, for new and existing customers that will not have a monthly account maintenance fee.
The bank, in response to queries from The National, said that they had also removed Eftpos fees for Kina bank Eftpos terminals.
“The new product ensures customers can manage the amount of fees they incur,” the bank said in a statement.
“Simply by choosing how to transact – whether to use an ATM (automated teller machine), Eftpos, internet banking or Kina Konnect – and how often, customers can manage how much they are charged.
“The easiest way to keep fees to a minimum is to use Kina Bank’s state-of-the-art digital channels – all of which come with low transaction fees.”
The key features of the new account will include:

  • NO monthly charges;
  • NO Eftpos fees when using Kina Bank Eftpos terminals; and,
  • MINIMUM opening balance of just K10.

The bank said its existing customers could apply for a “Kina everyday account” via internet banking and visit their home branch to collect their card.
“ANZ access everyday customers will be automatically transferred across to Kina everyday (account),” the bank said.
“Customers do not need to do anything – their cards will continue to work normally. For new customers, there’s no long list of requirements to open up a Kina everyday account.
“Simply visit your local branch with two valid forms of identification and a K10 deposit.
“The Kina everyday account is another step towards fee free banking from Kina Bank.”
The bank noted that last year, it had introduced a three-year fee free Visa Card for customers with a home loan.
Chief executive officer Greg Pawson said: “We want to continue this trend in 2021.
“With the additional scale, customers and footprint of the proposed acquisition of Westpac’s Pacific businesses, we will be able to introduce further fee free options, making banking affordable for everyone.
“The acquisition is subject to regulatory approvals, but we see this as an exciting opportunity to create something really special for banking and financial services in Papua New Guinea.”