
TSB New Zealand is a community-focused bank that's been around since 1869. It's a Kiwi-owned bank with a strong presence in the country's rural areas.
TSB has a long history of supporting local communities through sponsorships and donations, with a focus on sports, arts, and community development. This commitment to community involvement is evident in its partnerships with various organizations and events.
TSB has a range of banking services to suit different needs, including everyday accounts, savings accounts, and home loans. Its online banking platform is user-friendly and allows customers to manage their accounts and make transactions with ease.
TSB's Role in the Community
TSB has a strong presence in rural New Zealand, with over 80% of its branches located in rural areas.
As a community-focused bank, TSB has been supporting local events and initiatives for over 150 years.
TSB has a long history of investing in local communities, with a focus on supporting rural development and economic growth.
TSB's commitment to rural New Zealand is evident in its sponsorship of events such as the TSB Bank Triathlon and the TSB Hawke's Bay Arts Festival.
TSB's community involvement extends beyond financial support, with staff members actively participating in local volunteer work and charity events.
Customer Experience
TSB in New Zealand has a reputation for making the mortgage process feel easy, as one customer found out 2 years ago. They were very easy to deal with and made the experience straightforward.
Other banks can make the process overcomplicated, but TSB's approach is refreshingly simple. This is a major advantage for customers who want a hassle-free experience.
TSB's customer service is highly praised, with one customer expressing their satisfaction and recommending the bank to others. They were very happy with the service they received.
TSB has also made efforts to improve their mobile payment options, with the addition of TSB paywave to Apple. This is a convenient feature that makes it easy for customers to make payments on the go.
Bank Operations
TSB operates with 47 branches across New Zealand, offering a range of services to its customers.
TSB has a strong online presence, with its online banking service available 24/7, allowing customers to manage their accounts, pay bills, and transfer funds from the comfort of their own homes.
Products and Services
TSB offers a wide range of products and services to cater to its clients' needs.
First-time home buyers can take advantage of TSB's first home loans, which are specifically designed for this purpose.
TSB also provides next home loans for those looking to purchase their next home.
Building a home loans are available for financing the construction of new homes.
Investment lending options are tailored for property investors.
Existing mortgage holders can opt for home loan top-ups, which provide additional borrowing options.
TSB also offers personal loans for different personal requirements, such as debt consolidation and major purchases.
KiwiSaver is another service offered by TSB, designed to help individuals save for their future.
TSB provides a variety of insurance offerings, including home, travel, and car insurance.
Bank Takes Court Action
The Reserve Bank has taken court action against TSB.
TSB is facing a lawsuit from the Reserve Bank over money laundering breaches.
The Reserve Bank has filed a statement of claim in court, detailing the alleged breaches.
The Reserve Bank is taking a strong stance against financial institutions that fail to meet regulatory requirements.
TSB is now at risk of facing significant penalties and fines for its alleged wrongdoing.
Frequently Asked Questions
Is TSB a good bank in NZ?
TSB Bank in New Zealand has been downgraded by Fitch Ratings, indicating a moderate credit risk. However, the stable outlook suggests that the bank's financial position is still relatively stable.
Who owns TSB Bank, NZ now?
TSB Bank is owned by the Toi Foundation, a charitable organization that reinvests the bank's profits back into the New Zealand community. The Toi Foundation is the successor to the TSB Community Trust, which previously held ownership.
Sources
- https://en.wikipedia.org/wiki/TSB_(New_Zealand)
- https://www.taranaki.co.nz/live-work-and-learn/work-here/case-studies/tsb/
- https://www.trustpilot.com/review/tsb.co.nz
- https://www.mpamag.com/nz/companies/tsb-bank/307852
- https://www.thelawyermag.com/nz/practice-areas/banking-and-finance/high-court-imposes-247m-penalty-on-tsb-bank-for-overcharges/504325
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