The Reserve Bank will allow more licensed non-bank deposit takers to use the term 'bank' from 2028 under new rules in the Deposit Takers Act, with enhanced oversight and depositor protection measures.
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BNZ discontinues affected accounts and updates terms
BNZ fined $2.6 million after misleading some customers with non-profit accountsReserve Bank expands who can use the word 'bank'
Reserve Bank clears the way for more businesses to call themselves banksSpotted something wrong on this page? Report a correction.