Kiwibank set to leave Kerikeri soon

banking cash separately.

“We acknowledge this change creates extra work for host businesses, so we’ve increased our remuneration to reflect that,” she said.

“Although the vast majority of our host businesses, around 100, have chosen to continue, a handful, including the operator of Kerikeri, have taken the opportunity to review their contracts and have decided to exit.”

The bank was looking for an alternative host, but understood agents’ decisions needed to make business sense. Once changes were confirmed Kiwibank customers would be contacted about dates and banking options.

Tait said Kiwibank was the only bank in New Zealand that used agents and outlets to deliver limited banking services where it didn’t have branches.

So far Kerikeri, with its rapidly growing population, has largely avoided the bank closures that have plagued many Northland towns. Tourist hub Paihia no longer has a bank — the ASB shut down in March — and Westpac even pulled out its ATM. Russell’s last bank pulled out in 2013.

The closures are a worry for business owners, who have to hold on to cash takings longer and drive 50km return or more to bank them. They also come amid record profits for some overseas-owned banks. Westpac NZ’s earnings for the six months to March 31, for example, were up 14 per cent on last year, to $709 million. ASB’s 2020 profit dropped by 20 per cent compared to 2019, but was still $967m. Books on Hobson is in Kerikeri’s original post office, from 1937. It has been a PostShop franchise for the past 19 years.

It’s no longer viable, says Books on Hobson owner