BNZ KiwiSaver Scheme Reward
Redeem your points for dollars to the BNZ KiwiSaver Scheme
Convert your Flybuys Points into contributions to the BNZ KiwiSaver Scheme.
Whether it's for you or someone else, Flybuys can help the recipient's savings grow.
- 108 Flybuys = a $20 contribution
- Minimum contribution = $20
- Contribute to your own or someone else's account
- Only available with BNZ KiwiSaver Scheme accounts
Not a BNZ KiwiSaver Scheme member? To join or transfer from another scheme visit www.bnz.co.nz/kiwisaver.
Loyalty New Zealand Ltd is not a promoter of, and makes no endorsement or recommendation in relation to the BNZ KiwiSaver Scheme. Loyalty New Zealand Ltd receives a commission from BNZ on the dollar value of all conversions of Flybuys points into contributions to the BNZ KiwiSaver Scheme.
BNZ Investment Services Limited, a wholly owned subsidiary of BNZ, is the Issuer and Manager of the BNZ KiwiSaver Scheme. Download a copy of the BNZ KiwiSaver Scheme Product Disclosure Statement, or pick up a copy from a BNZ store.
Investments made in the BNZ KiwiSaver Scheme do not represent deposits or other liabilities of BNZ or any other member of the National Australia Bank Limited group, and are subject to investment risk, including possible delays in repayment and loss of income and principal invested. None of BNZ, any other member of the National Australia Bank Limited group, the Supervisor, any director of any of them, the Crown or any other person guarantees (either fully or in part) the performance or returns of the BNZ KiwiSaver Scheme or the repayment of capital.
BNZ's advisor disclosure statements are available on request and free of charge.
- Conversions are permitted into any BNZ KiwiSaver Scheme account
You can convert Flybuys points into savings in either your, or another person’s, BNZ KiwiSaver Scheme account. You cannot convert Flybuys points into savings in any other KiwiSaver scheme.
- The BNZ KiwiSaver Scheme terms apply
Conversions of Flybuys points into BNZ KiwiSaver Scheme savings are subject to the terms of the BNZ KiwiSaver Scheme. The BNZ KiwiSaver Scheme is governed by a Governing Document dated 19 August 2016. Further details of the BNZ KiwiSaver Scheme are set out in the BNZ KiwiSaver Scheme Product Disclosure Statement and any other material information which contains the terms attaching to the BNZ KiwiSaver Scheme investment statement which is available online at www.bnz.co.nz or you can request a copy by calling 0800 BNZ KIWI (0800 269 5494).
- Conversion rate is currently 108 points to NZ$20 savings
The conversion rate applicable at the time of conversion will be used to convert Flybuys points into BNZ KiwiSaver Scheme savings. 108 Flybuys points currently convert into NZ$20 savings. Flybuys may change the conversion rate at any time.
- At least 108 points must be converted
At least 108 Flybuys points (currently equalling NZD$20 savings) must be converted each time you wish to convert Flybuys points into BNZ KiwiSaver Scheme savings.
- A conversion will take place only if you have a sufficient balance of Flybuys points to convert.
- Thereafter conversions must be in 108 multiples
Conversions may be made only in multiples of 108 Flybuys points. You can convert any number of bundles of 108 Flybuys points into BNZ KiwiSaver Scheme savings.
- Conversions are irreversible
Once a conversion into BNZ KiwiSaver Scheme savings is requested, you cannot reverse the request.
- Conversions will be allocated between funds in the proportions previously instructed
BNZ KiwiSaver Scheme savings which arise from Flybuys conversions will be allocated between the BNZ KiwiSaver Scheme Funds in the proportions the BNZ KiwiSaver Scheme member has most recently chosen for contributions.
- Savings will be processed within 16 days
Flybuys point conversions will normally be processed into BNZ KiwiSaver Scheme savings within 16 days from the date the request is received.
- Flybuys Membership Terms and Conditions apply
Flybuys Membership Terms and Conditions apply and are available at:
- There may be tax consequences of gifting
If you convert Flybuys points into another person’s BNZ KiwiSaver Scheme account tax issues may arise, including fringe benefit tax if the person is an employee. Tax issues may also arise if you are a Flybuys member who is a participant in the Flybuys for Business Programme. Any tax issues are your responsibility. We recommend that you consult a tax advisor before making a contribution to another person’s BNZ KiwiSaver Scheme account or if you are a Flybuys member who is a participant in the Flybuys for Business Programme . Neither BNZ Investment Services Limited nor Loyalty New Zealand Limited ("Flybuys") makes any representation about the tax liability which may arise if you convert Flybuys points into savings in another person’s BNZ KiwiSaver Scheme account or if you are a Flybuys member who is a participant in the Flybuys for Business Programme.
- These arrangements may change
BNZ may withdraw this facility at any time.
- Flybuys reserves the right to vary these terms and conditions without notice.
- No one guarantees the BNZ KiwiSaver Scheme’s performance
None of BNZ Investment Services Limited, Bank of New Zealand nor any member of the National Australia Bank Limited group, The New Zealand Guardian Trust Company Limited (or any director of any of them), Flybuys or any other person (including the Crown) guarantees the performance, returns, or the repayment of capital in respect of the BNZ KiwiSaver Scheme.
- Your personal information
If you elect to convert your Flybuys points into savings in either your, or another person’s, BNZ KiwiSaver Scheme account, Flybuys will need some additional personal information for that purpose. If you do not provide the required personal information to Flybuys, Flybuys will be unable to convert your Flybuys points into savings in that BNZ KiwiSaver Scheme account. Flybuys will not share the personal information with any third party, except BNZ* to the extent required for the conversion. Both Flybuys and BNZ* will hold the information securely. You can access or request correction of your personal information by contacting Flybuys or BNZ*. The personal information will be collected by Flybuys and held by Flyuys and BNZ* whose addresses are Level 4, NZX Centre, 11 Cable Street, Wellington 6011 and Level 4, 80 Queen Street, Auckland 1142.
*In this context, BNZ means Bank of New Zealand and BNZ Investment Services Limited
- If you are providing the personal information of another BNZ KiwiSaver Scheme account holder, you must obtain the consent of that person to provide the personal information to Flybuys (and BNZ).