18 Apr 2024

Westpac NZ has submitted to the Commerce Commission on its market study draft findings. Our submission can be found here.

We’re working hard to offer competitive products and services that provide customers with value and flexibility in their banking options. The market study is a further opportunity to ensure New Zealanders continue to be well-served by their banks.

We welcome the Commerce Commission’s focus on improving access to banking services for New Zealanders and removing home ownership barriers for iwi.  We are stepping up to help improve financial inclusion through initiatives like helping young people in care, customers who have been made bankrupt and recently-released prisoners to obtain a bank account. Last year we released the Westpac NZ Access to Banking in Aotearoa Report to better understand the issues causing financial exclusion, and we continue to work to address them. Our innovative shared equity and leasehold housing models are helping whanau into their first homes.