VoiceOver users please use the tab key when navigating expanded menus

Bonus Bond Deadline Approaches - What You Need To Know

ANZ is encouraging the holders of Bonus Bonds to make sure their bank account and contact details are up to date, before repayments begin in mid-December.

 

How much will each bondholder receive?

 

We expect to make a payment of $1.10 for each Bonus Bond to all domestic and international Bondholders - who have provided their current bank account details - before Christmas.

 

So for example, someone who holds 100 bonds will receive $110.

 

A small additional payment (possibly a couple of cents per Bonus Bond) might be made at a later date when the wind-up is finalised, if there are remaining funds to be distributed.

 

How many people have contacted ANZ so far?

 

Around 226,000 bondholders have been in touch with ANZ to arrange the redemption of their bonds.

 

They account for around 79% of the total funds in Bonus Bonds.

 

That leaves around 810,000 people who bought or were gifted Bonus Bonds over the 50 years the scheme was in operation.

 

If people have been in the scheme for a long time they may have forgotten they hold the bonds, and may not be aware they’re entitled to receive a payment.

 

We encourage anyone who thinks that they may have Bonus Bonds to contact us before then so they can get their money as soon as it is available. Call us on 0800 266 374 or visit bonusbonds.co.nz for more information.

 

 

Final repayments for the Bonus Bond scheme will begin in mid-December 2021. ANZ is urging all bondholders to get in touch so we can make sure we have their contact details.

 

 

 

Does everyone need to contact ANZ to update their details?

 

Yes - we need everyone to confirm bank account details for the account they would like their funds paid into.

 

This is because even though we hold account information for many Bondholders we need to be sure payment is made to the account the customer wants the funds paid to.

 

In most cases it is very easy for customers to update or confirm their account details with us.

 

What about the option of donating funds to the Cancer Society?

 

Nearly two thirds of bondholders have $50 or less in the scheme, so they may be less motivated to claim their funds. That is why ANZ is encouraging people to think about donating their money to the Cancer Society.

 

Around 10,000 bondholders have already chosen to donate their funds to the Cancer Society. This means ANZ will be passing on around more than $220,000 on behalf of these investors when we make the first payment in December.

 

The Cancer Society is the only organisation that funds research into all types of cancers, and provides support to anyone affected by cancer, including families and friends, no matter what age or type of cancer someone might have.

 

How do bondholders make their donation?

 

If you would like to donate your Bonus Bonds to the Cancer Society we can accept your instructions to pay your share of the proceeds to The Cancer Society of New Zealand. You will need to call us to provide these instructions.

If you select this option, then we don't require your bank account details. We will provide confirmation to you when we have completed your donation(s).

 

If you require a receipt once the donation has been made and your donation is $5 or more, The Cancer Society can provide you with a tax deductible receipt.

 

Please email The Cancer Society admin@cancer.org.nz with your name and the date of the donation (we’ll provide you a payment confirmation) and The Cancer Society will provide you with a receipt.

 

 

What happens if I miss the December payout?

 

After the distribution in December investors can continue to provide account details to receive their payments if they have not already done so.

 

What is ANZ doing to contact the remaining bondholders?

 

ANZ has a dedicated team working to contact more the investors who are due to receive a share of the funds remaining in the scheme.

 

It can be hard to track some people down, due to a range of factors such as people moving house or living overseas.

 

What will happen to any unclaimed funds?

 

Unclaimed funds will be given to the Treasury.

 

Treasury will manage the process for claiming funds after the scheme is wound up.

 

How do people contact ANZ about Bonus Bonds?

 

If you think you might be a Bonus Bondholder you can call the dedicated phone line, on 0800-266-374. Or more information visit www.bonusbonds.co.nz

 

RELATED ARTICLES

Scams leap during COVID

The number of scams reported to ANZ by its customers, or identified by the bank’s systems, increased by 91% in the year to the end of September 2021, compared to the previous twelve months.

Interest rates are rising - what should home owners do?

Interest rates are rising, but still very low by historic standards. So home loan customers should consider paying off as much debt as they can.

Sustainable Finance - Moving Into The Mainstream

As sustainable finance moves into the mainstream it is fostering innovation and encouraging demand for high quality reporting and more uniform standards.