Support for customers affected by the severe weather

Customers with Co‑operative Bank Home, Contents or Car Insurance can find helpful information and how to make a claim here

For customers who may require emergency financial assistance, we are available on 0800 554 554 between 8am – 7pm Monday to Friday and 9am – 4pm over the weekend.

1. What these terms and conditions explain

1.1 When you use the International Payments functions in Online Banking, or in our Mobile App, you agree that these terms and conditions apply to you and that you will comply with them. The Co‑operative Bank Product and Services Terms & Conditions, Digital Services Terms & Conditions and Privacy Statement also apply.

2. Terms we use

In these terms and conditions:

  1. Beneficiary Bank means the bank where the Payee holds the account that an International Payment is being made to. If you are receiving an International Payment, we will be the Beneficiary Bank.
  2. Business Day means a day of the week (other than a weekend) that the Beneficiary Bank is open for business.
  3. General Terms and Conditions means The Co‑operative Bank Product and Services Terms & Conditions, Digital Services Terms & Conditions and Privacy Statement.
  4. International Payment means a payment you make to a Payee in another country, or that you receive from a person in another country.
  5. Other Bank means any intermediary (including Convera) and/or Beneficiary Bank, in New Zealand or overseas, that may or may not be appointed by us for the purposes of making or receiving an International Payment.
  6. Payee means the person or entity receiving an International Payment. Where you are sending money to an account at an overseas bank held by you, you will be the Payee. When you are receiving an International Payment, you will be the Payee.
  7. Payment Instructions means instructions given, or purported to be given, by you to us to make an International Payment, and the instructions we give any Other Bank as a result in order to effect that International Payment.
  8. Regulations mean any laws, regulations, practices or policies of a government or regulatory authority in New Zealand or overseas, including those that affect, restrict, prohibit or otherwise make unlawful transactions, payments or dealings with assets, countries or any person, group or entity.
  9. Us, our and we means The Co‑operative Bank Limited.
  10. You means a customer of The Co‑operative Bank who has accepted these terms and conditions. Where there is more than one person holding an account from which an International Payment is requested or made, you means each person jointly and severally.

3. Relationship between these and other terms and conditions

3.1 If a term in our General Terms and Conditions is inconsistent with this document, the International Payments terms and conditions will apply, except to the extent that they are inconsistent with the New Zealand Code of Banking Practice.

3.2 We can change these terms and conditions at any time. A change will take effect after we notify you about the change in any way we think is appropriate (e.g. publishing it on our website). You should check our website on a regular basis to see the latest terms and conditions which apply to your use of International Payments.

3.3 In exercising our rights under these terms and conditions, we will do so in accordance with the Code of Banking Practice.

4. Use of Other Banks in International Payments

4.1 You agree that when we provide International Payments services to you (including, without limitation, us making or receiving payments for you), Other Banks will also be involved.

4.2 If we send Payment Instructions to an Other Bank and the Other Bank acts on the request, the Payment Instructions are final and cannot be changed or cancelled. This may occur instantly, within an hour, or within days of our receipt of your Payment Instructions to us.

4.3 If an incorrect account number for an International Payment (whether at the Beneficiary Bank or not) is given by you, Other Banks in some countries will credit that account even if it is not in the name of the Payee, without any responsibility on their part. Some Other Banks will not tell a Payee of a credit to their account when requested to do so. We are not responsible for anything done, or not done, by Other Banks.

4.4 You agree that, to the maximum extent permitted by law, you make and receive International Payments entirely at your risk. We are not liable for any loss arising from the involvement of any Other Bank, whether or not the Other Bank is appointed by us

5. Timing of International Payments and payment limits

5.1 An International Payment should arrive in the Payee’s account between two and five Business Days after it was made. However, we give no guarantee about when a Payee may receive an International Payment. Delays may occur that are outside our control.

5.2 International Payments are subject to your daily transaction limit (excluding the our fee referred to in clause 7.1). You will not be able to make International Payments above your limit. For International Payments in excess of your limit, please contact us.

6. Application of Regulations to International Payments

6.1 Any International Payments we make or receive for you may be affected by Regulations. International Payments may be interrupted, prevented, delayed or otherwise adversely affected, fully or partially, because of Regulations. This includes instances where we or any Other Banks consider that a Regulation may apply, or where a government or regulatory authority says that a Regulation may apply. It is entirely your risk if any International Payment to be made or received by you is affected by Regulations. We are not obliged to contest or challenge any act of any government or regulatory authority.

6.2 You acknowledge that if any International Payment requested by you is:

a. in United States Dollars;

b. to be cleared in the United States; or

c. to be made using a bank in the United States,

you confirm to us, at the time your Payment Instruction is given to us, that the Payee is not a person, group or entity, or in or associated with a country, that is sanctioned by US laws and regulations, including those administered by the Office of Foreign Assets Control of the US Department of Treasury.

7. What we charge you and what we receive

7.1 We will debit the value of the International Payment and fees to your account in New Zealand dollars (converted at the online exchange rate advised by us at the time of confirmation).

7.2 The exchange rate is calculated by Convera based on commercially available interbank rates. The final exchange rate includes a margin set by Convera and also includes a commission that we receive for each and all International Payments we make via Convera.

7.3 We will charge you a fee for sending International Payments. You will be advised of this fee before you confirm an International Payment. The involvement of Other Banks means International Payments may be subject to other commissions, fees or charges payable to the Other Banks. We may also receive and retain commissions, fee rebates or revenue-sharing payments from Other Banks.

7.4 Other Banks commissions, fees or charges in respect of an International Payment may be deducted from that payment. This will therefore decrease the amount received by the Payee. You may wish to increase your International Payment amount to allow for these charges.

7.5 Where an account with us is to be debited to make an International Payment (including debiting any commissions, fees and charges relating to requested attempts to cancel or change requests), you authorise us to debit that account for the amount payable.

7.6 Where an International Payment that has been confirmed by you is returned to us for any reason, changes in foreign exchange rates may result in a different amount being credited to your account. Other Banks may also apply fees. We are not liable for any loss relating to a returned International Payment.

8. Your liability and our liability

8.1 You must ensure, when giving us a Payment Instruction, that you have sufficient funds in your account from which the International Payment will be made. You indemnify us for any loss we suffer if you do not have sufficient funds to make the International Payment.

8.2 You indemnify us for any loss we suffer (including any liability we incur to Convera) as a result of acting on any Payment Instruction, or making any International Payment for you in reliance on any Payment Instruction. It also includes any loss we suffer because you have asked us to attempt to cancel or change any Payment Instructions.

8.3 You authorise us to debit any of your accounts with us for any amount you indemnify us for under these terms and conditions.

8.4 Where the law requires us to be liable for any loss, our liability is limited to reimbursement of any fees paid to us for supplying the relevant International Payment to which the loss relates.

8.5 This paragraph applies if we have complied with our obligations under (or are not required to comply with) the Consumer Guarantees Act 1993 or if we are required to comply with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 or where we reasonably believe that the payment is or may be fraudulent. We:

a. may decline to act or delay acting on any instruction relating to an International Payment where we consider that we have good reason to do so;

b. will not be liable for any claim that arises from acting reasonably in accordance with your Payment Instructions relating to an International Payment;

c. will not be liable for any loss suffered by you or a third party due to matters outside our control (including machine failure, system failure or strikes);

d. will not be liable for any loss suffered by you or a third party due to anything referred to in these terms and conditions; and

e. accept no liability for any delay in transferring funds to or from your accounts.

9. Disclosure of information about you

9.1 You authorise us to provide to any Other Bank any information that Other Bank requests us to provide about you in order to manage that Other Bank’s obligations under Regulations including anti-money laundering or countering the financing of terrorism laws.

9.2 You authorise us to provide to Convera in order for Convera to collect and use your personal information to:

a. provide and facilitate the provision of International Payments to you;

b. comply with Regulations relating to anti-money laundering or countering the financing of terrorism;

c. prevent and detect fraud; and

d. for debt recovery purposes.

9.3 You acknowledge that Convera may disclose your personal information it holds to:

a. any member of its corporate group (the Convera Group) for the purpose of any member of the Convera Group:

i. providing benefits, products or services to you or us.

b. any third party providing services to a member of the Convera Group company in respect of International Payments;

c. to any person if required to do so by Regulations or legal process, or

d. where required by Regulations, law enforcement authorities for purposes such as detecting, investigating, prosecuting and preventing crimes, including money laundering and related criminal activity, and the recipients may further disclose the information for these and other related purposes.