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Frequently asked questions

Deposits

    • New Zealand Citizens or Residents of all ages. We currently have over 2,000 depositors including individuals, families, companies, family trusts, charities, churches and denominations.

    • If you don’t live in New Zealand and are interested in investing with us please contact info@christiansavings.co.nz

    • You can sign up for an individual or joint depositor account using our online form here , or download our Product Disclosure Statement which has a physical application form on the last few pages.

    • If you would like to set up an account for an entity you can download our Entity Application form here.

    • After receiving your application one of our team will be in touch within 3 business days to confirm if we require additional documentation and when you can transfer the funds.

    • For Individual/Joint Accounts, we require:

      • Contact Details, IRD Number, Resident Withholding Tax Rate, Tax Residency Confirmation
      • Bank Account Verification (for your nominated account to have funds paid to)
      • Verified ID and Address (for many people we can do this electronically)
      • AML/CFT Questions answered
      • We also may require extra documentation for Source of Funds/Wealth depending on the size of the deposits

      For most customers the form may take 10-15 minutes to complete, takes 1-2 days to set up.
    • For Entity Accounts, we require:

      • Entity Contact Details, IRD Number, Resident Withholding Tax Rate, Tax Residency Confirmation, Confirmation of Signatories
      • Entity Documentation such as Constitution/Rules/Trust Deed
      • Bank Account Verification (for your nominated account to have funds paid to)
      • Verified ID and Address for key individuals (for many people we can do this electronically)
      • We also may require extra documentation for Source of Funds/Wealth for some customers

      Entity accounts will usually take a little longer to set up than a personal account. This is often because each entity operates differently from the next, and will manage their funds differently. Before we open an account with an entity it’s important for us to know who makes decisions in the entity and who will be transacting with us.
    • Head to our online application form , under contact details tick ‘I am an existing customer’ and complete your new deposit details.

    • If you prefer you can also send your deposit details to office@christiansavings.co.nz or call us on 0508 SAVING (0508 728 464)

    • This is possible, however it depends on the relationship with the person and the individual situation.

    • If you would like to open an account for a minor (under 18) please add a parent/guardian’s details and ID to the account. When the account holder is almost 18, one of our team will be in touch to confirm the level of authority you would like them to have over the account.

    • If you would like to open an account on behalf of a parent, beneficiary/vulnerable person or someone with a disability, contact us at info@christiansavings.co.nz or call us on 0508 SAVING (0508 728 464) with your relationship to the person and whether you currently hold an active Power of Attorney for Property for the individual and we’ll see what we can do.

    • AML/CFT

      • Like many other finance companies in New Zealand (along with lawyers, and real estate agents) Christian Savings is required to comply with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT). You can read more about AML/CFT in New Zealand here.
      • The AML/CFT Act requires us to identify our customers, understand their purpose of their business with us and their funds, understand the origin of the funds and customers wealth, as well as any future plans for the funds. This also may include extended due diligence and certified documentation for source of funds and wealth. The focus is on knowing our customer.
      • Each entity has their own programme that details how they will comply with the AML/CFT requirements. Our team have recently worked with our board and a risk management specialist to adjust our programme to better suit Christian Savings and our customers.
    • Tax Residency

      • We are also required by the IRD under the new Common Reporting Standard (CRD) Legislation to collect Tax Residency information from our customers. Find our more about Tax Residency, what happens with this information, and why we are required to collect it here.
      • We’ve updated our forms multiple times in recent years to ensure each question is clear on how to answer. If you have a question on any specific section of our forms please contact us at info@christiansavings.co.nz or call us on 0508 SAVING (0508 728 464)
    • When setting up an account it’s important for us to get to know our customer. With personal accounts this is simpler than an entity, where multiple people manage the organisation, make decisions over the funds, have access to account information and give instruction for account changes.

    • With the AML/CFT Act we are required to identify anyone with effective control over the entity and/or the funds. This includes but is not limited to trustees, directors, shareholders, signatories, officers and any persons acting on behalf of the entity. Often with churches, this may include deacons or similar, as well as any other role, committee, or individual with significant control.

    • It will be different for each entity, so please contact us if you are unsure on who is a key individual for your entity.

    • You can complete an online key individual form here , or download the physical form here.

    • For term deposits under 9 months interest is paid at maturity. Our 9-month Term Deposit has interest paid quarterly. For term deposits 1 year and longer, interest is paid 6 monthly.

    • When you set up a term deposit, you can choose either to have interest compounding (added back in to the principal), paid directly to a Christian Savings on call account or paid directly to your nominated bank account.

    • If you have a term deposit of 1 year or longer and would like to receive interest payments monthly or quarterly. Please contact our team and we’ll see what we can do.

    • With a Term Deposit, you decide how much you would like to invest, we pay you an agreed amount of interest, at the end of the term you can decide to invest more, change the term, or withdraw some of all of your investment.

    • Charitable Deposits work the same as a normal term deposit, but instead of earning interest on your investment we donate an amount equal to the interest you would have earned to an eligible charity of your choice.

    • All our deposits support and enable us to partner with churches and Christian charities throughout Aotearoa, New Zealand.

    • Email alex@christiansavings.co.nz with some information about the church/charity and their purpose. Let us know if you are a decision maker for the organisation or would like us to contact them anonymously to become an eligible charity.
    • Its relatively quick to set up, and we’re always looking for more churches and charities we can support through Charitable Deposits, it’s a win-win. We would love to help people support your mission, while enabling us to lend to churches and charities throughout New Zealand.

    • A Funeral Plan account with Christian Savings is a flexible savings account where the funds are designed to be used for funeral expenses. Our minimum initial investment is $1,000. You can contribute to the account as often or as seldom as you like, its up to you. You can make regular payments weekly, monthly or whenever you choose, while the account continues to earn interest. The interest rate you earn is the same as our 9-month rate, and interest is paid into the account twice a year.

    • Christian Savings is required to deduct Resident Withholding Tax (RWT) from interest paid on investments. If you are a charitable organisation, you may be exempt from this.

    • In order to set up an entity on a 0% tax rate we are required by the IRD to hold an IR15C Certificate of Exemption from Resident Withholding Tax. If you don’t have this certificate on file, please contact the IRD if they have issued one to your entity historically or you can apply for a certificate here

Loans

    • We lend to churches and Christian charities in Aotearoa. We also lend to pastors under our Ministers Car Loan scheme. We don’t do property lending for individuals.

    • Download our Information on Borrowing page to see if your organisation might be eligible, and for information on how we lend.

    • If you’re looking to apply for a loan from Christian Savings download our Information on Borrowing page here and our Lending Application Form here.

    • We lend to churches and Christian charities in Aotearoa. We also lend to pastors under our Ministers Car Loan scheme. We don’t do property lending for individuals.

    • AML/CFT

      • Like many other finance companies in New Zealand (along with lawyers, and real estate agents) Christian Savings is required to comply with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT). You can read more about AML/CFT in New Zealand here.
      • The AML/CFT Act requires us to identify our customers, understand their purpose of their business with us and their funds, understand the origin of the funds and customers wealth, as well as any future plans for the funds. This also may include extended due diligence and certified documentation for source of funds and wealth. The focus is on knowing our customer.
      • Each entity has their own programme that details how they will comply with the AML/CFT requirements. Our team have recently worked with our board and a risk management specialist to adjust our programme to better suit Christian Savings and our customers.
    • Tax Residency

      • We are also required by the IRD under the new Common Reporting Standard (CRD) Legislation to collect Tax Residency information from our customers. Find our more about Tax Residency, what happens with this information, and why we are required to collect it here.
      • We’ve updated our forms multiple times in recent years to ensure each question is clear on how to answer. If you have a question on any specific section of our forms please contact us at info@christiansavings.co.nz or call us on 0508 SAVING (0508 728 464)
Can’t find what you’re looking for here? Email: info@christiansavings.co.nz or Phone: 0508 SAVING (0508 728 464)