As part of regularly reviewing our products, we sometimes need to make changes1. The Society Cheque account was designed as a fee-free transactional account for managing the day-to-day cashflow of your organisation.
From 1 November 2023 we will no longer pay interest on our Society Cheque account. We now have our interest-bearing Business On Call account, which earns interest on the balance, so we are realigning Society Cheque with its original purpose.
Interest accrued on Society Cheque accounts up to 31 October 2023 will be paid overnight on Tuesday 31 October 2023.
For more information, please read the below FAQs
FAQs
Don’t forget to read this bit:
1 We are able to make changes to our accounts under our General Terms, which you can find on our website at tsb.co.nz/information