Is it still possible to cash in my Bonus Bonds? There will be no more redemption requests accepted after the wind-up has begun. The scheme’s remaining funds have been locked in to be dispersed as part of the wind-up, and distribution has already begun.
All bondholders who held Bonus Bonds after the announcement of the wind-up on October 31, 2020, and updated their bank account information will be paid out.
In December 2021, we began issuing payments of $1.10 every Bonus Bond held.
Customers who have not yet received their payment enter their bank account data, and distribution payments are made weekly on Tuesday. This will go on until the winding up is finished. Please keep in mind that overseas payments may take an extra 2-3 business days to display.
If there are any remaining money to be distributed, an additional minor payment may be provided at a later date when the wind-up is completed.
What is the procedure for checking my Bonus Bonds?
You can manage your Bonus Bonds at any time of day or night, from anywhere with an internet connection.
Please be aware that you will no longer be able to access MyBonusBonds to check your balance, update your contact information, or send your wind-up instructions as of November 5th. If you have any questions or need to make any adjustments to your Bonus Bonds, please contact our Bonus Bonds staff at the numbers listed below.
What happens to Bonus Bonds that aren’t claimed?
After the plan is closed, Treasury will oversee the process of claiming funds.
Anyone who believes they may have Bonus Bonds should contact ANZ right away so they can receive their payments as soon as possible.
How do people contact ANZ about Bonus Bonds?
You can call the designated phone line at 0800-266-374 if you suspect you might be a Bonus Bondholder. Visit www.bonusbonds.co.nz for more details.
Why are Bonus Bonds being phased out?
He said the ultimate amount investors will receive at the end of the wind-up would depend on the actual costs of winding up the scheme as well as any investment income produced after October 31, 2020.
Bondholders would be able to see the financial statements via email, mail, public announcements, and posting the results on the Bonus Bonds website and the NZ Companies Office Disclose Register.
Financial statements reflecting the scheme’s financial situation at the time the wind-up occurred on October 31 were required by the Financial Markets Conduct Act, according to ANZ.
Bondholders should anticipate their money back in the second half of 2021, according to Kelleher.
“In due course, we will contact customers with instructions on how to get their money,” he stated.
Kelleher stated in August that closing Bonus Bonds was in the best interests of investors.
“Low interest rates have reduced the scheme’s investment returns, affecting the size of the prize pool,” he explained.
“It’s now clear that those patterns are likely to persist in the medium run.” As the world economy grapples with the effects of Covid-19, the official cash rate, which is already at a historically low 0.25 percent, may fall further in early 2021,” Kelleher stated at the time.
What’s going on with Bonus Bonds in New Zealand?
ANZ said on Tuesday that it is still waiting for 804,000 bondholders to contact them with their account information. This includes those who may have received Bonus Bonds as a gift or who may have purchased Bonus Bonds in the past.
On August 26, 2020, ANZ Investment Services (NZ) Ltd announced that it would stop accepting new Bonus Bond investments after more than five decades. Low interest rates “continued to diminish the prize pool,” according to ANZ managing director retail and business banking Ben Kelleher.
ANZ NZ managing director of personal banking Ben Kelleher confirmed that bondholders who stayed in the plan through the wind-up process would be paid $1.10 per Bonus Bond.
“If there are any remaining monies to be disbursed,” Kelleher stated, “another minor payment may be made next year.”
Unclaimed funds will be sent to the Treasury, according to ANZ. A date has yet to be determined.
ANZ encourages anyone who believes they have Bonus Bonds to contact them “now or early in the New Year.”
Bondholders should contact ANZ to confirm their bank account details for monies to be paid into if they haven’t previously done so.
“We need to make sure payment is made to the account the client wants the funds sent to, even though we hold account information for several bondholders,” Kelleher explained.
ANZ said it aims to make a payment by Christmas to the 232,000 bondholders who have already given their account information.
Payments would “continue to be processed regularly, until completion of the wind-up,” according to an ANZ spokesman, for bondholders who have yet to contact them with their information.
Bondholders can speak with the team about what kind of identification is needed and what information is currently accessible, according to Kelleher.
Q6. How can persons who believe they have Bonus Bonds but no records go about getting them?
People who received Bonus Bonds as a youngster or as a present may have forgotten about them.
ANZ encourages anyone who believes they may have Bonus Bonds to contact them.
Bondholders can get further information by calling 0800 266 374 or visiting the Bonus Bonds website.
Have Bonus Bonds been distributed?
The remaining $680 million owing to investors who had their money locked up in the defunct Bonus Bonds fund for more than a year has been reimbursed by ANZ.
ANZ announced the closure of the Bonus Bonds fund in August last year, offering the largest single winding up of a fund in New Zealand history, with $3.25 billion to be returned to investors.
However, after initially planning to repay the remaining bondholders by October of this year, ANZ announced that the payment plan had been postponed.
The delays were caused by a lack of IT professionals and the necessity to invest in IT systems in order to make payments to investors, according to the report.
Bonus Bonds NZ is owned by who?
Bonus Bonds are units in the Bonus Bonds Scheme (‘Scheme’) and are not deposits or other obligations of ANZ Bank New Zealand Limited (‘ANZ’), Australia and New Zealand Banking Group Limited (‘ANZ Group’), or their subsidiaries (the ‘ANZ Group’).
How can I get a free copy of my lost inheritance?
Online databases make it simple for anyone to look for unclaimed inheritance money.
Don’t forget to look under the Related Links section of the Links tab. The Financial Management Service, U.S. Savings Bonds, the IRS, the Pension Benefit Guaranty Corporation, Housing and Urban Development, Federal Deposit Insurance Corporation, and the Department of Veterans Affairs all have access to additional searchable databases.
Don’t limit your search to one variant of your loved one’s name if you want to be thorough. Many state databases demand that you type the name exactly as it appears in the system.
Experiment with other spellings, add a prefix or suffix, search using the maiden name, or use the first initial and last name. Add words like “Beneficiary,” “The Estate of,” “Payable on Death,” “Unknown Heir,” or “No Beneficiary” to your list.
Bonus Bonds are they taxable?
Bonus Bonds pays full tax on the prizes (the interest), so whatever you earn won’t be considered income.
How much do Bonus Bonds cost?
One dollar is equal to one bonus bond or unit, and each unit has a chance of winning. According to reports, the average win is around $27.50, resulting in a tax-free return of around 3.4 percent.