How long will it take to complete the Scheme’s closure? All bondholders who held Bonus Bonds after the wind-up was announced on October 31, 2020, and updated their bank account information will be paid out, with payments starting in December 2021. In our first payment, we are providing a payout of $1.10 each Bonus Bond owned.
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.
How do I get my Bonus Bonds back?
Why haven’t I received a letter regarding my Bonus Bonds account details like my family member/friend/neighbour has? We attempted to contact all bondholders with up-to-date contact information through email or letter.
If you haven’t heard from us, it’s because we don’t have your right contact information, so please phone our specialized Contact Centre staff on 0800 266 374 or + 64 3 474 1299 from outside New Zealand (charges may apply) Monday to Friday, 8am to 6pm NZT.
It will speed up the process if you have the details of your bondholding on hand when you phone, but if you don’t have these, we may still be able to assist you. When you call, we’ll let you know whether you need to offer any more identification or information.
What is the status of 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.
Are Bonus Bonds subject to taxation?
If a unit holder’s total payments from the Scheme are equal to or less than $1 per Bonus Bond held, the unit holder should not be required to pay income tax on such payouts. For each tax year, the Scheme’s practice has been to keep and pay tax on its investment income.
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.
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.
What is the best way to see if I have Bonus Bonds?
Your contribution will be deposited into any New Zealand bank account you specify. Simply phone the Bonus Bonds Wind-up Contact Centre between the hours of 8 a.m. and 6 p.m., Monday through Friday, on 0800 266 374.
Please note that you do not need to visit an ANZ branch; when you call, they will instruct you on how to supply your bank account information.
In many circumstances, you will be able to offer your bank account information over the phone right away.
It might be good to have the information of your Bondholding on hand when you call (for example, your Bondholder number or a serial number from a Bonus Bonds certificate).
In December of current year, the ANZ expects to pay $1.10 for each Bonus Bond owned. Bondholders may get a small payout at a later date if there are any money left over after the Bonus Bonds scheme is closed.
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 is the value of Bonus Bonds?
Each bonus bond is worth $1, and you can invest or withdraw without penalty. A bonus bond’s value does not rise or fall, so if you invest $1,000, you will receive $1,000 in bonus bonds when you withdraw your money. The odds of receiving a prize are the same for each $1 bond.
When did Bonus Bonds first become popular?
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.