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.
Is it still possible to cash in my Bonus Bonds?
Why did ANZIS decide to cease taking new Bonus Bond investments and close the scheme down? With low interest rates reducing the Bonus Bonds prize pool, the plan stopped to new investment on August 25, 2020, and ANZ Investment Services New Zealand Limited (ANZIS) announced its intention to start winding up the Scheme by the end of October 2020.
The scheme’s wind-up, which began at 9 p.m. on Saturday, October 31, 2020, was confirmed by ANZIS, the manager, and Trustees Executors Limited, the supervisor.
No Bonus Bonds can be purchased or redeemed in a wind-up situation, and money will be returned to bondholders as they become available. A monthly prize draw will no longer be held. You will not be able to cash in your Bonus Bonds; instead, throughout the wind-up process, you will receive one or more distributions from the Scheme.
What happens to Bonus Bonds that aren’t claimed?
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.
What is going on with Bonus Bonds?
For each Bonus Bond held, bondholders will earn $1.10. Someone who owns 100 bonds, for example, will receive $110.
If there are any remaining funds after the wind-up, a little further payment (perhaps a couple of cents per Bonus Bond) may be issued at a later date after the wind-up is completed.
Or they can donate the funds to the Cancer Society?
Yes. ANZ has offered bondholders the option of giving their funds to the Cancer Society of New Zealand, as a long-term key sponsor of the organization.
The Cancer Society is the only organization that funds cancer research and provides assistance to anybody afflicted by disease, including their relatives and friends, regardless of their age or kind of cancer.
Over 6000 bondholders have already decided to donate their money to the American Cancer Society. As a result, ANZ will be transferring more than $100,000 on behalf of these investors.
What is ANZ doing to contact the remaining bondholders?
A dedicated team at ANZ is trying to contact over one million investors who are set to receive a share of the remaining monies in the plan.
Due to a variety of causes, such as people moving house or residing abroad, it can be difficult to track down some people.
Is it possible to check my Bonus Bonds online?
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.
How do I make a Bond claim?
Complete a Claim for Lost, Stolen, or Destroyed United States Savings Bonds to register a claim for a savings bond that has been lost, stolen, or destroyed (FS Form 1048). Please sign the form in the presence of a certifying officer who is authorized to do so (available at a bank, trust company, or credit union).
How much do Bonus Bonds cost?
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.
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 Do Bonus Bonds Work in New Zealand?
ANZ Investment Services (New Zealand) Ltd (ANZIS) has announced that it would no longer accept new Bonus Bonds Scheme investments as low interest rates continue to diminish the prize pool.
ANZ’s Managing Director Retail and Business Banking, Ben Kelleher, said, “We’re continuously examining our investment products to ensure they best serve the interests of investors.”
âLow interest rates have cut the scheme’s investment returns, reducing the prize pool’s size. Those tendencies are now clear to be likely to persist in the medium run. As the world economy grapples with the effects of Covid-19, the Official Cash Rate, which is currently at a historically low 0.25 percent, may fall even more in early 2021.
âWith immediate effect, the ANZIS Board has concluded that it is no longer suitable to accept fresh investment into Bonus Bonds, and the scheme will be wound up by the end of October. The procedure of winding up the scheme includes returning payments to bondholders.
âThe scheme will continue to function prior to the start of the wind-up, with two further prize draws expected.â
In 1970, the New Zealand government issued Bonus Bonds through the Post Office. Instead of earning interest or receiving investment profits or losses, each qualified Bonus Bond provides bondholders with one entry into a monthly prize draw in which the scheme’s investment returns are distributed as prizes. The monthly draw’s top prize is $1 million.
The prize draws for September and October are expected to go ahead as planned, and customers can continue to redeem their Bonus Bonds until the winding up process begins. ANZIS, on the other hand, may choose to wind up earlier if there is a high demand for redemptions or if it otherwise believes it is in the best interests of investors.
âInvestors have a couple of options. They can either redeem their Bonus Bonds before the scheme begins to wind down, or they can stay in the scheme and be entitled to a part of the leftover reserves after expenses when the scheme is wound up, according to Mr Kelleher.
Those that stay during the wind-up period will have their investments locked in for the duration of the process, which might take up to 12 months.
âThe board feels that current reserves are sufficient to assure bondholders that their initial investment will be repaid. The reserves are the difference between the value of the scheme’s assets and the demands of bondholders.
With the Covid-19 limits in place, Mr Kelleher advised bondholders to think about whether it was the best time for them to redeem their bonds, and provided information in the FAQs.
Mr Kelleher said that a member’s visit to an ANZ branch was not required right away.