Anderton jumps to head of the Kiwibank's queue

By KEVIN TAYLOR

Kiwibank's proud father, Jim Anderton, became one of the new bank's first customers on Friday when he signed a cheque, handed over a five-figure sum and received in return a green foundation account-holder's card.

But most ordinary New Zealanders wanting to follow the Deputy Prime Minister's lead will have to wait.

Only people in the Hawkes Bay and Palmerston North - or customers willing to travel to those regions - can open accounts with the new, low-fee entry into the banking market.

But Mr Anderton's deposit was made on the seventh floor of the Beehive, in Wellington, and he calls Christchurch home.

"We are making special arrangements for a special customer," said Kiwibank external relations manager Bruce Thompson.

Marketing expert Dr Mark Colgate has criticised Kiwibank for missing a chance to catch potential customers by not opening all its branches simultaneously across the country and by not having software that lets customers open accounts on-line.

Mr Thompson said opening hundreds of branches on the same day was not feasible.

A pilot group of seven was opened in Hawkes Bay and Palmerston North so that any systems problems could be resolved before the main rollout of Kiwibank's expected 300 branches, planned for April and May.



Kiwibank critic and Act MP Rodney Hide also tried to open an account outside the two trial regions on Friday - at a NZ Post branch in Auckland - but was told the bank would not open at the store until April 18 and staff had not yet been trained.

intended doing so. Dr Cullen said his move was a reflection of confidence in the new bank and the competitive package it offered.

Mr Thompson said a free phone (0800 11 33 55) was available for people wanting information on Kiwibank's products and when a branch will open near them.nte

Finance Minister Dr Michael Cullen and his wife, Anne Collins, transferred most of their business to Kiwibank on Friday, but they did so at one of the new Hawkes Bay branches close to where they live in Taradale.

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