Originally Posted by
Xerof
Rabodirect are paying 4% for new call money, for a limited time only, so they heeded your call Winner :D
Liz, my concerns on HNZ are general, not specific, and are based on my recent experiences gained from cleaning up the mess in a finance company. They will not be immune to credit deterioration, and in certain sectors this is very severe. This is now apparently hitting mainstream banks ( see the story on James Smith building, where ANZ had first mortgage, and will not recover all of their money) Deterioration is also becoming apparent in 'safe' lending areas such as plant and equipment, where cashflow to service these loans is the issue.
I also do not buy the story that they will get a banking license, but happy for them if they do.