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Thread: Bonus Bonds

  1. #21
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    Quote Originally Posted by stoploss View Post
    With interest rates where they are the prize pool
    is most likely even less these days . It’s really just a punt on maybe you will get the big one ...
    I don't know of any other punt where you can get your stake back if you're not winning!

    I don't hold.

  2. #22
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    Quote Originally Posted by justakiwi View Post
    Resurrecting this thread, as I am finding myself once again contemplating this as an option. Heartland just dropped their Direct Call interest rates which now means my three accounts with them are earning sweet fanny Adams. These are savings accounts set up for specific goals eg: eventual car replacement, and general long term savings. I have emergency funds elsewhere.

    Do those of you who contributed to this thread before, still “Park” funds in BB or have you given up on that idea?
    I checked out Bonus Bonds some time ago, and decided not to put my money there. Although they have always paid out one dollar for every dollar you put in, this can change. If their investments dropped substantially they could pay out less than 100%, as it just a managed fund. A few people are very lucky and get frequent small prizes with Kiwisaver, but it is like winning raffles some people seem to be luckier than others.

  3. #23
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    I used to buy some every month instead of doing lotto.
    Cashed them all out a few years back. Had quite a few little wins but nothing over 100 dollars. At least got the stake back, unlike lotto

  4. #24
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    I had 30k in them for a year once going back a couple of years. From memory return was less than 1% before factoring inflation into the mix so not great but it’s the luck of the draw.

  5. #25
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    I cashed out all my Bonus Bonds 2 years ago when I received them as a gift about 15 years ago. I did notice the disbursements all stopped for several years. It seems when any contribution was made earlier on, I was more likely to receive a disbursement. I suppose after a few years the computer algorithm forgets about you and pays you nothing.

  6. #26
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    Quote Originally Posted by SBQ View Post
    I cashed out all my Bonus Bonds 2 years ago when I received them as a gift about 15 years ago. I did notice the disbursements all stopped for several years. It seems when any contribution was made earlier on, I was more likely to receive a disbursement. I suppose after a few years the computer algorithm forgets about you and pays you nothing.
    That seems to be a very common observation. Almost like it is rigged to give you an early payout to encourage more investment

  7. #27
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    https://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=12359615

    ANZ to wind up $3 billion Bonus Bonds scheme by the end of October.
    Winding up the scheme will mean money is returned to bondholders.
    Last year the Herald reported that bonus bonds were in the sights of the financial watchdog the Financial Markets Authority as part of its work around legacy products that may no longer be suitable for investors.
    The FMA's response came after the Herald queried the regulator over complaints and concerns about Bonus Bonus after revealing an ANZ staffer had written to the bank's chief executive and board concerned about the product and calling it the "biggest rort in financial services in New Zealand" and asking for the fees to be cut.

    There is around $3.25 billion invested in Bonus Bonds which is managed by ANZ Investment Services - a subsidiary of ANZ bank.
    Around 1.3 million Kiwis have bond bonds. They were launched by the New Zealand Government through the Post Office in 1970.
    Kelleher said investors had two choices.
    "They can redeem their Bonus Bonds before the scheme starts to wind up, or stay in the scheme and be entitled to a share of the remaining reserves, after expenses, when the scheme is wound up," he said.

  8. #28
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    Is there anywhere to go to check if actually have any?
    Not sure if all mine were ever redeemed

  9. #29
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    Quote Originally Posted by ratkin View Post
    Is there anywhere to go to check if actually have any?
    Not sure if all mine were ever redeemed

    How do I find my old bonus bonds NZ?
    Give us a call on 0800 266 374 - we'll verify your identity over the phone. Let us know what information you have about your Bonus Bonds so we can try to locate your bondholding in the Bonus Bonds database. If we can locate your old bondholding, ask us to update your personal details.

    Find dormant or forgotten Bonus Bonds

  10. #30
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    Thanks for that

  11. #31
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    Quote Originally Posted by ratkin View Post
    Thanks for that
    https://www.bonusbonds.co.nz/dormantBonds.html
    Then, if you're an ANZ customer:

    1. Give us a call on 0800 266 374 - we'll verify your identity over the phone
    2. Let us know what information you have about your Bonus Bonds so we can try to locate your bondholding in the Bonus Bonds database
    3. If we can locate your old bondholding, ask us to update your personal details
    4. Write down your existing bondholder number, then come back to this site and sign up for MyBonusBonds - the convenient online way to buy and sell Bonus Bonds.

    Or if you're not an ANZ customer:

    1. Gather up any information you've found and pop into your local ANZ branch along with some identification - find out what you need
    2. Using your info, we'll try to locate your bondholding in the Bonus Bonds database
    3. If we can locate your old bondholding, ask us to update your personal details
    4. Write down your existing bondholder number, then come back to this site and sign up for MyBonusBonds - the convenient online way to buy and sell Bonus Bonds.

  12. #32
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    Another $3.25 Billion looking for a new home...Hmmm.
    No butts, hold no mutts, (unless they're the furry variety).

  13. #33
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    Quote Originally Posted by Beagle View Post
    Another $3.25 Billion looking for a new home...Hmmm.
    How many will ask to redeem before the close off date - might leave my $5 invested for now better chance of a prize with less numbers :-)

    Said may take up to 12 months to payout, but yes now what shares are likely to benefit???

  14. #34
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    Quote Originally Posted by Beagle View Post
    Another $3.25 Billion looking for a new home...Hmmm.
    And it might already be flying out of their vault. Haven't been able to get on to their site all morning.

  15. #35
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    Quote Originally Posted by fungus pudding View Post
    And it might already be flying out of their vault. Haven't been able to get on to their site all morning.
    And still can't - well I can't!

    https://www.nzherald.co.nz/personal-...ectid=12359615
    Last edited by Jay; 26-08-2020 at 03:17 PM. Reason: added link

  16. #36
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    Quote Originally Posted by Jay View Post
    Looks like the rush is on. I hope there's a bit left for me. (and you of course)

  17. #37
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    They have made it difficult enough to track down long lost bonds that it is too much bother, probably the idea.
    You would think name and address would be enough

  18. #38
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    I'd say there would be a fair amount never redeemed, can't find etc. What happens to that money?

  19. #39
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    Quote Originally Posted by Sideshow Bob View Post
    I'd say there would be a fair amount never redeemed, can't find etc. What happens to that money?
    I think it will end up on the IRD unclaimed money list
    https://www.ird.govt.nz/pages/unclai...about/a-z-list

  20. #40
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    https://www.stuff.co.nz/business/mon...of-bonus-bonds
    Why nobody should mourn the end of Bonus Bonds
    In the 12 months to the end of March 2019, Bonus Bonds paid out $39.6 ​million in prizes on the $3.3 billion of $1 Bonus Bonds on issue.
    The fees and expenses paid out on the scheme to ANZ was $40.7m​.

    The Government is planning to introduce laws to require the “fair” conduct of banks. Each will have to operate under a “principle of fair conduct” by treating consumers “fairly, including by paying due regard to their interests”.

    Bonus Bonds may have sat uncomfortably next to that legislation given the scheme cost more to run than it paid out in prizes.

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