Rates and Fees

Whats it going to cost?

Rates and Fees for PhoneMe.Money

Valid as of 1-Oct-2021.
Users will be notified at least 5 working days prior to any changes.

A quick look at our fees

PhoneMe.Money doesn't charge for basic services

  • Making purchases from a PhoneMe.Money merchant from your PhoneMe.Money account.
  • Sending money to a PhoneMe.Money charity, school or church from your PhoneMe.Money account.
  • Receiving money into your PhoneMe.Money account.
  • Topping up your PhoneMe.Money account from your NZ Bank Account
  • PhoneMe.Money has NO monthly or annual fees.

Zero Fee features and other services

  • Monthly fee - $0
  • Per purchase (by you) - $0
  • Per payment (to you) - $0
  • Topup balance - $0
  • Customer service (automated or live agent) - $0
  • Inactivity- $0

Fees for Verified User features and other services

  • Withdrawal from PhoneMe.Money to a bank account - 1%* (minimum fee $0.10) *First month 0%, (minimum fee of $0.10 per withdrawal still applies).
  • Pay to another person's bank account incurs same fee as withdrawal fee - 1% *(minimum fee $0.10) *First month 0%, (minimum fee of $0.10 per withdrawal still applies).

Excluded services - not provided and not allowed

  • No overdraft/credit feature.
  • Your funds are not guaranteed or eligible for insurance. They are entirely at your own risk.
  • No wire transfers / international payments
  • No currency exchange
A deeper look at all fees

Opening and holding an account

  • Account setup $0.00. No fee to setup an account.
  • Monthly fee $0.00. No monthly fees.
  • Spending money from your balance
  • Purchases $0.00. No fee for purchases.
  • IOU's and UOMe's are free (informational not financially binding)

Adding money to your balance

  • Transfer from bank account $0.00. No fee when you add money to your PhoneMe.Money account.
  • Receive money from PhoneMe.Money users $0.00. No fee for you when PhoneMe.Money users send you payments using PhoneMe.Money.
  • Receive refund $0.00. No fee for you when someone sends you a refund.
  • Request refund $0.00. No fee for you when you request a refund.
  • Sending messages. No fee for you when you request a refund.

Timeliness

  • All transactions within the wallet - instant
  • Topup - The money is typically available in 1 hour or overnight (next business day). Depending on the bank it can be minutes.
  • Withdrawal - The money is typically available in 1 hour or overnight (next business day).