According to Rabobank, RaboPlus offers New Zealanders a high interest, no fees, on-call savings account as well as term deposits and access to managed funds. The bank is offering a RaboPlus savings account paying interest of 7.35% per annum on call.
Rabobank stressed that Security would be a strong feature of the new service. The company explained that RaboPlus customers will be issued with a DigiPass – an internet security token developed by security partners Vasco which must be used in conjunction with a personal identification number to access their account. The token generates a new one-time passcode every 36 seconds and, when combined with the user’s PIN, creates a log-in combination that is valid only for that particular user at that moment in time.
Announcing the launch, Rabobank New Zealand CEO, Bruce Dick, said while Rabobank remains firmly committed to the food and agribusiness sector, the new online service will broaden the bank’s activities into the mainstream market.
Rabobank Group has already established successful direct banking businesses in Belgium and Ireland.