6 November, 2015
Kiwis now have access to lower cost options for credit cards, travel, health, car, home and contents insurance with today’s launch of Warehouse Money, The Warehouse’s new financial services brand.
- The Warehouse Money Visa Card (Red Card) offers a five percent discount* in all The Warehouse (Red Sheds) stores and online, and
- The Purple Credit Visa Card earns ‘2 Purple Dollars’ for every $150 spent at The Warehouse (instore and online) and ‘1 Purple Dollar’ for every $150 spent wherever Visa is accepted, that can be redeemed at any The Warehouse store (not online)
As part of Warehouse Money’s low cost promise, neither card will have establishment or annual fees.
- Travel insurance is provided by nib, offering three levels of cover: Comprehensive, Frequent Traveller and Essentials Plus,
- Health insurance, also from nib providing three levels of cover: Everyday for Everyone Cover, Hospital Cover and Hospital and Specialist Cover,
- Car insurance from Vero includes Third Party Property Damage Cover, Third Party Fire and Theft Cover and Everyday Plus Cover (comprehensive cover),
- Home insurance provided by Vero includes Everyday Cover and Everyday Plus Cover, and
- Contents insurance also from Vero, offers two levels of cover, Everyday and Everyday Plus.
Warehouse Money products and services will be available for purchase online, via post and over the phone, and customers will be able to get all the information they need to know at any The Warehouse store.
The Chief Executive Officer of The Warehouse Group Financial Services, Mark Yeoman, says while the group has offered financial services for some time, Warehouse Money marks a new level of commitment to customers and offers Kiwi families a range of financial services at everyday low prices.
“We’ve designed these products and services specifically for our customers which we think will give everyday customers real value, and help us to develop a leading New Zealand retail financial services company” he said.
Mr Yeoman said that all Warehouse Money products supported and aligned with New Zealand’s Responsible Lending Code and that the company took its commitment to being a responsible lender very seriously.
“Our focus is not so much to grow the debt or credit market in New Zealand, but to provide everyday customers and credit card users more choice and products that are better-suited to their needs,” he said.
Mr Yeoman said that he expected the no admin fees feature to be attractive to customers.
“Customers don’t like fees, and they especially don’t like it when fees turn up as surprises because they weren’t planning for them. That’s why we are introducing cards with no annual fees or administration-type fees.” he said. “We think that our everyday customers will like that, and recognise that every little bit helps when it comes to thinking about your money”.
He said that while these services would appeal to existing customers of The Warehouse, they were also likely to attract new customers as well.
“While we’ve designed these two cards with our Retail customers in mind, we hope that they will be attractive to any credit card user. Being Visa cards they can be used wherever Visa is accepted, and our rewards card earns rewards wherever you shop,” he said.
The new Warehouse Money brand launched today represents smart and simple financial solutions to help New Zealanders make more out of their everyday. Aligned with The Warehouse’s passion for helping Kiwi families Flourish, Warehouse Money will help customers feel reassured that they’re making a wise choice in using a financial solution that enables their family to prosper.
A family of ten characters represent the brand, and will debut on TV this Thursday 12th November, 2015.
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These days many New Zealanders are turning to accommodation websites like Airbnb, hosting guests in their homes to gain a bit of extra income or assist with their mortgage repayments.
By Adam Heath
Executive General Manager, Portfolio & Product