2020 MoneyHub Editor's Choice Awards
Celebrating New Zealand’s Best Financial Products and Services
Updated 25 February 2020
Updated 25 February 2020
Tested, Approved and Trusted
Our Editor's Choice Awards Highlight the Best Products from MoneyHub's Research and Guides
- At MoneyHub, we believe you deserve to know about the best-of-the-best financial products and services. Our renowned research team takes the utmost care in helping everyday New Zealanders understand the options available for all their money needs.
- We read the small print, compare the fees and rates and determine the best financial products available. Best of all, our awards are at a granular level, so they mean something and let consumers easily identify the best products.
Our Editor's Choice Awards Highlight the Best Products from MoneyHub's Research and Guides
- Our Editor’s Choice Awards 2020 are the result of countless hours of research that go into every MoneyHub guide.
- We’re proud to publish our exclusive list of the best financial products New Zealand has to offer.
- From credit cards to insurance and investment platforms, each of our winners has earned our utmost respect.
2020 Editor's Choice Awards
Our Top Winners in Each Financial Category cover:
Leading Credit Cards
Best Travel Credit Card - Flight Centre MastercardOur view:
MoneyHub's editor Christopher Walsh says: “We’re huge fans of everything about this card, and even the smaller details offer a lot - free global Wi-Fi access, a reasonable interest rate, low annual fee and free additional cardholders. Right now we don’t see any credit card coming close to offering what the Flight Centre Mastercard offers for New Zealanders who make transactions in other currencies". More details: Flight Centre Mastercard Review |
Best Airline Credit Card - The American Express Platinum Edge Credit CardOur view:
MoneyHub's editor Christopher Walsh says: "The American Express Platinum Edge Credit Card offers extraordinary value, and any savvy New Zealander will easily receive a lot of benefit from using the card. We're big fans of the annual domestic trip freebie, which is arguably worth more than the $149 fee. While the card earns Membership Rewards, the recent boost in Airpoints Dollars conversion gives the best-earning rate in New Zealand at major supermarkets. There's a lot to like, and MoneyHub is a big fan". More details: The American Express Platinum Edge Credit Card Review |
More announcements in early March, including:
- Best Airline Credit Card
- Best Balance Transfer Card
- Best Reward and Benefits Credit Card
- Best Cashback Credit Card
- Best Low-Interest Credit Card
- Best Student Credit Card
- Best Fee-Free Credit Card
- Best Small Business Credit Card
- Best Credit Card Innovation
- Best Credit Card Travel Insurance
Leading Investing Platforms
Best Investing Platform for Beginners - SharesiesOur view:
MoneyHub's editor Christopher Walsh says: Sharesies has met a need to make investing fun and simple for ordinary New Zealanders looking to secure their financial future. Beyond the NZX-listed shares available, the diverse number of funds means you can focus on particular industry sectors in specific countries, such as Australian property, New Zealand property and global emerging markets. Add in socially responsible funds and you have a platform that is all about encouraging long-term investing. We're huge fans of every aspect. More details: Sharesies Review |
Best Investing Platform for International Shares - Hatch InvestOur view:
MoneyHub's editor Christopher Walsh says: Hatch offers a tremendous number of options for exposure to US-listed shares and ETFs, unrivalled by any other New Zealand-based platform. It's low in fees - there are no custodial fees for investments, and you won't pay any account management fees. The number of funds is extensive, which appeals to any investor preference. Hatch is meeting the needs of New Zealanders looking to buy US-listed shares or ETFs not otherwise available via local platforms. More details: Hatch Invest Review |
Best Overall Investing Platform - InvestNowOur view:
MoneyHub's editor Christopher Walsh says: InvestNow keeps improving, and is our investor favourite given its extensive fund options and minimal fees. The recent addition of Morningstar performance tools allow investors to compare the full historical performance of all funds offered by InvestNow. In a market where the likes of popular Vanguard, Fisher Funds and Mint Asset Management have $2,000+ minimum buy-ins, InvestNow drops this to as low as $50 making investing democratic. There's a a lot to like with InvestNow, and MoneyHub believes it is the best general investing platform available in New Zealand". More details: InvestNow Review |
More announcements in early March, including:
- Best Index Fund
- Best ETF Platform
- Best Investing Innovation
- Best Investing App
Leading KiwiSaver Schemes and Funds
Disclaimer: The KiwiSaver funds listed below have been awarded our Editor's Choice due to a number of factors, with recent returns (1 year, 3 year, 5 year and 10 year) being part of our consideration. The selection is journalistic in nature and does not constitute financial advice, nor does it imply the funds listed have the best long-term performance, nor are we recommending KiwiSaver members join or switch into any fund. Always seek professional financial advice before making any investment decision. We recommend the Sorted FundFinder tool as a starting point for KiwiSaver.
Best Growth Fund (Active Investment) - Generate Growth FundOur view:
MoneyHub's editor Christopher Walsh says: The Generate KiwiSaver scheme is orientated around one single goal - building the biggest KiwiSaver fund possible for each investor investor whilst tailoring to differing degrees of risk aversion. The Growth fund still retains some assets in income-producing, and is less aggressive than its Focused Growth fund sibling. Operating since 2013, the scheme currently holds approximately 2% of the total KiwiSaver funds invested. Despite its small position, the funds are becoming popular with existing KiwiSaver members looking for better returns. More details: Generate KiwiSaver Review Honourable Mentions: JUNO Growth Fund and Milford Active Growth |
Best KiwiSaver Member Benefit - Simplicity MortgagesOur view:
MoneyHub's editor Christopher Walsh says: Low-rate and zero-fee mortgages are an unprecedented perk for any KiwiSaver member, and since launching in late 2019, demand has been insatiable with monthly ballots awarding winners. A floating rate may not appeal to every home buyer given the risks, but for those suited to the offer, having access to cheap lending is a defining KiwiSaver member benefit. More details: Simplicity Review |
Best KiwiSaver Scheme for New Members - SimplicityOur view:
MoneyHub's editor Christopher Walsh says: "Simplicity is arguably New Zealand's most talked-about KiwiSaver scheme, with its rock-bottom management fees and index-focused funds. Its commitment to return all profits to investors is unique, as its 15% allocation of management fee revenue to charitable purposes. With historically pleasing fund returns and innovative products, KiwiSaver offers something for anyone looking for a passive index fund-driven fund". More details: Simplicity Review Honourable Mentions: (Actively Managed Funds): Fisher Funds, JUNO KiwiSaver and Milford Asset Management |
More announcements in early March, including:
- Best Growth Fund (Index Tracking Investment)
- Best Mixed Asset Fund
- Best Cash Fund
- Best Default Fund
- Best Overall KiwiSaver Scheme - Active Investment
- Best Overall KiwiSaver Scheme - Index Tracking Investment
- Best KiwiSaver Innovative Investment
Leading Bank Accounts and Banking Products
Best Everyday Account - Heartland Bank YouChoose AccountOur view:
MoneyHub's editor Christopher Walsh says: "Heartland's innovative YouChoose product offers the best of both worlds to everyday account holders. Few banks offer interest on credit balances, with the current 1.70% being very generous given New Zealand's historically low interest rates. We like the transparent 10% p.a. overdraft offer, unique given most banks have a 'margin rate' applied to their base overdraft lending rates. While you won't get a debit card with the account, Eftpos comes and standard. Overall, there's a lot to like, and MoneyHub is a big fan". More details: Heartland YouChoose Honourable Mentions: Kiwibank Free Up and Westpac Everyday |
Best Bank for Students - ​ASB Tertiary Student PackageOur view:
MoneyHub's editor Christopher Walsh says: "The ASB offers fantastic benefits with its free debit card and free fee Visa Light credit card as well as a free chips at McDonalds® promotion, and a reasonably priced overdraft facility fee. You'll pay around $30/year for a $2,000 overdraft facility if you use it or leave it untouched. The ASB also has a number of branches, some on-campus. Student bank accounts are competitive, but the ASB offers a little bit extra that makes it a worthwhile option". More details: ASB Tertiary Student Package Honourable Mentions: Co-operative Bank and Westpac School Leave Pac |
Best Debit Card - TransferWise Debit Mastercard®Our view:
MoneyHub's editor Christopher Walsh says: "TransferWise's debit card is the fresh arrival into New Zealand and delivers more bang for buck when transacting beyond the NZD. It offers free cash withdrawals up to NZ$350 (or NZD equivalent in foreign currencies) every 30 days, and has an easy-to-use app. I Innovations such as TransferWise's app give cardholders instant transaction notifications on their phone, as well as the ability to block and unblock the card in case of misplacement or loss. There's a lot to like, and MoneyHub is a big fan". More details: TransferWise Debit Card |
More announcements in early March, including:
- Best Bank for Savings
- Best Bank for Students
- Best Bank for Kids
- Best Bank for Business
- Best Call Account
- Best International Money Transfer
- Best Bank
- Best Credit Union
- Best Banking App
Leading Personal Loan Products and Credit Services
Best Lending Innovation - HarmoneyOur view:
MoneyHub's editor Christopher Walsh says: "Harmoney offers transparency borrowing for anyone looking to take out a personal loan. We're big fans of the simple process, completed 100% online. Any potential borrower can get a "yes" or "no" from Harmoney within 24 hours with an interest rate specific to their application. Borrowers can compare the Harmoney offer with that of others as it's valid for up to 60 days. With competitive loan fees and no early repayment fees or penalties, Harmoney brings leading innovation to the New Zealand personal loan market". More details: Harmoney |
Best Credit Score Provider - Credit SimpleOur view:
MoneyHub's editor Christopher Walsh says: "Credit Simple offers an easy-to-access credit score and credit report service, and is a market leader given its free service. Ultimately, credit reporting needs to be transparent and accessible for every New Zealander, and Credit Simple delivers that with an easy-to-use interface". More details: Credit Scores |
More announcements in early March, including:
- Best Personal Loans for Debt Consolidation
- Best Personal Loans for Good Credit
- Best Car Finance Provider
- Best Alternative Lender
Leading Insurance Products
More announcements in early March, including:
- Best Car Insurer
- Best Home Insurer
- Best Landlord Insurer
- Best Contents Insurer
- Best Phone Insurer
- Best Pet Insurer
- Best Insurance Innovation