2021 Editors Choice Awards
We Recognise the Best New Zealand Financial Products and Services in this Dedicated Guide
Updated 29 April 2021
Our Awards. And Why They Matter.
Our Editor's Choice Awards Highlight the Best Products from MoneyHub's Research and Guides
Our Awards. And Why They Matter.
- 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.
- Our awards are not based on 'surveys' or 'reader views'. We don't award 'star ratings' or 'medals'. Instead, we read the small print, interpret performance and compare fees and rates to determine the best financial products available.
- Our awards are at a granular level - there's no confusion about what they mean. This lets you identify what we believe are the best products and services as of March 2021.
Our Editor's Choice Awards Highlight the Best Products from MoneyHub's Research and Guides
- Our Editor’s Choice Awards 2021 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.
- We cover credit cards, insurance, KiwiSaver, lending, consumer finance, banking and investment platforms; each of our winners has earned our utmost respect.
- MoneyHub may work with award winners, receiving a licensing fee from winners for the right to use the MoneyHub badge in their own marketing materials.
2021 Editor's Choice Awards
Our Editor's Choice Awards cover nine categories:
Leading Investment Platforms
There have never been more investment platforms and tools available. Our favourite platforms below stand out where it matters and aim to grow your wealth in the long-term with innovative and cost-effective offerings.
Favourite US Investing Platform - HatchOur view:
MoneyHub's editor Christopher Walsh says: "Hatch offers a tremendous number of options for exposure to US-listed shares and ETFs. With a focus on long-term investing, New Zealanders have options such as auto-invest and maximise returns by avoiding ongoing account management fees. Hatch is meeting the needs of New Zealanders looking to invest long-term in US-listed shares or ETFs". |
Favourite Index Fund Platform - KernelOur view:
MoneyHub's editor Christopher Walsh says: "Kernel Wealth's focus is on long-term investing, given its product is index funds. The two new Kensho funds specifically cover market disruptors; without buying into an ETF. For investors who prefer low-fee funds backed by a team who specialises in making proven (and promising) market opportunities available, Kernel Wealth delivers eight funds designed to deliver positive returns over a 5 to 10-year period". |
Favourite Low Cost Investing Platform - InvestNowOur view:
MoneyHub's editor Christopher Walsh says: "InvestNow keeps improving, and is our low-cost/maximum-choice favourite given its extensive fund options and minimal fees. The recent addition of Morningstar performance tools allows investors to compare the full historical performance of all funds offered by InvestNow. In a market where the likes of popular Vanguard, Pie Funds, 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 lot to like with InvestNow, and MoneyHub believes it is the best low cost investing service available in New Zealand". |
Favourite US Trading Platform - StakeOur view:
MoneyHub's editor Christopher Walsh says: "Stake emulates the (best points of) neo-brokers like Robinhood by offering 0% commission brokerage, no ongoing account fees and purposeful research tools. Stake has grown on the back of promoting its fee-free trade feature and is a serious player among New Zealanders focused on short and medium-term share trading, as well as long-term investing". Hatch vs Stake: Please note, despite Hatch and Stake using the same dealer-broker, we believe Stake is very different by way of its consumer-facing product. Hatch, per their communications, is not a proponent of day trading, whereas Stake, with free trade fee, is geared toward investors who trade frequently (as well as invest for the long term). |
Favourite Kids Investing Account - Sharesies (Kids Account)Our view:
MoneyHub's editor Christopher Walsh says: "Investment platforms turned their attention to kids in late 2020 and Sharesies' dedicated offering is unrivalled when it comes to diversification. Best of all, there's no ongoing fee and parents can help with auto-investing to compound potential returns. We welcome a platform that puts kids first". |
Favourite Crypto Retailer - Easy CryptoOur view:
MoneyHub's editor Christopher Walsh says: "MoneyHub is risk-averse in every way, but we realise the need for New Zealanders to know about safe and trusted cryptocurrency platforms. Easy Crypto stands out as the most accessible to the wider New Zealand, removing the need for large buy-ins or foreign exchange conversions. While we would never advocate cryptocurrency as an investment, Easy Crypto provides a secure and low-fee platform to anyone wanting to get exposure to this popular (but unproven) asset class". |
Leading KiwiSaver Schemes and Funds
KiwiSaver is our favourite investment product for so many reasons. We believe there is only upside for anyone who joins and contributes. The KiwiSaver plans and schemes below stand out where it matters and offer funds that set them apart from a very crowded market.
Favourite Index KiwiSaver Growth Fund - Simplicity GrowthOur view:
MoneyHub's editor Christopher Walsh says: "Simplicity is arguably New Zealand's most talked-about KiwiSaver scheme, and its Growth Fund continues to perform alongside (or better than) many actively managed Growth Funds. With its rock-bottom management fees (0.31% p.a.) and $20/year member fee, the Growth Fund is focused on returns without judgement". |
Favourite Active KiwiSaver Growth Fund - JUNO KiwiSaver Growth FundOur view:
MoneyHub's editor Christopher Walsh says: "Right now, there are around thirty KiwiSaver growth funds, but JUNO's version is performing well ahead of the market, which makes it an attractive proposition. With the proven Pie Investments team overseeing the fund's performance, there is a proven record of investment management. We like that the fees are simple - there is one fixed monthly fee based on your fund size. You won't be charged membership fees, nor are there performance fees (both of which are common in high-performing actively-managed growth funds)." |
Favourite KiwiSaver Innovation - Nikko AM (ARK Innovation Fund Launch)Our view:
MoneyHub's editor Christopher Walsh says: "Nikko AM's innovated to meet the needs of KiwiSaver investors looking to go long on a dedicated US-based innovation fund, with recent holdings including Tesla, Square (ecommerce/payments), Zillow (online real estate) and Shopify (ecommerce), among other companies. Throughout 2020, the underlying ETF has produced strong results that are arguably unable to be repeated. However, we recognise Nikko AM's innovation by creating this tech-weighted KiwiSaver fund". |
Favourite Aggressive Fund - Booster Geared Growth FundOur view:
MoneyHub's editor Christopher Walsh says: "If you are comfortable with taking an aggressive approach to your KiwiSaver retirement fund, the Booster Geared Growth Fund has a solid track record. It's not without its risks, and this is as far away from an index fund as you can get. Booster is a top-performing KiwiSaver scheme, with a solid track record. For those comfortable paying higher-than-average fees with the aim of earning above-market returns (and are happy to ride the markets), the Booster Geared Growth Fund is as aggressive as they come". |
Favourite New KiwiSaver Scheme - Kōura WealthOur view:
MoneyHub's editor Christopher Walsh says: "We like ANY KiwiSaver scheme that focuses on saving as much as possible - the problem is very few push this agenda. Its funds are index-based and you can mix and match to suit your retirement views. We believe most KiwiSaver members aren't saving enough, especially when compared to the retirement savings rates of Australia and the UK. If you want to control how much you retire with, rather than just arrive at a lump sum, kōura helps you save the right amount. |
Most Charitable KiwiSaver Scheme - SimplicityOur view:
MoneyHub's editor Christopher Walsh says: "Simplicity is, at its heart, a charity that is committed to its investors (to minimise fees and maximise returns) while redistributing a non-insignificant amount of money month after month. Simplicity remains a popular KiwiSaver scheme which means as people contribute to it, and as it reports positive returns, its funds under management (i.e. total invested money) will increase. This will compound the dollar amount it can donate. This means great things for the charities Simplicity supports". |
Favourite KiwiSaver Scheme - MilfordOur view:
MoneyHub's editor Christopher Walsh says: "It's hard to suggest a more robust, trusted and proven KiwiSaver scheme than Milford. With 10+ years of returns, Milford's investment managers have led the market and delivered strong returns for their KiwiSaver members. While we can't attest to any other awards, it is worth noting that Milford won Morningstar's New Zealand Fund Manager of the Year for 2021. For many reasons (including, but not limited to, fund performance, transparency, fund choice diversification, the management company's ownership structure and client communications), Milford is our favourite KiwiSaver scheme. |
Leading Bank Accounts and Banking Products
New Zealand banks innovate on a spectrum - our favourite products listed below go beyond the norm and champion the consumer. It may come as less of a surprise that most of our favourite products listed below are provided by challenger banks. Nonetheless, we need more innovation in banking, and our list is recognition of the most cost-effective offerings.
Favourite Bank for Savings - Heartland BankOur view:
MoneyHub's editor Christopher Walsh says: "Most banks no longer focus on providing an attractive everyday savings account - Heartland Bank is the exception. Beyond offering consistent above-market deposit interest rates, Heartland protects account holders from sky-high overdraft fees by charging a flat 10% p.a. which is well below market". |
Favourite Student Bank Account - ASB Bank Tertiary Student PackageOur view:
MoneyHub's editor Christopher Walsh says: "The ASB goes the distance for students, with fantastic benefits and a reasonably priced overdraft facility fee. Best of all, the ASB also has a number of branches, some on-campus, which makes university life a bit easier." |
Favourite Bank for Kids - The Co-operative Bank Youth AccountOur view:
MoneyHub's editor Christopher Walsh says: "The Co-operative Bank's generous young saver interest rates have long been its signature drawcard for its kids accounts, but there's a lot more to like. Most parents would like to know where their children are spending their money, so parental access is part of the package. The innovative offering will help children to see the benefits of saving (with interest payments) and money management (with internet banking)". |
Favourite Credit Union - First Credit UnionOur view:
MoneyHub's editor Christopher Walsh says: "First Credit Union is a lender who does more for the consumer - with no early repayment fees for any loan, no loan application or issue fees and 100% re-investment of profits to help keep services affordable. Unlike most New Zealand banks, it doesn't pay fat dividends to shareholders. Instead, it helps the local community with more affordable services. We really like that anyone who takes a personal loan must also contribute at least $5/week to a savings account - this means every borrower finishes their loan with savings". |
Favourite Money Transfer Service - WiseOur view:
MoneyHub's editor Christopher Walsh says: "We believe Wise outperforms traditional money transfer services by delivering value for money, convenience and speed. Whether you are looking to make a one-off transaction or send money overseas regularly, Wise beats the banks and PayPal". |
Leading Credit and Debit Cards
We believe most credit cards on offer lack rewards, have too high an interest rate and charge too much as an annual fee. However, for those who look, there are some value-adding credit cards on offer. We list the best of the best below.
Favourite Year-Round Balance Transfer Credit Card - ASB Visa LightOur view:
MoneyHub's editor Christopher Walsh says: "Other banks routinely offer short-lived balance transfer deals to win new customers. The ASB, and full credit to them, offers their Visa Light 0% six-month balance transfer offer year-round. With a $0 fee, low long-term interest rate for purchases and six-months interest free on significant purchases, we believe this is a credit card that makes a difference. We don't often get enthusiastic about credit cards, but the ASB Visa Light is one of our favourites". |
Favourite Airline Credit Card - Kiwibank Platinum Airpoints VisaOur view:
MoneyHub's editor Christopher Walsh says: "The Kiwibank Platinum Airpoints Visa is a long-standing achiever, earning a generous amount of Air New Zealand benefits from every spend. It won't be for everyone, but our view is that its ease of use and benefits meet the needs of every New Zealander who wants a card accepted everywhere". |
Favourite Rewards Credit Card - The American Express Platinum Edge CardOur view:
MoneyHub's editor Christopher Walsh says: "We're big fans of the American Express Platinum Edge Card for many reasons. No other credit card offers so much flexibility and generosity, and as more major retailers take American Express, cardholders will compound their rewards and cashback without friction. The free annual domestic flight is an added perk to make this the ultimate rewards and cashback credit card for anyone earning over $50,000 a year". |
Favourite Low-Interest Credit Card - Kiwibank Low-Interest VisaOur view:
MoneyHub's editor Christopher Walsh says: "This is our favourite credit card for anyone who needs a credit card but, for whatever reason, can't always clear the balance. We believe that the low-rate is, by definition, a low rate and a very fair one considering most others charge a circa 20% p.a. interest rate. The low annual fee makes the card an affordable option". |
Favourite No Annual Fee Credit Card - The American Express Airpoints CardOur view:
MoneyHub's editor Christopher Walsh says: "American Express' free credit card generously offers a 1% reward rate, unrivalled among other card issuers. While it is an Airpoints-earning card, the choice of awards offered is extended to cover thousands of options via the Airpoints online store. The card has a lot of power and no annual fee, and an interest rate that's in line with the market". |
Favourite Travel Debit Card - Wise Platinum MastercardOur view:
MoneyHub's editor Christopher Walsh says: "We do not know of a better debit card that offers cardholders so much for so little. New Zealanders are routinely charged too much in fees when paying in foreign currency, whether it be online or while travelling overseas. Wise delivers a solution that cuts the fees, gives you an app to track/block/review your card use, and no-ATM fees (within limits). It's a perfect card for anyone in New Zealand or looking for the ultimate travel money card without the fees, risk and inconvenience". |
Leading Personal Loan Products and Credit Services
Personal lenders in New Zealand offer rates and service from excellent to terrible, and sadly, there is far too much of the latter. MoneyHub continues to be approached by lenders with appalling reputations for 'promotion' - we would never provide coverage to lenders who directly or indirectly damage the communities they operate in.
Thankfully, there is a handful of personal lenders who excel at looking after their customers. For example, one lender (Lending Crowd) offers secured loans with interest rates as low as 5.03%. Another lender (First Credit Union) doesn't charge application fees or early repayment penalties. Our shortlist below recognises those we believe have the borrower of the consumer at heart.
Thankfully, there is a handful of personal lenders who excel at looking after their customers. For example, one lender (Lending Crowd) offers secured loans with interest rates as low as 5.03%. Another lender (First Credit Union) doesn't charge application fees or early repayment penalties. Our shortlist below recognises those we believe have the borrower of the consumer at heart.
Favourite Peer to Peer Lender - Lending CrowdOur view:
MoneyHub's editor Christopher Walsh says: "It's arguable that Lending Crowd is New Zealand's best personal lender despite the fact most people haven't heard of it. We hear Lending Crowd talked about by other finance companies who are all too aware of its ability to craft a niche and help those with strong affordability. Borrowing is, generally, expensive - Lending Crowd continues to impress us with how they operate". |
Favourite Car Loan Lender - Simplify LoansOur view:
MoneyHub's editor Christopher Walsh says: "Simplify doesn't muck around with debt consolidation, personal lending or lifestyle lending. Instead, it delivers affordable car loans to hundreds of New Zealanders every month. We routinely hear from MoneyHub users about their (positive) experiences - rare in an industry which has historically not been the most transparent". |
Favourite Personal Lender - First Credit Union
MoneyHub's editor Christopher Walsh says: "First Credit Union's personal loans put the customer first - with no early repayment fees, loan application or issue fees and branch service available (if you live locally in Waikato and the Bay of Plenty). We really like that anyone who takes a personal loan must also contribute at least $5/week to a savings account - this means every borrower finishes their loan with savings in the bank to help them on their financial journey". |
Favourite Online Lender - HarmoneyOur view:
MoneyHub's editor Christopher Walsh says: "We like lenders that provide highly competitive interest rates and fixed fees - Harmoney champions this in the mass market. Harmoney innovated personal lending when they launched in 2014 with yes/no assessments within 24 hours, and their reputation and customer loyalty has seen them exponentially grow their reach. Other mainstream lenders struggle to offer the rates and deliver the speed of Harmoney". |
Leading Insurance Providers
Insurance is a tricky market - there is no "best" car insurer, nor is there one insurer who always offers the lowest prices for home and contents. For this reason, it's impossible to single out one provider in crowded markets such as car, home and contents. Instead, we've listed our favourite insurers (and products), which go beyond the standard policies and deliver real value and benefits to a policyholder.
Car Insurance Innovation - GoCarma by TowerOur view:
MoneyHub's editor Christopher Walsh says: "Excesses heavily influence the annual cost of an insurance policy. Tower's innovative GoCarma app allows policyholders to discount any potential excess costs by doing one thing - driving well. With up to $300 excess reduction offered for the best drivers, policyholders who consistently drive carefully will get a lot of upside should they later need to claim. Insurance isn't an industry that's innovated too often in New Zealand, but we believe GoCarma is a strong signal of things to come". |
Favourite Pet Insurer - PetplanOur view:
MoneyHub's editor Christopher Walsh says: "Deciding on a favourite insurer is, for most products, impossible. Pet insurance is not different, given the various cat and dog breeds, ages, locations and pre-existing health. Despite this, Petplan dominates the New Zealand pet insurance market and, based on everything we've seen, read and heard, it's a position we believe it deserves to be in. Unlike many other pet insurers which charge a co-payment to process a claim, Petplan does not (except for older animals, i.e. above 8 years of age). Petplan's commitment to $150 excesses means there are no surprise bills should disaster or tragedy strike a loved pet. The fixed excess anticipates an already stressful time, and reduces the financial worry". |
Favourite Dental Plan Provider - LuminoOur view:
MoneyHub's editor Christopher Walsh says: "Lumino innovates with its My Dental Plan, with a cost of less than $1/day. While the annual fees charged don't include dental work, Lumino's reputation supports its position as a trusted dentist with practices all over New Zealand. While it's reasonable to believe Lumino's My Dental Plan is a revenue and loyalty generator, the pricing of the services is discounted and offers identifiable value for money. Preventative dental care keeps teeth healthy, but a trip to the dentist is often something that is routine to most New Zealanders. Lumino's approach is to make sure plan holders regularly visit their local practice to pre-empt any dental problems before they become big issues". |
Leading Phone and Mobile Plans
We know one thing - the cost of phone plans varies significantly between providers despite the services being nearly identical. For this reason, we have one favourite provider that specifically targets the consumer market. That provider is Skinny.
Favourite SIM-only Mobile Network - SkinnyOur view:
MoneyHub's editor Christopher Walsh says: "Skinny is, arguably, a five-star service at a 2-star price and a welcome alternative to the established network operators. Customer service is largely web-based (although there is a free phone to call). Skinny delighted its customers over the 2020-21 summer with free data weekends. We see Skinny gaining market share with its first-rate product, and it deserves to do so". |
Leading Consumer Finance Services
We showcase the best and most-helpful consumer services that champion the consumer and are offered for no cost. From budgeting apps, 0% interest loans to comprehensive support, these providers go above and beyond by delivering a high-quality service with nothing but benefits to its user.
Favourite Budgeting App - mybudgetpal by BoosterOur view:
MoneyHub's editor Christopher Walsh says: "mybudgetpal is free for everyone, regardless of whether you're a client of Booster or not. MoneyHub users repeatedly tell us how great it is, and what matters most to us is that there's no tie-in to any bank, nor do you need to pay for it. New Zealand is expensive and money needs to be allocated carefully - mybudgetpal avoids the bore of a spreadsheet and makes it app-tastic. We rarely get this excited about a budgeting tool, but in this case the product is so authentic we've made an exception". |
Favourite Assistance Service - Citizens Advice BureauOur view:
MoneyHub's editor Christopher Walsh says: "The Citizens Advice tirelessly helps millions of New Zealanders every year via its on-site and online service. The scope of knowledge their teams cover is endless, including consumer, employment and business, family and personal, government and law, health and wellbeing, housing, land, money, travel and transport. The team at MoneyHub routinely refers users to CAB knowing that they'll be in the best hands". |
Favourite Money Management Service - The Ngā Tāngata Microfinance TrustOur view:
MoneyHub's editor Christopher Walsh says: "The Ngā Tāngata Microfinance Trust is an unsung hero for many New Zealanders struggling to get on top debts. Their small team, powered by Kiwibank consistently provides safe, fair and affordable loans that change lives. Their service continues to help low-income New Zealanders get ahead in life without the problems of crushing personal debts. |