Monday, 20 October 2014

Open Letter to KiwiBank

Dear Sir

I recently had the misfortune of watching your “take the leap” advert on television, apparently aimed at those who have left the security of their jobs to set up a business. In the advert, you claim to know how this feels and that your bank also “took the leap.”

I find this not only an insult to the intelligence, but a bare-faced lie.

At no time since your bank’s inception did anyone in your organisation invest their own capital in your bank. Your bank was started off the backs of the taxpayer, and had continued that way. You risked nothing but the taxpayer’s anger. Thus your future was and still is assured – by the taxpayer. Regardless of how badly managed KiwiBank is, the taxpayer will always be forced to foot the bill.

In short your bank is another example of the State overstepping its mandate, and involving itself in areas of life in which it has no business.

I would therefore ask that you remove this advert from view as a gross misrepresentation of the truth, and an insult to those of us who have risked our own money to start a business -- and who would have  rather kept our earnings in our own pockets and our own businesses, instead of having it go to your own dubious enterprise.

Yours Sincerely

Peter Osborne


  1. That is exactly my reaction. Well said Peter. Who did you express your views to?

  2. Bravo.Ditto to all of that. Without the truckloads of taxpayer theft this little zombie would have sunk already in the river of no returns. Can't wait till they discover their loan book is everybody.that can't get a loan anyplace else.

  3. @Free Mack: Peter tells me he "sent it by post to the CEO, Paul Brock." As well as a copy to me, obviously. :-)

  4. Does taxpayers footing the bill mean that if Kbank went broke and the NZ Post guarantee was not enough to repay all of the depositors then taxpayers would repay them?

  5. I have to say that Kiwibank are 'cheap'. I was head Hunted for a Senior Management Role in the company. All good, a promotion for me doing a Job that I knew I could easily handle- but with my current employer, I was probably 2 yrs away from the same role. Funny that the salary they offered was LESS than what I was on- I turned it down. I explained to the Kiwi Bank guy that the pay they were offering was peanuts- & you will only attract Monkeys. I found out that the person who took the role was a monkey- an old employee of mine who I had gotten rid of he was so useless.


  6. That bank keeps on trying to position itself as 'ours'

    Remember when they started out pretending to be some kinda trench-coat-and-fedora WW2 French Resistance rebel underground?

    This is even more blatant. Well said Peter.


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