New banking initiative offers 'Novopay overdrafts'

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Banks offer 'Novopay overdrafts'

3News NZ

There are still problems with Novopay

There are still problems with Novopay

A new initiative ensures that teachers not paid, or underpaid, because of Novopay problems, aren't hit by bank fees and interest charges if they're forced to go into overdraft.

So who's the initiative from?

The Ministry of Education, who employs the teachers?

Nope.

Talent2 ,the people behind Novopay?

Nope.

It’s from banks.

Yes, every retail bank in New Zealand has agreed to forgo all overdraft fees accrued by teachers as a result of Novopay no-pays.

In the meantime, how's Novopay going? Is it sorting things out?

Kate King went to find out.

Watch the video.

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Comments

9/01/2013 11:48:09 p.m.

Pragna Patel wrote:

The sooner the public get wise to the real reason behind the inept choice of the org behind Novapay the sooner the electorate will be able effect some real change in this debacle. Its a smokescreen to divert the practioners in education from the other crazy ideas this govt has. Once we add this to class sizes, technology proposals, Christchurch we will be able to see the true colour of the true vision this govt has for our children. Divide and conquer. Rich and poor. Friend against friend this is the battleground they have set up. I have not lost much yet. I have returned to teaching after a 4 year absence. I was asked to submit for salary assessment and they came up with what I was on when I first came to NZ from the UK. So I asked them if its possible to regress after a break when I had been teaching in NZ for a number of years? They told me they had no information on the system from my previous place of work. Does that strike you as a poor electronic system or what? Its not possible to be so inept without doing it in a deliberate and planned fashion. We need a mole to get to the bottom of this.

1/12/2012 6:15:46 p.m.

Robert Blakeman wrote:

Have any of these organizations ever heard, read and understood the concept of diseconomies of scale? Or is it that they see the opportunities to charge large contract prices for systems that are never going to work. To blame human error is to admit they have ignored that the system has to work with and for people, not the other way around! It is about time management within large organisations displayed some real understanding of the responsibilities and their lack of technical understanding. Bigger is not always better. This is a great case study for not adopting an outsourcing solution for business processes.

30/11/2012 11:03:07 a.m.

James Megson wrote:

Am I to believe from what I have seen on the T.V. coverage of the Novopay debacle that money, and in at least one instance teacher registration and relevant information irretrievably lost? If so, as this has dragged on for around 4 months and trading banks have come to the party in helping those disadvantaged by this governments haste in implementing an untried flawed system, heads in high places should roll even at ministerial level. James Megson

30/11/2012 9:46:19 a.m.

alison wrote:

Gotta wonder why Australian banks are covering and cleaning up this govts mess? Why is our govt unable to sort this?

30/11/2012 9:11:46 a.m.

Mrs J wrote:

Perhaps my grasp of finance is more realistic. My point being that they will step into any of these overdrafts/ loans under the assumption that they are going to be paid correctly soon - soon may be a very long time coming, how patient are the banks prepared to be?

30/11/2012 7:40:16 a.m.

Jason wrote:

Oh, I finally get it, Novopay is just a mix of the words No , and over pay. MRS J doesn't understand the financial system. They're not gaining "more" debt, they're receiving an interest free loan that will cover them until they receive what they're owed and can pay it back at that time. It stops them from having to go out and get high-interest unsecured loans right at Christmas time. The Novapay bank loan will probably be directly linked to home much Nopay owes them.

29/11/2012 9:58:12 p.m.

Mrs J wrote:

The banks gesture sounds lovelly but in reallity may result in people gaining more debt while they are continually incorrectly paid.