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New banking initiative offers 'Novopay overdrafts'

Thursday 29 Nov 2012 7:52 p.m.

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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