3 big reasons you don’t want to see your KiwiSaver in your online banking

Is having your KiwiSaver in your online banking a benefit at all? 

KiwiSaver Advice vs Online Banking Hawkes Bay Napier Hastings

Most of us have been told by the teller that a major benefit of transferring our KiwiSaver to the bank is that you can see your balance every time you log in to your internet banking.

And to be fair, these hardworking people are often put under enormous pressure to meet sales quotas, so don’t shoot the messenger. But is having your KiwiSaver in your online banking a benefit at all?

Here’s 3 reasons why KiwiSaver should stay OUT of your internet banking:

  1. Repeat after me: KiwiSaver is a long-term game. Why then do you need to see your balance every week? Fluctuations in the share market, particularly if you’re in a high-growth fund, will have lots of highs and lows. The whole idea of this long-term investment is that you end up with more wins over time. If you are seeing the balance weekly, what are you going to do with this information? Is it going to influence you to make any decisions or changes with your fund? Hopefully not, because you understand that you’re in it for the duration. In fact it could do you more harm than good, which leads us to number 2.
  2. Do you want to panic every time your KiwiSaver balance drops? Sure, it’s good to see your fund grow. But seeing it every week when you log in to your online banking can create anxiety for many people when they see their fund has lost hundreds overnight. Long term investing is best reviewed at least 6 monthly, and that way you’re more likely to get a pleasant surprise next time you look at it.
  3. KiwiSaver contributions are slow to hit your account. After they are paid by your employer, they go to the IRD before they are paid into your fund. This process usually takes around 3 months for the money to hit your KiwiSaver fund. So checking it every week isn’t going to see it grow as quickly as you might like.

So, while it might seem like a nice idea to have your balances all sitting on one screen, it might not be the best idea when you put some thought into it. Any KiwiSaver fund is accessible online anyway, so you can log in to see your balance whenever the mood strikes you.

As KiwiSaver Advisers we want you to be making decisions based on what’s best for you, and not the bank’s sales quota.

We are here to help you navigate the many options, and add personal service to the mix well above and beyond what you get at the teller’s desk.

We know how to ask the right questions to get what you want out of your retirement fund, and if your KiwiSaver is managed by us, we will call you once a year for a review of your fund to make sure everything is still meeting your needs and changing lifestyle. It’s also worthwhile remembering that this service comes at no additional cost to you.


It’s all part of our service, because we believe your nest egg is worth keeping an eye on.

For any questions related to KiwiSaver or retirement planning in general, talk to our specialist KiwiSaver Advisers today – send us an email or call 06 870 7050.

Already have your KiwiSaver managed by Cole Murray? Yes you can login to your account online at any time – if you’d like help to do this we can talk you through it, either in person or over the phone. 

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