Peter Osborne calls out Kiwibank for their misleading adverts.
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.