ANZ Bank are standing by their decision to withdraw banking services to Maketu Takeaways who've now been forced to operate on a cash only basis.
It's reportedly the result of the latest move by the state to crack down on the shop's owner, senior Mongrel Mob member, Valentine Nicholas.
However, Nicholas says that eftpos is 80-90% of the shops business and despite standing down as director of Maketu Takeaways, with accounts being taken over by a newly appointed director, ANZ also withdrew services to the alternative account.
In a statement to Te Kāea, ANZ said they don't have to provide a customer a reason for ending a relationship:
“As with any commercial organisation, we can choose to end relationships with customers from time to time. We regularly review customer accounts for legal and compliance issues and occasionally exit customers.”
“We’re upfront about it - our rights to end a contractual relationship are set out in our Terms and Conditions. Those same Terms and Conditions say we don’t have to provide a customer a reason for ending a relationship.”