Help for Beneficiaries and low income families

You say that you want to be for the people. How do you see Debut helping, integrating beneficiaries, low income families, along with people who unfortunately find themselves with financial issues that a lot of banks ignore or dismiss?

Sorry if this appears jumbled. It looked good in my head lol

Hello! Great question! Thanks so much for posting. Derrick from Debut, here.

I can tell you that the folks here behind Debut are super thoughtful about how we’re building these banking services. It’s very important that Debut’s services are equitable - that is, designed in a way that all Kiwis can benefit from the service.

One of our goals is to make working with money just plain effortless. Whether it’s understanding where money goes or finding new ways to save, tracking a budget, or building some interest effortlessly, we feel this should all be baked in. We’re already looking into some cool options that allow for user choice in this area too, which could open more doors.

Some of the financial literacy and budgeting tools posted yesterday are particularly exciting and I think these sorts of tools have the potential to make a really positive impact long-term. I think that this kind of approach would offer a far more sustainable path towards financial growth.

I know that we still have a lot more work to do in terms of how Debut could help vulnerable people and families. I for one would be very excited if we were to develop something together with feedback from people and other organisations trying to create an impact in that area.

Thanks again. I’ve sent you a separate email as well.

Note: This is not financial advice, but rather my personal opinion.

What I’d like to be able to do is use my green card online, which I cannot do due to only being able to buy food with the food grants, you can’t buy gift cards, alcohol and other items which you can go and visit at the WINZ website.

Currently, I have to log into myMSD to check the payments when the increases happen. For example, I’ll be starting to pay new rent as of tomorrow, up by $30.
Our mission is to make money management, easy and simple. To make it automatic, I’d be able to link my MSD with Debut, which has everything, base rate, disability, allowance, accommodation, supplement, all my costs, etc they will be downloaded to my various buckets and synchronised.

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