Talk to a lawyer now — free case review
Get clear guidance on your employment situation — severance, wrongful dismissal and your rights. No appointment, confidential.
Runs in your browser · free · confidential
Our services
Process
Our assessment begins with a detailed review of your employment agreement, bank policies, and the circumstances of your termination. We analyse entitlements under the Employment Relations Act 2000, relevant collective agreements, and case law to build a robust claim. This includes calculating any redundancy compensation, outstanding wages, holiday pay, and potentially compensation for unjustified dismissal. A typical case review involves scrutinising 3-5 key documents and can identify entitlement gaps in over 60% of initial employer offers. We then engage in precise negotiation or mediation to secure a fair settlement, a process where specialised knowledge of financial sector practices is paramount, similar to our approach for Severance Pay For Project Managers.
At a Glance
| Parameter | Reference Value |
|---|---|
| Typical Case Review Timeline | 1-2 weeks |
| Common Notice Period (Senior Roles) | 4-12 weeks |
| Key Document Analysis | Employment Agreement, Bank Policy, Termination Letter |
| Primary Governing Legislation | Employment Relations Act 2000 |
Local Considerations — New Zealand
Severance practices for bank employees can vary across New Zealand's major financial centres. In Auckland, home to the headquarters of major retail and investment banks, cases often involve complex corporate structures and international policies. Wellington's public sector and central bank roles may involve distinct employment agreements. Regardless of location—be it Christchurch, Hamilton, or Dunedin—the core legal principles apply, but local mediation services and Employment Relations Authority venues are utilised. Our national team adapts its strategy to the specific operational context of your bank's branch or head office, ensuring relevant, localized legal advocacy while leveraging our nationwide expertise.
Request a Quote
Our team reviews your project and issues an initial report at no cost.
Or write us directly at [email protected]
Standards & Compliance
- Employment Relations Act 2000
- Holidays Act 2003
- Good Faith obligations under Part 5 of the Employment Relations Act
- Relevant Collective Employment Agreement or Individual Employment Agreement
Frequently Asked Questions
What is typically included in a severance package for a bank employee?
A comprehensive severance package usually includes any contractual redundancy compensation, payment for your notice period, all accrued holiday pay, and any outstanding wages or commissions. It may also include compensation for unjustified dismissal if applicable, and sometimes ex-gratia payments or outplacement support.
How long do I have to raise a personal grievance for unjustified dismissal?
You have 90 days from the date your employment ended to raise a personal grievance for unjustified dismissal. It is crucial to seek legal advice well before this deadline to ensure your claim is properly lodged and your rights are preserved.
Does my bank's internal redundancy policy override the law?
No. The bank's policy and your employment agreement must provide entitlements that are at least as favourable as the minimum standards set by New Zealand law, such as the Employment Relations Act 2000. If the policy offers better terms, those generally apply. We review both to determine your highest entitlement.
How much does legal advice for Severance Pay For Bank Employees in New Zealand cost?
The cost depends on the complexity of your case, the number of documents involved, and whether negotiation or mediation is required. For a standard initial assessment and document review, our fees are transparent and agreed upon in advance. We provide a specific quote after understanding your situation, as every case is unique.