The survey, carried out by online savings and investment channel RaboDirect, found that 56% of New Zealanders aged 18 and over have never had a bonus saver account, which typically pays higher interest rates than a standard on call account.
Greg McAweeney, RaboDirect General Manager Australasia, says billions of dollars are currently sitting in Kiwi transaction accounts, attracting no or low interest on the money invested.
"According to Reserve Bank figures, there is more than 29 billion dollars of retail funding in these transaction accounts each month. In addition, our past research has shown half of New Zealanders leave more money in their transaction accounts each month than is necessary to cover their expenses.
"For these 'complacent transactors' there is an opportunity to maximise the returns on their money by putting the surplus into a straight forward bonus product that will pay higher interest rates.
"And for 'passive savers' - people whose money keeps rolling over in the same account, it's about regularly checking the market to make sure they are getting the best rate possible for their hard earned savings," he says.
Mr McAweeney says the survey was carried out to support the launch of RaboDirect's bonus saver offer, which currently offers an interest rate of 4% - based on bonus interest of 0.6% p.a. on top of a market-leading on-call rate of 3.4%.
The rate will be applied from today to any money deposited into a RaboDirect On Call Savings account or Cash Advantage Fund by new customers, and for increases in overall account balances of existing customers, over a four-month period.
Greg McAweeney says the RaboDirect bonus saver offer is straight-forward and designed to reward proactive savers.
"What is traditionally called the 'base rate' is RaboDirect's usual on-call rate, which is currently one of the highest in the market, so the additional bonus top-up makes it a very attractive proposition. In addition, the bonus saver offer isn't loaded with criteria people have to meet to get the bonus interest - all they have to do is deposit money into a RaboDirect savings account."