Deposit Power to power up

Thursday 12 February 2004

Deposit Power Guarantees, which provides an alternative to paying a cash deposit on a house, is about to crank up its marketing efforts in New Zealand.

By The Landlord

Deposit Power, which is ultimately owned by Promina, formerly Royal & SunAlliance, started operating here last year, but that was just "a very soft launch," says general manager Steven Watters.

He says that is about to change.

Deposit Power is for people who for whatever reason can’t or don’t want to produce a cash deposit can pay Deposit Power a fee of 1.2% of the deposit and Deposit Power will guarantee the vendor that the transaction will be settled.

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