Foreign currency deposit account rates

New Zealand resident rates for on-call deposits.

ASB Bank Limited ('ASB') reserves the right to amend these charges at any time.

Footnotes:
^1. For international money transfers in foreign currency to or from other overseas accounts, our agent banks may deduct transfer charges.
^2. Foreign cash deposits may be subject to a hold period.
^3. May also be subject to charges imposed by overseas banks.

Cheques/drafts drawn on overseas banks

• Cheques/drafts drawn on overseas banks, which we receive for deposit into foreign currency deposit accounts, are subject to a hold period of 21 business days.
• This period may vary from time to time without notice. At its discretion, ASB may pay interest on the cheque/draft prior to this hold being removed.
• However an exchange rate cannot be quoted on the proceeds of the cheques/drafts during this hold period.
• ASB customers are liable for all costs and charges incurred for a dishonoured foreign cheque/draft, including without limitation, reimbursing immediately to ASB the principal amount, interest, any exchange differences, ASB charges, overseas charges and any other reasonable costs and charges incurred by ASB.
• Available funds are not necessarily cleared funds.
• Accordingly, ASB retains the right to claim back, for an unlimited period of time, all funds paid out on foreign cheques and drafts deposited into foreign currency deposit accounts.

• At its discretion, ASB may require foreign cheques/drafts to be sent on collection.
• Collections have a processing period of approximately six weeks.
• The processing bank may make a variable charge, which is beyond our control.
• These drafts do not accrue interest until the proceeds have been confirmed as credited to the nominated ASB account.