Accounts

Accounts

Rates are subject to change at any time without notice.

Service fees may also apply. See the Business Guide to fees brochure for more information.

New Zealand resident minimum foreign currency account opening balances

Currency Minimum Opening Balance
Australian Dollars (AUD) AUD5,000
Canadian Dollars (CAD) CAD5,000
Euro (EUR) EUR5,000
Great British Pounds (GBP) GBP5,000
Hong Kong Dollars (HKD) HKD50,000
Japanese Yen (JPY) JPY500,000
Singapore Dollars (SGD) SGD5,000
Swiss Franc (CHF) CHF5,000
United States Dollars (USD) USD5,000

Interest rates for on-call foreign currency deposits

Currency Interest rate
Australian dollars, AUD
10,000 to 75,000 0.00% p.a.
75,000 to 250,000 0.00% p.a.
250,000+ 0.00% p.a.
Canadian dollars, CAD
20,000 to 65,000 0.00% p.a.
65,000+ 0.00% p.a.
Swiss francs, CHF
20,000 to 75,000 0.00% p.a.
75,000+ 0.00% p.a.
Euro, EUR
10,000 to 40,000 0.00% p.a.
40,000 to 200,000 0.00% p.a.
200,000+ 0.00% p.a.
British pounds, GBP
5,000 to 30,000 0.00% p.a.
30,000 to 150,000 0.00% p.a.
150,000+ 0.00% p.a.
Hong Kong dollars, HKD
100,000 to 400,000 0.00% p.a.
400,000+ 0.00% p.a.
Japanese yen, JPY
1.0 to 7.0 million 0.00% p.a.
7.0 million+ 0.00% p.a.
Singapore dollars, SGD
20,000 to 85,000 0.00% p.a.
85,000+ 0.00% p.a.
United States dollars, USD
10,000 to 55,000 0.00% p.a.
55,000 to 200,000 0.00% p.a.
200,000+ 0.00% p.a.

Deposits which fall below the minimum balance accrue no interest. On-call interest is calculated daily and compounded monthly.

Fees

Foreign Currency Account fees1
Deposit2 or Withdrawal by foreign cash
Minimum charge $10.00
Maximum charge 1% of value
Withdrawal by issue of foreign draft $30.00

1. Service charges and foreign exchange fees also apply.
2. Foreign cash deposits may be subject to a hold period.

Foreign exchange fees
ASB buys
Foreign cash (except Foreign Currency Accounts) No charge
Travellers cheques $5.00 per transaction
Draft - Clean negotiated No change
Drafts/Travellers cheques - sent on collection $50.00 plus courier fee3
Drafts - clean negotiated dishonour fee $25.003

ASB sells Branch/TravelLine FastNet Classic
Foreign cash (except Foreign Currency Accounts) 1% commission (min. $10.00 for over NZD100, min. $5.00 for NZD100 and under) 1% commission (minimum $5.00)
Drafts $30.00 $20.00
International Money Transfer (IMT) $30.00 $15.00
International Money Transfer (IMT) Trace / Amendment / Cancellations $30.00
Draft Stop Payment $25.003

International inward payments
Payment received directly by ASB and settled to NZD account $15.004
Payment received via another NZ bank and settled to NZD account or foreign currency account Fee determined by other NZ bank

3. May be subjected to charges imposed by overseas bank(s).
4. Fee waived for payment of NZ$100 or less.

Standard service charges may apply - further details are available here. Minimum balances, interest rates, fees and charges are subject to change.

More about foreign currency accounts

Important information: Business MoneyMaker and Business Accelerator accounts are no longer sold. Please enquire at your nearest ASB branch for details of these accounts. Transactions completed via FastNet Classic on business bank accounts will be charged applicable FastNet Classic fees. Please refer to the personal banking Guide to Fees.

Terms and conditions: Service charges apply. Fees and interest rates are subject to change. Full terms and conditions for the products and services, ASB's Disclosure Statement and, if applicable, the Savings Plus Investment Statement apply and are available from any ASB branch.

How we can help

We can help match your needs with the right accounts for you.

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