Changes to offshore card transfer options
We're changing our processes for offshore fund transfers made using ASB Visa Debit or credit cards. The types of transfers impacted are:
- Account Funding Transactions (AFTs) - when a customer uses an ASB Visa card to transfer money from their account into another offshore account.
- Original Credit Transactions (OCTs) - when a customer receives offshore funds directly into their ASB Visa debit or credit card account.
From 22 October 2025, transactions may be blocked if ASB Visa card details are used on overseas websites or digital platforms for the purpose of sending or receiving offshore funds. This includes transactions where card information has been previously stored with an offshore merchant.
Examples of types of transactions affected:
- Trading digital currencies with offshore merchants.
- Payments to or from offshore digital wallets.
- Claiming prize winnings or withdrawing funds from offshore betting sites.
This change won't affect how you shop online at overseas websites using your ASB Visa card, it only applies when using a card as a payment method to move funds internationally.
From 22 October 2025, customers who have been using AFTs and OCTs for sending or receiving offshore funds will need to use a different method for these types of transactions. Some overseas platforms may accept International Money Transfers (IMTs) as an alternative, we recommend checking directly with the merchant or visit their website to see what options they offer.
Frequently asked questions
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Why has ASB stopped this?
These types of transactions have been identified as high risk for financial crime so we're blocking these for the foreseeable future. We understand this may be inconvenient, and we haven't made the decision lightly. But it's important we have the right protections in place to meet our obligations as a responsible bank - and to help reduce the risk of global financial crime.
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Are other ways of moving money internationally being blocked?
We're not making any changes to international bank transfers, where money is deposited directly to a bank account. These transfers are processed through different channels that have extra checks and additional layers of security which reduce the risk, so are not affected by the current blocks.
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How do I move money with an International Money Transfer?
An International Money Transfer (IMT) is a fast, easy, and secure way to electronically transfer money overseas or receive foreign payments. There's some specific information needed for setting up or requesting an IMT, find out the full details on our how-to page here.
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Do all overseas merchants offer International Money Transfers as an alternate payment method?
We recommend checking directly with the merchant or visiting their website to see what alternative options they offer.
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Why can I spend my money on these websites, but not withdraw funds or winnings back to my card?
We're blocking certain types of transactions that have been identified as higher risk for financial crime, so you may be able to deposit or spend funds on some websites, but withdrawals are restricted.
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Can I keep using these platforms?
You can continue to use these platforms, this change impacts how you move funds to or from them.
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What kind of transactions and platforms are impacted?
This change could impact transactions relating to cryptocurrency trading, money transfer or remittance transactions, payouts relating to online content creation, winnings from online gaming or betting sites and some GST/VAT tax refunds at the airport, where your card details are provided. Some common platforms are MoonPay, Qpay and Bet365.
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This website is NZ based, so why is my transaction being blocked?
We understand this can be confusing. Even if a website looks like it's based in New Zealand, sometimes your payment might be processed through an overseas merchant facility. When this happens, the transaction may be blocked, regardless of where the website says it's located.