Expert advice and understanding
Legal firms and conveyancing specialists have particular banking requirements. ASB banks over a third of New Zealand’s legal firms, and our unique team of legal banking specialists is one of the most experienced in the industry. They understand your banking and financial needs and can help you make the most of ASB's products and technology.
Online trust account management
FastNet Business Professional Trust lets you manage client funds, in real time, and with total control. You can open new accounts with unique account numbers, deposit and withdraw funds, calculate and credit interest, and close accounts at will. You can open term deposits and on call accounts, and provide clients with electronic ASB statements at any time. The service is part of FastNet Business internet banking, which you can also use to manage your firm’s own finances.
ASB transfers cleared funds in real time. That means even large transactions like home or business conveyancing can be quicker and simpler to manage, especially between ASB accounts.
ASB to ASB Settlement protocols
Property settlement payments are almost always needed in real time. Usually this means arranging a Same Day Cleared Payment. But if both the vendor's lawyer and the purchaser's lawyers are with ASB, they can use a simple online payment instead. The payment goes through immediately as cleared funds.
We have a full settlement protocol for ASB-to-ASB settlements. These protocols have been prepared based on Section 6 of the Property Transactions and E-dealing Practice Guidelines 2012 (updated April 2015), prepared by the New Zealand Law Society's Property Law Section. The Property Law Section has a copy of these protocols.
Read the protocols