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Changes announced for BankDirect

ASB is removing its BankDirect brand, products and services and transitioning all customers to the equivalent ASB products.  

BankDirect, a sub-brand of ASB, was established in 1997 as the ‘digital bank of the future’ where customers could do their banking via the internet and contact centre without the need to visit a branch.

BankDirect customers have been informed of the change in late-August, and will gradually be transitioned to the equivalent ASB products and services.

BankDirect, a sub-brand of ASB, was established in 1997 as the ‘digital bank of the future’ where customers could do their banking via the internet and contact centre without needing to visit a branch.

BankDirect customers are receiving communications about the change from late-August, and will gradually be transitioned to the equivalent ASB products and services. Customers will receive more information about the change in the weeks ahead.  

BankDirect accounts will continue to operate as normal until customers receive further information about the change.

Tony Blacklock, general manager BankDirect, says the technology and innovative self-service options at ASB have surpassed the products and services BankDirect offers.

“BankDirect had a unique value proposition for customers when it launched, but ASB now offers customers a far superior suite of intuitive digital options*,” Mr Blacklock said.

While every customer has a different combination of BankDirect products and services, Mr Blacklock said ASB will ensure customers are well-looked after through the process.

“ASB is working with BankDirect customers to ensure their banking relationships are seamlessly transitioned to ASB,” he said.

The number of customers choosing to bank digitally with ASB, through online and self-service channels, has increased markedly over recent years, and ASB’s customers have benefited from the Bank’s investment in its internet banking platform and mobile app.

BankDirect customers do not need to do anything to affect this change; however they also can choose to make the transition to ASB at an earlier date if they wish.


About BankDirect
• BankDirect was established in 1997 and was positioned as the digital bank of the future
• It was the first branch-less banking brand in New Zealand
• BankDirect has fewer than 10,000 customers, a number of which are inactive. More than 70% of those customers also havea banking relationship with ASB
• ASB is transferring all its BankDirect customers to the equivalent ASB product(s)


*Some digital offerings at ASB
• Card control – ASB customers can temporarily lock, change spending limits and set PIN numbers on their cards
through the ASB Mobile Banking app – anywhere, anytime.
• Clever Kash – a digital money box designed to teach the next generation about saving which interacts through the ASB Mobile Banking app.
• Customers can pay TradeMe sellers instantly through the ASB Mobile Banking app.
• Fixed rate rollover – customers can roll over their fixed home lending to a new special rate online or on the ASB Mobile Banking app, and they can switch from floating to fixed lending selecting their preferred term and rate.

 

Media contact

All enquiries should be directed to:

Georgina Bond

Senior Manager, Media Relations

Christian May

GM Corporate Communications

Media Releases Changes announced for BankDirect