How can I avoid unarranged overdraft fees on my account?

Last Updated: 17 Jun 2020

No-one likes paying bank fees such as an unarranged overdraft fee.

If you go into unarranged overdraft, you can avoid the unarranged overdraft fee and interest charges by transferring money to return the account to credit by 11:30pm that day.

And to avoid fees in future, here are some simple suggestions:

  1. Sign up for internet banking and / or download the ASB Mobile app.  That way you can use Fastnet Classic internet banking or the ASB Mobile app to keep track of your accounts any time of the day or night and make transfers to cover any shortfalls.

  2. Sign up for alerts via email and/or notifications. We can send you an automatic alert if your account is overdrawn. In most cases if you act on the alert the same day, you’ll have time to fix things up and avoid being charged an unarranged overdraft fee. You also have the option of setting an alert when your account gets down to a limit set by you, giving you the chance to manage your money.

  3. Apply for a personal overdraft. This is a pre-arranged amount that is available on your account every month giving you an extra safety net in case of unexpected bills or expenses (fees and interest apply and are subject to change).

  4. Use our Online Tools. Our online budgeting such as ‘Track My Spending’ can really help you manage your money better.

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