Can ASB charge me fees and interest after allowing my account to be overdrawn?
Last Updated: 27 May 2019
Yes, attempting to withdraw more money than you have in your account is treated as a request for an unarranged overdraft. So it’s important to make sure you have enough money in your account for payments or automatic bills or arrange an overdraft ahead of time.
We may not agree to an unarranged overdraft, depending on your personal circumstances.
If you have received an unarranged overdraft, the unarranged overdraft interest rates and fees will apply. The interest on your overdraft is calculated daily and charged on a monthly basis. This, as well as the fee, is debited to your account on the second day of each month (or the last day if you have an ASB Unlimited account) and when your account is closed.
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