Can ASB move money from one of my accounts to another without my authorisation?

Last Updated: 01 Jun 2017

Yes, we can use money in your accounts to repay any money you owe us. For example, if you're overdue on payments to your loans, credit cards or overdrafts.

In this case, we may use money from any account in your name - including joint accounts - to reduce or repay what you owe. 

To do this ASB may:

  • Transfer money from one account to another;
  • Treat any number of accounts as one;
  • Use money in one currency to buy money in another currency; and
  • Break term deposits

If this happens we’ll let you know, but it’s possible you’ll get no prior notice.

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