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.
Did this answer your question?
Related Answers
-
It is best for you to let ASB know of the death as soon as possible. Holds will be placed ...
-
Who ASB may deal with about the bank accounts of a deceased customer will depend on whether the deceased person ...
-
Yes. To change your nominated savings account in FastNet Classic you'll need to add a new savings account and delete ...
-
Yes, you can now view up to seven years of transaction history on ASB bank accounts and transaction history from ...
-
Each of the numbers on your ASB account has a very good reason for being there. Let's break it down and explain by segments.
-
You can hide most Transaction and Savings accounts, Investments, Managed funds and Visa Business credit cards from your Balances summary ...
-
Banks in NZ typically send funds throughout the day from 9am to midnight and at least every hour. ASB will ...
-
You'll earn whatever the interest rate is on the ASB savings account(s) that your savings go into. However, if you ...
-
A deposit into your ASB bank account can be made from anywhere in the world provided the sender has the ...
-
If you close your accounts Save the Change will switch off. If you have nominated more than one savings account, ...
