How do I adjust my overdraft limit?

Last Updated: 19 Apr 2016

You can adjust your overdraft limit online within FastNet Classic  or using the ASB Mobile Banking App. 

Here’s how:

If you have a pre-assessed overdraft limit:

  • From the Statements page in FastNet Classic, select the ‘Adjust or Remove Overdraft Limit’ link to the left your account name. Alternatively in ASB Mobile select your account with the overdraft limit and then select the ‘View and manage overdraft’ link
  • You can choose an overdraft limit from the minimum limit up to your pre-assessed limit. If you wish to reduce your current limit, you can reduce it to the minimum limit, however you are unable to have a limit lower than your current overdrawn balance
  • Follow the steps in each screen and if you’re happy with the terms and conditions select  ‘accept’ or ‘submit’ to confirm your overdraft limit
  • It is important to note that if you are an existing ASB customer, and we have offered you a pre-assessed overdraft limit, then we may change this limit from time to time based on our regular assessment of your banking relationship with us and our lending criteria. This means that if you decrease your limit, you might not be able to increase it again
  • You can cancel your overdraft facility online as well

If you can’t see a pre-assessed overdraft limit you can still apply for a limit increase:

  • In the left hand main navigation menu, under Open & Apply, select Loans & Mortgages, then Overdraft
  • Complete the Personal Overdraft Application form with all the relevant details. Pay particular attention to the fields with an asterisk, as these are compulsory to complete
  • When you’ve completed the application, select Submit
  • We’ll come back to you on your application within two working days

There are a few things you should know about overdrafts:

  • Approval is subject to ASB lending criteria 
  • An overdraft works as a line of credit, meaning it’s available for you to use as and when you need it up to a set limit
  • An establishment fee may apply and monthly facility fees will apply; see the ASB Guide to Fees for details
  • The current unsecured interest rate applies to any overdrawn balance up to your overdraft limit.  Any balance in excess of your overdraft limit will be charged at our unarranged overdraft interest rate

Alternatively, you can go into any ASB branch, or call us on 0800 803 804. 

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