How do I get an overdraft?

Last Updated: 23 Nov 2016

You can apply for or accept a pre-assessed overdraft limit online within FastNet Classic or using the ASB Mobile Banking App. Plus if you do apply online we’ll waive the establishment fee.

How to accept a pre-assessed overdraft limit:

  • Log in to FastNet Classic (FNC) or the ASB Mobile Banking App
  • From the account balances page in FNC select the ‘Add overdraft’ link if it is visible. Alternatively in ASB Mobile select your transactional account then the ‘Add overdraft’ link if it is visible
  • Follow the steps in each screen and if you’re happy with the terms and conditions select ‘accept’ or ‘submit’ 
  • You will receive a confirmation that your request has been successful  in your My Messages inbox in FastNet Classic online banking
  • 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
  • You can cancel your overdraft facility online as well

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

  • Complete the Personal Overdraft Application form with all the relevant details, particularly to the fields with an asterisk, as these are compulsory to complete, then select Submit
  • We’ll assess your application and come back to you with the outcome

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 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 also go into any ASB branch, or call us on 0800 803 804 to apply for an overdraft. Please note, an establishment fee may apply

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