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What ID do I need to deposit cash for my business?

Last Updated: 31 Oct 2017

Identification for deposits

Currently we require any customer depositing $10,000 or more in cash to provide us with valid identification. From November 2017, we will require valid identification for all cash deposits. This is a simple measure that will help safeguard your accounts held with us.

ASB customers can make a deposit at the ATM or over the counter using their ASB card, and will be identified by their PIN number.

If you have employees who make deposits on behalf of your business and aren’t ASB customers, they will need to go to the counter and show valid identification such as:

  • New Zealand Drivers Licence
  • Passport
  • SuperGold Card
  • A bank debit or credit card with name embossed and a matching signature
  • Student ID with photo
  • Firearms licence
  • Birth certificate

See the full list of identification requirements.

FastDeposit Boxes

From 1 November 2017 we will no longer accept cash deposits made into the FastDeposit Box. You or your employees will now need to complete any cash deposits via an ATM or over the counter with valid ID.

Your options for depositing cash:

  1. Smart ATM (for deposits under $10,000) - You can use the Smart ATMs in branch (if available) to deposit up to 50 notes and up to 600 coins (if coin sidecar is available) per transaction. Cash deposits using the Smart ATM will be automatically credited to your account and funds are available immediately.
  2. ASB Deposit Bag – Using an ASB deposit bag, you can drop your cash deposit at the counter with valid ID, or use the Bag Deposit Unit at the ATM where this service is available. The funds will appear in your account that day, but can take up to two days to be validated and available.
  3. Counter Deposits – You or your employees can also deposit cash over the counter, where your cash will be counted and the funds are available immediately in your account.
  4. Secure collection - For regular large deposits, arranging secure pick up from your premises may be an option. Please talk to your Relationship Manager to discuss this option.

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