Notices

ASB announces changes to Credit Card Conditions of Use, effective 15/09/2026.

• Offshore Service Margin definition changed to: 'means the margin charged by us when you use your Card to perform some Overseas Transactions.'
• Condition 4.19 changed to: 'Overseas Transactions made with an ASB Visa Business or ASB Visa Business Rewards card will incur Offshore Service Margins. The Offshore Service Margins are subject to change on 14 days notice. Please refer to the Guide to Business Banking Fees brochure for the current margins. A copy is available from any of our branches or at www.asb.co.nz. Margins will be charged to the Card Account along with the total converted amount of the Transaction.'
• Condition 4.20 changed to: 'Some Merchants and overseas ATM operators allow you to pay for a foreign currency transaction in New Zealand dollars at the time of purchase or cash withdrawal. If you select this option, the exchange rate will be set by the Merchant or ATM operator, and they may apply a margin or fees. We have no control over the conversion rate used, any margin or fees charged when you choose to accept the New Zealand dollar amount.'
• Condition 4.24 changed to: 'You may choose to use your Card to access some of your other transactional and savings accounts through ATM's and EFTPOS terminals in New Zealand and through ATM's overseas. When accessing these accounts via credit card at ATM's overseas, the transaction is treated as an ASB FastCash Overseas Transaction, and an Offshore Service Margin applies. Refer to the ASB Guide to fees brochure on asb.co.nz for more information.'
• Condition 4.27 has the following added: 'ASB's Personal Banking Terms and Conditions apply. A copy is available on asb.co.nz'
• Condition 6.5 'Late Payment fee' has been removed.
• Condition 6.6 'Allocation of payments' is now condition 6.5.
• Condition 6.7 'Changes on grounds of unforeseen hardship' is now condition 6.6.
• Condition 9.1 bullet point 2 updated to: 'any fees and costs incurred or arising from the issue or use of any Card or Card Account;'

ASB announces changes to the Guide to Fees, effective 15/09/2026.

Mention of ASB FastCash “Fees and Margins” are removed as they no longer apply and is replaced with ASB FastCash “Offshore Service Margins” (this is an existing fee).

ASB Visa Platinum Rewards fees are updated as below:

ASB announces changes to the Guide to business banking fees, effective 15/09/2026.

• All references to the Business Focus Account will be removed due to product closure.
• For ASB Visa debit and Credit card fees, overseas card delivery is removed and replaced with:
  • Standard postal card delivery - Free
  • Optional Express card delivery fee - Fee available on request
• For Credit card fees: Late Payment Fee of $4 is removed.

ASB announces changes to the followings Terms and Conditions effective from 14 September 2026:

Business, Rural and Corporate Banking Terms and Conditions

1. In relation to Application of Terms:

• A change to clause 1.1 to include new terminology - "Automated Agent" to clarify that software, bots and AI-based tools used to access or interact with an Account are subject to these Terms and Conditions.

2. In relation to Suspension of an Account and Payment Refusal:

• A change to clause 11.1 to clarify ASB's ability to suspend an account or refuse a payment where an account is accessed or used by an unauthorised Automated Agent, or where that use may compromise ASB's systems, data or services.

3. In relation to Overdrafts:

• A change to clauses 17.12, 17.15 and 17.16 to remove the unarranged overdraft fee.

4. In relation to Privacy:

• New clauses 25.12 and 25.13 to clarify customer obligations in relation to providing third-party information to ASB, including requirements relating to authority, privacy and regulatory compliance.

5. In relation to Financial Crime:

• A new section 27 - Financial Crime has been added to outline what we can do to manage our financial crime risk.

FastNet Business Terms and Conditions

1. In relation to FastNet Business Internet Banking:

• A change to clause 1.3 to replace references to specific ASB terms and conditions with a reference to the defined term "Other Terms and Conditions" to reflect the introduction and use of that defined term throughout the Terms and Conditions.

2. In relation to Security:

• A change to clause 2.6a to strengthen security requirements by expanding notification obligations where a Netcode, Netcode token or Mobile Device is lost, stolen or disclosed to another person.

3. In relation to FastNet Business Access and Limits:

• A new section 4 - Use of Automated Agents (Non-Humans) to address the use of automated agents when accessing or interacting with FastNet Business, including requirements relating to authorisation, security, responsibility and acceptable use.

4. In relation to Service Specific Conditions:

• A change to clauses 4.6a to 4.6c to clarify that customers may receive statements electronically where available and to confirm their obligation to regularly review transaction information and electronic statements.

5. In relation to Professional Trust:

• New clauses 5.7 and 5.8 to clarify compliance obligations under Automatic Exchange of Information Requirements and to introduce additional client information and privacy requirements.

6. In relation to Suspension and Termination of FastNet Business:

• New sub clauses 9.3d–e to clarify ASB's ability to terminate FastNet Business access (immediately, without notice) in relation to unauthorised Automated Agent use, including where such use may compromise ASB's systems, data or services.

7. In relation to Definitions and Construction:

• A change to clause 16.1 to add two new definitions: "Automated Agent" and "Other Terms and Conditions" to support the introduction and consistent use of these terms throughout the Terms and Conditions.

Mobile Banking Terms and Conditions

1. In relation to Security:

• A change to clause 5.1 to the security credential requirements to permit the use of password managers for generating and storing Security Credentials, while maintaining customers' obligations to protect the confidentiality and security of those credentials.

2. In relation to Use of Automated Agent (Non-Humans):

• A new section 9 - Use of Automated Agents (Non-Humans) to clarify the use of Automated Agents (including AI tools, bots and automated software) with Mobile Services, including requirements relating to authorisation, security, liability and acceptable use.

Personal Banking Terms and Conditions

1. In relation to the Meaning of words we have used:

• A new definition of "Automated Agent" has been added to clarify that software, bots and AI-based tools used to access or interact with an Account are subject to these Terms and Conditions.

2. In relation to the Refusing to act on an instruction or suspending your account:

• A change to clause 13.1 to clarify ASB's ability to suspend an account or refuse a payment in relation to unauthorised Automated Agent use, including where such use may compromise ASB's systems, data or services.

3. In relation to Section M - Other important terms:

• A new section 43 - Financial Crime has been added to outline what we can do to manage our financial crime risk.

FastNet Classic Terms and Conditions:

1. In relation to Use of Automated Agent (Non-Humans):

• A new section 4 - Use of Automated Agents (Non-Humans) to address the use of automated agents when accessing or interacting with FastNet Classic, including requirements relating to authorisation, security, responsibility and acceptable use.

2. In relation to Withdrawal of FastNet Classic:

• A change to clause 6.2 to clarify ASB's ability to suspend Fastnet Classic access (Immediately, without notice) in relation to unauthorised Automated Agent use of FastNet Classic, including where such use may compromise ASB's systems, data or services.

Important notice for ASB Business customers

ASB announces the following Business interest rate change:

The Education Admin Rate has increased from 0.10% p.a. to 0.25% p.a.

This change will be effective on and from Saturday 1 August 2026. Interest rates are subject to change.

ASB announces the following Savings Account interest rate changes effective 9am Saturday 1 August 2026.

ASB is changing the interest rates on the following savings accounts.

ASB Securities announces the following interest rate change - effective 23 July 2026

The ASB Margin Lending interest rate has increased from 6.25% p.a. to 6.50% p.a.

Important notice for ASB Business, Corporate, Rural and Securities customers

ASB announces the following Business, Corporate, Rural and Securities interest rate changes:

Lending:
The Business Base Rate has increased from 10.97% p.a. to 11.22% p.a.
The Rural Base Rate has increased from 8.21% p.a. to 8.46% p.a.
The Floating Base Rate has increased from 4.14% p.a. to 4.39% p.a.
The Corporate Indicator Rate has increased from 5.38% p.a. to 5.63% p.a. 
The Special Purpose Base Rate has increased from 3.50% p.a. to 3.75% p.a.

Savings:
The Business Saver Rate has increased from 0.10% p.a. to 0.25% p.a.

Securities:
The ASB Cash Management Account interest rate has changed as follows:

ASB announces the following Savings Account interest rate changes effective 9am Wednesday 15 July 2026.

ASB is changing the interest rates on the following savings and transactional deposit accounts.

ASB announces the following Home Lending interest rate changes – effective 14 July 2026.

The Housing Variable Rate has increased from 5.79% p.a. to 6.04% p.a.

The Orbit Home Loan and Orbit FastTrack Home Loan Rates have increased from 5.89% p.a. to 6.14% p.a.

The HomePlus Interest Rate has increased from 7.79% p.a. to 8.04% p.a.

The ASB Back My Build Variable Rate remains at 3.34% p.a.

This change will be effective on and from 14 July 2026 for new home lending customers and on and from 15 July 2026 for existing home loans.

Interest rates are subject to change. 

Changes to our credit card travel insurance provider.

ASB announces that from 15 September 2026, the ASB Visa Platinum Rewards credit card travel insurance will be underwritten by Zurich Australian Insurance Limited. Please visit our Credit Card Travel Insurance page for further information on this change. Terms and conditions including exclusions and limitations apply, please refer to the updated Visa Platinum travel insurance policy wording.

This change is effective from 15 September 2026 for new and existing customers.

ASB Personal Banking Terms and Conditions

We previously announced changes to Personal Banking Terms and Conditions scheduled for 29 June 2026. The changes will no longer proceed as planned. The current Personal Banking Terms and Conditions will remain in effect until further notice.

Update to Other Bank Fees for Certain International Money Transfers (IMTs)

ASB is correcting how Other Bank Fees are charged for certain international payments following a system configuration error.

Effective from 3 July 2026, AUD IMTs to non-CBA accounts where the sender chooses the Sender to Pay option for "Other Bank Fees" will be charged the correct standard fee of $20 per IMT.

No retrospective charges will apply for IMTs before this date.

For more information on our fees, please refer to the ASB Guide to Fees

ASB announces changes to the Guide to Trade Finance Fees 

From 1 July 2026, the ASB 'Guide to Trade Finance Fees' will be available on asb.co.nz.

Changes include removal of the Trade Finance Loan $75 drawdown fee (for Trade Finance Loan values of NZD2,000 or greater), and simplification of the guide (including removal of unsupported or obsolete products).

ASB announces changes to ASB Personal Banking Terms and Conditions

We will be making changes to our Personal Banking Terms and Conditions effective 29 June 2026

Clause 1 Opening and operating an account

Subclause 1.2 will be amended to:

You must provide proof of your identity and any other information we may require. We may also ask for proof of your identity or additional information at other times, such as when you deposit or withdraw cash.

Clause 23 How someone else can operate your accounts

Subclause 23.2 will be amended to:

Anyone you authorise to operate your account must provide proof of their identity and any other information we may require.

Tertiary and Graduate Account Changes

ASB will be closing their Tertiary and Graduate Accounts and migrating all customers on to a Streamline Account or Everyday Account by the end of June 2026.

Please refer to ASB Bank Limited's Terms and Conditions and the Tertiary, Graduate and Job Starter Terms and Conditions.

ASB announce changes to the ASB Rewards Programme Terms, effective 24 June 2026

We've made changes to our ASB Reward Programme Terms. These changes are effective from 24 June 2026 and can be found on the ASB website from this date.

• Update to clause 3.2 to include the ability to transfer True Rewards dollars to KiwiSaver or donated to charity
• Update to clause 4.2 and 10.2 to include taxation liabilities to excluded True Rewards dollar transactions and examples of quasi cash
• Update to clause 4.7 to reduce notice period of points expiry from 4 months to 90 days
• Update to clause 16.3 to remove reference to the transfer of True Rewards dollars in the event of your death

Changes to the ASB Guide to Fees for Home Loans and Personal Loans

Effective from 15th June 2026, we have made the following changes to our Guide to fees for home loans and personal loans:
Removal of the monthly unarranged overdraft fee; and
In the "Default interest on your Facility Account or Deduction Account" sections, adding the Staff Streamline Account and updating the Orbit FastTrack Facility Account descriptions to clarify that payment dates are 'fortnightly or monthly' in accordance with the customer's Orbit FastTrack Facility.   

ASB SECURITIES - CHANGES TO OUR TERMS AND CONDITIONS

We've made some changes to the ASB Securities Terms and Conditions. These changes will come into effect on 18 June 2026.

An overview of the key changes to the ASB Securities Terms and Conditions are detailed below.
 
ASB Securities Client Services Agreement Terms and Conditions

• We have inserted a new clause 25 which provides:
  
  • after the date of termination of the custody arrangements ASB Nominees will, arrange for the transfer of legal ownership of your Securities to you or a new custodian in accordance with your instructions. You acknowledge that you are responsible for all fees and costs that we or ASB Nominees may incur in transferring (or attempting to transfer) legal ownership of your Securities in accordance with your instructions.
  • If you fail to give us instructions for the transfer of legal ownership of your Securities within 20 Business Days of the date of termination, or if we reasonably determine that it is not possible to transfer legal ownership of your Securities in accordance with your instructions, we may sell your Securities and transfer any cash proceeds, less any reasonable fees and costs incurred by us, to your CMA or another bank account nominated by you.
• Following the above, clause 34 has become clause 35. This clause has also been updated to reference expanded provisions applicable where Securities are held in Custody.

Changes to the ASB Guide to Fees - Personal Banking and Business Banking

Effective from 15th June 2026, the changes described below will be made to the following Guide to fees:

• Guide to fees - An overview of bank fees and charges
• Guide to business banking fees

The monthly unarranged overdraft fee will be removed from both these guides. In addition, the minimum charge of $5.00 on the Monthly Overdraft Facility Fee (arranged overdraft) and the minimum charge of $5.00 on the Commercial Flexible Finance Facility monthly undrawn fee will be removed from the Guide to business banking fees.

ASB is correcting how Account Funding Transactions (AFT) and Quasi‑Cash (QC) transactions are treated on ASB credit cards.

Effective from 31 May 2026, Account Funding Transactions (AFT) and Quasi‑Cash (QC) transactions made on ASB credit cards will be treated as cash advances. This means cash advance interest will begin accruing from the date of the transaction, with no interest-free period.
 
Account funding transactions (AFT) are transactions where a credit card is used to transfer money into another account or digital wallet. Common examples:

• Adding money to Wise
• Sending money via Revolut
• Topping up other payment or wallet services

Quasi-Cash Transactions (QC) are transactions where a credit card is used to buy items that are equivalent to cash. Common examples:

• Buying gambling chips or betting credits on platforms such as bet365, TAB
• Buying foreign currency
• Purchasing cryptocurrency 

Any AFT or QC transactions made before 31 May 2026 will continue to be treated as a purchase for interest purposes.

Business Focus Account Changes

ASB will be closing their Business Focus Account. All customers on this account will be migrated onto a Business Account by the end of June 2026.

Please refer to ASB Bank Limited's Terms and Conditions and Guide to Business Banking Fees.

ASB announce changes to the ASB Credit Card Conditions Of Use, effective 31 May 2026

• Definition of "Cash Advance" has been updated to give more examples of cash advances.
• Definition of Credit Card Account Fee, found in the Guide to Business Banking Fees, has been added.
• Definition of Individual Account Fee, found in the ASB Guide to Fees, has been added.
• All mentions of credit card products now say the full product name, for example, ASB Visa Business Rewards, rather than Visa Business Rewards.
• Change to clause 4.25 to now mention all business cards, including ASB Visa Business Rewards, cannot be used to access other accounts.
• The ASB Guide to Business Banking Fees brochure has been referred to in clauses 4.19, 6.5 and 8.1.
• Clause 4.42 now refers to condition 4.41, which regards instances where ASB will not decline transactions.
• Two bullet points in clause 12.10 have been added, for instances where ASB may cancel a card or close a credit card account without prior notice.
• Clause 13.2 now outlines that a decrease in credit limit is another instance where we will communicate to customers via direct mail of the change.

Changes to ASB Authorised Deposit Card Terms and Conditions

We've made changes to our Authorised Deposit Card Terms and Conditions. These changes are effective from 28 April 2026.

The changes cover the additional benefit of the Authorised Deposit Card allowing cardholders to use the FastChange machine to exchange their cash, in addition to using the Deposit facility on ATMs.

The updated ASB Authorised Deposit Card Terms and Conditions can be found on our website from 28 April 2026.

Changes to ASB Mobile Banking Terms and Conditions

We've made changes to our Mobile Banking Terms and Conditions for ASB's Open Banking Service. These changes are effective from 30 March 2026. Updates have been made to reflect the Open Banking regime now being regulated by the Customer and Product Data Act 2025.

More information:
Open Banking is an industry initiative that is regulated by Ministry of Business, Innovation and Employment. It allows you to securely make payments and share account information with approved third party service providers. Find out more about Open Banking.

The updated ASB Mobile Banking Terms and Conditions can be found on our website from 30 March 2026.

ASB announces changes to the Business, Rural and Corporate Banking Terms and Conditions

Effective from 27 March 2026, the following changes will be made to the Business, Rural and Corporate Banking Terms and Conditions:

1. In relation to Incorporated Societies:

• A change to clause 6.29 to include reference to the Incorporated Societies Act 2022
• A change to clause 11.1v in relation to Suspension of an Account and Payment refusal, to clarify that dissolution includes removal from the relevant register

ASB announces the following Overdraft and Unarranged Overdraft interest rate changes - effective 16 March 2026

The interest rate that applies to all unsecured overdrafts on the bank accounts listed below* will decrease from 19.50% p.a. to 13.90% p.a.

The unarranged overdraft interest rate on the bank accounts listed below* (including for unsecured overdrafts) will decrease from 22.50% p.a. to 13.90% p.a.

Customers with existing interest rates for unsecured overdrafts or unarranged overdrafts that are 13.90% p.a. or lower will continue to have those lower interest rates apply. Interest rates are subject to change.

*Tertiary, Streamline, Job Starter, Graduate, Orbit Home Loan, Orbit FastTrack, HomePlus, Bursary Cheque, Everyday, Flexible Finance Facility, Personal Omni, Omni, Student Cheque, Transaction & Unlimited Account. If this bank account is also a deduction account for a home loan or personal loan, this is the new "unarranged overdraft interest rate" for that loan.

ASB announces changes to the Global Markets Wholesale Derivatives Client Agreement

Effective from 09 March 2026, the following changes will be made to the Global Markets Wholesale Derivatives Client Agreement.

• Updated definition to Schedule 1, "Trade Date and Calculation Periods".
• New Schedule, "11. Commodity swap transactions", added to describe this transaction type.
• Updated Schedule, "12. ISDA Definitions" to include Commodity swap transactions.
• Consequential changes to section, schedule and clause numbering.

ASB announces changes to the Guide to Fees

Effective from 20 February 2026, the Clever Kash replacement fee and the signature check/faxing fee under service charges have been removed.

ASB announces removal of the $5 minimum monthly overdraft facility fee

Effective from 9 Feb 2026 we will no longer charge a $5 minimum monthly charge on the facility fees applied to our Business Overdrafts, Commercial Flexible Finance Facilities, and Business Credit Facilities.

ASB announces the following personal loan fee changes:

Effective from 16 February 2026, for new and existing personal loan customers. 

ASB has removed the following fee:

• Personal loan processing fee