|Tuesday, 25 December||ALL branches closed|
|Wednesday, 25 December||ALL branches closed|
|Tuesday, 1 January||ALL branches closed|
|Wednesday, 2 January||5 & 6 Day branches closed
7 day branches open 10am – 4pm
|Stoddard Road Branch||Closed on Saturday, 29 December|
|The Plaza- Palmerston North||Open 2 January, 10am – 4pm|
|North City- Porirua||Open 27 December, 9am – 4:30pm|
|Barrington Branch||Open Thursday and Friday, 27 and 28 December 10am – 4:30pm|
|Northlands- Papanui||Open Thursday, 27 December 8am – 5pm
Open Wednesday 2 January 10am – 4pm
|Branch||Closed from||Opens from|
|Smales Farm Branch||Tuesday, 25 December||Thursday, 3 January 2019|
|Auckland University Branch||Monday, 24 December 2018||Monday, 7 January 2019|
|Mt Albert Branch||Tuesday, 25 December 2018||Monday, 7 January 2019|
|Waikato University Branch||Thursday, 20 December||Thursday, 3 January|
|Lincoln (Christchurch) Branch||Tuesday, 25 December 2018||Monday, 7 January 2019|
|Asian Banking (Christchurch)||Tuesday, 25 December||Thursday, 3 January 2019|
Changes to our minimum monthly Merchant Service Fee for an ASB Merchant Facility
We've made a change to the minimum monthly Merchant Service Fee, as referred to in schedule 4 clause 1.1(b) of the ASB Merchant Facility Terms and Conditions.
The minimum Merchant Services Fee will be reduced to $15*. This change will take effect on the 31st of December 2018.
*This change excludes merchants who use manual vouchers via ZipZap machines as a method for accepting Visa and Mastercard payments.
ASB announces the following Business and Rural interest rate change:
The Business Floating Base Rate has increased from 3.27% p.a. to 3.37% p.a.
These changes will be effective on and from 07 December 2018. Interest rates are subject to change.
Direct debit processing times have changed
On 28 November 2016 ASB introduced changes to the way that payments are made. One of these changes included processing direct debits earlier in the day rather than after midnight.
We are aware that some customers will have timed deposits to be in their account in the evening before a direct debit is processed, however with the earlier processing of direct debits these may occur before the deposit is in the account. This could result in the direct debit being dishonoured, resulting in unpaid bills and bank fees.
Some ways to avoid this from happening might be to:
If you have been affected by this change please contact us and we will work with you to avoid this occurring in the future. If you have been charged any dishonour fees as a result of the change we may also be able to refund these for you.
Upcoming change to payments
A new industry standard, effective 28 November 2016, will increase the certainty of payments by removing the ability for any electronic payment to be dishonoured due to insufficient funds. An electronic payment is a type of transaction commonly referred to as automatic payments, bill payments and direct credits.
This improvement will mean ASB customers can be confident that they will have full access to electronic payments deposited in to their account from other banks as soon as the payment is received.
Previously most electronic payments were received by ASB from other New Zealand banks as un-cleared funds. This meant that the sending bank could dishonour the payment within 3 business days if the sender did not have sufficient funds.
From 28 November ASB customers will only receive electronic payments in to their account if the sender has sufficient funds to make the payment. The payment will be immediately cleared and available.
Cheques and direct debits can still be dishonoured by the paying bank due to insufficient funds and cheques will continue to take 4 business days to clear.
This change does not affect the way payments are paid from ASB accounts with the exception of direct debits. Please note from the 28 November 2016 ASB will be processing direct debits received from both ASB and other banks earlier during the day instead of at the end of the day. Customers should ensure their accounts have adequate funds to cover any expected debits and be aware the debit may be applied earlier on the scheduled day for payment than it has previously.
We encourage customers to only make and schedule payments using available funds to avoid unexpected fees and interest.
Before confirming any payment, we encourage all customers to always check the payment details. In the event of a mistake, for example paying the wrong account or duplicating a payment, we may still be able to help if we’re immediately contacted. Find out more about this process here.
For our business customers who initiate direct debits, they’ll now be able to approve and submit direct debit files for same day processing until 11pm. This is a change from the current cut-off time of 6pm. Any transactions submitted after 11pm will be held over and processed the next business day soon after 6pm.
If you'd like more information, call us on 0800 803 804, visit your local branch or contact your ASB Relationship Manager.