Notices

Change to Foreign Currency Account and Global Markets Term Deposit Terms and Conditions.

We've made a change to our Foreign Currency Account and Global Markets Terms and Conditions, which is effective from 8 December 2023. The change addresses what happens if a term deposit is opened but is not funded.

ASB announces the following fee removals, and changes to the Guide to fees and Guide to Business Banking Fees - effective 3 December 2023.

ASB wishes to announce the removal of the Staff-assisted Transaction fee on our standard Personal and Business transaction and savings accounts, some Services Charges, the Visa Debit Card fee and the Credit Card Cash Advance fee. These changes are effective from 3 December 2023 which you will see reflected on your 1 January statement.

The asb.co.nz website will reflect these changes from Tuesday, 5 December 2023. The updated Guide to fees will be available here and Guide to Business Banking Fees will be available here.

Changes to True Rewards Card Conditions of Use.

We've made changes to our True Rewards Card Conditions of Use which are effective from 4 December 2023. The changes address the end of the AA Smartfuel programme. You can find the updated True Rewards Card Conditions of Use here.

Important notice for ASB Business, Corporate and Rural customers.

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

The Floating Base Rate has decreased from 7.00% p.a. to 6.94% p.a.

This change will be effective on and from Friday 17 November 2023. Interest rates are subject to change.

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

• The Floating Base Rate has increased from 6.95% to 7.00% p.a.

This change will be effective on and from Thursday 12 October 2023. Interest rates are subject to change.

Changes to ASB Rewards Programme Terms and AA Smartfuel - effective from 4 December 2023

AA Smartfuel have decided to end their programme on Wednesday 31 January 2024.  ASB customers can continue earning AA Smartfuel discounts through their ASB Rewards credit card until Sunday 3 December 2023.  On Monday 4 December 2023 all customers who are earning AA Smartfuel discounts will be automatically switched to earning True Rewards dollars instead. Customers will be able to redeem their AA Smartfuel discounts up until 11:59pm on 31 January 2024.

Changes to ASB Mobile Banking Terms and Conditions

We've made changes to our Mobile Banking Terms and Conditions. These changes are effective from 4 October 2023:

• Clause 8 has been added to cover the use of images (for example, when you upload images to change the image associated with your account).
• Clause 16 has been reorganised and changed to display the updated Privacy Act legislation date, changing from Privacy Act 1993 to Privacy Act 2020.

The updated ASB Mobile Banking Terms and Conditions can be found on our website from 4 October 2023.

Changes to foreign currency cheque acceptance

From 15 November 2023, ASB will no longer accept Australian dollar (AUD) cheques and from 31 March 2024, ASB will no longer accept any other foreign currency cheques.

Customers who receive payment by cheque from overseas are advised to arrange alternative payment methods with the sender of the cheque. 

Please refer to our Foreign Cheques page for more details.

Global equities change to Paris Aligned Index for ASB funds, from 1 September 

The global equities asset class in relevant ASB funds now tracks the MSCI World ex Australia Climate Paris Aligned Index, which is designed to help reduce climate related investment risk and help limit global temperature rise by setting specific investment targets or limits.

The ASB KiwiSaver Scheme NZ Cash Fund isn't part of this change as it is a cash, rather than equities, fund. It also doesn't apply to the Positive Impact Funds in the ASB KiwiSaver Scheme and ASB Investment Funds as these funds invest in companies that make a positive impact on society or the environment. The change does not affect fees associated with any of our funds.

Find out more about what this means for you on our most recent blog. 

ASB announces the following unarranged overdraft fee change - effective 29 September 2023

From 29th September 2023 (inclusive), we are changing the Monthly Unarranged Overdraft fee for business accounts. The fee applies to overdrafts exceeding $20 where there is no arranged limit in place.

The fee is changing to $3 from 0.12% of the highest daily overdrawn balance (minimum charge of $10).

The updated Guide to Business Banking Fees can be found here (from 29 September 2023).

ASB Securities announces the following interest rate change - effective 31 August 2023

To increase ASB Margin Lending interest rate from 8.60% to 9.35% p.a. (+75bps).

Important notice for ASB Business, Corporate and Rural customers

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

The Floating Base Rate has decreased from 6.99% p.a. to 6.95% p.a.

This change will be effective on and from Friday 21 July 2023. Interest rates are subject to change.

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

• The Business Base Rate has increased from 13.62% to 13.77% p.a.
• The Rural Base Rate has increased from 10.86% to 11.01% p.a.
• The Floating Base Rate has increased from 6.84% to 6.99% p.a.
• The Corporate Indicator Rate has increased from 8.03% to 8.18% p.a.

These changes will be effective on and from Monday 3 July 2023. Interest rates are subject to change.

ASB announces the following Savings Plus interest rate changes - effective 1st July 2023.

ASB announces the following Savings interest rate changes - effective 8th June 2023.

ASB is changing the interest rates on the following Savings accounts. These changes are effective 8th June 2023.

Interest rates are subject to change.

Changes to ASB Term Deposit Terms and Conditions

We've made changes to our ASB Term Deposit Terms and Conditions to update the format of the document. These changes are effective from Friday 9 June 2023.  

ASB announces the following Home Lending interest rate changes - effective 1 June 2023.

The Housing Variable Rate has increased from 8.39% p.a. to 8.64% p.a.

The Orbit Home Loan and Orbit FastTrack Home Loan Rates have increased from 8.49% p.a. to 8.74 % p.a.

The HomePlus Interest Rate has increased from 9.89% p.a. to 10.14% p.a.

The ASB Back My Build Variable Rate has increased from 5.94% p.a. to 6.19% p.a.

This change will be effective on and from 1 June 2023 for new home lending customers and on and from 8 June 2023 for existing home loans.

Interest rates are subject to change.

Important notice for ASB Business, Corporate and Rural customers

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

Lending:
The Business Base Rate has increased from 13.37% p.a. to 13.62% p.a.
The Rural Base Rate has increased from 10.61% p.a. to 10.86% p.a.
The Floating Base Rate has increased from 6.73% p.a. to 6.84% p.a.
The Corporate Indicator Rate has increased from 7.78% p.a. to 8.03% p.a.
The Special Purpose Base Rate has increased from 6.50% p.a. to 6.75% p.a.

Savings:
The Business Saver Rate has increased from 2.50% p.a. to 2.70% p.a.
The Corporate Saver Rate has increased from 2.50% p.a. to 2.70% p.a. for non-negotiated accounts.
The Commercial Moneymaker Rate has increased from 2.50% p.a. to 2.70% p.a.
The Business Accelerater Rate has increased from 2.50% p.a. to 2.70% p.a. with bonus interest not currently payable.
The Commercial Call Base Rate has increased from 2.50% p.a. 2.70% p.a.
The Education Admin Cheque Rate has increased from 2.10% p.a. to 2.70% p.a.

These changes will be effective on and from Thursday 1 June 2023. Interest rates are subject to change.

Important notice for ASB Business, Corporate and Rural customers.

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

The Floating Base Rate has increased from 6.64% p.a. to 6.73% p.a.

These changes will be effective on and from Friday 19 May 2023. Interest rates are subject to change.

Important notice for ASB Business, Corporate and Rural customers.

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

The Business Saver Rate has increased from 2.10% p.a. to 2.50% p.a.
The Corporate Saver Rate has increased from 2.10% p.a. to 2.50% p.a. for non-negotiated accounts.
The Commercial Moneymaker Rate has increased from 2.10% p.a. to 2.50% p.a.
The Business Accelerater Rate has increased from 2.10% p.a. to 2.50% p.a. with bonus interest not currently payable.
The Commercial Call Base Rate has increased from 2.10% p.a. to 2.50% p.a.

These changes will be effective on and from Thursday 18 May 2023. Interest rates are subject to change.

Changes to ASB Direct Terms and Conditions for Bulk Direct Credit Service, FastNet Business Terms & Conditions, Merchant Facility Terms and Conditions and Worldline Merchant Tripartite Agreement Terms and Conditions

We've made changes to the above ASB Terms and Conditions. These changes are effective 26 May 2023 and include the following:

• Changes to the T&Cs to reflect the industry move to everyday processing of domestic electronic payments.
• Where appropriate, we have removed reference to business days, public holidays, and weekends.
• Please refer to our Everyday payment processing page for details of the change.

ASB announces the following Foreign Exchange fee change - effective 23 May 2023 

From 23/05/2023 we're changing our send fee related to online outward International Money Transfers (IMTs). 

Online IMTs

Electronic self-service transactions

We've reduced the fee from $15.00 to $5.00, when you use our FastNet online system to send an IMT.

Staff Assisted IMTs

Manual staff assisted transactions

There is no change to the fee for staff assisted IMTs.

All other fees relating to International Money Transfers (sent and received) remain unchanged. 

Credit card late payment fee changes

From Wednesday 7 June 2023 we are reducing the credit card late payment fee from $5 to $4 for all consumer and business credit cards.

The updated ASB guide to fees will be available from the 7 June and can be found here. 

The updated ASB guide to business banking fees will be available from the 7 June and can be found here.

ASB announces the following Savings interest rate changes - effective 27th April 2023.

ASB is changing the interest rates on the following Savings accounts. These changes are effective 27th April 2023.

Interest rates are subject to change.

Changes to our credit card travel insurance provider

ASB announces that from Thursday 1 June 2023, the ASB Visa Platinum Rewards credit card travel insurance will no longer be underwritten by Chubb Life Insurance New Zealand Limited. We have appointed AIG Insurance New Zealand Limited to be the new underwriter of our credit card travel insurance. Please visit our Credit Card Travel Insurance page (available until 31 August 2023) 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 Thursday 1 June 2023 for new and existing customers.

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

The Business Base Rate has increased from 12.87% p.a. to 13.37% p.a.
The Rural Base Rate has increased from 10.11% p.a. to 10.61% p.a.
The Corporate Indicator Rate has increased from 7.28% p.a. to 7.78% p.a.
The Floating Base Rate has increased from 6.30% p.a. to 6.64% p.a.
The Special Purpose Base Rate has increased from 6.00% p.a. to 6.50% p.a.

These changes will be effective on and from Thursday 13 April 2023. Interest rates are subject to change.

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

The Education Admin Rate has increased from 1.75% to 2.10% p.a.

These changes will be effective on and from Saturday 1 April, 2023. Interest rates are subject to change.

ASB announces the following Savings Plus interest rate changes - effective 1st April 2023.

ASB is changing the interest rates on the following Savings accounts. These changes are effective 1st April 2023.

Interest rates are subject to change.

ASB Announces the following Business, Rural and Corporate interest rate changes. 

The Business Saver Rate has increased from 1.75% p.a. to 2.10% p.a.
The Corporate Saver Rate has increased from 1.75% p.a. to 2.10% p.a. for non-negotiated accounts.
The Commercial Moneymaker Rate has increased from 1.75% p.a. to 2.10% p.a.
The Business Accelerater Rate has increased from 1.75% p.a. to 2.10% p.a. with bonus interest not currently payable.
The Commercial Call Base Rate has increased from 1.75% p.a. to 2.10% p.a.

These changes will be effective on and from Thursday 23 March 2023. Interest rates are subject to change.

ASB announces the following Savings interest rate changes - effective 16th March 2023.

ASB is changing the interest rates on the following Savings accounts. These changes are effective 16 March 2023.

Interest rates are subject to change.

Important notice for ASB Business, Corporate and Rural customers.

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

The Floating Base Rate has increased from 6.18% p.a. to 6.30% p.a.

This change will be effective on and from Friday 17 March 2023. Interest rates are subject to change.

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

The Business Base Rate has increased from 12.37% p.a. to 12.87% p.a.

The Rural Base Rate has increased from 9.61% p.a. to 10.11% p.a.

The Corporate Indicator Rate has increased from 6.78% p.a. to 7.28% p.a.

The Floating Base Rate has increased from 6.06% p.a. to 6.18% p.a.

The Special Purpose Base Rate has increased from 5.50% p.a. to 6.00% p.a.

These changes will be effective on and from Thursday 2 March 2023. Interest rates are subject to change.

Changes to ASB Personal Banking Terms and Conditions

We’ve made changes to the Personal Banking Terms and Conditions.  These changes are effective 7 March 2023 and include the following:

• Sanctions: We’ve included information in clauses 8 and 13 regarding when we can refuse to make a payment or suspend an account where there is a direct or indirect connection to a New Zealand or international sanctions regime, person or activity. We’ve also clarified in clause 7 that we may reverse payments paid into your account where we are required to do so by law or to comply with a New Zealand or international sanctions regime.
• Direct Debits: We’ve included information in clause 10 to outline and clarify our Direct Debit cancellation process.
• Electronic communications: We’ve removed reference to the web browser “Internet Explorer” due to it being obsolete.

Updates to our Visa Platinum Rewards credit card travel policy

ASB announces that from Monday 6 March 2023, ASB Visa Platinum Rewards credit card travel insurance will now be underwritten by Chubb Life Insurance New Zealand Limited after it rebranded from Cigna Life Insurance New Zealand Limited. The terms and conditions including the exclusions and limitations that apply to travel insurance remain unchanged.

This change is effective from Monday 6 March 2023 for new and existing customers.

Important notice for ASB Business, Corporate and Rural customers

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

The Floating Base Rate has increased from 5.80% to 6.06% p.a.

This change will be effective on and from Friday 17 February 2023. Interest rates are subject to change.

ASB announces the following changes to business transaction and savings accounts fees, Guide to Business Banking Fees – effective 1 January 2023

ASB wishes to announce some changes to the fees for business transaction and savings accounts. These are effective from 1 January 2023, and you will see the changes first reflected on your 1 February statement.

Monthly base fee

We have removed the standard $7.50 monthly base fee from the Business Focus account.

Electronic self-service transactions

We have removed the standard $0.25 fee for a range of electronic self-service transactions (including ATM deposit and withdrawal, EFTPOS withdrawal, One-off, IRD, Bill and Automatic payment and outward direct debit, account transaction fee for inward direct debit and bulk payment) on the Business Account, High Interest Business Account, Commercial Flexible Finance Facility, Development Funding Facility, Commercial Credit Facility, Rural Account, Rural Credit Facility, Business Accelerater, Commercial Moneymaker, Business Saver and Corporate Saver.

There is no change to FastNet Business fees including inward direct debit and bulk payments completed via FastNet Business.

The new fees will be available on asb.co.nz from Thursday, 26 January 2023. The updated Guide to Business Banking Fees is available here and Commercial Moneymaker and Business Accelerator fees are available here.

ASB Securities announces the following interest rate change - Effective 26 January 2023

To increase ASB Margin Lending interest rate from 7.95% to 8.60% p.a. (+65bps)

Important changes to ASB home Loans

ASB will remove the Orbit and Orbit FastTrack account monthly base fee, effective from Thursday 2 February 2023 for new and existing home loan customers.

Fees are subject to change. ASB Bank Limited.

Important notice for ASB Business, Corporate and Rural customers.

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

The Floating Base Rate has increased from 5.57% to 5.80% p.a.

This change will be effective on and from Friday 20 January 2023. Interest rates are subject to change.

ASB announces the following Personal Banking Transaction account fee changes - effective 1 February 2023.

ASB wishes to announce some changes to the fees on our Streamline and Unlimited accounts.  From 01 February 2023 the new fees will be:

Streamline
Monthly base fee: Free

Unlimited
Monthly base fee: Free

ASB announces the following Savings interest rate changes - effective 23rd of December 2022.

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

These changes are effective 23rd of December 2022.

Interest rates are subject to change.

ASB Merchant Service Fee rebate ends as interchange fee regulation comes into effect

In December 2020, ASB introduced a rebate on Merchant Service Fees for eligible customers until Government regulation of merchant service fees came into effect. As the interchange fee component of the Retail Payment System Act 2022 came into effect mid-November 2022, the Merchant Service Fee rebate has now ended.

Important notice for ASB Business, Corporate and Rural customers.

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

The Floating Base Rate has increased from 5.54% to 5.57% p.a.

This change will be effective on and from Friday 16 December 2022. Interest rates are subject to change.

ASB announces the following Savings interest rate changes - effective 14th December 2022.

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

These changes are effective 14th December 2022.

Interest rates are subject to change.

Changes to ASB Business, Rural and Corporate Banking Terms and Conditions

We've made changes to the ASB Business, Rural and Corporate Banking Terms and Conditions. These changes are effective 16 December 2022 and include the following:

• Sanctions: We've included information in clause 11 regarding when we can refuse to make a payment or suspend an account where there is a direct or indirect connection to a New Zealand or international sanction regime, person or activity. We've also provided additional examples of when we may reverse payments made into your account, and that we will let you know if we do this.
• Fair Use Policy: We've introduced a new Fair Use Policy section. Section 10 - Fair Use Policy outlines in what circumstances the bank would consider use of an Account, Product or Service to be outside of fair usage. We've outlined what action may be taken if the Policy is not complied with.
• Formatting: We've made corrections to cross-references, updated subclause formatting, and made minor formatting changes.

Changes to ASB Foreign Exchange Terms and Conditions

We've made changes to our Foreign Exchange Terms and Conditions which are effective from 16 December 2022. We have:

• Removed provisions about us taking steps to stop payments on foreign cheques issued by ASB.
  
• Clarified when we can refuse to act on your instructions, including where they may have a direct or indirect connection to a New Zealand or any international sanctions regime, sanctioned person, or sanctioned activity.
  
• Removed reference to fees and charges on non-ASB accounts, to reflect that we longer issue international money transfers to people without an ASB account.
  

Important notice for ASB Business, Corporate and Rural customers.

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

Lending:
The Business Base Rate has increased from 11.62% to 12.37% p.a.
The Rural Base Rate has increased from 8.86% to 9.61% p.a.
The Corporate Indicator Rate has increased from 6.03% to 6.78% p.a.
The Special Purpose Base Rate has increased from 4.75% to 5.50% p.a.
The Floating Base Rate has increased from 5.25% to 5.54% p.a.

Savings:
The Business Saver Rate has increased from 1.00% to 1.75% p.a.
The Corporate Saver Rate has increased from 1.00% to 1.75% p.a. for non-negotiated accounts.
The Commercial Moneymaker Rate has increased from 1.00% to 1.75% p.a.
The Business Accelerater Rate has increased from 1.00% to 1.75% p.a. with bonus interest not currently payable.
The Commercial Call Base Rate has increased from 1.00% to 1.75% p.a.
The Education Admin Rate has increased from 1.00% to 1.75% p.a.

These changes will be effective on and from Thursday 1 December 2022. Interest rates are subject to change.

ASB Securities announces the following interest rate changes - Effective 30 November 2022

• To increase ASB Margin Lending interest rate from 6.95% to 7.95% p.a. (+100bps); and
• To increase ASB Cash Management Account interest rate as follows:

Changes to ASB Credit Card Conditions of Use

We've made changes to our Credit Card Conditions of Use. These changes are effective from 07 December 2022:

Amendments have been made to:

- Condition 14 "Confidentiality of your information". Clause 14.9 has been updated to display the updated Privacy Act legislation date, changing from Privacy Act 1993 to Privacy Act 2020.

The updated Credit Card Conditions of Use can be found on our website from 07 December 2022.

Important notice for ASB Business, Corporate and Rural customers.

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

The Floating Base Rate has increased from 5.01% to 5.25% p.a.

This change will be effective on and from Friday 18 November 2022. Interest rates are subject to change.

Changes to ASB FastNet Business Terms and Conditions

We've made minor typographical and formatting changes to our FastNet Business Terms and Conditions. These changes are effective from 28 November 2022.

Changes to ASB Merchant Services Terms and Conditions

We’ve made changes to the ASB Merchant Services Terms and Conditions. These changes are effective 1 December 2022 and include the following:

• Changed “Paymark” to “Worldline” throughout the document and the “Worldline” definition to “Paymark Limited, trading as Worldline NZ” to reflect the updated trading name.
• Added clause 2.2 to clarify fees applicable when an ASB Accept terminal is lost, stolen or damaged.
• Minor formatting and typographical changes.

Changes to Paymark Merchant Tripartite Agreement Terms and Conditions

We’ve made changes to the Paymark Merchant Tripartite Agreement Terms and Conditions. These changes are effective 1st December 2022 and include the following:

Changes to reflect Paymark’s rebranding as “Worldline”:

• The agreement has been renamed the “Worldline Merchant Tripartite Agreement Terms and Conditions”.
• References to “Paymark” have been replaced with references to “Worldline” throughout the agreement.

Changes to when the agreement may be terminated and the effects of termination on renewal:

• Clause 13.1(g) and (h) “Duration of Agreement” have been added to specify that the Merchant may terminate the agreement for convenience at any time by giving not less than 60 days’ notice to the Bank and Worldline and that the Bank or Worldline may terminate the agreement for convenience by giving not less than 90 days’ written notice to the Merchant, such notice to expire at the end of the then current term.
• Clause 13.2 “Automatic Renewal” has been updated to clarify that it does not apply if the agreement is “terminated in accordance with clauses 13.1(a) to 13.1(h)”.
• Clause 16.3 “Amendment and Notice of Variation of Fees” has been updated to clarify that the Merchant may terminate the agreement by notice in accordance with clause 13.1(e) where Worldline or the Bank amend the agreement, or notify the Merchant of any variation or supplement to fees and charges, or assign the agreement.

Changes to fees:

• Schedule 1 “EFTPOS Administration Fee” has been updated from “$18.00” to “$18.90” per month or part month (plus GST) per Merchant Terminal record entered on the System (regardless of Transaction volume).

Changes granting the Merchant’s consent to Worldline processing certain information that contains the Merchant’s intellectual property rights:

• Clause 10.7 “Ownership of Intellectual Property” has been updated to provide the Merchant’s consent to Worldline processing information about the Merchant’s Transactions subject to certain criteria where the Merchant has Intellectual Property Rights in transaction information independent of the agreement.

Other changes to limit or clarify some of our rights, or expand some of the Merchant’s rights:

• Clause 12.4(b) “Indemnity by Merchant” has been updated to specify that the Merchant's indemnity to the Bank for any liability, loss, or cost arising from a Disputed Transaction applies “except to the extent directly caused by the Bank’s fraud, negligence or wilful misconduct”.
• Clause 16.4 “Assignment” has been updated to specify that the Merchant can now assign or transfer its rights or obligations under the agreement to another person as long as it obtains the prior written consent of both Bank and Worldline, such consent not to be unreasonably withheld.

Important notice for ASB Business, Corporate and Rural customers.

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

The Education Admin Rate has increased from 0.70% to 1.00% p.a. 

This change will be effective on and from Tuesday 1 November 2022. Interest rates are subject to change.

ASB announces the following Savings interest rate and Call Account changes effective 25th October 2022.

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

These changes are effective 25th October 2022.

Important notice for ASB Business, Corporate and Rural customers.

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

The Floating Base Rate has increased from 4.62% to 5.01% p.a.

This change will be effective on and from Friday 21 October 2022. Interest rates are subject to change.

Important notice for ASB Business, Corporate and Rural customers

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

Lending:
The Business Base Rate has increased from 11.12% to 11.62% p.a.
The Rural Base Rate has increased from 8.36% to 8.86% p.a.
The Corporate Indicator Rate has increased from 5.53% to 6.03% p.a.
The Special Purpose Base Rate has increased from 4.25% to 4.75% p.a.

Savings:
The Business Saver Rate has increased from 0.70% to 1.00% p.a.
The Corporate Saver Rate has increased from 0.70% to 1.00% p.a. for non-negotiated accounts.
The Commercial Moneymaker Rate has increased from 0.70% to 1.00% p.a.
The Business Accelerater Rate has increased from 0.70% to 1.00% p.a. with bonus interest not currently payable.
The Commercial Call Base Rate has increased from 0.70% to 1.00% p.a.

These changes will be effective on and from Thursday 13 October 2022. Interest rates are subject to change.

Changes to ASB Term Deposit Terms and Conditions, Foreign Currency account and Global Markets Term Deposit Terms and Conditions

We've made changes to our Term Deposit Terms and Conditions, Foreign Currency account and the Global Markets Term Deposit Terms and Conditions. These changes are effective from the 17th of October. The changes made are to include additional information on Term Deposit early withdrawals and grace periods. 

Proposed changes to our True Rewards Programme

After listening to feedback we have decided to press pause on this change, and take this feedback into account.

The proposed changes were due to come into effect next month, no earn rate changes have been made at this time.

ASB Announces the following Business, Rural and Corporate interest rate change:

The Business Floating Base Rate has increased from 4.50% to 4.62% p.a. This change will be effective on and from Friday 16 September 2022.

Interest rates are subject to change.

Changes to ASB True Rewards and AA Smartfuel discount earn rates

We've made changes to our True Rewards and AA Smartfuel discount earn rates. These changes are effective from 04 October 2022:

Earn rate changes as follows:

*Correction to AASF earn rate as at 16th September 2022 from $80 to $85 = 1c per litre discount

ASB announces the following Savings interest rate changes - effective Thursday 1 September 2022.

ASB is changing the interest rates on the following Savings accounts. These changes are effective Thursday 1 September 2022.

Interest rates are subject to change.

Important notice for ASB Business, Corporate and Rural customers.

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

Lending:

The Business Base Rate has increased from 10.62% to 11.12% p.a.

The Rural Base Rate has increased from 7.86% to 8.36% p.a.

The Floating Base Rate has increased from 4.29% to 4.50% p.a.

The Corporate Indicator Rate has increased from 5.03% to 5.53% p.a.

The Special Purpose Base Rate has increased from 3.75% to 4.25% p.a.

Savings:

The Business Saver Rate has increased from 0.55 % to 0.70 % p.a.

The Corporate Saver Rate has increased from 0.55% to 0.70% p.a. for non-negotiated accounts.

The Commercial Moneymaker Rate has increased from 0.55% to 0.70% p.a.

The Business Accelerater Rate has increased from 0.55% to 0.70% p.a. with bonus interest not currently payable.

The Commercial Call Base Rate has increased from 0.55% to 0.70% p.a.

The Education Admin Rate has increased from 0.55% to 0.70% p.a. 

These changes will be effective on and from 1 September 2022. Interest rates are subject to change.

ASB Securities announces the following interest rate change - effective 30 August 2022

To increase ASB Margin Lending interest rate from 6.45% to 6.95% p.a. (+50bps)

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

The Business Floating Base Rate has increased from 4.15% to 4.29% p.a.

This change will be effective on and from Friday 19 August 2022. Interest rates are subject to change.

Changes to ASB Merchant Services Terms and Conditions

We've made changes to the ASB Merchant Services Terms and Conditions. These changes are effective 26 August 2022 and include the following:

Changes to how agreements are extended and when they may be terminated:

• Clause 2.2 "Automatic Extension" has been updated so that Fixed Term Agreements become Open Term Agreements at the end of the Initial Term or current Subsequent Term. Previously, a Fixed Term Agreement would have automatically extended for a further term of equal length to the initial term.
• Clause 10.3(c) "Termination by us" has been updated to specify that we may only terminate for breach of the Agreement where you have breached in a way which we reasonably consider creates a material risk to us; that where we can terminate because you have done certain things without our written consent, we shall not unreasonably withhold consent; and that where we can terminate because of something we consider has happened or in our opinion has happened, that consideration or opinion must be reasonable.

Changes to simplify and clarify termination fees:

• Clause 11.1 "Termination Fee" has been updated to simplify the calculation of termination fees payable upon the termination of a Fixed Term Agreement. The Termination Fee will now be calculated by "(a) the monthly average of your Merchant Service Fees paid over the previous 12 months, (b) multiplied by the number of months remaining under the Agreement, and (c) then multiplied by 0.25."
• Clause 11.2 "ASB Accept termination fee" has been updated to clarify that the fee is intended to recover the costs we incur as a result of the supplier refurbishing the terminals to market specifications.

Other changes to limit or clarify where we may do certain things, or expand where you can do certain things:

• Clause 4.7 "Security" has been updated to specify that we may only require you to provide security where we reasonably consider it necessary, rather than if we request.
• Clause 6.1(d) "Invalid Transactions" has been updated to say that a transaction shall be invalid if the price charged under a Transaction is in excess of "a reasonable charge", rather than "your normal price".
• Clause 7.1(d) "Chargebacks" has been updated to specify that we can refuse to accept or charge back a Transaction to you if we dispute liability on reasonable grounds including where you have not complied with the Agreement, rather than if we dispute liability for any reason.
• Clause 8.4 "Your Indemnity" has been updated to clarify that your indemnity of us is subject to our indemnity of you in clause 8.2.
• Clause 9 "Exclusivity" has been updated to specify that your agreement not to receive any merchant services from another financial institution is limited to services that are similar to the Services provided under the Agreement from time to time. You can still receive merchant services from the providers stated in the Agreement or as expressly agreed in writing by us.
• Clause 10.7(b) and (c) "Suspension" have been updated to specify that our ability to exercise our suspension rights where you are unlikely to meet your payment or other obligations or to meet applicable rules or laws shall be limited to where this is the case in our reasonable opinion.
• Clause 14.1 "Assignment" has been updated to specify that we can only assign or transfer our rights under the Agreement to any person where we consider appropriate.
• Schedule 4 Clause 4.1 "Our liability for mPOS" has been updated to specify that the limitation of our liability does not apply in instances of our fraud, negligence or wilful misconduct, rather than in instances of wilful default or fraud.

Changes to clarify the Privacy terms:

• Clause 13 has been renamed from "Consent" to "Privacy".
• Clause 13.3 "Acknowledgement" has been updated to specify that we will collect information about you in accordance with both the Agreement and our Privacy Statement at asb.co.nz.

We have also amended clause 14.2(d) and Schedule 2 clause 4.1 to correct typographical errors.

Changes to ASB FastNet Business Terms and Conditions

We've made changes to the ASB FastNet Business Terms and Conditions. These changes are effective 26 August 2022 and include the following:

• Notice of change of Approved or User Limits: We've changed clause 3.2 to specify that we can only change Approved Limits or User Limits without notice where we reasonably consider necessary, including to reduce the risk of fraud or to prevent a material risk. We can still change Approved Limits or User Limits in other circumstances if we provide notice.
• BankDirect accounts: We've removed the reference to payments made to non-Bank Direct accounts in clause 4.1(d) because these accounts no longer exist.
• Privacy: We've updated clause 4.4, which relates to privacy, to include a reference to our privacy policy available at asb.co.nz.
• Indemnity and liability: We've changed clauses 8.1 and 12.1 to specify that your indemnity to us and our limitation of liability to you does not apply to the extent the relevant loss is caused directly by our fraud, negligence or wilful misconduct.
• Certificates: We've also changed clause 8.1 to specify that the amount we certify is required to indemnify us will be sufficient evidence of that amount but only in the absence of evidence to the contrary.
• Termination: We've changed clause 9.3(c) to specify that where we can cancel your FastNet Business access immediately because you give us reasonable cause to believe there are reasonable grounds to do so, we may only do so to manage an immediate or material risk.
• Notice of changes to these Terms and Conditions: We’ve changed clause 11.1 to add that we can provide you with notice of changes to these Terms and Conditions by any other method of electronic communication used by you, in addition to by direct communication, by display in our branches, by notice in the media (including public notice) and by notice on our website.
• Cross referencing: We've also amended clause 1.8 to correct a cross reference to clause 9.
  

Changes to ASB Securities Terms and Conditions

We've made changes to the ASB Securities Terms and Conditions. These changes are effective 26 August 2022 and include the following:

• Acceptance of instructions: We've change clause 14.5(c) to specify that we are only entitled to rely on an Instruction as evidence of the accuracy of the information contained in the Instruction (and the Instruction having been made with the express authority of you) in the absence any evidence to the contrary.
• Liability: We've changed clause 31 by removing a subclause that said we would not be liable for any loss or damage arising from a failure by ASB Securities or any of its custodians or agents to perform their obligations.
  
• Amendments: We've changed clause 33.1 to clarify that any amendments to the ASB Securities Terms and Conditions must be made in accordance with the ASB Business, Rural and Corporate Banking Terms and Conditions.
  
• Indemnity: We've added a new sub-clause 36.2 which specifies that any indemnity provided by you under clause 36.1 is reduced to the extent that our negligence, wilful misconduct or fraud contributes to the amount claimed.
• Privacy: We've updated the reference to the Privacy Act 1993 in clause 37.7 to the new Privacy Act 2020.

Changes to ASB Business, Rural and Corporate Banking Terms and Conditions

We've made changes to the ASB Business, Rural and Corporate Banking Terms and Conditions. These changes are effective 26 August 2022 and include the following:

• Highlights: We've included a new section at the beginning of these Terms and Conditions that highlights some of the important provisions. 
• Liability and indemnity: We've included "Loss" as a new defined term in clause 1 and simplified and clarified the liability and indemnity provisions in clauses 2, 21.22-25 and 22.1, including by using this new defined term, separating the liability and indemnity provisions in clause 2 into different sub-clauses, and removing or narrowing some of the circumstances in clause 2 where you will indemnify us for Loss and we will not be liable to you. We've also changed clause 2.4 to specify that your liability to ASB for Loss arising from unauthorised access to your account excludes Loss directly caused by our fraud, negligence or wilful misconduct.
• Notice of changes to these Terms and Conditions: We've clarified that our ability to change these Terms and Conditions is subject to the notice provisions in clause 3.4. We've also combined what was clause 3.10 into clause 3.9 to state that other information or changes that may affect your business can also be communicated by notice on our website. 
• Correctness of account statement: We've changed clause 6.13 by removing that we have a full defence against any claims by you in relation to your account if you do not notify us of an error in your bank statement within 60 days. We've also amended clause 6.13 to specify that your failure to notify us within 60 days is only deemed acceptance by you of the correctness of your account balance, all transactions recorded in your bank statement, and other account information in the absence of evidence to the contrary.
• Overdrafts: We've changed clause 16.3 to clarify that the amount you owe us on your overdraft will be set out in your statement.
• Automatic payment authority: We have defined the reference to automatic payment authority in clause 17.9.  
• Term Deposits: We've included details on where you can find further information on early withdrawals of term deposits. We've also clarified by including a new cross reference in clause 18.9(b) that the charges payable in when we end a term deposit before its maturity date are only payable when we end the term deposit in accordance with clause 11.6. 
• Save the Change: We've changed clause 20.1 to specify that we must provide notice in accordance with clause 3 if we vary, change, suspend or withdraw Save the Change. 
• ASB Business Express Deposits: We've changed clause 22.1(ii) by removing that deposits verified and corrected by us are final, conclusive and binding on you. All deposits are still subject to verification and correction by us. We've also noted that full details of a cash handling or correction fee are available at asb.co.nz as well as our Guide to Business Banking Fees and any branch. 
• Privacy: We've updated clause 24 to clarify how, when, why, and what personal information we collect, and to refer you to ASB's Privacy Statement on our website for further information. We also provide more detail on the situations where ASB may be required to send your information overseas and that when doing so we make sure there are appropriate privacy, data handling and security arrangements in place to protect your information.

We have also corrected minor typographical errors and made some stylistic changes, such as breaking long sentences into subclauses, to make these Terms and Conditions easier to read.  

Changes to ASB Personal Banking Terms and Conditions

We've made changes to our Personal Banking Terms and Conditions. These changes are effective from 10 August 2022:

Amendments have been made to the "Overdrafts" section to remove:

A clause describing a two-year interest free overdraft benefit available on ASB Job Starter’s account if applied to the account before 21 September 2017.

The updated Personal Banking Terms and Conditions can be found on our website from 10 August 2022.

Changes to ASB Tertiary, Graduate and Job Starter’s accounts Banking Terms and Conditions

We've made changes to our Tertiary, Graduate and Job Starter’s account Banking Terms and Conditions. These changes are effective from 10 August 2022.

Amendments have been made to remove:

A clause describing a two-year interest free overdraft benefit available on ASB Job Starter’s account if applied to the account before 21 September 2017.

The updated Personal Banking Terms and Conditions can be found on our website from 10 August 2022.

ASB announces the following Savings interest rate changes - effective Wednesday 27 July 2022.

ASB is changing the interest rates on the following Savings accounts. These changes are effective Wednesday 27 July 2022.

Interest rates are subject to change.
 

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

The Education Admin Rate has increased from 0.30% to 0.55% p.a.
This change will be effective on and from 1 August 2022.

Interest rates are subject to change.

Changes to ASB's Overdraft fees

From Sunday 14 August 2022 we are reducing the Overdraft monthly facility fees.

The monthly facility fee for unarranged Overdrafts will be $3. The monthly facility fee for arranged Overdrafts -  temporary and permanent will be removed.

The ASB guide to fees can be found here.

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

Lending:

The Business Base Rate has increased from 10.12% to 10.62% p.a.

The Rural Base Rate has increased from 7.36% to 7.86% p.a.

The Floating Base Rate has increased from 3.57% to 4.15% p.a.

The Corporate Indicator Rate has increased from 4.53% to 5.03% p.a.

The Special Purpose Base Rate has increased from 3.25% to 3.75% p.a.

Savings:

The Business Saver Rate has increased from 0.30% to 0.55% p.a.

The Corporate Saver Rate has increased from 0.30% to 0.55% p.a for non-negotiated accounts.

The Commercial Moneymaker Rate has increased from 0.30% to 0.55% p.a.

The Business Accelerater Rate has increased from 0.30% to 0.55% p.a with bonus interest not currently payable.

The Commercial Call Base Rate has increased from 0.30% to 0.55% p.a.

This change will be effective on and from 22 July 2022. Interest rates are subject to change.

ASB announces the following Savings interest rate changes - effective 1 July 2022.

ASB is changing the interest rates on the following Savings account. These changes are effective 1 July 2022.

Interest rates are subject to change.

ASB Securities announces the following interest rate change - effective 28 July 2022

To increase ASB Margin Lending interest rate from 5.45% to 6.45% p.a. (+100bps)

Update to CMP Terms and Conditions from 25 July 2022.

From 25 July we are making changes to our Card Manager Professional Terms and Conditions. The updated clause reads as follows:

You agree to indemnify us against any costs or losses we suffer due to any such downloading or exporting of Cardholder or Visa Business Account transaction data, including as a result of any unauthorised use or disclosure, or breach of cardholder privacy, except to the extent that such costs or losses are caused by our fraud, negligence or wilful misconduct. This applies to all customers using CMP.

The updated Card Manager Professional Terms and Conditions can be found on our website from 25 July 2022 here.

ASB announces Personal Loan rate change

From Thursday 28 July 2022, we are increasing the Personal Loan Interest rate from 12.90% pa to 13.90% p.a. for all new Personal Loans including top ups to existing loans.

Changes to FastNet Classic Terms and Conditions

We've made changes to our FastNet Classic Terms and Conditions. These changes are effective from 18 July 2022:

We have added a clause (7.6) under ‘Collecting your personal information’ confirming customers shouldn’t identify themselves within Josie chatbot.

We have added a clause (7.14) under ‘Holding your personal information’ around storage of Josie chatbot dialogue.

The updated FastNet Classic Terms and Conditions can be found on our website from 18 July 2022.

ASB announces the following Savings interest rate changes - effective 1 July 2022.

ASB is changing the interest rates on the following Savings account. These changes are effective 1 July 2022.

Interest rates are subject to change.

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

The Floating Base Rate has increased from 3.43% to 3.57% p.a.

This change will be effective on and from 17 June 2022. Interest rates are subject to change.

ASB announces the following Savings interest rate changes effective 2 June 2022:

ASB is changing the interest rates on the following Savings accounts. These changes are effective 2 June 2022. 

Interest rates are subject to change.

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

The Floating Base Rate has increased from 3.10% to 3.43% p.a.

The Rural Base Rate has increased from 6.86% to 7.36% p.a.

The Business Base Rate has increased from 9.62% to 10.12% p.a.

The Corporate Indicator Rate has increased from 4.03% to 4.53% p.a.

The Special Purpose Base Rate has increased from 2.75% to 3.25% p.a.

These changes will be effective on and from 1 June 2022. Interest rates are subject to change.

Changes to ASB Personal Banking Terms and Conditions

We've made changes to our Personal Banking Terms and Conditions. These changes are effective from 13 June 2022:

Amendments have been made to the "Electronic Communications" section to include:

• Email and text message to the ways we can electronically send you documents, notices and communications (including making disclosures required by the Credit Contracts and Consumer Finance Act 2003).
• Clarification around joint card holder delivery via email.

The updated Personal Banking Terms and Conditions can be found on our website from 13 June 2022.

Changes to ASB Credit Card Conditions of Use

We've made changes to our Credit Card Conditions of Use. These changes are effective from 13 June 2022:

Amendments have been made to:

• Condition 14 "Confidentiality of your information" to update language and clarify more clearly that we will hold and use customer information to comply with our legal obligations; and
• Condition 15 "Electronic Disclosure". Clause 15.3 has been updated to include email and text message to the ways we can electronically send you documents, notices and communications (including making disclosures required by the Credit Contracts and Consumer Finance Act 2003). A new clause 15.4 has been added to clarify joint card holder delivery via email.

The updated Credit Card Conditions of Use can be found on our website from 13 June 2022.

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

The Floating Base Rate has increased from 2.89% to 3.10% p.a.

This change will be effective on and from 20 May 2022. Interest rates are subject to change.

Smart Trade - Changes to our Terms and Conditions

What are the changes?

Trade Finance rates and fees will no longer be displayed on ASB website, to provide tailored solutions as per customer needs. Rates and fees for Trade Finance products will continue to be available on request from our branch or from your Relationship Manager.

The updated Terms and Conditions can be found on our website on and from 27 May 2022. 

ASB announces the following Business, Rural and Corporate Interest Rate change:

The Education Administration Rate has increased from 0.20% to 0.30% p.a.

This change will be effective on and from Sunday 1 May 2022. Interest rates are subject to change.

ASB announces the following Business, Rural and Corporate Interest Rate changes:

Lending:

The Business Base Rate has increased from 9.12% to 9.62% p.a.

The Corporate Indicator Rate has increased from 3.53% to 4.03% p.a.

The Rural Base Rate has increased from 6.36% to 6.86% p.a.

The Special Purpose Base Rate has increased from 2.25% to 2.75% p.a.
 

Savings:

The Business Saver Rate has increased from 0.20% to 0.30% p.a.

The Business Moneymaker Rate has increased from 0.20% to 0.30% p.a.

The Business Accelerater Base Rate has increased from 0.20% to 0.30% p.a. with bonus interest not currently payable.

The Corporate Saver Rate has increased from 0.20% to 0.30% p.a. for non-negotiated accounts.

The Commercial Call Base Rate has increased from 0.20% to 0.30% p.a.
 

These changes will be effective on and from Wednesday 27 April 2022. Interest rates are subject to change.

ASB announces the following Savings interest rate changes effective 27th April 2022.

ASB is changing the interest rates on the following Savings accounts. These changes are effective 27th April 2022. 

Interest rates are subject to change.

ASB announces the following Business and Rural interest rate change:

The Floating Base Rate has increased from 2.34% p.a. to 2.89% p.a.

This change will be effective on and from 22 April 2022. Interest rates are subject to change. 

ASB announces the following Savings interest rate changes - effective 1 April 2022

ASB is changing the interest rates on the following Savings account. These changes are effective 1 April 2022. 

Interest rates are subject to change.

ASB announces changes to cash handling fees

Effective from 06 May 2022 cash handling fees will no longer apply to personal account customers.

ASB Securities announces the following interest rate change - effective 20 April 2022

To increase ASB Margin Lending interest rate from 4.95% to 5.45% p.a. (+50bps).

ASB announces the following Business Banking account fee changes - effective 1 May

From 1 May, we're removing and changing some of our fees for business transaction and saving accounts. 

Transaction accounts

We've removed the monthly base fee from the Business Account and the Commercial Credit Facility (previously up to $5 per month).

Electronic self-service transactions

Internal transfers between your ASB accounts (via online banking, FastPhone, and ASB ATM), ASB ATM deposit, and Business Express Deposit are now free for the Business Account, High Interest Business Account, Commercial Flexible Finance Facility, Development Funding Facility and Commercial Credit Facility.

Electronic transaction fees (including ATM deposit and withdrawal, Bill Payment, and Automatic Payment) have decreased to $0.25 (previously up to $0.50) for the Business Account, High Interest Business Account, Commercial Flexible Finance Facility, Development Funding Facility and Commercial Credit Facility.

There is no change to the fees for FastNet Business bulk payments or inward direct debits.

Manual staff-assisted transactions

Transactions completed via branch, contact centre, or business banking centres have increased from ($0.60 - $0.65) to $0.80 for Business Focus, Business Account, High Interest Business Account, Commercial Flexible Finance Facility, Development Funding Facility and Commercial Credit Facility.

Savings accounts

We've removed the monthly base fee from the Commercial Moneymaker account (previously up to $2 per month).

Electronic self-service transactions

Internal transfers between your ASB accounts (via online banking, FastPhone, and ASB ATM), ASB ATM deposit, and Business Express Deposit are now free for Business Saver, Commercial Moneymaker, and Business Accelerater.

ATM deposits and withdrawals, EFTPOS withdrawals, One-Off payments, IRD payments and bill payments have decreased from ($0.50 - $5.00) to $0.25 for Business Saver, Commercial Moneymaker, and Business Accelerater.

There is no change to the fee for FastNet Business bulk payments.

Manual staff-assisted transactions

The Business Saver branch deposit fee has increased from $0.00 to $0.80.
The fee for withdrawal, transfer, One-Off payment, IRD payment (via branch, contact centre, business banking centres and ASB Virtual branch) is now $0.80 (previously up to $5.00) for Business Saver, Commercial Moneymaker, and Business Accelerater accounts. 

The new fees will be available on asb.co.nz from Friday 29th April 2022. Fees are subject to change at any time.

Changes to ASB Rewards Programme Terms

We've made changes to our Rewards Programme Terms. These changes are effective from 1 May 2022:

Clause 18.1 has been updated to change the notification period for changes to the value of True Rewards dollars, the number of True Reward dollars to be accrued or the level of AA Smartfuel Discount to be accrued from at least three months prior notice to at least 14 days' prior notice.

The updated ASB Rewards Programme terms can be found on our website from 1 May 2022.

Credit card late payment fee changes.

From Wednesday 13 April 2022 we are reducing the Credit card late payment fee from $9 to $5 for all consumer and business credit cards.

The ASB Guide to fees is available here.

The ASB Guide to business banking fees is available here.

ASB announces the following Business, Rural and Corporate Interest Rate changes:

Lending:

The Business Base Rate has increased from 8.87% to 9.12% p.a.

The Business Floating Base Rate has increased from 2.20% to 2.34% p.a.

The Corporate Indicator Rate has increased from 3.28% to 3.53% p.a.

The Rural Base Rate has increased from 6.11% to 6.36% p.a.

The Special Purpose Base Rate has increased from 2.00% to 2.25% p.a.

Savings:

The Business Saver Rate has increased from 0.15% to 0.20% p.a.

The Business Moneymaker Rate has increased from 0.15% to 0.20% p.a.

The Business Accelerator Base Rate has increased from 0.15% to 0.20% p.a. with bonus interest not currently payable. 

The Corporate Saver Rate has increased from 0.15% to 0.20% p.a. for non-negotiated accounts. 

The Commercial Call Base Rate has increased from 0.15% to 0.20% p.a. 

The Education Administration Rate has increased from 0.15% to 0.20% p.a.

These changes will be effective on and from 1 March 2022. Interest rates are subject to change. 

ASB announces the following savings interest rate changes - effective 1st March 2022.

ASB is changing the interest rates on the following Savings accounts.
These changes are effective 1st March 2022.

Interest rates are subject to change.

Changes to ASB Business, Rural and Corporate Banking Terms and Conditions - effective on and from 11 March 2022

We've made changes to the ASB Business, Rural and Corporate Banking Terms and Conditions. An Acceptable Use Policy section has been inserted at condition 9. A new condition 10.1 under Section 10 "Suspension of an Account" and sub-condition 11.5 i. under "Closure of an Account" have been added to reflect that ASB may suspend the operation of/Close an Account without prior notice if it is determined that customers fail to comply with the ASB's Acceptable Use Policy as set out in condition 9.1. Condition 18.10 has been updated to outline in what circumstances ASB will consider a request to withdraw a term deposit before maturity date.

Amendments have also been made to:

• Condition 24 "Confidentiality" to update language and clarify more clearly that we will hold and use customer information to comply with our legal obligations; and 
• Condition 25 "Electronic Communication" to include email and text message to the ways we can electronically send you documents, notices and communications (including making disclosures required under the Credit Contracts and Consumer Finance Act 2003).

ASB announces the following Business and Rural interest rate change:

The Business Floating Base Rate has increased from 2.10% to 2.20% p.a.

This change will be effective on and from 18 February 2022. Interest rates are subject to change.

ASB announces the following Business and Rural interest rate change

The Business Floating Base Rate has increased from 1.94% to 2.10% p.a. 

This change will be effective on and from 21 January 2022. Interest rates are subject to change.

ASB announces the following Savings interest rate changes - effective 1 January 2022

ASB is changing the interest rates on the following Savings account. These changes are effective 1 January 2022. 

Interest rates are subject to change.

ASB announces the following savings interest rate changes - effective Wednesday 1st December 2021

ASB is changing the interest rates on the following Savings accounts. These changes are effective Wednesday 1st December 2021.

Interest rates are subject to change.

ASB announces the following Business and Rural interest rate change

The Business Floating Base Rate has increased from 1.75% to 1.94% p.a. 

This change will be effective on and from 19 November 2021. Interest rates are subject to change.

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 22 November 2021.

What are the changes?

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

ASB Securities has historically used Commonwealth Securities Pty Ltd (CommSec) as our agent for all trades on the ASX. However, ASB Securities recently changed its agent for trades on the ASX from CommSec to FinClear Execution Ltd (FinEx). Accordingly, all references to CommSec have been replaced with FinEx references, as well as other ancillary changes related to this change.

The CommSec Terms and Conditions have also been replaced in their entirety by the FinEx Terms of Trade.

The updated ASB Securities Terms and Conditions can be found on our website on and from 22 November 2021. 

Changes to ASB Mobile Banking Terms and Conditions

We've made changes to our Mobile Banking Terms and Conditions. These changes are effective from 17 November 2021:

The clause 1 reference to ‘authentication identifiers’ has been changed to ‘biometric characteristics’. Clauses 5.1, 5.2, 7 and 8.1 have been updated with clearer definitions of biometrics (for example, fingerprint or face identification).

The updated ASB Mobile Banking Terms and Conditions can be found on our website from 17 November 2021.

ASB announces the following Business, Rural and Corporate Interest Rate changes:

Lending

The Corporate Indicator Rate has increased from 2.84% to 3.03% p.a.

The Business Floating Base Rate has increased from 1.64% to 1.75% p.a.

The Rural Base Rate has increased from 5.67% to 5.86% p.a. 

The Special Purpose Base Rate has increased from 1.50% to 1.75% p.a.

Savings

Business Saver Rate has increased from 0.05% to 0.15% p.a.

Business MoneyMaker Rate has increased from 0.05% to 0.15% p.a.

Business Accelerator Base Rate has increased from 0.00% to 0.15% p.a. with bonus interest no longer payable. 

Corporate Saver Rate has increased from 0.00% to 0.15% p.a. for non-negotiated accounts. 

Commercial Call Base Rate has increased to 0.15% p.a.

These changes will be effective on and from 13 October 2021. Interest rates are subject to change.

Education Administration Account rate will increase from 0.05% to 0.15% p.a. effective 1st November. 

ASB announces the following savings interest rate changes - effective Wednesday 13th October 2021

ASB is changing the interest rates on the following Savings accounts. These changes are effective Wednesday 13th October 2021.

Interest rates are subject to change.

ASB announces the following savings interest rate changes - effective Wednesday 13th October 2021

ASB is changing the interest rates on the following Savings accounts. These changes are effective Wednesday 13th October 2021.

Interest rates are subject to change.

ASB announces removal of FastNet Business monthly fees

To further support business, we are removing the monthly FastNet Business fee effective from 31 October 2021. These are the FastNet Business Transactional Banking monthly fee, International module monthly fee and Professional Trust module monthly fee.

All other FastNet Business fees remain unchanged.

Changes to ASB Securities Terms and Conditions

We've made changes to the ASB Securities Terms and Conditions. These changes are effective from Friday 08 October 2021. 

Changes to address the repeal of the Financial Advisers Act 2008 are found in clause 20.3.

Clauses 37.1(e) and 37.1(g) have been amended to provide further examples of circumstances where a customer's trade data might be shared with other CBA Group entities.

The updated ASB Securities Terms and Conditions can be found on our website on and from Friday 08 October 2021.

Changes to ASB Business, Rural and Corporate Banking Terms and Conditions

We've made changes to the ASB Business, Rural and Corporate Banking Terms and Conditions. These changes are effective from 27 August 2021:

Clauses 6.11, 6.36, 6.37, 6.42, 10.7, 16.8, 17.4 and 20.28 have been updated to reflect the fact that ASB will no longer issue or accept cheques. In line with this change Section 14 ‘Cheques’ has also been updated.

Changes to ASB Guide to business banking fees

We've made changes to the ASB Guide to business banking fees. These changes are effective from 27 August 2021:

In line with ASB phasing out cheques, we have removed cheque related fees and service charges from our business banking products. Please note this change does not include Foreign Currency and New Zealand drawn Foreign Exchange cheques.

We are also updating the monthly base fee on our Commercial Credit Facility account as below:

If the average monthly account balance is equal to or between $2999.99 in credit and $2999.99 overdrawn: $5.00 per month

If the average monthly account balance is $3000 in credit or greater, or $3000 overdrawn or greater: $3.00 per month

Change to ASB Visa Debit Card Conditions of Use

Due to the removal of cheques, we have removed reference to cheque clearance verification at ATMs from the ASB Visa Debit Card Conditions of Use (clause 4.23).

This change is effective from Monday 16 August 2021 for new and existing customers. The updated document will be available here.

Changes to ASB Personal Banking Terms and Conditions, Term Deposit Terms and Conditions and Guide to Fees

We've made changes to our Personal Banking Terms and Conditions, Term Deposit Terms and Conditions and Guide to Fees. These changes are effective from the 30 August 2021 and have been made to reflect the fact that ASB no longer processes cheques.

Change to the ASB Visa Platinum Rewards and ASB Visa Gold Travel Insurance policy

Due to the removal of cheques, we have removed reference to cheques from the ASB Visa Platinum Rewards and ASB Visa Gold travel insurance policy. The change is specific to the use of an ASB cheque as a way to pay 50% or more of your overseas travel to meet the activation criteria for your credit card travel insurance policy.

These changes are effective from Monday 16 August 2021 for new and existing customers.

The updated ASB Visa Platinum Rewards travel policy is available here.

The updated ASB Visa Gold travel policy is available here.

We've made some changes to FastNet Classic internet banking

From 28 July 2021, FastNet Classic will have a refreshed look and feel, easier navigation to your everyday tasks and some new features.

ASB is withdrawing all foreign notes services from 2 July 2021

As more customers enjoy the simplicity, convenience and security of ASB Debit and Credit cards when travelling overseas, and with the reduction in international travel due to the COVID-19 pandemic, ASB is withdrawing all foreign notes services from 2 July 2021. This means ASB will no longer buy or sell foreign notes from this date. Find out more.

The applicable Terms and Conditions relating to foreign notes services will be amended as follows, effective from 2 July 2021:

• Foreign Exchange Terms and Conditions: Section 6. Foreign Cash deleted
• Foreign Currency Account and Global Markets Term Deposit Terms and Conditions: Clause 6.9, which references fees related to foreign notes used for a foreign currency term deposit, deleted.

The updated Terms and Conditions will be available here.

Change to ASB Personal Banking Terms and Conditions

We've made changes to our Personal Banking Terms and Conditions. These changes are effective from 23 June 2021:

Clause 21.3 has been updated to reflect the fact that joint accounts, where two people are required to operate, can now make certain approved payments through FastNet Classic internet banking.

ASB announces the following Savings interest rate changes - effective Tuesday 1 June 2021.

ASB is changing the interest rates on the following Savings accounts. These changes are effective Tuesday 1 June 2021.

Interest rates are subject to change.

Changes to Retail Savings account fees

ASB wishes to announce some changes to Retail Savings account fees.

From 01 June 2021, Savings on Call, Savings Plus and FastSaver fees will now be: 
All deposits: Free
Self-service withdrawals: Free
Staff assisted withdrawals: $0.80c

In addition, we’re making some changes to the fees on our Retail Legacy Savings products (Excludes Business and Rural products) including Moneymaker, Accelerater, Flexisave and PrizeSaver accounts.  From 01 June 2021, the new fees will be:
Monthly Base Fee: Free
All deposits: Free
Self-service withdrawals: Free
Staff assisted withdrawals: $0.80c

Changes to ASB Personal Banking Terms and Conditions

We've made changes to our Personal Banking Terms and Conditions. These changes are effective from 28 May 2021:

Clauses 13.1 and 13.2 have been updated to reflect the fact we will no longer issue bank cheques from this date.

Changes to the ASB Merchant Facility Terms and Conditions and the Credit Cards Merchant Services Agreement General Terms and Conditions (ENZ Network).

We've made changes to the ASB Merchant Facility Terms and Conditions and the Credit Cards Merchant Services Agreement General Terms and Conditions (ENZ Network).

These changes are effective from 10 June 2021

The changes include the following:

• The ASB Merchant Facility Terms and Conditions and the Credit Cards Merchant Services Agreement General Terms and Conditions (ENZ Network) have been combined to form the new ASB Merchant Services Terms and Conditions. If you have previously agreed to either of these documents the new ASB Merchant Services Terms and Conditions can be found here.
• The Paymark Merchant Tripartite Agreement Terms and Conditions and the Smartpay Hardware and Services Agreement have been separated from the ASB Merchant Facility Terms and Conditions.
  • If you have previously agreed to the Paymark Merchant Tripartite Agreement Terms and Conditions as part of the ASB Merchant Facility Terms and Conditions then the Paymark Merchant Tripartite Agreement Terms and Conditions can now be found here.
  • If you have previously agreed to the Smartpay Hardware and Services Agreement as part of the ASB Merchant Facility Terms and Conditions then the Smartpay Hardware and Services Agreement can now be found here.

Changes to the ASB Cash Fund and ASB Term Fund Terms and Conditions

We've made changes to the ASB Cash Fund and ASB Term Fund Terms and Conditions.  These changes are effective from 23 April 2021.

The following sections have been updated:

• Section 2 Description of the investment
• Section 5.4 Under or Overpaid tax

ASB announces the following Personal Loan interest rate change - effective 15/03/2021

The ASB Personal Loan interest rate will be changed to 12.90% p.a. on 15/03/2021. This change will apply to all new ASB Personal Loans entered into on and from this date.

Interest rates are subject to change.

Change to ASB Rural Savings Products, effective from 10 May 2021

ASB will be withdrawing the following rural savings products on Monday 10 May 2021:

Rural Moneymaker (legacy product)
Farmsaver (legacy product)
Rural Accelerator (legacy product)
Rural Call
Rural Call Negotiated

All impacted customers will be contacted prior to closure.

Changes to ASB Securities Terms and Conditions

We've made changes to the ASB Securities Terms and Conditions. These changes are effective from 19 March 2021. 

Internet Trading clause 14.3 has been inserted to include additional two-step verification methods.

Changes to address the repeal of the Trustee Act 1956 and ensure compliance with the new Trusts Act 2019, are found in Clauses 10.3 and 42.3.

The updated document is available here.

Change to ASB Guide to Fees, ASB Guide to business banking fees

Effective 31 March 2021 we are removing the Replacement Card Fee for all our card product as below;

ASB is preparing for a cheque-free future from 27 August 2021

With less than 1% of ASB customers' payments being made by cheque, ASB is phasing out cheques as a payment option. Find out more.

Changes to Omni and Streamline Fees

ASB wishes to announce an amendment to previously announced fee changes.From 01 March 2021 Omni fees will now be: 
Self-service transactions: Free
Staff assisted transactions: $0.80c

In addition, we are making some changes to the fees on our Streamline product.  From 01 March 2021 the new fees will be:
Self-service transactions: Free
Staff assisted transactions: $0.80c

Changes to Omni Fees

We are making some changes to our Omni transaction fees effective from 1 March 2021. The new fees are as follows:

Electronic transaction fee: Free
Manual transaction fee: $3.00

Change to ASB Visa Debit Card Conditions of Use, ASB Credit Card Conditions of Use, and ASB Personal Banking Terms and Conditions

A change ASB implemented on 17 November 2020 increasing the maximum daily ATM withdrawal limits has been reverted. The maximum limit has been reverted from $4,000 to $2,000 per card effective on 25 November 2020. For eligible Credit Cards with Dual Account Access enabled, this limit only applies when accessing your transactional and savings accounts.

The updated ASB Visa Debit Card Conditions of Use is available here.

The updated ASB Credit Card Conditions of Use is available here. 

The current ASB Personal Banking Terms and Conditions is available here.

Changes to ASB Rewards Programme Terms

We've updated the True Rewards Conditions of Use by adding the Expiry of True Reward dollars section (clause 4.7) and also amended clause 6.1 with which True Rewards are redeemed first.

This change is effective from 04 November 2020 onwards. The updated document will be available here.

ASB Merchant Services Terms and Conditions

Paymark charges ASB business customers who use their payment network an EFTPOS administration fee. Effective 1 September 2020, Paymark has increased this fee from $14.00 to $18.00 per merchant terminal per month or part month (plus GST). The schedule of merchant charges in the Paymark Tripartite Agreement Terms and Conditions (available on our website and in our ASB Merchant Facility Terms and Conditions) has been updated to reflect this fee change. The updated documents are available here.

Change to ASB Personal Banking Terms and Conditions

We’ve added an Acceptable Use Policy to the ASB Personal Banking Terms and Conditions (clause five in Section B). This change is effective 27 July 2020. The updated document will be available here.

ASB announces the following Savings interest rate change – effective 01/07/2020

ASB is changing the interest rates on the following Savings account. These changes are effective 01/07/2020. Interest rates are subject to change.

Change to ASB Business, Rural and Corporate Banking Terms and Conditions

We've made some changes to the ASB Business, Rural and Corporate Banking Terms and Conditions. These changes are effective 20 May 2020. The updated document will be available here.

Covid-19 Update - True Rewards Expiry Extended

Due to New Zealand being under lockdown, significantly impacting our customers' ability to redeem their True Rewards dollars, we will be extending the True Rewards expiry out - with a new date to be confirmed.

We will be directly communicating the extension with all affected customers who still have True Rewards dollars remaining that would have expired on 31 May 2020.

Changes to True Rewards from 31 May 2020

Effective from 31 May 2020, True Rewards dollars will expire once they reach five years after the date they were earned.

As an example, if you earned 5 True Rewards dollars in April 2015 and have not made any redemptions since, then these 5 True Rewards dollars will expire after May 31 2020 unless redeemed prior.

As customers redeem their True Rewards,  the oldest ones will be used first.

If a customer has more than 5 True Rewards dollars due to expire ASB will communicate with them directly,  providing at least 30 days notice.

Further information can be found at our True Rewards FAQs.

ASB announces the following Savings interest rate changes – 01 04 2020

ASB is changing the interest rates on the following Savings accounts. These changes are effective 01 04 2020.

Interest rates are subject to change.

ASB Securities announces the following interest rate change - effective 3 April 2020

To reduce ASB Margin Lending interest rate from 5.70% to 4.95% p.a. (-75bps)

ASB announces the following US dollar (USD) foreign currency call account interest rate change – 04 March 2020

ASB is changing the interest rate on the top rate tier of USD foreign currency call accounts. These changes are effective 04 March 2020. Interest rates are subject to change.

ASB to stop issuing foreign currency drafts (cheques), effective 31 March 2020

Effective from 31 March 2020, ASB will no longer issue foreign currency drafts (foreign currency cheques). Customers are advised to send foreign currency payments by International Money Transfer (IMT). This is a quicker and more secure means of payment and the recipient will usually have access to funds as soon as their bank credits the payment to their account.

Foreign currency drafts issued to customers up to and including 31 March 2020 will continue to be valid for six months after the date of issue. Terms and conditions relating to foreign draft issuance will be amended accordingly.

ASB will continue to accept foreign currency cheques for deposit to an ASB account. Terms apply.

ASB announces the following US dollar (USD) foreign currency call account interest rate changes - 31 October 2019

ASB is changing the interest rates on the following USD foreign currency call accounts. These changes are effective 31 October 2019.

Interest rates are subject to change.

These changes also apply to USD foreign currency call accounts held with ASB Securities.

ASB Securities announces the following interest rate changes - Effective 27 September 2019

• To reduce ASB Margin Lending interest rate from 5.90% to 5.70% p.a. (-20bps); and
• To reduce ASB Cash Management Account interest rate tiers as follows:

ASB announces the following US dollar (USD) foreign currency call account interest rate changes - 01 August 2019

ASB is changing the interest rates on the following USD foreign currency call accounts. These changes are effective 01 August 2019.

Interest rates are subject to change.

Changes to ASB Privacy Statement

The ASB Privacy Statement will be updated to provide further information and transparency about ASB's privacy practices. This statement provides information in addition to what is provided under ASB's terms and conditions, which govern a customer's relationship with ASB.

This amendment will take effect on 14 August 2019.

Changes to Foreign Exchange Terms and Conditions: Travellers Cheques

Further to our previous notice advising a change in our acceptance of Travellers Cheques, our Foreign Exchange Terms and Conditions have been amended to remove Clause 2.5, effective from 1 July 2019.

Changes to our policy for accepting travellers cheques:

From 1 July 2019, ASB will no longer accept travellers cheques for encashment or deposit to an ASB account. After this date, customers should contact the issuer of the travellers cheques for further advice about how and where to redeem them.

ASB announces the following card fee changes.

Effective 14 February 2019

Overseas cash advance/withdrawal fee for all ASB Credit cards, Debit cards and Fastcash cards:

• Overseas cash advance/withdrawal fee at a Teller or ATM was $7.50, now $0.

Cash advance fee for all ASB Credit cards:

• Cash advance fee for ATM/FastPhone/FastNet Classic – was $2.00, now $0.
• Reduction of the teller assisted cash advance fee - was $5.00, now $3.00.
   

Offshore service margin change for ASB Visa Credit cards and ASB Visa Debit cards:

• Removal of Offshore Service Margin charge for refunded purchases. 

Changes to our True Rewards Card Conditions of Use

We're making some changes to our True Rewards Card Conditions of Use that will take effect from 5 March 2019. You can view the adjusted document here.

ASB Visa Debit purchase limit increase

ASB announces the following change: 

We have increased the daily online purchase limit of our ASB Visa Debit card from $5,000 to $10,000. This change is effective 1 November 2018.

Changes to our ASB Cash Fund and ASB Term Fund terms and conditions

With effect from 27 September 2018, Public Trust will replace Trustees Executors Limited as supervisor for the ASB Cash Fund and ASB Term Fund. As a result, minor consequential changes need to be made to the glossary and sections 3.2 and 9 of the ASB Cash Fund and ASB Term Fund terms and conditions.

The updated terms and conditions can be found here.

 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 Wednesday 8^th August 2018.  

What are the changes?

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 updated clause 2.3 to clarify that for an entity the identity requirements apply to individuals who own more than or equal to 25% of the entity.
  
• We have updated clause 34.2 to require you to provide us written notice should you cease to be resident in New Zealand or Australia, or should any individuals associated with your CMA or ASB Securities trading account cease to reside in New Zealand or Australia. This includes effective controllers, beneficial owners with greater than or equal to 25% ownership and any authorised persons on your trading account. 

CommSec Terms and Conditions

• We have amended clause 14 in Part 3 (Account aggregation) by changing  the terminology relating to accounts where we permit aggregation as follows:
  - client ID changed to access code
  - password changed to access password
• We have amended clause 18 in Part 3 (Your instructions) by adding sub-clause 18.b. so that we are entitled to assume that any instruction received from your individual access code and access password originates from You or the authorised representative to whom the access code and access password is assigned and that such instruction is a valid instruction to access the services. We are not obliged to inquire into the validity of any such instruction received.
  
• We have amended clause 28.b in Part 3 (Failure to settle) to clarify that you authorise us to sell securities in Commonwealth Bank that are subject of a trade that has failed to settle.
  
• We have amended clause 20 in Part 5 (Implementing a Conditional Order Instruction) to clarify that a Conditional Order Instruction is triggered when the Trigger for the Security occurs on the ASX.
  

The updated ASB Securities Terms and Conditions can be found on our website.

Changes to Terms and Conditions for Personal Banking: Job starter's Account and ASB Introduction Package

The Personal Banking Terms and Conditions have been updated to reflect changes made to the Job starter's Account and ASB Introduction Package. We no longer offer interest-free periods on new overdrafts on either of these accounts.

In addition to this, ASB FastDeposit boxes no longer accept cash. You will be able to make your cash deposit at our ATMs and the funds will be available to you immediately. If using an ATM drop-box, the funds will be made available the next day, following our verification processes.

These changes are effective 31 May 2018.

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 Thursday 29th March 2018. 

What are the changes?

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

• We have added a Contents page which outlines what is included in the ASB Securities Terms and Conditions
• We have clarified that your commitments include compliance with the NZX Participant Rules
• We have amended the clause covering bringing orders to market to clarify, that we will not accumulate or bundle orders coming to market
• We have clarified the clause detailing our foreign exchange service, to make it clearer and easier to understand
• We have clarified that it is our Internet Access Terms that govern access passwords used on our website
• We have included an additional acknowledgment that requires customers to acknowledge that their ASB Cash Management Account will be the nominated New Zealand dollar account for any ASB Foreign Currency Account opened for the purpose of share trading with ASB Securities
• We have amended the termination clause, to clarify that ASB Securities may terminate any custody arrangements by giving you 7 days written notice and may close your share trading account if your ASB Cash Management Account is closed, provided that all outstanding obligations have been satisfied
• We have amended some of the definitions, including the "Conditions" and "Participant Rules" definitions, and removed the "Client Services Agreement" definition

The updated ASB Securities Terms and Conditions can be found on our website.

Important changes to ATM fees  

ASB announces the following fee changes: 

Important change to ASB True Rewards

From 1 March 2018, Mobil will no longer be a True Rewards bonus partner offering double True Rewards dollars. Customers will still be able to redeem True Rewards dollars at any Mobil pump in the country, as well as earn standard True Rewards dollars on any purchase with an ASB rewards credit card.

The True Rewards earn rate for each card is as follows:

• Visa Platinum Rewards and Visa Business Rewards - $1TR for every $100 spent
• Visa Gold - $1TR for every $130 spent
• Visa Rewards - $1TR for every $150 spent

Find out more about our rewards credit cards here.

Change to Visa Gold credit card travel insurance provider

ASB announces that from 1 April 2018, ASB Visa Gold credit card travel insurance will no longer be underwritten by Tower Insurance Limited and Cigna Life Insurance New Zealand Limited will be the new underwriter. Terms and conditions apply to travel insurance, please refer to the updated Visa Gold travel insurance policy wording. Exclusions and limitations apply.

These changes are effective from Sunday 1 April 2018 for new and existing customers.

Important changes to ASB Personal Loans.

ASB announces the following personal loan changes:

Effective the 1st November 2017 ASB is introducing the following fee:

Clever Kash replacement fee $50.

Changes to Other Banks' Fees for International Money Transfers

Customers who send International Money Transfers (IMT's) can choose 'sender to pay' to have other banks' service fees deducted from their ASB accounts. In certain cases, despite ASB being notified of pending charges, fees may not have been debited from customer accounts.

From 30 October 2017 customers selecting 'sender to pay' should expect to have other banks' service fees deducted from their ASB accounts.

If you'd like more information, call us on 0800 803 804, visit your local branch or contact your ASB Relationship Manager.

Changes to our Personal Banking Terms and Conditions and Job starter's Account Terms and Conditions

From 21 September 2017, ASB will no longer offer an interest free period for Job starter's Account and Streamline Introduction Package Account overdrafts. This change will apply to new Job starter's Accounts and Streamline Introduction Package Accounts opened after 21 September 2017. To reflect this change, we have amended our Personal Banking Terms and Conditions and Job starter's Account Terms and Conditions by removing references to Job starter's Account and Streamline Introduction Package Account interest free periods.

The new terms and conditions will be available from 21 September 2017.