ASB announces the following changes to ASB Personal Banking Terms and Conditions.
We've made changes to our personal banking terms and conditions, these are to outline more information on our privacy statement and where to find it. This includes electronic communications relating to fraud and scams as well as arranged overdrafts.
ASB announces the following Savings Plus interest rate changes - effective 1st October 2024.
ASB is changing the interest rates on the following Savings account. These changes are effective 1st October 2024.
Interest rates are subject to change.
Savings Plus
|
Interest rate
|
---|---|
Base Interest |
2.30% |
Reward Interest if you make no withdrawals |
2.45% |
Reward Interest if you make one withdrawal |
0.10% |
Combined base and full reward interest |
4.75% |
Combined base and partial reward interest |
2.40% |
ASB Securities announces the following interest rate change - effective 18 September 2024
The ASB Margin Lending interest rate has decreased from 9.35% p.a. to 9.10% p.a. (-25bps)
Changes to ASB Cash Fund and ASB Term Fund Terms and Conditions
We've made a change to the ASB Cash Fund and ASB Term Fund Terms and Conditions.
The following change is effective 17th September 2024.
We've updated details relating to grace periods on Term Funds.
ASB announces the following Home Lending interest rate changes – effective 22 August 2024.
The Housing Variable Rate has decreased from 8.64% p.a. to 8.39% p.a.
The Orbit Home Loan and Orbit FastTrack Home Loan Rates have decreased from 8.74% p.a. to 8.49 % p.a.
The HomePlus Interest Rate has decreased from 10.14% p.a. to 9.89% p.a.
The ASB Back My Build Variable Rate has decreased from 6.19% p.a. to 5.94% p.a.
This change will be effective on and from 22 August 2024 for new home lending customers and on and from 29 August 2024 for existing home loans.
The Retail Call (Carded) Rates have decreased from 2.25% p.a. to 2.00% p.a.
This change will be effective on and from 29 August 2024.
Interest rates are subject to change. ASB Bank Limited.
ASB announces the following Savings interest rate changes - effective 29th August 2024.
ASB is changing the interest rates on the following Savings accounts. These changes are effective 29th August 2024.
Interest rates are subject to change.
FastSaver
|
Interest rate
|
---|---|
All credit balances |
2.00% |
Savings On-Call
|
Interest rate
|
---|---|
$0 - $9,999 |
2.65% |
$10,000 - $24,999 |
2.65% |
$25,000 - $49,999 |
2.65% |
$50,000 - $99,999 |
2.65% |
$100,000 |
2.65% |
Flexisave
|
Interest rate
|
---|---|
$0 - $999 |
2.00% |
$1,000+ |
2.00% |
ASB Cash Fund
|
Interest rate
|
---|---|
$0 - $9,999 |
2.65% |
$10,000 - $24,999 |
2.65% |
$25,000 - $49,999 |
2.65% |
$50,000 - $99,999 |
2.65% |
$100,000 - $19,999,999 |
2.65% |
$20,000,000+ |
2.65% |
Moneymaker
|
Interest rate
|
---|---|
$0 - $999 |
2.00% |
$1,000+ |
2.00% |
Accelerater
|
Interest rate
|
---|---|
$0 - $999 |
2.00% |
$1,000+ |
2.00% |
$5,000+ |
2.00% |
Bonus Interest on all tiers |
0.00% |
PrizeSaver
|
Interest rate
|
---|---|
All credit balances |
2.00% |
Headstart
|
Interest rate
|
---|---|
All credit balances |
4.75% |
Important notice for ASB Business, Corporate and Rural customers
ASB announces the following Business, Rural and Corporate interest rate changes:
Lending:
These changes will be effective on and from Thursday 29 August 2024. Interest rates are subject to change.
Savings:
These changes will be effective on and from Thursday 29 August 2024. Interest rates are subject to change.
Other Savings:
This change will be effective on and from Sunday 1 September 2024. Interest rates are subject to change.
Changes to ASB Term Deposits Terms and Conditions
We've made a change to the Term Deposits Terms and Conditions. The following change is effective 23rd August 2024.
We've updated details relating to grace periods on Term Deposits.
ASB announces changes to the Business, Rural and Corporate Banking Terms and Conditions
The following changes have been made to the Business, Rural and Corporate Banking Terms and Conditions and take effect from 21 August 2024.
In relation to information that ASB requires to comply with its legal and regulatory obligations, we have:
In addition and in relation to Electronic Payments or Transfers and Term Deposits, we have:
Changes to the Personal Banking Terms and Conditions
The following changes have been made to the Personal Banking Terms and Conditions in relation to information that ASB requires to comply with its legal and regulatory obligations. Changes are effective from 09 August 2024.
We have:
ASB announces changes to the Foreign Exchange Terms and Conditions effective from 01 July 2024.
ASB has made the following changes to the Foreign Exchange Terms and Conditions effective from 01 July 2024.
We have:
ASB announces the following changes to the Guide to Fees and Guide to Business Banking Fees - effective 1 July 2024.
From 1 July 2024, ASB will no longer accept foreign currency cheques. The Guide to Fees and Guide to Business Banking Fees will be updated to remove references to fees for foreign currency cheques.
The asb.co.nz website will reflect these changes from Monday, 1 July 2024. The updated Guide to Fees will be available here and Guide to Business Banking Fees will be available here.
ASB announces changes to the NZHL-arranged Home Loan Fees and Limits guide and the Go Home Loan Fees and Limits guide - effective May 2024.
Following the recent removal of some service fees we are updating the NZHL-arranged Home Loan Fees and Limits Guide and the Go Home Loan fees and Limits guide.
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 10 June 2024.
What are the changes?
An overview of the key changes to the ASB Securities Terms and Conditions is detailed below.
Through ASB Securities, customers may have a facility set up to trade on the Australian Securities Exchanges (ASX) and these trades are executed on customers' behalf by FinClear Execution Ltd (FinClear Execution). FinClear Execution currently use FinClear Pty Ltd (FinClear) to clear and settle ASX trades. From 10 June 2024 FinClear Execution will use FinClear Services Pty Ltd (FinClear Services) instead of FinClear to clear and settle NZX trades.
The ASB Securities Terms and Conditions will be updated as follows:
All changes will be effective from 10 June 2024. The updated ASB Securities Terms and Conditions will be available on asb.co.nz from that date.
Changes to ASB Mobile Banking Terms and Conditions
We've made changes to our Mobile Banking Terms and Conditions to include ASB's Open Banking Services. These changes are effective from 24 May 2024:
ASB's Open Banking Services:
Other changes:
More information:
Open Banking is an industry initiative that allows you to securely make payments and share account information with approved third-party service providers. Find out more about Open Banking.
The updated ASB Mobile Banking Terms and Conditions can be found on our website from 24 May 2024.
Changes to ASB's Rural Term Deposit
Effective from 29 April 2024, the Rural Term Deposit will be renamed to the Business Term Deposit.
ASB announces the following change of interest rate type that is charged on Dishonoured Payments for all ASB Visa Credit Cards - effective 3 April 2024.
ASB is changing the interest rate type that is charged for Dishonoured Payments for all ASB Visa credit cards, from the Cash Advance interest rate (currently 22.95% p.a.), to the card's standard Purchase Interest rate. This change is effective from 3 April 2024.
Interest rates are subject to change.
Account Type Changes
ASB will be closing several legacy accounts, including the Business Focus, Rural Account, Commercial Call, Commercial Call Negotiated, Corporate Saver, Retail Call, Retail Call Negotiated, Call Rate Cheque, Statement Flexisave, Flexisave, Omni, Personal Omni, Personal Omni no interest and the Unlimited Account. Customers on these account types will be migrated onto one of our current account types, commencing March 2024. The terms and conditions, interest rates and fees relating to the customer's new account type will apply. Refer to ASB Bank Limited's Terms and Conditions, Guide to Fees and Guide to Business Banking Fees for details.
Changes to ASB's Commercial Credit Facility
Effective from 16 March 2024, the Commercial Credit Facility will be renamed to the Business Credit Facility.
Changes to ASB Personal Banking Terms and Conditions
We've made a change to the Personal Banking Terms and Conditions. The following change is effective 8th February 2024
Reversal of payments into your account:
We've included the new clause 7.3 which outlines what may occur in the event that you have insufficient funds in your account and we need to take money from your account or reverse a payment in accordance with exisiting clauses 7.1 or 7.2.
Changes to True Rewards Card Conditions of Use and True Rewards balance update from daily to monthly.
We've updated our True Rewards Card Conditions of Use which are effective from 1 February 2024. The changes address ASB's partnership with Woolworths' Everyday Rewards Programme as an alternative rewards programme to ASB True Rewards. You can find the updated True Rewards Card Conditions of Use here. Additionally, this address True Rewards changes, where balances will be updated monthly instead of daily. The True Rewards balances will update two days after the credit card period.