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:
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:
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:
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.
Savings Plus*
|
|
---|---|
Reward Interest if you make no withdrawals |
2.45% |
Combined base and full reward interest |
5.00% |
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.
FastSaver
|
Interest rate
|
---|---|
All credit balances |
2.25% |
Savings On-Call
|
Interest rate
|
---|---|
$0 - $9,999 |
2.90% |
$10,000 - $24,999 |
2.90% |
$25,000 - $49,999 |
2.90% |
$50,000 - $99,999 |
2.90% |
$100,000+ |
2.90% |
Flexisave
|
Interest rate
|
---|---|
$0-999 |
2.25% |
$1,000+ |
2.25% |
ASB Cash Fund
|
Interest rate
|
---|---|
$0 - $9,999 |
2.90% |
$10,000 - $24,999 |
2.90% |
$25,000 - $49,999 |
2.90% |
$50,000 - $99,999 |
2.90% |
$100,000 - $19,999,999 |
2.90% |
$20,000,000+ |
2.90% |
Moneymaker
|
Interest rate
|
---|---|
$0-999 |
2.25% |
$1,000+ |
2.25% |
Accelerater
|
Interest rate
|
---|---|
$0-999 |
2.25% |
$1,000+ |
2.25% |
$5,000+ |
2.25% |
Prizesaver
|
Interest rate
|
---|---|
All credit balances |
2.25% |
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:
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).
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.
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.
FastSaver
|
Interest rate
|
---|---|
All credit balances |
2.10% |
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% |
Savings Plus*
|
Interest rate
|
---|---|
Base Interest |
2.55% |
Reward Interest if you make no withdrawals |
2.10% |
Reward Interest if you make one withdrawal |
0.10% |
Combined base and full reward interest |
4.65% |
Combined base and partial reward interest |
2.65% |
Flexisave
|
Interest rate
|
---|---|
$0-999 |
2.10% |
$1,000+ |
2.10% |
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 |
2.10% |
$1,000+ |
2.10% |
Accelerater
|
Interest rate
|
---|---|
$0-999 |
2.10% |
$1,000+ |
2.10% |
$5,000+ |
2.10% |
Bonus Interest on all tiers |
0.00% |
Prizesaver
|
Interest rate
|
---|---|
All credit balances |
2.10% |
Headstart
|
Interest rate
|
---|---|
All credit balances |
4.65% |
Retail Call - Carded Rates
|
|
---|---|
Tier |
Interest rate
|
$0 - $4,999 |
0.00% |
$5,000 - $19,999 |
0.00% |
$20,000 - $99,999 |
2.10% |
$100,000 - $249,999 |
2.10% |
$250,000 - $499,999 |
2.10% |
$500,000+ |
2.10% |
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.
Savings Plus*
|
Interest rate
|
---|---|
Base Interest |
2.05%
|
Reward Interest if you make no withdrawals |
2.10%
|
Combined base and full reward interest |
4.15%
|
Combined base and partial reward interest |
2.15%
|
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.
Savings On-Call
|
Interest rate
|
---|---|
$0 - $9,999 |
2.25%
|
$10,000 - $24,999 |
2.25%
|
$25,000 - $49,999 |
2.25%
|
$50,000 - $99,999 |
2.25%
|
$100,000+ |
2.25%
|
Flexisave
|
Interest rate
|
---|---|
$0-999 |
1.80%
|
$1,000+ |
1.80%
|
ASB Cash Fund
|
Interest rate
|
---|---|
$0 - $9,999 |
2.25%
|
$10,000 - $24,999 |
2.25%
|
$25,000 - $49,999 |
2.25%
|
$50,000 - $99,999 |
2.25%
|
$100,000 -$19,999,999 |
2.25%
|
$20,000,000+ |
2.25%
|
Moneymaker
|
Interest rate
|
---|---|
$0-999 |
1.80%
|
$1,000+ |
1.80%
|
Accelerater
|
Interest rate
|
---|---|
$0-999 |
1.80%
|
$1,000+ |
1.80%
|
$5,000+ |
1.80%
|
Bonus Interest on all tiers |
0.00%
|
Headstart
|
Interest rate
|
---|---|
All credit balances |
4.15%
|
Retail Call - Carded Rates
|
|
---|---|
Tier |
Interest rate
|
$20,000 - $99,999 |
1.80%
|
$100,000 - $249,999 |
1.80%
|
$250,000 - $499,999 |
1.80%
|
$500,000+ |
1.80%
|
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:
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.
Savings Plus*
|
Interest rate
|
---|---|
Base Interest |
1.55%
|
Combined base and full reward interest |
3.55%
|
Combined base and partial reward interest |
1.65%
|
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.
FastSaver
|
Interest rate
|
---|---|
All credit balances |
1.80% |
Savings On-Call
|
Interest rate
|
---|---|
$0 - $9,999 |
2.05%
|
$10,000 - $24,999 |
2.05%
|
$25,000 - $49,999 |
2.05%
|
$50,000 - $99,999 |
2.05%
|
$100,000+ |
2.05%
|
Flexisave
|
Interest rate
|
---|---|
$0-999 |
1.45%
|
$1,000+ |
1.45%
|
ASB Cash Fund
|
Interest rate
|
---|---|
$0 - $9,999 |
2.05%
|
$10,000 - $24,999 |
2.05%
|
$25,000 - $49,999 |
2.05%
|
$50,000 - $99,999 |
2.05%
|
$100,000 - $19,999,999 |
2.05%
|
$20,000,000+ |
2.05%
|
Moneymaker
|
Interest rate
|
---|---|
$0-999 |
1.45%
|
$1,000+ |
1.45%
|
Accelerater
|
Interest rate
|
---|---|
$0-999 |
1.45%
|
$1,000+ |
1.45%
|
Headstart
|
Interest rate
|
---|---|
All credit balances |
3.55%
|
Retail Call - Carded Rates
Tier
|
Interest rate
|
---|---|
$20,000 - $99,999 |
1.45%
|
$100,000 - $249,999 |
1.45%
|
$250,000 - $499,999 |
1.45%
|
$500,000+ |
1.45%
|
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:
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:
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
Balance Band
|
Current (p.a)
|
Rate movement (p.a)
|
New (p.a)
|
---|---|---|---|
$0 - $49,999.99 |
0.00%
|
Unchanged
|
0.00%
|
$50,000+ |
0.00%
|
+1.00%
|
1.00%
|
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:
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”:
Changes to when the agreement may be terminated and the effects of termination on renewal:
Changes to fees:
Changes granting the Merchant’s consent to Worldline processing certain information that contains the Merchant’s intellectual property rights:
Other changes to limit or clarify some of our rights, or expand some of the Merchant’s rights:
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.
FastSaver
|
Interest rate
|
---|---|
All credit balances |
1.05%
|
Savings On-Call
|
Interest rate
|
---|---|
$0 - $9,999 |
1.30%
|
$10,000 - $24,999 |
1.30%
|
$25,000 - $49,999 |
1.30%
|
$50,000 - $99,999 |
1.30%
|
$100,000+ |
1.30%
|
Savings Plus*
|
Interest rate
|
---|---|
Base Interest |
0.80%
|
Reward Interest if you make no withdrawals |
2.00%
|
Combined base and full reward interest |
2.80%
|
Combined base and partial reward interest |
0.90%
|
Flexisave
|
Interest rate
|
---|---|
$0-999 |
0.70%
|
$1,000+ |
0.70%
|
ASB Cash Fund
|
Interest rate
|
---|---|
$0 - $9,999 |
1.30%
|
$10,000 - $24,999 |
1.30%
|
$25,000 - $49,999 |
1.30%
|
$50,000 - $99,999 |
1.30%
|
$100,000 -$19,999,999 |
1.30%
|
$20,000,000+ |
1.30%
|
Moneymaker
|
Interest rate
|
---|---|
$0-999 |
0.70%
|
$1,000+ |
0.70%
|
Accelerater
|
Interest rate
|
---|---|
$0-999 |
0.70%
|
$1,000+ |
0.70%
|
Headstart
|
Interest rate
|
---|---|
All credit balances |
2.80%
|
Retail Call - Carded Rates
Tier |
Interest rate
|
---|---|
$20,000 - $99,999 |
0.80%
|
$100,000 - $249,999 |
0.80%
|
$250,000 - $499,999 |
0.80%
|
$500,000+ |
0.80%
|
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:
Card Type
|
Current earn rate by $ spent:
|
Earn rate from 4 October:
|
---|---|---|
Visa Rewards
|
$150 = TR$1 $75 = AASF 1c per litre discount |
$275 = TR$1 $100 = AASF 1c per litre discount |
Visa Platinum Rewards
|
$100 = TR$1 $50 = AASF 1c per litre discount |
$170 = TR$1 $85 = AASF 1c per litre discount* |
*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.
FastSaver
|
New interest rate (old interest rate)
|
---|---|
All credit balances |
0.65% (0.40%)
|
Savings On-Call
|
New interest rate (old interest rate)
|
---|---|
$0 - $9,999 |
0.80% (0.55%)
|
$10,000 - $24,999 |
0.80% (0.55%)
|
$25,000 - $49,999 |
0.80% (0.55%)
|
$50,000 - $99,999 |
0.80% (0.55%)
|
$100,000+ |
0.80% (0.55%)
|
Savings Plus*
|
New interest rate (old interest rate)
|
---|---|
Base Interest |
0.40% (0.05%)
|
Reward Interest if you make no withdrawals |
1.85% (1.70%)
|
Reward Interest if you make one withdrawal |
0.10%
|
Combined base and full reward interest |
2.25% (1.75%)
|
Combined base and partial reward interest |
0.50% (0.15%)
|
Flexisave
|
New interest rate (old interest rate)
|
---|---|
$0-999 |
0.40% (0.30%)
|
$1,000+ |
0.40% (0.30%)
|
ASB Cash Fund
|
New interest rate (old interest rate)
|
---|---|
$0 - $9,999 |
0.80% (0.55%)
|
$10,000 - $24,999 |
0.80% (0.55%)
|
$25,000 - $49,999 |
0.80% (0.55%)
|
$50,000 - $99,999 |
0.80% (0.55%)
|
$100,000 -$19,999,999 |
0.80% (0.55%)
|
$20,000,000+ |
0.80% (0.55%)
|
Moneymaker
|
New interest rate (old interest rate)
|
---|---|
$0-999 |
0.40% (0.30%)
|
$1,000+ |
0.40% (0.30%)
|
Accelerater
|
New interest rate (old interest rate)
|
---|---|
$0-999 |
0.40% (0.30%)
|
$1,000+ |
0.40% (0.30%)
|
Headstart
|
New interest rate (old interest rate)
|
---|---|
All credit balances |
2.25% (1.75%)
|
Retail Call - Carded Rates
Tier |
New interest rate (old interest rate)
|
---|---|
$0 - $4,999 |
0.00%
|
$5,000 - $19,999 |
0.00%
|
$20,000 - $99,999 |
0.50% (0.40%)
|
$100,000 - $249,999 |
0.50% (0.40%)
|
$250,000 - $499,999 |
0.50% (0.40%)
|
$500,000+ |
0.50% (0.40%)
|
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:
Changes to simplify and clarify termination fees:
Other changes to limit or clarify where we may do certain things, or expand where you can do certain things:
Changes to clarify the Privacy terms:
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:
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:
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:
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.
FastSaver
|
Interest rate
|
---|---|
All credit balances
|
0.40%
|
Savings On-Call
|
Interest rate
|
---|---|
$0 - $9,999
|
0.55%
|
$10,000 - $24,999
|
0.55%
|
$25,000 - $49,999
|
0.55%
|
$50,000 - $99,999
|
0.55%
|
$100,000+
|
0.55%
|
ASB Cash Fund
|
Interest rate
|
---|---|
$0 - $9,999
|
0.55%
|
$10,000 - $24,999
|
0.55%
|
$25,000 - $49,999
|
0.55%
|
$50,000 - $99,999
|
0.55%
|
$100,000 -$19,999,999
|
0.55%
|
$20,000,000+
|
0.55%
|
Moneymaker
|
Interest rate
|
---|---|
$0-999
|
0.30%
|
$1,000+
|
0.30%
|
Flexisave
|
Interest rate
|
---|---|
$0-999
|
0.30%
|
$1,000+
|
0.30%
|
Accelerater
|
Interest rate
|
---|---|
$0-999
|
0.30%
|
$1,000+
|
0.30%
|
Headstart
|
Interest rate
|
---|---|
All credit balances
|
1.75%
|
Retail Call - Carded Rates
|
|
---|---|
Tier
|
Interest rate
|
$20,000 - $99,999
|
0.40%
|
$100,000 - $249,999
|
0.40%
|
$250,000 - $499,999
|
0.40%
|
$500,000+
|
0.40%
|
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.
Savings Plus
|
Interest rate (p.a)
|
---|---|
Reward Interest if you make no withdrawals
|
1.70%
|
Combined base and full reward interest
|
1.75%
|
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.
Savings Plus
|
Interest rate (p.a)
|
---|---|
Reward Interest if you make no withdrawals
|
1.20%
|
Combined base and full reward interest
|
1.25%
|
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.
Headstart
|
Interest rate (p.a)
|
---|---|
All credit balances
|
1.25%
|
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:
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:
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.
Headstart
|
Interest rate (p.a)
|
---|---|
All credit balances
|
1.05%
|
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.
Savings Plus
|
Interest rate (p.a)
|
---|---|
Reward Interest if you make no withdrawals
|
1.00%
|
Reward Interest if you make one withdrawal
|
0.10%
|
Combined base and full reward interest
|
1.05%
|
Combined base and partial reward interest
|
0.15%
|
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.
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.
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.
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.
FastSaver
|
Interest rate
|
---|---|
All credit balances
|
0.20%
|
Savings On-Call
|
Interest rate
|
---|---|
$0 - $9,999
|
0.30%
|
$10,000 - $24,999
|
0.30%
|
$25,000 - $49,999
|
0.30%
|
$50,000 - $99,999
|
0.30%
|
$100,000+
|
0.30%
|
Flexisave
|
Interest rate
|
---|---|
$0-999
|
0.20%
|
$1,000+
|
0.20%
|
ASB Cash Fund
|
Interest rate
|
---|---|
$0 - $9,999
|
0.30%
|
$10,000 - $24,999
|
0.30%
|
$25,000 - $49,999
|
0.30%
|
$50,000 - $99,999
|
0.30%
|
$100,000 - $19,999,999
|
0.30%
|
$20,000,000 +
|
0.30%
|
Moneymaker
|
Interest rate
|
---|---|
$0-999
|
0.20%
|
$1,000+
|
0.20%
|
Accelerator
|
Interest rate
|
---|---|
$0-999
|
0.20%
|
$1,000+
|
0.20%
|
Bonus Interest on all tiers
|
0.00%
|
Prizesaver
|
Interest rate
|
---|---|
All credit balances
|
0.20%
|
Headstart
|
Interest rate
|
---|---|
All credit balances
|
0.75%
|
Retail Call - Carded Rates
|
Interest rate
|
---|---|
$0 - $4,999
|
0.00%
|
$5,000 - $19,999
|
0.00%
|
$20,000 - $99,999
|
0.30%
|
$100,000 - $249,999
|
0.30%
|
$250,000 - $499,999
|
0.30%
|
$500,000 +
|
0.30%
|
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:
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.
Savings Plus
|
Interest rate (p.a)
|
---|---|
Reward Interest if you make no withdrawals
|
0.60%
|
Combined base and full reward interest
|
0.65%
|
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.
FastSaver
|
Interest Rate
|
---|---|
All credit balances
|
0.15%
|
Savings On-Call
|
Interest Rate
|
---|---|
$0 - $9,999
|
0.25%
|
$10,000 - $24,999
|
0.25%
|
$25,000 - $49,999
|
0.25%
|
$50,000 - $99,999
|
0.25%
|
$100,000+
|
0.25%
|
Flexisave
|
Interest Rate
|
---|---|
$0-999
|
0.15%
|
$1,000+
|
0.15%
|
ASB Cash Fund
|
Interest Rate
|
---|---|
$0 - $9,999
|
0.25%
|
$10,000 - $24,999
|
0.25%
|
$25,000 - $49,999
|
0.25%
|
$50,000 - $99,999
|
0.25%
|
$100,000 - $19,999,999
|
0.25%
|
$20,000,000 +
|
0.25%
|
Headstart
|
Interest Rate
|
---|---|
All credit balances
|
0.65%
|
Prizesaver
|
Interest Rate
|
---|---|
All credit balances
|
0.15%
|
Moneymaker
|
Interest Rate
|
---|---|
$0-999
|
0.15%
|
$1,000+
|
0.15%
|
Accelerator
|
Interest Rate
|
---|---|
$0-999
|
0.15%
|
$1,000+
|
0.15%
|
These changes are effective on and from 1 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:
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.
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.
FastSaver
|
Interest Rate
|
---|---|
All credit balances
|
0.10%
|
Savings On-Call
|
Interest Rate
|
---|---|
$0 - $9,999
|
0.15%
|
$10,000 - $24,999
|
0.15%
|
$25,000 - $49,999
|
0.15%
|
$50,000 - $99,999
|
0.15%
|
$100,000+
|
0.15%
|
Savings Plus
|
Interest Rate
|
---|---|
Base Interest
|
0.05%
|
Reward Interest if you make no withdrawals
|
0.35%
|
Reward Interest if you make one withdrawal
|
0.05%
|
Combined base and full reward interest
|
0.40%
|
Combined base and partial reward interest
|
0.10%
|
Flexisave
|
Interest Rate
|
---|---|
$0-999
|
0.10%
|
$1,000+
|
0.10%
|
ASB Cash Fund
|
Interest Rate
|
---|---|
$0 - $9,999
|
0.15%
|
$10,000 - $24,999
|
0.15%
|
$25,000 - $49,999
|
0.15%
|
$50,000 - $99,999
|
0.15%
|
$100,000 - $19,999,999
|
0.15%
|
$20,000,000 +
|
0.15%
|
Headstart
|
Interest Rate
|
---|---|
All credit balances
|
0.40%
|
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.
FastSaver
|
Interest Rate
|
---|---|
All credit balances
|
0.10%
|
Savings On-Call
|
Interest Rate
|
---|---|
$0 - $9,999
|
0.15%
|
$10,000 - $24,999
|
0.15%
|
$25,000 - $49,999
|
0.15%
|
$50,000 - $99,999
|
0.15%
|
$100,000+
|
0.15%
|
Savings Plus
|
Interest Rate
|
---|---|
Base Interest
|
0.05%
|
Reward Interest if you make no withdrawals
|
0.35%
|
Reward Interest if you make one withdrawal
|
0.05%
|
Combined base and full reward interest
|
0.40%
|
Combined base and partial reward interest
|
0.10%
|
Flexisave
|
Interest Rate
|
---|---|
$0-999
|
0.10%
|
$1,000+
|
0.10%
|
ASB Cash Fund
|
Interest Rate
|
---|---|
$0 - $9,999
|
0.15%
|
$10,000 - $24,999
|
0.15%
|
$25,000 - $49,999
|
0.15%
|
$50,000 - $99,999
|
0.15%
|
$100,000 - $19,999,999
|
0.15%
|
$20,000,000 +
|
0.15%
|
Headstart
|
Interest Rate
|
---|---|
All credit balances
|
0.40%
|
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.
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:
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.
Flexisave
|
Interest rate (p.a)
|
$0 - $999
|
0.05%
|
Accelerator
|
Interest rate (p.a)
|
$0 - $999
|
0.05%
|
$1000+
|
0.05%
|
Bonus Interest on all tiers
|
0.00%
|
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:
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:
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;
Card Type
|
Current Fee
|
New fee (effective 31/03/2021)
|
---|---|---|
FastCash/Cashflow
|
$5
|
$0
|
Visa Debit Cards
|
$10
|
$0
|
Visa Credit Cards
|
$10
|
$0
|
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
We have made a change the ASB Personal Banking Terms and conditions (Clause 14, Section C). This change will not allow ASB insurance payments to be made if your account is suspended. This change is effective 1 March 2021. The updated document will be available here.
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.
Savings Plus | Interest rate (p.a) |
|
Reward interest if you make no withdrawals | 0.45% p.a. | |
Combined Base and full reward interest | 0.50% p.a. |
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.
Savings Plus | Interest Rate (p.a.) |
Base Interest | 0.05% |
Reward Interest if you make no withdrawals | 0.70% |
Reward Interest if you make one withdrawal | 0.05% |
Combined base and full reward interest | 0.75% |
Combined base and partial reward interest | 0.10% |
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.
USD Call Account | Interest rate (p.a.) | ||
USD0 - USD99,999 | 0.00% (unchanged) | ||
USD100,000 - USD199,999 | 0.00% (unchanged) | ||
USD200,000+ | 0.00% |
This change also applies to USD foreign currency call accounts held with ASB Securities.
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.
USD Call Account | Interest rate (p.a.) | |
USD0 - USD99,999 | 0.00% (unchanged) | |
USD100,000 - USD199,999 | 0.00% | |
USD200,000+ | 0.25% |
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
Balance Band | Current (p.a) | Rate movement (p.a) | New (p.a) | |
$0-$499,999 | 0.00% | Unchanged | 0.00% | |
$500,000+ | 0.25% | -0.25% | 0.00% |
ASB PrizeSaver - changes to the terms and conditions and monthly prize draw pool
We've made some changes to the ASB PrizeSaver terms and conditions and the total monthly prize draw winnings.
Effective 1 October 2019, the winning prize pool will have 10 winners of $1,000 every calendar month moving forward.
We have updated clause 6 of the PrizeSaver terms and conditions effective 1 October 2019 to reflect the above changes.
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.
USD Call Account | Interest rate (p.a.) | |
USD0 - USD99,999 | 0.00% (unchanged) | |
USD100,000 - USD199,999 | 0.25% | |
USD200,000+ | 0.50% |
These changes also apply to USD foreign currency call accounts held with ASB Securities.
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:
Cash advance fee for all ASB Credit cards:
Offshore service margin change for ASB Visa Credit cards and ASB Visa Debit cards:
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 8th 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
CommSec Terms and Conditions
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.
The updated ASB Securities Terms and Conditions can be found on our website.
Important changes to ATM fees
ASB announces the following fee changes:
Fee
|
Previous Fee
|
New Fee
|
---|---|---|
Other NZ bank ATM usage fee |
$1.00 |
$0.00 |
ASB credit card cash advance fee (other NZ bank ATM) |
$3.00 |
2.00 |
This change is effective from 27 March 2018 and affects ASB Visa/MasterCard credit cards, ASB Business credit cards, Visa Debit and FastCash cards.
This change was originally stated as being effective from 31 March 2018 but has been changed to 27 March 2018.
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:
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:
Fee
|
Previous fee
|
New fee
|
---|---|---|
Loan processing fee |
$250 |
$99 |
This change is effective from Friday 1 December 2017. The new fee will be available on asb.co.nz from Friday 1 December 2017. Fees are subject to change.
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.
Direct debit processing times have changed
On 28 November 2016 ASB introduced changes to the way that payments are made. One of these changes included processing direct debits earlier in the day rather than after midnight.
We are aware that some customers will have timed deposits to be in their account in the evening before a direct debit is processed, however with the earlier processing of direct debits these may occur before the deposit is in the account. This could result in the direct debit being dishonoured, resulting in unpaid bills and bank fees.
Some ways to avoid this from happening might be to:
If you have been affected by this change please contact us and we will work with you to avoid this occurring in the future. If you have been charged any dishonour fees as a result of the change we may also be able to refund these for you.
Upcoming change to payments
A new industry standard, effective 28 November 2016, will increase the certainty of payments by removing the ability for any electronic payment to be dishonoured due to insufficient funds. An electronic payment is a type of transaction commonly referred to as automatic payments, bill payments and direct credits.
This improvement will mean ASB customers can be confident that they will have full access to electronic payments deposited in to their account from other banks as soon as the payment is received.
Previously most electronic payments were received by ASB from other New Zealand banks as un-cleared funds. This meant that the sending bank could dishonour the payment within 3 business days if the sender did not have sufficient funds.
From 28 November ASB customers will only receive electronic payments in to their account if the sender has sufficient funds to make the payment. The payment will be immediately cleared and available.
Cheques and direct debits can still be dishonoured by the paying bank due to insufficient funds and cheques will continue to take 4 business days to clear.
This change does not affect the way payments are paid from ASB accounts with the exception of direct debits. Please note from the 28 November 2016 ASB will be processing direct debits received from both ASB and other banks earlier during the day instead of at the end of the day. Customers should ensure their accounts have adequate funds to cover any expected debits and be aware the debit may be applied earlier on the scheduled day for payment than it has previously.
We encourage customers to only make and schedule payments using available funds to avoid unexpected fees and interest.
Before confirming any payment, we encourage all customers to always check the payment details. In the event of a mistake, for example paying the wrong account or duplicating a payment, we may still be able to help if we’re immediately contacted. Find out more about this process here.
For our business customers who initiate direct debits, they’ll now be able to approve and submit direct debit files for same day processing until 11pm. This is a change from the current cut-off time of 6pm. Any transactions submitted after 11pm will be held over and processed the next business day soon after 6pm.
If you'd like more information, call us on 0800 803 804, visit your local branch or contact your ASB Relationship Manager.