Notices - 2022

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

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

These changes are effective 23rd of December 2022.

Interest rates are subject to change.

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

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

Important notice for ASB Business, Corporate and Rural customers.

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

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

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

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

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

These changes are effective 14th December 2022.

Interest rates are subject to change.

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

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

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

Changes to ASB Foreign Exchange Terms and Conditions

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

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

Important notice for ASB Business, Corporate and Rural customers.

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

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

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

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

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

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

Changes to ASB Credit Card Conditions of Use

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

Amendments have been made to:

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

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

Important notice for ASB Business, Corporate and Rural customers.

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

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

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

Changes to ASB FastNet Business Terms and Conditions

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

Changes to ASB Merchant Services Terms and Conditions

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

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

Changes to Paymark Merchant Tripartite Agreement Terms and Conditions

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

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

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

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

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

Changes to fees:

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

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

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

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

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

Important notice for ASB Business, Corporate and Rural customers.

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

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

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

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

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

These changes are effective 25th October 2022.

Important notice for ASB Business, Corporate and Rural customers.

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

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

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

Important notice for ASB Business, Corporate and Rural customers

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

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

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

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

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

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

Proposed changes to our True Rewards Programme

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

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

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

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

Interest rates are subject to change.

Changes to ASB True Rewards and AA Smartfuel discount earn rates

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

Earn rate changes as follows:

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

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

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

Interest rates are subject to change.

Important notice for ASB Business, Corporate and Rural customers.

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

Lending:

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

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

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

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

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

Savings:

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

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

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

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

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

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

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

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

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

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

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

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

Changes to ASB Merchant Services Terms and Conditions

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

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

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

Changes to simplify and clarify termination fees:

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

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

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

Changes to clarify the Privacy terms:

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

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

Changes to ASB FastNet Business Terms and Conditions

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

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

Changes to ASB Securities Terms and Conditions

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

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

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

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

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

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

Changes to ASB Personal Banking Terms and Conditions

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

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

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

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

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

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

Amendments have been made to remove:

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

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

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

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

Interest rates are subject to change.
 

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

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

Interest rates are subject to change.

Changes to ASB's Overdraft fees

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

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

The ASB guide to fees can be found here.

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

Lending:

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

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

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

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

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

Savings:

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

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

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

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

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

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

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

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

Interest rates are subject to change.

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

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

Update to CMP Terms and Conditions from 25 July 2022.

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

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

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

ASB announces Personal Loan rate change

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

Changes to FastNet Classic Terms and Conditions

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

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

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

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

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

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

Interest rates are subject to change.

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

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

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

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

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

Interest rates are subject to change.

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

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

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

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

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

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

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

Changes to ASB Personal Banking Terms and Conditions

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

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

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

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

Changes to ASB Credit Card Conditions of Use

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

Amendments have been made to:

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

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

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

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

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

Smart Trade - Changes to our Terms and Conditions

What are the changes?

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

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

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

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

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

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

Lending:

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

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

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

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

Savings:

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

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

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

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

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

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

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

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

Interest rates are subject to change.

ASB announces the following Business and Rural interest rate change:

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

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

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

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

Interest rates are subject to change.

ASB announces changes to cash handling fees

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

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

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

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

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

Transaction accounts

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

Electronic self-service transactions

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

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

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

Manual staff-assisted transactions

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

Savings accounts

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

Electronic self-service transactions

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

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

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

Manual staff-assisted transactions

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

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

Changes to ASB Rewards Programme Terms

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

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

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

Credit card late payment fee changes.

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

The ASB Guide to fees is available here.

The ASB Guide to business banking fees is available here.

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

Lending:

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

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

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

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

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

Savings:

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

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

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

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

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

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

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

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

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

Interest rates are subject to change.

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

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

Amendments have also been made to:

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

ASB announces the following Business and Rural interest rate change:

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

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

ASB announces the following Business and Rural interest rate change

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

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

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

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

Interest rates are subject to change.