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COVID-19
Business Banking FAQs

Apply for support

How do I apply for ASB COVID-19 support?

If you're a business customer registered with FastNet Business or FastNet Classic, you can apply for ASB support online.

If you're not registered for FastNet Business or FastNet Classic, you'll need to get in touch with your relationship manager.

What information will I need to provide to prove that I’m eligible for support packages?

This will depend on your individual circumstances; however we are making this as easy as possible for our customers.

When will I receive my support?

Depending on the need we can action the package benefits the same day or within a couple of days.

If I have my personal banking and business banking with ASB, can I access both the business and personal support packages?

If you have been impacted by COVID-19 and would like to discuss financial support options, please contact us.

If you’re a SME customer, our team are available on 0800 272 222 (or +64 9 306 3000 if calling from overseas), Monday to Friday from 8am - 5pm. If you’re a Commercial or Rural Banking customer, please contact your relationship manager.

If my business loan is secured by my home loan, do I still qualify for the personal support options for home loans?

Yes, absolutely. You can apply for any of the home loan personal support options in FastNet Classic or the ASB Mobile Banking app. 

Business support package queries

What will happen when my 180-day temporary overdraft facility ends?

If the overdraft isn’t paid back by the end of the 180 days, the unarranged interest rate of 22.5% p.a. will apply. However your relationship manager will work with you on what is appropriate for your circumstances.

What happens if I need to extend any of the options you have available further than six months?

Please keep in contact with your relationship manager so we can work with you on what is appropriate for your circumstances.

If I'm on an interest only loan term now can I still apply for a mortgage payment deferral?

Yes, all options to assist will be considered.

Can I break my fixed rates and will ASB waive the ERA?

No. Our current policy on ERA applies. 

Access and security

When my employees work from home, will they be able to access FastNet Business?

With many businesses having staff working away from their usual location it is important to ensure they retain the capability to transact online where needed.

We recommend that both you and your team check your access to FastNet Business from home.

Before you begin, your FastNet Business administrator should check you have the right permissions, access and limits. This is also a good time to review if you need to add or remove users. Check this via Administration > User Profiles.

If you are set up with IP Address Verified so you can only access FastNet Business from trusted locations, your administrator can set your profile to 'Out of Office'. When Out of Office is set for a user, they will need to enter the number displayed on their Netcode token when they sign on. Set this via Administration > User Profiles > User ID.

Remember to take your Netcode token home with you each day.

When you check your access from home, you should test different scenarios your business could face and work out if your users have what they need to get through. For example, accessing your finance systems and processing a payment using FastNet Business.

We also recommend payment authorisers download the FastNet Business app - ASB Mobile Business. This will allow for easy authorisation of your payments using an iPhone or Android smartphone from anywhere.

If you need to make changes to FastNet Business, you can find the forms online.

You can find more help online for FastNet Business. For further assistance, the FastNet Business Helpdesk is available Monday to Friday between 8am and 8pm NZT on 0800 225 527. If calling from outside of New Zealand please call +64 9 623 8763.

One of our key FastNet Business users is unavailable, what can we do?

If a key FastNet Business user is unavailable to do an important payment or request, you will need your FastNet Business Administrator to add a new user(s) or change existing permissions.

In order to do this, your FastNet Business Administrator may need to reassign an existing token(s) from a non-key user or issue a new token to the new key user.

To re-assign a token or to issue a new token please use the Change Request Form.

Please avoid issuing tokens to non-key users.

We need to increase our FastNet Business daily limits. How do we do this?

Your FastNet Business administrator will be able to change your FastNet Business user limits up to their own limit online via User Profiles, or increase a user or account limit permanently using the Change Request Form.

However, should you have urgent payments to process you have a couple of options:

  • Find another authoriser to send if you have exceeded your user limit
  • Split the payment(s) over a few days or to a future date with sufficient limits
  • Exclude non-urgent payees
  • Send a signed payment release request to the FastNet Business Help Desk before 8pm

Due to reduced helpdesk hours, we recommend processing payments earlier in the day in the event limits need to be increased or payments released.

If your payment requires two authorisations, please refrain from using FastCheque payment option as it requires on the spot authorisation.

Should you have any trouble processing payroll or any other essential payments, please contact the FastNet Business Help Desk or your Relationship Manager to help find a solution that suits.

I received an ASB email about COVID-19 which could be phishing. What should I do?

Be extra aware of scams circulating in relation to COVID-19. Remember, ASB will never ask you to log into internet banking from an email or txt message. Please forward all suspicious emails to phishing@asb.co.nz

Government package

What business activities are ineligible for the Government Business Finance Guarantee Scheme?

The following list are businesses that the Government has deemed to be ineligible for the Government Business Finance Guarantee Scheme:

  • Property development and property investment
  • Being a local authority, a council-controlled organisation or a council organisation for the purposes of the Local Government Act 2002
  • The manufacture of cluster munitions
  • The manufacture or testing of nuclear explosive devices (NEDs)
  • The manufacture of anti-personnel mines
  • The manufacture of tobacco
  • The processing of whale meat
  • Recreational cannabis
  • The manufacture of civilian automatic and semi-automatic firearms, magazines or parts
  • Any other activity notified by the Government in writing to ASB (this list will be updated should that happen). 

Where do I find the forms online for the Government assistance package?

Details for the various assistance packages offered by the government can be found here. There are links to the various factsheets outlining assistance packages available and how to apply.

Contactless limit change

Why do some cards still require a PIN to be entered for contactless transactions between $80 and $200?

Some cards issued by ASB still require a PIN to be entered for transactions over $80. This is because of a requirement set within the card itself and overrides the recent industry threshold increase.

My EFTPOS terminal requires some customers to enter a PIN for contactless transactions between $80 and $200. Is something wrong with my terminal?

No there is nothing wrong with your terminal. Some cards issued by ASB still require a PIN to be entered for transactions over $80. This is because of a requirement set within the card itself and overrides the recent industry threshold increase.

My customers are complaining because they need to enter a PIN for contactless transactions over $80. What should I tell them?

Some cards issued by ASB still require a PIN to be entered. There is nothing wrong with their card and can continue to purchase as they have done so previously, however they can refer to their bank for more information if required.

How should I recommend customers to pay in my store?

To allow your customers to safely and securely make payments whilst reducing physical contact with your terminal we recommend contactless payments where possible. Examples of contactless payments are Visa payWave and Mastercard payPass, or with an eligible iOS device, Android phone, or smart device such as Fitbit or Garmin.

Why are some customers are still being asked to enter their PIN for Apple Pay?

This is because there are still a few terminals in NZ that need to be updated with new software. We expect this will completed by the main terminal providers over the coming months.

Is my terminal capable of accepting contactless payments?

Almost all terminals in NZ are contactless capable and already contain an NFC reader, so you should be good to go. If you’re not sure, call our ASB merchant team on 0800 272 555, option 3.

Who do I talk to if I want to accept contactless transactions?

Contact our ASB merchant team on 0800 272 555, option 3.

How will my EFTPOS terminal be updated to the new contactless limit?

The new $200 contactless limit will be updated and gradually applied to terminals from 9 April 2020. Given the number of cards, payment terminals and businesses involved, it could take up to a few weeks for the roll out to be completed. For your terminal to be updated, you just need to ensure it is plugged in and logged on.

If the new value hasn’t been applied, please restart your terminal in the first instance prior to contacting your Terminal Vendor.

What if my terminal is still only processing contactless to the value of $80?

Restart your terminal in the first instance. If that still doesn’t work contact your  erminal vendor (contact details should be on the bottom of the terminal).

Corporate Banking

If you have questions or concerns regarding what coronavirus means for you or how it may impact your business, contact your relationship manager sooner rather than later.

We'll tailor options that meet your needs and work side-by-side with you through this challenge.