Notices - 2021
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%
|
ASB announces the following Business and Rural interest rate changes:
- Corporate Indicator Rate has increased from 3.03% to 3.28% p.a.
- Rural Base Rate has increased from 5.86% to 6.11% p.a.
- Special Purpose Base Rate has increased from 1.75% to 2.00% p.a.
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:
Lending
The Corporate Indicator Rate has increased from 2.84% to 3.03% p.a.
The Business Floating Base Rate has increased from 1.64% to 1.75% p.a.
The Rural Base Rate has increased from 5.67% to 5.86% p.a.
The Special Purpose Base Rate has increased from 1.50% to 1.75% p.a.
Savings
Business Saver Rate has increased from 0.05% to 0.15% p.a.
Business MoneyMaker Rate has increased from 0.05% to 0.15% p.a.
Business Accelerator Base Rate has increased from 0.00% to 0.15% p.a. with bonus interest no longer payable.
Corporate Saver Rate has increased from 0.00% to 0.15% p.a. for non-negotiated accounts.
Commercial Call Base Rate has increased to 0.15% p.a.
These changes will be effective on and from 13 October 2021. Interest rates are subject to change.
Education Administration Account rate will increase from 0.05% to 0.15% p.a. effective 1st November.
ASB announces the following savings interest rate changes - effective Wednesday 13th October 2021
ASB is changing the interest rates on the following Savings accounts. These changes are effective Wednesday 13th October 2021.
Interest rates are subject to change.
|
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.
Changes to ASB Guide to business banking fees
We've made changes to the ASB Guide to business banking fees. These changes are effective from 27 August 2021:
In line with ASB phasing out cheques, we have removed cheque related fees and service charges from our business banking products. Please note this change does not include Foreign Currency and New Zealand drawn Foreign Exchange cheques.
We are also updating the monthly base fee on our Commercial Credit Facility account as below:
If the average monthly account balance is equal to or between $2999.99 in credit and $2999.99 overdrawn: $5.00 per month
If the average monthly account balance is $3000 in credit or greater, or $3000 overdrawn or greater: $3.00 per month
Change to ASB Visa Debit Card Conditions of Use
Due to the removal of cheques, we have removed reference to cheque clearance verification at ATMs from the ASB Visa Debit Card Conditions of Use (clause 4.23).
This change is effective from Monday 16 August 2021 for new and existing customers. The updated document will be available here.
Changes to ASB Personal Banking Terms and Conditions, Term Deposit Terms and Conditions and Guide to Fees
We've made changes to our Personal Banking Terms and Conditions, Term Deposit Terms and Conditions and Guide to Fees. These changes are effective from the 30 August 2021 and have been made to reflect the fact that ASB no longer processes cheques.
Change to the ASB Visa Platinum Rewards and ASB Visa Gold Travel Insurance policy
Due to the removal of cheques, we have removed reference to cheques from the ASB Visa Platinum Rewards and ASB Visa Gold travel insurance policy. The change is specific to the use of an ASB cheque as a way to pay 50% or more of your overseas travel to meet the activation criteria for your credit card travel insurance policy.
These changes are effective from Monday 16 August 2021 for new and existing customers.
The updated ASB Visa Platinum Rewards travel policy is available here.
The updated ASB Visa Gold travel policy is available here.
We've made some changes to FastNet Classic internet banking
From 28 July 2021, FastNet Classic will have a refreshed look and feel, easier navigation to your everyday tasks and some new features.
ASB is withdrawing all foreign notes services from 2 July 2021
As more customers enjoy the simplicity, convenience and security of ASB Debit and Credit cards when travelling overseas, and with the reduction in international travel due to the COVID-19 pandemic, ASB is withdrawing all foreign notes services from 2 July 2021. This means ASB will no longer buy or sell foreign notes from this date. Find out more.
The applicable Terms and Conditions relating to foreign notes services will be amended as follows, effective from 2 July 2021:
- Foreign Exchange Terms and Conditions: Section 6. Foreign Cash deleted
- Foreign Currency Account and Global Markets Term Deposit Terms and Conditions: Clause 6.9, which references fees related to foreign notes used for a foreign currency term deposit, deleted.
The updated Terms and Conditions will be available here.
Change to ASB Personal Banking Terms and Conditions
We've made changes to our Personal Banking Terms and Conditions. These changes are effective from 23 June 2021:
Clause 21.3 has been updated to reflect the fact that joint accounts, where two people are required to operate, can now make certain approved payments through FastNet Classic internet banking.
ASB announces the following Savings interest rate changes - effective Tuesday 1 June 2021.
ASB is changing the interest rates on the following Savings accounts. These changes are effective Tuesday 1 June 2021.
Interest rates are subject to change.
|
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:
- The ASB Merchant Facility Terms and Conditions and the Credit Cards Merchant Services Agreement General Terms and Conditions (ENZ Network) have been combined to form the new ASB Merchant Services Terms and Conditions. If you have previously agreed to either of these documents the new ASB Merchant Services Terms and Conditions can be found here.
- The Paymark Merchant Tripartite Agreement Terms and Conditions and the Smartpay Hardware and Services Agreement have been separated from the ASB Merchant Facility Terms and Conditions.
- If you have previously agreed to the Paymark Merchant Tripartite Agreement Terms and Conditions as part of the ASB Merchant Facility Terms and Conditions then the Paymark Merchant Tripartite Agreement Terms and Conditions can now be found here.
- If you have previously agreed to the Smartpay Hardware and Services Agreement as part of the ASB Merchant Facility Terms and Conditions then the Smartpay Hardware and Services Agreement can now be found here.
Changes to the ASB Cash Fund and ASB Term Fund Terms and Conditions
We've made changes to the ASB Cash Fund and ASB Term Fund Terms and Conditions. These changes are effective from 23 April 2021.
The following sections have been updated:
- Section 2 Description of the investment
- Section 5.4 Under or Overpaid tax
ASB announces the following Personal Loan interest rate change - effective 15/03/2021
The ASB Personal Loan interest rate will be changed to 12.90% p.a. on 15/03/2021. This change will apply to all new ASB Personal Loans entered into on and from this date.
Interest rates are subject to change.
Change to ASB Rural Savings Products, effective from 10 May 2021
ASB will be withdrawing the following rural savings products on Monday 10 May 2021:
Rural Moneymaker (legacy product)
Farmsaver (legacy product)
Rural Accelerator (legacy product)
Rural Call
Rural Call Negotiated
All impacted customers will be contacted prior to closure.
Changes to ASB Securities Terms and Conditions
We've made changes to the ASB Securities Terms and Conditions. These changes are effective from 19 March 2021.
Internet Trading clause 14.3 has been inserted to include additional two-step verification methods.
Changes to address the repeal of the Trustee Act 1956 and ensure compliance with the new Trusts Act 2019, are found in Clauses 10.3 and 42.3.
The updated document is available here.
Change to ASB Guide to Fees, ASB Guide to business banking fees
Effective 31 March 2021 we are removing the Replacement Card Fee for all our card product as below;
|
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
Change to ASB Personal Banking Terms and Conditions
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
