Changes to ANZ rates, fees and agreements
Changes to benefits available under ANZ banking packages
Notice published 21 November 2024
We’re making a change to the benefits available under our ANZ banking packages. This means that ANZ will no longer offer a benefit for ANZ Life & Living Insurance under ANZ banking packages from and including 5 December. This change will not affect existing ANZ Life & Living Insurance policyholders who have signed up under an ANZ banking package.
This change impacts the terms and conditions for the following ANZ banking packages: ANZ@work, ANZ Staff Banking and Retired Officer, Law and Accounting Professionals, Franchise, Early Childcare Council and NZ Bar Association packages.
For information about a specific package, including package eligibility criteria and package benefits, or a copy of the new ANZ banking package Terms and Conditions, call our team on 0800 269 296 or visit any ANZ branch. ANZ Life & Living Insurance is provided by Chubb Life Insurance New Zealand Limited. No member of ANZ Bank New Zealand Limited and its related companies, or any other person, guarantees Chubb Life or any of its subsidiaries, or any of the products issued by them.
ANZ Data Sharing service expanded for third parties and additional accounts
Notice published 12 November 2024
We’re enhancing the ANZ Data Sharing service. From 26 November 2024, ANZ customers will be able to securely share their account information with approved third parties. We’re also expanding the account types that data can be shared from, including business accounts. We’ve also made changes to improve clarity.
This change is detailed under the following sections:
- About Data Sharing
- Here’s how Data Sharing works
- How your information is collected and shared
- How to stop sharing information
- How your information is kept safe
- Service availability
- Privacy
The updated Data Sharing Service Terms and Conditions will be available at ANZ Data Sharing and in ANZ goMoney from 26 November 2024.
Changes to ANZ Business overdraft interest rates
Notice published 12 November 2024
We're making changes to some of our business overdraft interest rates. See below for a summary of the changes and effective date.
New rate (p.a.) | Change (p.a.) | Effective date | |
|---|---|---|---|
Commercial Overdraft base rate | 12.75% | -0.15% | 12 November 2024 |
Business Bank Indicator Rate (BBIR) | 12.75% | -0.15% | 12 November 2024 |
Agri Current Account base rate | 10.95% | -0.15% | 12 November 2024 |
Business Overdraft base rate | 14.75% | -0.15% | 12 November 2024 |
Interest rates are subject to change. Our lending criteria, terms, conditions, and fees apply.
Changes to ANZ ATM transaction daily cut-off time
Notice published 4 November 2024
Effective from 19 November 2024, we’re changing the daily cut-off time for ANZ ATM withdrawals and ANZ ATM transfers between accounts (previously 7.30pm) to align with ANZ ATM deposits at 10pm. This means we’ll now process all ANZ ATM transactions up until 10pm, in line with other ANZ banking channels.
We’re updating the following documents, to reflect this change:
- ANZ General Terms and Conditions
- ANZ credit card conditions of use
The updated documents will be available from 19 November 2024 on our bank account rates, fees and agreements page, credit card rates, fees and agreements page and by request from any ANZ branch.
Changes to ANZ Direct Online Conditions of Use
Notice published 1 November 2024
Effective 8 December 2024, we’re making the following updates to the ANZ Direct Online Conditions of Use:
Reports and Interest Accrual within ANZ Direct Online
We’re updating this section to state that:
- Real Time Balances and Transactions screen displays the transaction date for payments, which is the date the payment was processed. This is generated every day of the year, including on weekends and public holidays.
- 5 Day Reports display transaction date columns to show the date a transaction was processed. These reports can only be generated for business days.
- 365 Reports show both the transaction date and the value date.
- 7 Day Reports display value date columns to show the date a transaction was made. These reports can be generated every day of the year, including on weekends and public holidays.
We’re also including a definition for ‘Transaction Date’ (being the date a transaction is processed) and ‘Value Date’ (which is the date a transaction is made). Finally, we are removing the term ‘User Guide’ and replacing it with ‘Online Help’ to reflect recent changes to the guides available for ANZ Direct Online.
Once these changes have been made, the updated ANZ Direct Online Conditions of Use will be available on ANZ Direct Online. They will also be available from any ANZ branch.
Change to ANZ interest rates
We're making changes to some of our home loan and account interest rates. See below for a summary of the changes and effective dates.
ANZ Home loans
New rate (p.a.) | Change (p.a.) | Effective date new loans | |
|---|---|---|---|
ANZ Floating Home Loan | 7.89% | -0.50% | Tuesday 15 October |
ANZ Flexible Home Loan | 8.00% | -0.50% | Tuesday 15 October |
ANZ Business Flexible Facility – Base Rate | 7.89% | -0.50% | Tuesday 15 October |
ANZ Interest-bearing accounts
Account balance | New rate (p.a.) | Change (p.a.) | Effective date | |
|---|---|---|---|---|
ANZ Online Account | $0.00+ | 2.00% | -0.50% | Tuesday 22 October |
ANZ Business Premium Call Account | $0.00+ | 2.00% | -0.50% | Tuesday 22 October |
ANZ Agri Current Account | $0.00+ | 1.70% | -0.50% | Tuesday 22 October |
ANZ Agri Personal Account | $0.00+ | 0.50% | -0.50% | Tuesday 22 October |
ANZ Business Premium Current Account | $0.00+ | 1.70% | -0.50% | Tuesday 22 October |
ANZ Select Account | $5,000+ | 0.80% | -0.50% | Tuesday 22 October |
ANZ Serious Saver account
New rate (p.a.) | Change (p.a.) | Effective date | |
|---|---|---|---|
Standard interest rate | 0.85% | -0.35% | Friday 1 November |
Premium interest rate^ | 2.90% | -0.15% | Friday 1 November |
Total interest rate | 3.75% | -0.50% | Friday 1 November |
^To earn premium interest, you must make no withdrawals and deposit $20 or more (not including credit interest) on or before the last business day of the month.
Change to ANZ Institutional Overdraft Base Rate
Notice published 8 October 2024
We’re making a change to our Institutional Overdraft Base Rate. See below for a summary of this change and effective date.
New interest rate (p.a.) | Change (p.a.) | Effective date | |
|---|---|---|---|
Institutional Overdraft Base Rate | 8.05% | -0.50% | 22 October 2024 |
Interest rates are subject to change.
Changes to the Fair Trading Act and our standard form small trade loan contracts
Effective from 16 August 2022
We’ve reviewed and made changes to our standard form small trade loan contracts to comply with certain changes to the Fair Trading Act 1986. Those changes extend protections that currently apply to customers who have standard form consumer contracts to customers on standard form small trade contracts.
What are standard form small trade loan contracts?
Small trade contracts are defined in section 26C of the Fair Trading Act 1986 and standard form contracts are defined in section 46J of the Fair Trading Act 1986. If your loan or facility with us is a small trade contract and is documented on any of the ANZ template standard form contracts set out at the end of this notice, then that is a standard form small trade loan contract for the purposes of this notice.
What are the changes?
Generally, we’ve made the following changes to our standard form small trade loan contracts covered by this notice:
- Events of default clauses: Where our standard form small trade loan contracts include default clauses, we’re including remedy periods or materiality thresholds into some of the circumstances that could result in you being in default
- Indemnities: Where you’ve given us an indemnity, we’re generally limiting the scope of costs we can recover from you under that indemnity
- Unilateral changes: We’re:
- clarifying the changes we can make to standard form small trade loan contracts and what you can do if you’re not happy with the changes we’re making; and
- limiting when we can make those changes immediately and generally extending the notice period to 30 days’ notice for other changes - Limitation of liability: We’re generally not limiting our liability for loss or damage that arises from our gross negligence or wilful misconduct
- Entire agreement clauses: We’re not excluding prior statements or representations that may have been made
- Conclusive evidence clauses: Where we determine an amount, such as how much you owe us, and we say it is conclusive or binding on you, you’ll be able to ask us how we’ve calculated that amount if you think it’s incorrect.
What contracts and customers are impacted?
New and existing small trade customers will both benefit from these changes we have made. From 16 August 2022 the standard form small trade loan contracts we issue, and the processes we apply to the existing standard form small trade loan contracts that are signed, varied or renewed from that date, will reflect the changes we’ve outlined above.
ANZ template standard form small trade loan contracts governed by this notice
- Commercial and Corporate Facility Agreements (and associated general conditions or general conditions – development)
- Agri Loan Agreements
- Agri Current Account Agreements
- Business Overdrafts (and associated overdraft terms and conditions)
- Commercial and Corporate Development and Investment Facility Agreements and Investment Facility Agreements (and associated general conditions)
If you have received a Loan Summary or Flexible Facility Summary from us that’s issued under the Business Loan Terms and Conditions or the Business Flexible Facility Terms and Conditions, we’ve separately updated those terms and conditions effective from 16 August 2022 – please visit our business agreements page to view those terms and conditions.
Important information
Our eligibility criteria apply. Fees and interest rates are subject to change. For full details see our Reserve Bank Disclosure Statement, Terms and Conditions and Fees and Charges, or you can request these, free of charge, from any ANZ branch.
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