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ANZ Fee changes

We're removing a range of banking fees

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We're leading the way by removing a range of fees for internet, phone and mobile phone banking as part of our new, simplified fees structure for ANZ accounts. This new fee structure will make banking for our customers less complicated, while also increasing fairness and transparency.

From 1 December 2009 we're:

Removing a range of everyday fees, mainly relating to internet, phone and mobile phone banking where staff assistance is not required for our customers
  • Phone Direct calls (previously only five free per month then 50c each)
  • Automatic Payment Service Fee (previously 30c per payment)*
  • Bill Payment Service Fee (previously 35c per payment)*
  • Pay Anyone Service Fee (previously 35c per payment)*
  • Mobile Phone Banking Monthly Access Fee (previously $2 per month)
  • Mobile Phone Banking Account Alert Fee (previously 25c to receive an alert)
  • Automatic Payment amendment and/or suspension of Automatic Payment via Phone Direct (previously $5 each)
  • Night & Day.PIX card initial fee (previously $10)
  • Night & Day.PIX card redesign fee (previously $5)
Removing Cash-handling fees for businesses with turnover of less than $2 million.
Removal of Cash-handling fees will take effect from 15 November 2009. (Previously businesses with turnover of less than $2 million were charged 25c per complete $100 (minimum $5.00) for deposits over $2,000 per customer per day.)
Reducing five exception fees including unarranged overdraft fees, insufficient funds fees, missed loan repayment fees and credit card late payment and over limit fees for our personal and business customers
  • Unarranged overdraft Fee will reduce from $10 to $8, with a maximum of $8 per account per day.
  • Insufficient Funds Fee will reduce from $30 to $10 per event
  • Missed Loan Repayment Fee will reduce from $20 to $10 per event
  • Credit Card Late Payment Fee will reduce from $25 to $15 per month
  • Credit Card Over Limit Fee will reduce from $20 to $15 per month

From the end of December 2009 we'll also remove the Unarranged Overdraft Fee when the overdrawn amount is less than $20 on ANZ personal transaction accounts.

* Transaction fees will still apply for Pay As You Go accounts, such as the Control account and the Business Current Account. ANZ Direct Online fees still apply for customers using this service. Business Banking customers will benefit from the fee reductions and the removal of fees from ANZ Internet Banking, ANZ Phone Direct and ANZ Mobile Phone Banking if they use these channels

To further help customers reduce exception fees, we're also:

  • Introducing the ANZ Everyday Lite account on 1 December 2009 that doesn't charge exception fees, such as the Unarranged Overdraft Fee and Insufficient Funds fee, and it limits personal customers from overdrawing their account.
  • Making it free to receive mobile phone banking balance text alerts from 1 December 2009 so you can keep an eye on how much you have in your account.
  • Using these changes as an opportunity to remind customers that they can use any of ANZ or The National Bank's 750 ATMs around New Zealand without the extra charge associated with using another bank's ATM. In addition, the ANZ Advantage account charges no fee for using other banks' ATMs in New Zealand.

Full list of tips to help you further reduce fees

Media Release Clarification 

The media release dated 9 October 2009 stated that there will be no charges for setting up Automatic Payments through self service channels on ANZ Phone Direct. To clarify, self service technology is not available for setting up Automatic Payments through ANZ Phone Direct which requires staff assistance and therefore a fee will apply.

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