Changes to ANZ rates, fees and agreements

ANZ credit card interest rate changes

Notice published 15 March 2024

Effective from 22 March 2024 we're making changes to some of our credit card interest rates. There are no other changes to how we calculate and charge interest. See below for a summary of the changes. You can see all credit card interest rates on Credit card rates, fees and agreements.


Current purchase rate (p.a.)

New purchase rate (p.a.)

Current cash advance rate (p.a.)

New cash advance rate (p.a.)

Change (p.a.)

  • Airpoints™ Visa
  • Airpoints™ Visa Platinum
  • CashBack Visa
  • CashBack Visa Platinum
  • Visa Company
  • Visa Corporate
  • Lodged Purchasing
  • Visa Purchasing
  • Visa Business CashBack
  • Visa Business Airpoints™

19.95%

20.95%

19.95%

20.95%

+1%

  • Low Rate Visa
  • Visa Business Low Rate

12.90%

13.90%

19.95%

20.95%

+1%

Airpoints™ is the registered trademark for the loyalty programme operated by Air New Zealand.

Changes to ANZ General Terms and Conditions

Notice published 8 March 2024

Effective from 14 March 2024 we’re updating our ANZ General Terms and Conditions to clarify how and when interest is paid on your term deposit. 

For New Zealand dollar term deposits, if we’re due to pay you interest on a non-business day, we’ll process the payment no later than the next business day. We’ll only pay interest up to and including the day before the original payment date.

If your New Zealand dollar term deposit term is due to end on a non-business day, we’ll automatically extend the term to end on the next business day.

For foreign currency term deposits, we’ll only pay you interest at the end of your term. If your foreign currency term deposit is due to end on a non-business day, we’ll only pay interest up to and including the day before the original payment date, even if the payment is processed on the next business day.

Non-business days are Saturdays, Sundays, or New Zealand public holidays.

On 14 March 2024, the updated terms and conditions will be available on our General terms and conditions page or from any ANZ branch

Changes to merchant manual credit card authorisation hold

Notice published 23 February 2024

Effective from 15 March 2024, we’ll no longer accept the ability to manually hold credit card authorisation  .

We will continue to accept authorise and purchase transactions through our Credit Card Authorisations Centre on 0800 741 100. Your existing merchant terminal facility will not be impacted.

We are also making minor changes to some other provisions to ensure accuracy. This includes the information we provide about security checks to validate a nominated card and transaction   receipts.

An updated copy of our ANZ Merchant Agreement and ANZ Merchant Operating guide will be available from 15 March 2024 on our General terms and conditions page.

Changes to ANZ excess interest rate

Notice published 21 February 2024

Effective 13 March 2024 we’re changing the Excess Interest Rate on our ANZ Personal and ANZ Business Products. An Excess Interest Rate is charged on any amount over your overdraft or credit limit. It’s also charged if you don’t have an overdraft or credit limit and your balance goes below $0.

We're reducing the Excess Interest Rate Margin for our ANZ Personal and Business Products listed below from 15% p.a. to 7% p.a. (a reduction of 8% p.a.). For the Agri Current Account, the Excess Interest Rate Margin will move from 8% p.a. to 7% p.a. (a reduction of 1% p.a.).

ANZ Personal Products

  • Agri Personal Current Account
  • Flexible Home Loan
  • Freedom Account
  • Go Account
  • Jumpstart Account
  • Online Account 
  • Private Current Account
  • Private Reserve Account
  • Select Account
  • Serious Saver Account

ANZ Business Products

  • Agri Current Account
  • Agri Flexible Facility
  • Business Current Account
  • Business Flexible Facility
  • Business Premium Call Account
  • Business Premium Current Account
  • Commercial Cheque Account
  • Commercial Flexible Facility

Rates subject to change.

Changes to Pay to Mobile

Notice published 12 February 2024 (updated 20 February 2024 with an extended date for updating our ANZ General Terms and Conditions)

Effective 27 February 2024 (the Effective Date), we’re updating our ANZ Electronic Banking Conditions, and effective 1 March 2024 we’re updating our ANZ General Terms and Conditions to reflect that the Pay to Mobile feature in the ANZ goMoney mobile app will only allow money to be sent to other ANZ customers who are also registered for Pay to Mobile. Previously it was anyone with a New Zealand bank account using just their mobile number. 

We’ll check the mobile phone number when a Pay to Mobile payment is made, and if the person being paid is not registered for Pay to Mobile, there will be a ‘Payment failed’ message. 

The changes to Pay to Mobile will be made incrementally across the day to our customers on the Effective Date. This means there will be a period of time on the Effective Date where some customers will only be able to send money to other ANZ customers who are registered for Pay to Mobile, while other customers will still be able to send money to any mobile number. 

Once these changes have been made for all customers on the Effective Date, the ANZ Electronic Banking Conditions will be updated and available on our General terms and conditions page or from any ANZ branch. On 1 March 2024 the updated ANZ General Terms and Conditions will be available on our website or from any branch.

Changes to foreign cheques

Notice published 30 January 2024

Effective from 1 March 2024, we’ll no longer accept foreign cheques of any currency for deposit into ANZ accounts.

You will not be able to deposit foreign cheques into ANZ accounts after 29 February 2024. We encourage you to look at other payment methods if you’re still receiving foreign cheques. For more information about this change, please visit our Changes to foreign cheques page.

An updated copy of our ANZ General Terms and Conditions and ANZ Fees and Charges will be available from 1 March 2024 on our General terms and conditions page or on request from any ANZ branch.

We’re also updating the Country Schedule New Zealand as part of this change and it will be available from 1 March 2024 on our ANZ Transactive – Global page. 

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 StatementTerms and Conditions and Fees and Charges, or you can request these, free of charge, from any ANZ branch.