Changes to ANZ rates, fees and agreements

  

Updates to the ANZ Privacy Statement

Notice published 1 December 2023

Effective 15 December 2023, we’re updating the ANZ Privacy Statement. These changes include updating how we may collect, use and share your personal information to include where we may:

  • Use your personal information to identify, prevent, investigate or take action in respect of financial crime.
  • Share your personal information with:
    • anyone who helps us or who we work with to identify, prevent or investigate fraud, suspicious transactions, unlawful activity, misconduct or threats to our systems;
    • the police, other financial institutions or government agencies in New Zealand or overseas if we believe the information will help prevent, investigate or take action in respect of financial crime including fraud, suspicious transactions, or money laundering, or other crimes.
  • Collect, use and share your personal information using Closed Circuit Television (CCTV) systems.
  • Share your information with, and collect information from, credit reporting agencies for other purposes as set out in this Privacy Statement.
  • Use your personal information to do market and customer research and analysis, generate insights and share this information with third parties, including members of the ANZ Group, to create insights and analytics.

An updated copy of the ANZ Privacy Statement will be available from 15 December on our Privacy at ANZ page or from any ANZ branch.

Introducing new card settings feature in ANZ goMoney

Notice published 10 November 2023

Effective 12 December 2023, we’re introducing a new card settings feature in the ANZ goMoney mobile app, allowing you to enable and disable the following card settings on your ANZ Visa Debit or credit card, including any card set up in a Mobile Wallet.  

With the new card settings feature you can turn on and off:

  • Contactless purchases 
  • Online shopping on your ANZ Visa Debit or credit card, including shopping over the phone 
  • Overseas in-person purchases, where your ANZ Visa Debit or credit card is physically presented at a merchant terminal outside of New Zealand (including ATMs). Contactless purchases must also be turned on if you want to make contactless purchases overseas
  • Online gambling where transactions are processed under the merchant category codes that are associated with gambling companies, such as online lotteries or gambling in apps. Exceptions apply as transactions to Government-owned lotteries may still be processed even if online gambling is disabled.

You can enable or disable a card setting in goMoney at any time. When reactivating online gambling, there’s a 48-hour delay (cooldown period) before your card can be used for online gambling. After the cooldown period has expired, you can use your card or Mobile Wallet for transactions that are processed under the merchant category codes that are associated with gambling companies.

The card settings feature is available on all ANZ Visa Debit and credit cards, except on ANZ Visa Company and ANZ Visa Lodged Purchasing cards.

We’re also clarifying that when we send you a replacement card your card details may be updated with participating merchants. 

We’re updating the following documents to reflect these changes from 12 December 2023:

  • ANZ EFTPOS card and ANZ Visa Debit card Conditions of Use
  • ANZ Credit Card Conditions of Use
  • ANZ Visa Corporate Card and Visa Purchasing Card Guide
  • ANZ Visa Business Credit Card Guide 

Please see these documents for the full terms and conditions that apply to card settings.

We’re also removing the credit card interest rate from the ANZ Visa Corporate Card and Visa Purchasing Card Guide and ANZ Visa Business Credit Card Guide as our up-to-date interest rates can be found on Credit card rates, fees and agreements.

Eligibility criteria and terms and conditions apply to ANZ goMoney. For more information, see ANZ Electronic Banking Conditions (PDF 147.5KB)

Updates to the ANZ Home Loan Terms and Conditions

Notice published 9 November 2023

Effective 24 November 2023, we’re updating the ANZ Home Loan Terms and Conditions with the following changes:

  • The Default Notice fee was previously charged if we had to prepare and send you a default notice for your loan under the Property Law Act 2007. ANZ no longer charges you for doing this, so we’re removing the reference to it. You must still pay any legal costs we incur if we have a solicitor prepare the default notice for us.
  • An Early Repayment Recovery may be charged when you repay some, or all of your home loan early during a fixed rate period. This is sometimes called a ‘break fee’ so we’re adding reference to this alternate name.
  • Where we describe how an Early Repayment Recovery is calculated, we’re adding more information to clarify that the date we use may be earlier than the start date of your fixed rate period if you entered into a Reserve Rate Agreement.

An updated copy of the ANZ Home Loan Terms and Conditions will be available from 24 November 2023 on our Home loan rates, fees and agreements page or from any ANZ branch.

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 charges?

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.