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Changes to ANZ rates, fees and agreements


Changes to recent customer compeititons

 

Due to the impact of COVID-19, we stopped some non-essential services including account opening for new customers. As a result, the Terms and Conditions for two Marketing Prize Draw Competitions has changed. The end dates for the competitions and when the winners will be selected has changed.  This is set out in the two tables below.  All other Terms and Conditions remain the same.

ANZ 'Win a share of $20,000 cash' Prize Draw Competition

Original competition end-date

New competition end-date

6 April 2020

23 March 2020

Original prize draw date

New prize draw date

Week commencing 13 April 2020

Between 1 July and 1 August 2020

 

Updated ANZ 'Win a share of $20,000 cash' Prize Draw Competition Terms and Conditions (PDF 95kB)

 

ANZ 'Win 1 of 10 $1,000 Cash Prizes' Prize Draw Competition

Original competition end-date

New competition end-date

15 May 2020

23 March 2020

Original prize draw date

New prize draw date

Week commencing 25 May 2020

Between 1 July and 1 August 2020

 

Updated ANZ 'Win 1 of 10 $1,000 Cash Prizes' Prize Draw Competition Terms and Conditions (PDF 96kB)

Changes to ANZ rates, fees, and terms and conditions effective 1 July 2020

We’re removing or reducing some fees, effective 1 July 2020, and extending the special purchase and cash advance interest rate on some ANZ credit cards until 30 September 2020. We’ve summarised the changes below.

Non-standard fees

From 1 July 2020, we’re removing the following fees:

Fee Type

Current Fee

New Fee

Failed Payment Fee

$2.50

No charge

Dishonour Fee

$2.50

No charge

Duplicate Statement Fee

$4.00

No Charge

 

We’ve updated our ANZ General Terms and Conditions, ANZ Electronic Banking Conditions, ANZ Flexible Home Loan Terms and Conditions, ANZ Personal Loan Terms and Conditions, ANZ Business Flexible Facility Terms and Conditions and ANZ Fees and Charges brochure to reflect these changes, and these will be available at anz.co.nz/termsandconditions from 1 July 2020. All other non-standard fees remain the same.

Credit card fees

From 1 July 2020, we’re changing the following credit card fees:

Fee Type

Current Fee

New Fee

Late Payment Fee

$12.00

$6.00

Over-limit Fee

$2.50

No charge

Statement Copy Fee

$3.00

No charge

 

We’ve updated our ANZ Fees and Charges brochure, ANZ Credit Cards Conditions of Use, ANZ Visa Business Credit Card Guide, ANZ Lodged Purchasing Card Facility Terms and Conditions and ANZ Visa Corporate Card and Visa Purchasing Card Guide to reflect these changes, and these will be available at anz.co.nz/termsandconditions from 1 July 2020. All other credit card fees remain the same.

Credit card interest rates

On 1 April 2020, we reduced some of our credit card interest rates. Those changes included a temporary special purchase and cash advance interest rate of 9.95% p.a. on ANZ Low Rate Visa, Visa Business Low Rate, Visa Business Airpoints™ and Visa Business CashBack which was due to expire on 30 June 2020. We’ve extended that special purchase and cash advance interest rate on those ANZ credit cards until 30 September 2020. From 1 October 2020, standard interest rates will apply:

Card Type

1 April 2020 – 30 September 2020

From 1 October 2020

 

Purchase Interest Rate

Cash Advance Interest Rate

Standard Purchase Interest Rate (currently)

Standard Cash Advance Interest Rate (currently)

Low Rate Visa

9.95% p.a.

9.95% p.a.

12.90% p.a.

19.95% p.a.

Visa Business Low Rate

9.95% p.a.

9.95% p.a.

12.90% p.a.

19.95% p.a.

Visa Business Airpoints™ and Visa Business CashBack

9.95% p.a.

9.95% p.a.

19.95% p.a.

19.95% p.a.

 

To check our current standard interest rates, please visit anz.co.nz/cardterms.

Changes to the ANZ Visa Debit card fee for an ANZ Go account

From 1 July 2020, new Visa Debit cards linked to an ANZ Go account will have the annual card fee of $10 waived for the first 12 months. After 12 months an annual card fee of $10 will apply.

Our website will be updated to reflect these changes on 1 July 2020.

Changing an ANZ Home loan during a fixed-rate period

From 1 July 2020, we’re changing our ANZ Home Loan Terms and Conditions around what may happen if you ask for changes to your loan during a fixed-rate period.

  • If you ask for changes during a fixed-rate period and we agree, we currently may give you a new loan, with the changes you’ve asked for. That new loan forms part of your existing loan agreement.
  • From 1 July 2020, we can also choose to give you that new loan as a new loan agreement. That new loan will be used to repay your existing fixed rate loan. You also agree to be bound by the terms of that new loan agreement when you ask us for changes to your existing loan during a fixed-rate period.

Accessing ANZ Flexible Home loans in instalments

From 1 July 2020, we’re clarifying how you can access your facility in our ANZ Flexible Home Loan Terms and Conditions.

Our terms currently state you can access your facility, up to your credit limit, from the draw-down date, in the same way as you access other funds in your ANZ transaction account. From 1 July 2020, we’re amending this to state that approach applies, unless we’ve agreed that you can access your loan in instalments. If we’ve agreed you can access your loan in instalments, we’ll outline this in your facility summary under ‘How we’ll provide this facility’.

Terms about how we send statements and other notices

From 1 July 2020, we’re making changes to our ANZ General Terms and Conditions, Personal Loan, Home Loan, Flexible Home Loan, Business Loan, and Flexible Business Loan Terms and Conditions, and Credit Card Conditions of Use.

  • Under those terms and conditions, you must now keep your contact information up-to-date, and tell us as soon as possible if any of your contact details change. You can ask us to confirm or update the contact details at any time.
  • We’re also clarifying what contact details we’ll use if you’ve asked us to post you a statement or other letters or notices. Under our terms and conditions, we’ll now send those documents for your account, loan, facility or credit card (as applicable) to the last address we have for you or another address agreed with us.
  • For our ANZ General Terms and Conditions and ANZ Credit Card Conditions of Use, we’re also clarifying how you’ll receive your communications.
    • If you have a joint account, we can give or send a statement to only one account owner. If we do give or send a statement to only one account owner, each remaining account owner agrees they receive that statement too.
    • If more than one person is the borrower under your credit card agreement, we can give or send a letter or notice to only one of those people. If we do give or send a letter or notice to only one person, each person making up the borrower agrees they receive that letter or notice too.

Updated copies of our terms and conditions

Given the changes outlined above, updated copies of the following terms and conditions will be available at anz.co.nz/termsandconditions from 1 July 2020:

  • ANZ General Terms and Conditions
  • ANZ Home Loan Terms and Conditions
  • ANZ Flexible Home Loan Terms and Conditions
  • ANZ Business Loan Terms and Conditions
  • ANZ Business Flexible Loan Terms and Conditions
  • ANZ Personal Loan Terms and Conditions
  • ANZ Credit Card Conditions of Use
  • ANZ Electronic Banking Conditions
  • ANZ Fees and Charges brochure
  • ANZ Visa Business Credit Card Guide
  • ANZ Lodged Purchasing Card Facility Terms and Conditions
  • ANZ Visa Corporate Card
  • Visa Purchasing Card Guide

ANZ lending criteria, terms, conditions and fees apply.