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If you need to close your bank account with Auckland Savings Bank — or ASB as it's better known — the process is simple but there's a few things you need to know before you can go through with it.
This article will guide you through how to close your ASB account. We’ll also introduce you to the Wise multi currency account, an alternative account you can open if you need somewhere to transfer your money to.
|💸 Looking for a stress-free international account, with your very own NZD account details?
Before you jump right in and go to close your ASB bank account, the most important thing to do is to empty your account.
Then ASB states you should look at whether you need to¹:
- Download any past bank statements and documents from your Fastnet internet banking account
- Remove any direct debits off the account
- Pay any overdrafts, loans, or credit card balances
- If you have issued any cheques, make sure they are cleared
Once you have ticked off each of the steps above as they relate to you, you are ready to close your ASB bank account. Let’s go through how you can do this.
There are two ways to close an ASB Streamline account or ASB savings account. You can either¹:
- Visit a branch with two forms of ID
- Call 0800 803 804 and have your verbal bank password handy and be ready to answers some personal verification questions
If you need to close an ASB joint account, both account holders need to visit a branch to close the account.¹
If you have an ASB credit card account, you can close your account at any time by writing to ASB or via phone. ASB may request you to pay any outstanding payments or unpaid fees and costs l immediately. Once you have closed the account, all cards associated with the account will need to be destroyed by you.³
You cannot close your account online or from overseas. The only options to close your ASB bank account is by calling ASB with your verbal bank password or by visiting a branch.²
If you have any more questions about how to close your account or a general enquiry, you can contact ASB by³:
- Logging into your FastNet Classic Online Banking account and clicking “My messages”
- Calling 0800 327 863
- Calling + 64 9 306 3185
ASB customer support lines are open between 8am to 8pm Monday to Friday and 8:30am to 5pm Saturday and Sunday.
ASB does not disclose if there are any additional fees to close your account. Keep in mind that you may pay transfer fees to move out your money to other banks.
There are many alternative banks that you can open accounts with in New Zealand. Some popular banks include KiwiBank, Bank of New Zealand, Westpac New Zealand, or Australia and New Zealand Bank (ANZ) — or you can give Wise a go.
Wise offers international payment services as well as a smart and flexible Multi-Currency account. If you’re looking for an alternative to traditional banks, which also cuts the costs of sending money overseas, Wise is for you.
Your multi-currency account can hold 40+ currencies, receive fee free payments using your very own NZD account details, send money to 80 countries, always using the mid-market rate — with a low and transparent fee.
You can also get a debit card to spend with at home and avoid foreign transaction fees while abroad.
If you’re looking to move your balance from your ASB account abroad, you can use our pricing calculator to have an idea of how much you get to save with Wise.
Sources checked on: 23 April 2022
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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