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Australian
New Account Form New Zealand
New Account Form

Account Options

Omni - (Current Account - for six months plus New Zealand Visa Holders Only)

Omni offers you all the features you expect in a cheque account. With Omni you have access to advanced automated banking services such as EFTPOS or ATM access, with the convenience of a cheque book, and 24 hours a day seven days a week access to your funds. With no monthly base fee, you decide the level of fees that you pay for transactions by choosing the method of accessing the account (ATM, Internet, telephone, automatic payments or manual transactions in branch).

Fees and Interest:

• Monthly fee - no monthly account fee

• Electronic transaction fees - $0.40 per transaction

• Manual transaction fees - $0.80 per transaction

• Credit interest - no credit interest paid.

Unlimited - (High Interest Current Account - for six months plus New Zealand Visa Holders Only)

Unlimited is a high interest cheque account that simplifies your banking by ensuring that you receive a high rate of interest (calculated daily and paid monthly) whilst retaining a high level of access to your funds. Unlimited offers you the benefits of a current account with the additional benefits of a savings account. A flat monthly account charge applies. From 1 October, the Omni Gold will be called the Unlimited Account.

Fees and Interest:

• Monthly fee - $12.00.

• Electronic transaction fees - no transaction fees

• Manual transaction fees - no transaction fees

• Credit interest –

       • Balances up to $99,999.99 will earn 5.50% interest p.a.

       • Balances from $100,000.00 and over will earn 8.25%.

       All rates subject to change at any time.

Streamline - (Electronic Transactional Account)

We know you’ve got better things to do than go to the Bank, so Streamline lets you do virtually everything using your debit access card, a phone or the Internet. The Streamline account offers lower electronic transaction fees, however does not offer a cheque book facility. This is ideal for people who do not use cheques or branch assisted services.

Fees and Interest:

• Monthly fee - $3.00 per month, but this can be exempt if you choose online statements only. This can apply once you have arrived in New Zealand and registered for Internet Banking.

• Electronic transaction fees - no electronic transaction fees

• Manual transaction fees - $3.00 per transaction - for deposits and withdrawals

• Credit interest - no credit interest paid

Accelerater - (High Interest Savings Account)

Accelerater will supercharge your savings so you are able to reach your savings goal faster, or grow your regular savings even quicker. With this account you will be paid a competitive rate of interest calculated daily on account balances, and additional bonus interest if you don’t make any withdrawals or transfers during the month. The Accelerater account has a “withdrawal disincentive” designed to help you resist the temptation of “dipping” into your savings too often. You are allowed one free withdrawal or transfer per month, after which you will be charged $5 for each subsequent withdrawal.

Fees and Interest:

• Monthly fee – no monthly account fee

• Transaction fees – one free per month, thereafter $5.00 per transaction.

• Credit interest –

       • $0.00 - $999 = 1.00%

       • $1000 - $4999 = 2.00%

       • $5000 and over = 2.75%

       • Bonus Rate = 2.40%.  

If you don’t make any withdrawals or transfers from your Accelerater account during the month you will also earn bonus interest for that month. All rates subject to change at any time.

FastSaver – (High Interest Online Savings Account)

FastSaver is the savings account that does exactly what it says. With a high rate of interest and no base or transaction fees you can watch your savings grow, fast. It is ideal for those who deposit and access their savings and balances via the phone or Internet. Please note this account is ONLY accessible via telephone and internet – you cannot access your funds through a branch.  For this reason, you may wish to open a transactional account, such as a Streamline or Omni Account as well.

Fees and Interest –

• Monthly fee – no monthly account fee

• Transaction fees – no transaction fees.

• Credit interest – 8.25% p.a. on all balances (subject to change at any time).

Moneymaker - (Everyday Savings Account)

Please note the Moneymaker Savings Account is no longer available.

What are deemed electronic transactions?

• Electronic transactions include EFTPOS (the system for using your debit card in shops for purchases), ATM (Automated Teller Machines), Automatic Payments, Bill Payments, FastCheque, Direct Debits, Direct Credits, FastNet Classic or FastPhone transfers, TXT banking transfers, mPayments and ASB FastDeposit Boxes.

What are deemed manual transactions?

• Manual transactions include Cheques and Staff Assisted Branch (including Business Banking Centre) and Contact Centre transactions.

For more information on choosing the correct account, visit www.asb.co.nz.

Terms and conditions for Personal Banking and the products and services referred to above are available on request from the London Office or ASB Bank Limited.

To download a New Account Pack as a pdf, please click here.

This website is produced by the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 ("The Bank"). This report is published, approved and distributed by the Bank. The Bank is incorporated in Australia with limited liability. Please view our website at www.research.commbank.com.au. The Bank and its subsidiaries, including CommSec, Commonwealth Australia Securities LLC, CBA Europe Ltd and Commonwealth Research, are domestic or foreign entities or business areas of the Commonwealth Bank Group of Companies (CBGOC). CBGOC and their directors, employees and representatives are referred to in this disclaimer as "the Group". This report (including this website where ?this report? is used henceforth) is published solely for informational purposes and is not to be construed as a solicitation or an offer to buy any securities or financial instruments. This report has been prepared without taking account of the objectives, financial situation and capacity to bear loss, knowledge, experience or needs of any specific person who may receive this report. No member of the Group does, or is required to, assess the appropriateness or suitability of the report for recipients who therefore do not benefit from any regulatory protections in this regard. All recipients should, before acting on the information in this report, consider the appropriateness and suitability of the information, having regard to their own objectives, financial situation and needs, and, if necessary seek the appropriate professional, foreign exchange or financial advice regarding the content of this report. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made, based on the information available at the time of its compilation, but no representation or warranty, either expressed or implied, is made or provided as to accuracy, reliability or completeness of any statement made in this report. Any opinions, conclusions or recommendations set forth in this report are subject to change without notice and may differ or be contrary to the opinions, conclusions or recommendations expressed elsewhere by the Group. We are under no obligation to, and do not, update or keep current the information contained in this report. The Group does not accept any liability for any loss or damage arising out of the use of all or any part of this report. Any valuations, projections and forecasts contained in this report are based on a number of assumptions and estimates and are subject to contingencies and uncertainties. Different assumptions and estimates could result in materially different results. The Group does not represent or warrant that any of these valuations, projections or forecasts, or any of the underlying assumptions or estimates, will be met. Past performance is not a reliable indicator of future performance. The Group has provided, provides, or seeks to provide, investment banking, capital markets and/or other services, including financial services, to the companies described in the report and their associates. This report is not directed to, or intended for distribution to or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would subject any entity within the Group to any registration or licensing requirement within such jurisdiction. All material presented in this report, unless specifically indicated otherwise, is under copyright to the Group. None of the material, nor its content, nor any copy of it, may be altered in any way, transmitted to, copied or distributed to any other party, without the prior written permission of the appropriate entity within the Group. In the case of certain products, the Bank or one of its related bodies corporate is or may be the only market maker. The Group, its agents, associates and clients have or have had long or short positions in the securities or other financial instruments referred to herein, and may at any time make purchases and/or sales in such interests or securities as principal or agent, including selling to or buying from clients on a principal basis and may engage in transactions in a manner inconsistent with this report.

European Investors: The Bank is registered in England (No. BR250) and authorised and regulated in the UK by the Financial Services Authority ("FSA"). This report does not purport to be a complete statement or summary. The products and services referred to in this report may put your capital at risk. Investments, persons, matters and services referred to in this report may not be regulated by the FSA. The Bank can clarify where FSA regulations apply.

All investors - Analyst Certification and Disclaimer: Each research analyst, primarily responsible for the content of this research report, in whole or in part, certifies that with respect to each security or issuer that the analyst covered in this report: (1) all of the views expressed accurately reflect his or her personal views about those securities or issuers; and (2) no part of his or her compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by that research analyst in the report. The analyst(s) responsible for the preparation of this report may interact with trading desk personnel, sales personnel and other constituencies for the purpose of gathering, synthesizing, and interpreting market information. Directors or employees of the Group may serve or may have served as officers or directors of the subject company of this report. The compensation of analysts who prepared this report is determined exclusively by research management and senior management (not including investment banking). No inducement has been or will be received by the Group from the subject of this report or its associates to undertake the research or make the recommendations. The research staff responsible for this report receive a salary and a bonus that is dependent on a number of factors including their performance and the overall financial performance of the Group, including its profits derived from investment banking, sales and trading revenue.

The Commonwealth Bank of Australia is a member of the Financial Services Compensation Scheme (FSCS) established under the Financial Services and Markets Act 2000. In respect of deposits with an office of the bank in the UK, payments under the scheme are limited to 100% of the first £35,000* per person (for claims against firms declared in default).

* The actual level of compensation you receive will depend on the basis of your claim. FSCS can only pay compensation for financial loss. Compensation limits are per person (per firm and type of claim).

Most depositors, including individuals and small firms, are covered and deposits denominated in all currencies are treated alike. Please note that the scheme does not apply to deposits held in Australian dollars, which are held with a branch of the bank in Australia. Deposits made with Commonwealth Bank offices overseas or with ASB Bank are not covered by the Financial Services Compensation Scheme. Commonwealth Bank complies with the Banking Code, a copy of which is available from the British Bankers Association.

Further details of the UK compensation scheme are available on request.

It should also be noted that in the unlikely event of the Bank's insolvency, assets available are first used to meet deposit liabilities in Australia in preference to meeting deposit liabilities held elsewhere, including the UK, where depositors may receive a lower pay-out.

We do not charge any fee for any reports provided. You may be charged fees in relation to the financial products the Bank provides. These are set out in the relevant Product Disclosure Statement. Our employees receive a salary and do not receive any commissions or fees. However, they may be eligible for a bonus payment from us based on a number of factors relating to their overall performance during the year. Our employees may also receive benefits such as tickets to sporting and cultural events, corporate promotional merchandise and other similar benefits. If you have a complaint, the Bank's dispute resolution process can be accessed on +44 (0)20 7710 3990.

Where relevant, unless otherwise noted, all data is sourced from Australian Bureau of Statistics material. The ABS material used in this report includes ABS catalogue number, name of publication, date of publication. www.abs.gov.au