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ANZ Saving Account Changes

Important information regarding changes to when interest is paid and when fees are charged to your ANZ savings account.

Effective on and from 31 October 2014, ANZ will pay interest and process fee charges if applicable, on the last business day of the calendar month for those ANZ saving account products listed below.

What products are impacted by this change?

Click on the applicable product tab to see frequently asked questions for each product.

What is changing?

We are making a change to when we pay interest on all ANZ Online Saver accounts.  Instead of ANZ paying interest on the anniversary date of your account opening date we will pay interest on the last business day of each calendar month.

When will this change occur?

Effective on and from 31 October 2014.

How will ANZ pay interest to my account in October during the transition of this change?

Prior to 31 October 2014, your ANZ Online Saver account will be paid interest as usual on the anniversary of your ANZ Online Saver account opening date. On Friday 31 October 2014, your ANZ Online Saver account will be paid any interest that is owed to you for the period from your last interest payment date. Every month thereafter you will always be paid interest on the last business day of each calendar month.  

What happens if I open a new ANZ Online Saver account in October 2014?

If you open an ANZ Online Saver account anytime from 1 October 2014, you will be paid interest on the last business day of the month. However, your first month of interest will be from your ANZ Online Saver account opening date up until the last business day of that calendar month.

What if I am currently being paid a bonus interest rate on my ANZ Online Saver account?

You will continue to receive any bonus interest rate on your ANZ Online Saver account, and will continue to earn that bonus interest rate for the bonus period stipulated in your letter of offer. 

Example: If you have had a bonus rate applied on the 15 September 2014, for a period of four (4) months (Bonus Period), your ANZ Online Saver account will be paid the bonus interest rate at the same time as you are paid the standard variable interest during the Bonus Period. Upon expiry of the Bonus Period on the 15 January 2015, you will be paid the final bonus interest payment that is owed to you.

What about monthly account service fees?

An ANZ Online Saver account does not incur monthly account service fees.

What happens if I open an ANZ Online Saver account on the last business day of the month?

If you open an ANZ Online Saver account on the last business day of the month, you will not be paid interest on that date. Your first interest payment date will be the last business day of the next calendar month.

What about my other ANZ saving account products?

From 31 October 2014, the following ANZ saving account products will be aligned to have the interest paid and fee charges applied, if applicable, to the last business day of the calendar month:

ANZ Progress Saver

ANZ Online Saver

ANZ Business Online Saver

ANZ Business Premium Saver

ANZ Premium Cash Management Account

ANZ Cash Investment Account.

For all other ANZ products, please refer to the applicable terms and conditions available on anz.com

What if I have my interest transferred to another third party account?

Interest will still be transferred to your nominated third party account on the new interest payment date at the end of the calendar month.

What if the last calendar day of the month falls on a non-business day?

From 31 October 2014, if the last calendar day of the month falls on a non-business day, such as a weekend, any interest will be paid to your ANZ Online Saver account on the last business day of that month.

For example, 30 November 2014 falls on a Sunday. The interest payment date in that month will be on Friday 28 November 2014. The remaining days within November 2014 will be included in the December 2014 interest payment.

How is interest calculated on my ANZ Online Saver account?

On and from 31 October 2014, your ANZ Online Saver account will be paid interest on the last business day of the calendar month.

Interest is calculated on a daily basis, based on the balance of your ANZ Online Saver Account at the end of the relevant day.

All ANZ Online Saver accounts will have interest calculated for the period from the last business day of the previous month (inclusive), to the day before the last business day of the current calendar month (inclusive).

Special rules apply for new ANZ Online Saver accounts opened on the last business day of the month.

Example: Your ANZ Online Saver account will be paid interest on the 31 October 2014. The next interest payment for your account will be Friday, 28 November 2014 as Sunday, 30 November is a non-business day.

The interest payment on 28 November 2014 will be the sum of the daily interest amounts calculated from the end of day balance on 31 October 2014 to the end of day balance on 27 November 2014.

What is changing?

We are making a change to when we pay interest on all ANZ Business Online Saver accounts.  Instead of ANZ paying interest on the anniversary date of your account opening date we will pay interest on the last business day of each calendar month.

When will this change occur?

Effective on and from 31 October 2014.

How will ANZ pay interest to my account in October during the transition of this change?

Prior to 31 October 2014, your ANZ Business Online Saver account will be paid interest as usual on the anniversary of your ANZ Business Online Saver account opening date. On Friday 31 October 2014, your ANZ Business Online Saver account will be paid any interest that is owed to you for the period from your last interest payment date. Every month thereafter you will always be paid interest on the last business day of each calendar month.

What happens if I open a new ANZ Business Online Saver account in October 2014?

If you open an ANZ Business Online Saver account anytime from 1 October 2014, you will be paid interest on the last business day of the month. However, your first month of interest will be from your ANZ Business Online Saver account opening date up until the last business day of that calendar month.

What if my account is on a promotional rate?

Your account will earn bonus interest as stipulated in your letter of offer. 

Example: If you have a bonus rate applied on the 12 Nov 2014, with the bonus rate to be paid until the 31 Dec 2014, your Business Online Saver account will be paid bonus interest at the same time as you are paid standard variable interest up until the date of expiry. Upon offer expiry on the 31 December 2014 you will be paid the final bonus interest payment that is owed to you.

12 Nov 2014 (Wed) – Bonus rate is applied and effective from this date

28 Nov 2014 (Fri) –Standard variable interest for the month + bonus interest from the 12 Nov is paid to your account on the last business day of the calendar month.

31 Dec 2014 (Wed) – Standard variable interest for the month + bonus interest from the 28 Nov is paid to your account on the last business day of the calendar month.

30 Jan 2015 (Fri) Standard variable interest for the month is paid to your account on the last business day of the calendar month.

What about monthly account service fees?

An ANZ Business Online Saver account does not incur monthly account service fees.

What happens if I open an ANZ Business Online Saver account on the last business day of the month?

If you open an ANZ Business Online Saver account on the last business day of the month, you will not be paid interest on that date. Your first interest payment date will be the last business day of the next calendar month.

What about my other ANZ products?

From October 31 2014 the following products will pay interest and fees will be charged if applicable, on the last business day of the calendar month;

ANZ Progress Saver

ANZ Online Saver

ANZ Business Online Saver

ANZ Business Premium Saver

ANZ Premium Cash Management Account

ANZ Cash Investment Account.

For all other ANZ products, please refer to the applicable terms and conditions available on anz.com 

What if I have my interest transferred to another account?

Interest will still be transferred to your nominated third party account on the new interest payment date at the end of the calendar month.

What if the last calendar day of the month falls on a non-business day?

From 31 October 2014, if the last calendar day of the month falls on a non-business day, such as a weekend, any interest will be paid to your ANZ Business Online Saver account on the last business day of that month.

For example, 30 November 2014 falls on a Sunday. The interest payment date in that month will be on Friday 28 November 2014. The remaining days within November 2014 will be included in the December 2014 interest payment.

How is interest calculated on my ANZ Business Online Saver account?

On and from 31 October 2014, your ANZ Business Online Saver account will be paid interest on the last business day of the calendar month.

Interest is calculated on a daily basis, based on the balance of your ANZ Business Online Saver Account at the end of the relevant day.

All ANZ Business Online Saver accounts will have interest calculated for the period from the last business day of the previous month (inclusive), to the day before the last business day of the current calendar month (inclusive).

Special rules apply for new ANZ Business Online Saver accounts opened on the last business day of the month.

Example: Your ANZ Business Online Saver account will be paid interest on the 31 October 2014. The next interest payment for your account will be Friday, 28 November 2014 as Sunday, 30 November is a non-business day.

The interest payment on 28 November 2014 will be the sum of the daily interest amounts calculated from the end of day balance on 31 October 2014 to the end of day balance on 27 November 2014.

What is changing?

Effective on and from 31 October 2014 we are making a change to when we pay interest and charge fees on all ANZ Business Premium Saver accounts.  Instead of ANZ paying interest and charging fees on the anniversary date of your ANZ Business Premium Saver account opening date, we will pay interest and charge fees on the last business day of each calendar month.

When will this change occur?

Effective on and from 31 October 2014.

When will ANZ pay interest and charge fees prior to 31 October 2014?

Prior to 31 October 2014, ANZ will pay interest and charge fees to your ANZ Business Premium Saver account as usual on the anniversary of your ANZ Business Premium Saver account opening date.

If you open your ANZ Business Premium Saver account anytime from 1 October 2014, you will always be paid interest and charged fees on the last business day of the month.

How will ANZ pay interest to my ANZ Business Premium Saver account in October during the transition of this change?

Starting on 31 October 2014, the interest payment date for your ANZ Business Premium Saver account will be the last business day of the calendar month.

Prior to 31 October 2014, your ANZ Business Premium Saver account will be paid as usual on the anniversary of your ANZ Business Premium Saver account opening date. On Friday 31 October 2014, your ANZ Business Premium Saver account will be paid any interest that is owed to you for the period from your last interest payment date. Every month thereafter, you will be paid interest on the last business day of each calendar month.

When will ANZ charge fees to my ANZ Business Premium Saver account in October 2014 during the transition of this change?

Your ANZ Business Premium Saver account gives five (5) fee free transactions each month. Any additional ANZ transactions will incur a fee as outlined in the ANZ Business Banking Account Fees and Charges (PDF 96kB).

During the month of October 2014, your ANZ Business Premium Saver account will be charged any fees as usual on the anniversary of your Business Premium Saver account opening date for the month prior.

On the 31 October 2014, your ANZ Business Premium Saver account will process any fees from your last fee charge date, and a new month will commence.

Every month thereafter, you will always be charged any fees on the last business day of the calendar month.

What if my account is on a promotional rate?

Your account will earn bonus interest as stipulated in your letter of offer.

Example: If you have a bonus rate applied on the 12 Nov 2014, with the bonus rate to be paid until the 31 Dec 2014, your Business Premium Saver account will be paid bonus interest at the same time as you are paid standard variable interest up until the date of expiry. Upon offer expiry on the 31 December 2014 you will be paid the final bonus interest payment that is owed to you.

12 Nov 2014 (Wed) – Bonus rate is applied and effective from this date

28 Nov 2014 (Fri) –Standard variable interest for the month + bonus interest from the 12 Nov is paid to your account on the last business day of the calendar month.

31 Dec 2014 (Wed) – Standard variable interest for the month + bonus interest from the 28 Nov is paid to your account on the last business day of the calendar month.

30 Jan 2015 (Fri) Standard variable interest for the month is paid to your account on the last business day of the calendar month.

What happens when I open a new ANZ Business Premium Saver account from October 2014?

If you open your ANZ Business Premium Saver account anytime from 1 October 2014, you will always be paid interest and fees will be charged on the last business day of the month.

What happens if I open an ANZ Business Premium Saver Account on the last business day of the month?

If you open an ANZ Business Premium Saver account on the last business day of the month, you will not be paid interest or charged fees on that date. The first time interest or fees will be processed to your ANZ Business Premium Saver account will be the last business day of the next calendar month.

What about my other ANZ products?

From October 31 2014 the following products will be aligned to have interest and fees, if applicable, processed on the last business day of the calendar month;

ANZ Progress Saver (changed on 30 April 2014)

ANZ Online Saver

ANZ Business Online Saver

ANZ Business Premium Saver

ANZ Premium Cash Management Account

ANZ Cash Investment Account.

For all other ANZ products, please refer to the applicable terms and conditions available on anz.com

What if I have my interest transferred to another account?

Interest will still be transferred to this nominated third party account on the new interest payment date at the end of the calendar month.

What if the last calendar day of the month falls on a non-business day?

From 31 October 2014, if the last calendar day of the month falls on a non-business day, such as a weekend, any interest will be paid to your ANZ Business Premium Saver account on the last business day of that month.

For example, 30 November 2014 falls on a Sunday. The interest payment date in that month will be on Friday 28 November 2014. The remaining days within November 2014 will be included in the December 2014 interest payment.

How is interest calculated on my ANZ Business Premium Saver account?

On and from 31 October 2014, your ANZ Business Premium Saver account will be paid interest on the last business day of the calendar month.

Interest is calculated on a daily basis, based on the balance of your ANZ Business Premium Saver Account at the end of the relevant day.

All ANZ Business Premium Saver accounts will have interest calculated for the period from the last business day of the previous month (inclusive), to the day before the last business day of the current calendar month (inclusive).

Special rules apply for new ANZ Business Premium Saver accounts opened on the last business day of the month.

Example: Your ANZ Business Premium Saver account will be paid interest on the 31 October 2014. The next interest payment for your account will be Friday, 28 November 2014, as Sunday, 30 November 2014 is a non-business day.

The interest payment on 28 November 2014 will be the sum of the daily interest amounts calculated from the end of day balance on 31 October 2014 to the end of day balance on 27 November 2014.

What is changing?

Effective on and from 31 October 2014 we are making a change to when we pay interest and charge fees on all ANZ Premium Cash Management accounts. Instead of ANZ paying interest and charging fees on the anniversary date of your ANZ Premium Cash Management account opening date, we will pay interest and charge fees on the last business day of each calendar month.

When will this change occur?

Effective on and from 31 October 2014.

When will ANZ pay interest and charge fees prior to 31 October 2014?

Prior to 31 October 2014, ANZ will pay interest and charge fees to your ANZ Premium Cash Management account as usual on the anniversary of your ANZ Premium Cash Management account opening date.

If you open your ANZ Premium Cash Management account anytime from 1 October 2014, you will always be paid interest and charged fees on the last business day of the month.

How will ANZ pay interest to my ANZ Premium Cash Management account in October during the transition of this change?

Starting on 31 October 2014, the interest payment date for your ANZ Premium Cash Management account will be the last business day of the calendar month.

Prior to 31 October 2014, your ANZ Premium Cash Management account will be paid as usual on the anniversary of your ANZ Premium Cash Management account opening date. On Friday 31 October 2014, your ANZ Premium Cash Management account will be paid any interest that is owed to you for the period from your last interest payment date. Every month thereafter, you will be paid interest on the last business day of each calendar month.

When will ANZ charge fees to my ANZ Premium Cash Management account in October 2014 during the transition of this change?

Your ANZ Premium Cash Management account gives you unlimited Internet Banking transactions and five (5) fee free transactions each month. Any additional ANZ transactions will incur a fee as outlined in the ANZ Personal Banking Account Fees and Charges (PDF 132kB)

During the month of October 2014, your ANZ Premium Cash Management account will be charged any fees as usual on the anniversary of your ANZ Premium Cash Management account opening date for the month prior.

On the 31 October 2014, your ANZ Premium Cash Management account will cycle again and process any fees from your last fee charge date.

From 1 November 2014, you will have an additional five (5) fee free transactions until the last business day that calendar month. 

Every month thereafter, you will always be charged any fees on the last business day of the calendar month.

Example: The 15th of each month is your ANZ Premium Cash Management account cycle date based on the account opening date. In the month of October 2014, your ANZ Premium Cash Management account will be charged fees if applicable, based on the transactions made on your account from 16 September 2014 until the end of day 15 October 2014. From 16 October 2014, you will have an additional five (5) free transactions up until the end of day 31 October 2014, when this change takes effect.

From 1 November 2014, all ANZ Premium Cash Management accounts will commence a new fee cycle, which will be processed on the last business day of the month.

What happens when I open a new ANZ Premium Cash Management account from October 2014?

If you open your ANZ Premium Cash Management account anytime from 1 October 2014, you will always be paid interest and fees will be charged on the last business day of the month.

In your first month, interest and fee charges will be from your ANZ Premium Cash Management account opening date up until the last business day of that calendar month.

What happens if I open an ANZ Premium Cash Management Account on the last business day of the month?

If you open an ANZ Premium Cash Management account on the last business day of the month, you will not be paid interest or charged fees on that date. The first time interest or fees will be processed to your ANZ Premium Cash Management account will be the last business day of the next calendar month.

What about my other ANZ saving account products?

From 31 October 2014, the following ANZ saving account products will be aligned to have the interest paid and fees applied, if applicable, to the last business day of the calendar month:

ANZ Progress Saver

ANZ Online Saver

ANZ Business Online Saver

ANZ Business Premium Saver

ANZ Premium Cash Management Account

ANZ Cash Investment Account.

For all other ANZ products, please refer to the applicable terms and conditions available on anz.com

What if I have my interest transferred to another third party account? 

Interest will still be transferred to this nominated third party account on the new interest payment date at the end of the calendar month.

What if the last calendar day of the month falls on a non-business day?

From 31 October 2014, if the last calendar day of the month falls on a non-business day, such as a weekend, any interest will be paid to your ANZ Premium Cash Management account on the last business day of that month.

For example, 30 November 2014 falls on a Sunday. The interest payment date in that month will be on Friday 28 November 2014. The remaining days within November 2014 will be included in the December 2014 interest payment.

How is interest calculated on my ANZ Premium Cash Management account?

On and from 31 October 2014, your ANZ Premium Cash Management account will be paid interest on the last business day of the calendar month.

Interest is calculated on a daily basis, based on the balance of your ANZ Premium Cash Management Account at the end of the relevant day.

All ANZ Premium Cash Management accounts will have interest calculated for the period from the last business day of the previous month (inclusive), to the day before the last business day of the current calendar month (inclusive).

Special rules apply for new ANZ Premium Cash Management accounts opened on the last business day of the month.

Example: Your ANZ Premium Cash Management account will be paid interest on the 31 October 2014. The next interest payment for your account will be Friday, 28 November 2014, as Sunday, 30 November 2014 is a non-business day.

The interest payment on 28 November 2014 will be the sum of the daily interest amounts calculated from the end of day balance on 31 October 2014 to the end of day balance on 27 November 2014.

What is changing?

We are making a change to when we pay interest on all ANZ Cash Investment Accounts.  Instead of ANZ paying interest on the anniversary date of your account opening date we will pay interest on the last business day of each calendar month.

When will this change occur?

Effective on and from 31 October 2014.

How will ANZ pay interest to my account in October during the transition of this change?

Prior to 31 October 2014, your ANZ Cash Investment Account will be paid interest as usual on the anniversary of your account opening date. On Friday 31 October 2014, your ANZ Cash Investment Account will be paid any interest that is owed to you for the period from your last interest payment date. Every month thereafter you will always be paid interest on the last business day of each calendar month.

What happens if I open a new ANZ Cash Investment Account in October 2014?

If you open an ANZ Cash Investment Account anytime from 1 October 2014, you will be paid interest on the last business day of the month. However, your first month of interest will be from your ANZ Cash Investment Account opening date up until the last business day of that calendar month.

What about monthly account service fees? 

An ANZ Cash Investment Account does not incur monthly account service fees.

What happens if I open an ANZ Cash Investment Account on the last business day of the month?

If you open an ANZ Cash Investment Account on the last business day of the month, you will not be paid interest on that date. Your first interest payment date will be the last business day of the next calendar month.

What about my other ANZ saving account products?

From 31 October 2014, the following ANZ saving account products will be aligned to have the interest paid and fee charges applied, if applicable, to the last business day of the calendar month:

ANZ Progress Saver

ANZ Online Saver

ANZ Business Online Saver

ANZ Business Premium Saver

ANZ Premium Cash Management Account

ANZ Cash Investment Account.

For all other ANZ products, please refer to the applicable terms and conditions available on anz.com

What if I have my interest transferred to another third party account?

Interest will still be transferred to your nominated third party account on the new interest payment date at the end of the calendar month.

What if the last calendar day of the month falls on a non-business day?

From 31 October 2014, if the last calendar day of the month falls on a non-business day, such as a weekend, any interest will be paid to your ANZ Cash Investment Account on the last business day of that month.

For example, 30 November 2014 falls on a Sunday. The interest payment date in that month will be on Friday 28 November 2014. The remaining days within November 2014 will be included in the December 2014 interest payment.

How is interest calculated on my ANZ Cash Investment Account?

On and from 31 October 2014, your ANZ Cash Investment Account will be paid interest on the last business day of the calendar month.

Interest is calculated on a daily basis, based on the balance of your ANZ Cash Investment Account at the end of the relevant day.

All ANZ Cash Investment Accounts will have interest calculated for the period from the last business day of the previous month (inclusive), to the day before the last business day of the current calendar month (inclusive).

Special rules apply for new ANZ Cash Investment Account opened on the last business day of the month.

Example: Your ANZ Cash Investment Account will be paid interest on the 31 October 2014. The next interest payment for your account will be Friday, 28 November 2014 as Sunday, 30 November is a non-business day.

The interest payment on 28 November 2014 will be the sum of the daily interest amounts calculated from the end of day balance on 31 October 2014 to the end of day balance on 27 November 2014.

Any further questions?

If you have any questions about these changes to your account, please contact us on 13 13 14.

Any further questions?

If you have any questions about these changes to your account, please contact us on 13 13 14.