ASB Bank International Money Transfer: Fees, Time, Limit, Rates, Code

asb international transfer

An Auckland Savings Bank or ASB international transfer can be easily made through the bank’s internet banking facility, FastNet Classic. Whether you are an immigrant in New Zealand or a study in New Zealand student, you can make international transfers through FastNet Internet Banking feature or by visiting a physical branch of this financial entity. ASB Bank provides a seamless and secure platform to facilitate your international money transfers. It usually takes 24 to 48 business hours to send money internationally. In case of any delay beyond 10 business days, senders can easily reach out to the concerned bank officials. 

Let us now explore the features, benefits, and practical tips for making international transfers with ASB Bank. This will help you navigate the world of cross-border transactions with ease.

How to Make ASB International Transfer?

After signing up for Netcode, one can follow these steps to send money internationally via ASB:

  • Log in to ASB’s FastNet Classic Internet Banking
  • Select the ‘Make a Payment’ option and click on it
  • Choose the ‘International Transfer’ tab
  • Select the conversion option of your choice
  • Choose the account from which the international money transfer is to be made
  • Enter the amount to be sent internationally
  • Choose the currency in which you want it to be converted
  • Now, select the ‘New International Transfers Quote’
  • Click on the ‘Next’ button
  • Enter the bank details of the beneficiary like name, SWIFT code, and account number of the destination bank. 
  • Choose the person, whether the sender or the recipient, who will pay other bank charges. 
  • Re-check all the information and click on the ‘Submit’ tab to continue
  • Now select the ‘Yes’ button to finalise the overseas money transfer
  • In the last step, the sender needs to complete two-step verification and enter the Netcode. Now, click on ‘Submit’ to conclude the transaction.

Also Read: Same Currency International Transfer

ASB International Transfer Netcode

To make an ASB international transfer, it is mandatory to sign up for a Netcode. To sign up for this code, a customer must follow these steps:

  • Visit the physical branch of ASB along with a valid photo ID. Or, any study abroad student or international citizen can call  +64 9 306 3000.
  • After this, one must give accurate answers to all questions to ensure their identity. 
  • After identification, ASB will ask for the mobile number of the customer to send the Netcode.
  • When the registration is complete, one can start receiving Netcodes on the registered immediately. 

Also Read: What is the Difference between IBAN and SWIFT Code?

ASB International Money Transfer Fees

A customer needs to pay NZD 5 (INR 255) to make an ASB international transfer through FastNet Classic Internet banking. However, destination banks charge additional fees on the transfers and these charges may vary. Destination banks deduct a certain amount from the transferred funds, so the recipient will receive an amount lower than the original amount. 

ASB International Transfer Limit 

ASB has put certain limits on international transfers. It has different limits on overseas transfers from an NZD account and on international transfers from an FCA (Foreign Currency Account).

International Transfer From an NZD Account

Here are daily transaction limits for distinct days and times of the day:

  • Monday to Friday during business hours:  NZD 100,000 (INR 51.05 lakh) (inclusive of NZD 15 (INR 765) fee)
  • Monday to Friday after business hours: NZD 60,000 (INR 30.63 lakh) (inclusive of NZD 15 (INR 765) fee)
  • Saturday and Sunday: NZD 60,000 (INR 30.63 lakh) (inclusive of NZD 15 (INR 765) fee)

International Transfer From an FCA Account

Here are daily transaction limits for distinct days and times of the day:

  • Monday to Friday during business hours:  NZD 100,000 (INR 51.05 lakh) (inclusive of NZD 15 fee)
  • Monday to Friday after business hours: NZD 60,000 (INR 30.63 lakh) (inclusive of NZD 15 (INR 765) fee)
  • Saturday and Sunday: NZD 60,000 (INR 30.63 lakh) (inclusive of NZD 15 (INR 765) fee)

Also Read: What is Multi-Currency Account and How Is It Useful to Study Abroad Aspirants

ASB International Transfer Processing Time

This New Zealand-based bank usually takes one or two business days for an ASB international transfer. However, this processing time window is not fixed for all overseas transactions. According to the guidelines of this financial institution, if the recipient fails to receive the transferred funds within 10 business days, the sender can request a search. To initiate a search, the sender must connect with the grievance redressal team of ASB at 0800 803 804. Or, the sender can visit the nearby branch or send a message request via FastNet Classic ‘My Messages’.

The sender must submit the below-mentioned details to initiate the search for undelivered funds:

  • The transferred amount
  • The currency in which the transaction was made
  • The reference number on the international money transfer (IMT) receipt 
  • Name, address, and bank details of the recipient

Also Read: How to Transfer Money to a Foreign University?

FAQs

1. Can I send money overseas with ASB?

Yes. Auckland Savings Bank allows international money transfer services via FastNet Classic Internet Banking and its physical branches.

2. What is the daily international transfer limit for ASB?

If you are sending funds from an NZD account or an FCA, you can send NZD 100,000 (INR 51.05 lakh) from Monday to Friday, during working hours. After working hours on these days, you can send NZD 60,000 (INR 30.63 lakh). Furthermore, on Saturdays and Sundays, you can send NZD 60,000 (INR 30.63 lakh) across borders.

3. How long does ASB international money transfer take?

It usually takes around 1 to 2 days. However, sometimes time duration may vary. 

 

To avail of study abroad loans, make international money transfers, and engage in other baking services, stay in tune with Fly Finance. To get end-to-end guidance, connect with our finance experts at 1800 572 126. 

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