Follow Up: ASB Tertiary Accounts


Last month I posted about what I hate about banks. I mentioned ASB was trying to convert me to a tertiary account. Here’s some clarification around that, courtesy of ASB:

  • Tertiary accounts are available to anyone going past normal schooling to study, regardless of whether they are over 18.
  • Headstart (youth) and the Tertiary account have the same fees – both have no transaction fees.ASB's fee table
  • When you turn 19 a Headstart account migrates to a Streamline account that has more fees. The reason for the campaign is to direct students to a Tertiary account if they’re eligible for one.

Damien Leng, Head of Transactions says “We try to outline the full services of the tertiary account so that you know these are available to you when you are 18” and “I think we could be clearer with what is available to under and over 18’s”, which is great.

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