ANZ

The ANZ website contains the following categories:

The About ANZ category contains the following sections:

Customers

Responsible Consumer Lending

While most households repay their debts comfortably, consumer debt is rising and high living costs in Australia are placing pressure on many households.

In this environment, having robust lending guidelines which ensure we lend only to those who have the capacity to repay their debt - should be a minimum standard for any lender

ANZ has gone further, taken voluntary steps over the last three years to ensure our most vulnerable customers are protected from inappropriate offers of credit and that those who find themselves in financial difficulty receive the right support.

Public commitments

ANZ was the first bank in Australia to introduce public responsible lending commitments as part of our Customer Charter. Under these commitments, ANZ:

  • does not offer a credit limit increase offer to customers with a recent poor credit performance or who are struggling to meet repayments on their ANZ credit card (even if they have not defaulted on their account);
  • does not offer a credit card limit increase to a customer we know is on a fixed income (e.g. receiving a government pension);
  • with any credit limit increase offer:
    • outlines how much the minimum monthly payment would increase if the offer was accepted;
    • recommends the customer reject the offer if their personal circumstances have changed; and
    • includes information about how to request a lower limit.

These promises respond to research we conducted into financial difficulty which found that some customers can accept these offers without fully considering whether they can afford the extra credit.

ANZ's performance on these promises is independently audited every 12 months, along with the other promises contained in the Customer Charter.

Customer Connect - supporting customers in difficulty

There will always be some customers who may, due to changed circumstances and other factors, find themselves in financial difficulty.

Providing the right support and guidance to those customers will strengthen their relationship with ANZ and importantly help to ensure we control the level of credit losses to our business.

ANZ's Customer Connect program is designed to make it as easy as possible for customers struggling with their credit to get the help they need:

  1. Spotting customers who need help: Our staff have been trained to proactively identify customers who may benefit from more time and flexibility to manage their finances during a period of financial instability or difficulty. We no longer wait for the customer to ask for help.

  2. No need to prove hardship: We do not require a customer to demonstrate why they are in hardship (e.g. through job loss or illness) before they can access assistance, previously a barrier for many customers.

  3. Tailoring plans and cutting red tape: : Where possible, staff will tailor temporary repayment arrangements based on what our customers can afford to pay at the time. Payment plans will be finalised over the phone wherever possible.

Read more about how Customer Connect was developed

Information to plan repayments

The ANZ Credit Card Payoff Calculator offers our customers information to help them plan their credit card payments. It allows customers to calculate:

  • the monthly payment they would need to make on their credit card account to pay off their balance within a nominated time frame; or
  • the time it would take to pay off their balance with a nominated monthly payment.