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We’re making changes to labels

We’d like to share some important information regarding changes to the labels used to display information about your account.

What’s changing?

From September 2021, we began changing the labels used to advise you of your account balances to make them simple and consistent. The labels we currently use (such as ‘Available Balance’, ‘Available Funds’, ‘Current Balance’ and ‘Account Balance’) to display your account balances within the ANZ App, Internet Banking, Phone Banking, ANZ ATMs, our websites and more, will be replaced with the following labels:  

  • Funds; and
  • Balance.

For instance, within Internet Banking, ‘Funds’ has replaced ‘Available Funds’, and ‘Balance’ has replaced ‘Current Balance’.

Please note that no changes will be made to your ANZ products as a result of the introduction of the new labels.

The change in labels will occur in stages. You may have noticed this change in ANZ Internet Banking, ANZ App and ANZ ATMs since September 2021 and our Branch and Phone Banking Systems from late November 2021. We’ll continue to introduce the new labels across all of your banking tools, so you may notice the change in some places before others.

See our definitions for the new labels and find out what it means to you.

New labels explained

We’ve introduced new definitions for ‘Funds’ and ‘Balance’:

Funds

Funds is indicative of the amount you may be able to use or, where applicable, redraw. It also includes any unused credit on arranged overdrafts, credit cards or other lines of credit where applicable. It generally reflects money in or out but:

  • some transactions that have occurred may not have updated the amount shown (e.g. Visa refunds onto your credit or debit card, cheques deposited, released authorisations); 
  • some transactions that have occurred may have updated the amount shown but:
     
    • are not yet processed (e.g. funds transfers in, transactions with a different effective date, authorisations to cover potential transactions and in some instances cheques deposited); or
    • are awaiting a decision (e.g. transactions which may be blocked or refused, accounts with blocks, disputed card transactions or accounts with insufficient money);
  • for loans eligible for redraw, recent transactions may not be able to be redrawn.

In addition, the amount shown may be subject to restrictions (e.g. card limits, transaction limits, amounts held subject to security, gambling sites), conditions and fees and charges.

If you proceed with a transaction which causes your account to go overdrawn or to exceed its credit limit, fees, charges and interest may apply in accordance with your account terms and conditions.

Balance

Balance is indicative of:

  • the amount in your account; or
  • for loans, credit cards, overdrafts, other lines of credit or if you are otherwise overdrawn, the amount you owe (that is, unless you have a positive balance). 

It generally reflects money in or out but:

  • some transactions that have occurred may not have updated the amount shown (e.g. Visa transactions or refunds using your credit or debit card); and 
  • some transactions that have occurred may have updated the amount shown but are not yet processed (e.g. cheques deposited, funds transfers in) or are awaiting a bank decision (e.g. transactions which may be blocked or refused, accounts with blocks or accounts with insufficient money). 

Finding the definitions

To make the new definitions easy to find, we'll include a link to this page within your banking tools. For example, an information icon and a link to this page will be displayed within your ANZ App – that way you’ll always have them handy if you need to double check what the new labels means.

Your questions answered

We’re only changing the words we use to display information about your accounts. No changes are being made to your ANZ products as a result of the introduction of the new labels.

For now, we recommend that you familiarise yourself with our new labels and their definitions so that you can understand the change.

The change in labels will occur in stages. You may have noticed this change in ANZ Internet Banking, ANZ App and ANZ ATMs since September 2021 and our Branch and Phone Banking Systems from late November 2021. We’ll continue to introduce the new labels across all of your banking tools, so you may notice the change in some places before others.

All current labels are being replaced in stages, for instance, ‘Funds’ has replaced ‘Available Balance’, and ‘Balance’ has replaced ‘Current Balance’. That is why you may not see this change right away, and you may see the new labels in some places before others. It’ll take us time to replace the labels across all areas. 

To keep you updated, we’ll continue to provide you with new information on this page as the changes begin to take place.

To make it easier to find, an information icon and a link to this page is available within your account in the ANZ App and Internet Banking. We’ve also added a link on your receipt if you’re using an ANZ ATM or an ANZ Branch over the counter service. You can also come back to this page to refresh your memory if you need to.

The label change will only apply to ANZ ATMs. If you’re using an ATM that doesn’t belong to ANZ, you may not see a change in the labels, such as ‘Available Balance’ and ‘Current Balance’, used to display information about your account.

Important information

The ANZ App is provided by Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. Super and Insurance (if available) are not provided by ANZ but entities which are not banks. ANZ does not guarantee them. This information is general in nature only and does not take into account your personal objectives, financial situation or needs. ANZ recommends that you read the ANZ App Terms and Conditions available here for iOS (PDF) and here for Android (PDF) and consider if this service is appropriate to you prior to making a decision to acquire or use the ANZ App.

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