ASB Bank says it has solved one major problem for users of internet banking — making a one-off payment online.
Bill payee details are usually loaded ahead of time, which suits regular bills such as phone or electricity, but makes one-off payments impossible. ASB's Fast Cheque unique payment system needs the bank account details for the receiving party, but once that is obtained users can enter a payment over the net without having to talk to a customer service person or visit a branch.
ASB Bank electronic banking manager Matthew Bartlett says the response to the service, which started on January 22, has been "incredible".
"We’ll look at removing the $10,000 limit in the coming months to open it up to small businesses and the like."