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As part of our commitment to improving financial literacy and inclusion, ANZ has taken a number of steps to ensure we are providing simple, affordable and accessible products and services; and communication for our customers. Some examples include:
ANZ streamlined all Access transaction accounts in 2002 in response to customer feedback that our product range was too complex. Two transaction accounts with simplified and transparent pricing structures were introduced – Access Advantage and Access Select.
We are opening more branches and installing more ATMs in metropolitan, regional and rural communities. We intend to expand our network to make banking with ANZ as convenient as possible for our customers. Our plan is to open a further 80 branches in Australia’s high-growth areas over the next three years. Our call centre is also now open 24 hours a day, seven days a week.
ANZ has introduced a basic bank account - ANZ Access Basic, designed specifically for welfare benefit recipients and eligible customers. The ANZ Access Basic account features free day-to-day transactions through all ANZ channels and no monthly account service fee.
In addition to providing free banking to welfare benefit recipients, ANZ offers everyday banking concessions on our range of Access accounts to seniors, full-time students, those under 18 years and people with disabilities. Known as the ANZ Community Banking package, eligible customers benefit from no monthly fees and free ANZ transactions on one nominated ANZ transaction account.
 Find out more about ANZ’s Community Banking Package
ANZ is supporting farmers in difficult times via the ANZ drought Consolidation Loan (DCL). We offer farmers a chance to consolidate existing farm liabilities onto a long-term tailored loan facility. The DCL allows farmers to restructure the cash outgoings required to meet their financial obligations over the medium term and offer a consolidated line of credit on an interest-only basis.
In response to the findings of our Community Development Finance Research, ANZ has committed a further $3 million to its financial literacy and inclusion programs to assist the most vulnerable sections of the community in accessing mainstream financial services. We are working with community organisations and specialist financial services providers to develop financial literacy and inclusion programs including a new, easy access loans program tailored to the needs of people on low incomes who are currently using ‘payday’ lenders and other fringe credit providers.
We have redesigned and rewritten our customer brochures to make them simpler and easier to understand, based on the findings of ANZ’s financial literacy research, which demonstrated the importance of using simple and clear language when presenting financial information. In addition, in the interests of clarity for customers ANZ was the first to begin using comparison rates in 2003, and did so ahead of regulatory requirements.
ANZ has produced brochures and information on key financial issues to help customers better manage their money.
The Kick-start your financial fitness booklet was developed to help staff assist our customers. Just like getting physically fit, it is important that individuals take responsibility for their financial fitness. Kick-start provides practical advice on where to begin and includes information and tips on saving, managing debt and credit, investing, retirement planning and protecting assets. It is accompanied by a pull-out budget planner and a glossary of common financial terms. The booklet is available from all ANZ branches.
View the Kick-start booklet (PDF, 952kb)
We have developed specific credit education materials to help individuals better understand how to use and manage credit, as understanding and managing credit can be a problem for many members of the community.
The myanzcreditcard website and "How credit cards work (PDF, 340kb)" aim to help customers and the community become aware of how credit cards work, how to manage credit and the responsibilities that come with taking out a credit card.
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