Do cheap interest rates equate to smart finance structures?
We all understand that buying cheap does not always equate to the best value purchase but when it comes to finance, the interest rate is often the primary focus and this can lead to poor customer outcomes. This is because finance can be complex and other more important factors like structure, terms and conditions can have a much greater impact on cash flow than interest rate.
It’s very common to see businesses with cash flow issues that have poor asset finance structures as the primary cause for this. This is because it is now hard for Customers to make a value judgement when choosing a finance provider as finance has become a commoditized product where the interest rate is the perceived point of differentiation.
🧩😏 Riddle me this, Neighbours…
I am an odd number. Take away a letter and I become even. What number am I?
Do you think you know the answer?
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Scam Alert: Bank cold calls
ASB is warning customers about reports of cold calls from scammers claiming to be from ASB. These scammers are trying to obtain personal information, including usernames, dates of birth, and verification codes sent to your mobile phone.
🛡️ The "Caller Check" Test
If you get a call from someone claiming to be from ASB and you’re unsure, just ask them for a Caller Check. You will then be able to verify the call through the app.
Remember, banks will:
❌ Never ask for your banking passwords, PINs, or verification codes
❌ Never need to know your full credit card number – especially the CVC
❌ Never ask you to download software or remotely access your device
❌ Never ask you to purchase gift cards or transfer funds.
If you have received a phone call and think your account has been compromised, call ASB on 0800 ASB FRAUD (0800 272 372), or visit your local branch.
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