ANZ Plus achieves rapid growth with $1 billion in deposits

Banking & Financial Services
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David Bricklebank General Counsel and Company Secretary | Australia and New Zealand Banking Group

ANZ has announced that its new digital banking platform, ANZ Plus, has reached $1 billion in deposits. This achievement makes it the fastest new digital bank in Australia to reach this milestone. The platform now serves over 55,000 customers.

ANZ Plus offers a competitive savings rate of 3.25%, attracting thousands of new customers weekly. Notably, more than 25% of these are new to the bank.

Starting this week, ANZ Plus will allow customers to use an international passport for identification when opening an account. Setting up an account is designed to be quick and straightforward, requiring only a passport or Australian driver's license and a selfie.

Peter Dalton, Managing Director of Design and Delivery ANZx at ANZ, stated: “We’re receiving encouraging feedback that key features of ANZ Plus, such as the multi-goal saving account, are helping people to better manage their money securely and save regularly towards their goals."

He also noted the expansion in customer identification options: “We’re pleased that’ll we’ll soon be able to extend our offering to people in Australia with international passports giving them the opportunity to access the benefits of ANZ Plus, including our great savings rate."

The platform's features include earning interest on balances in the ANZ Save account without conditions like maintaining a minimum balance or monthly deposits. The interest rate applies to balances under $250,000.

Further information can be found on their website.