Keeping your account beneficiaries up-to-date is essential to ensure your funds are distributed according to your wishes. ANZ allows you to update beneficiaries on your accounts securely through Internet Banking or by contacting the bank directly.
Understanding Beneficiaries
A beneficiary is the person or entity you designate to receive the funds in your account after your death. You can set beneficiaries for accounts such as savings accounts, term deposits, and some transaction accounts.
Updating Beneficiaries via Internet Banking
Follow these steps to update your beneficiaries online:
- Log in to ANZ Internet Banking.
- Select the account you wish to update.
- Go to Profile & Settings > Beneficiaries.
- Edit the beneficiary details or add a new beneficiary.
- Confirm the changes and save.
Updating Beneficiaries by Phone or Branch
If you prefer, you can update beneficiaries by contacting ANZ directly:
- Phone: 13 13 14 (available 24/7)
- Visit a local ANZ branch and request a beneficiary update form
Required Information for Updating Beneficiaries
When updating beneficiaries, you may need to provide:
- Full name of the beneficiary
- Date of birth of the beneficiary
- Relationship to you
- Percentage of the account to allocate (if multiple beneficiaries)
Important Considerations
- Review your beneficiaries regularly, especially after life events such as marriage, divorce, or the birth of a child.
- Ensure the beneficiary details match official identification documents.
- Some accounts, like joint accounts, may require all account holders’ consent.
Contacting ANZ for Assistance
If you have questions about updating beneficiaries or need help:
- Phone: 13 13 14
- Website: ANZ Support Centre
- Visit your nearest branch for personalized support
Frequently Asked Questions (FAQ)
- Can I update multiple beneficiaries on one account?
- Yes, you can designate multiple beneficiaries and assign percentages of the account balance.
- Do I need to update beneficiaries after major life events?
- Yes, it is recommended to review and update beneficiaries after events such as marriage, divorce, or having children.
- Can joint account holders update beneficiaries?
- Yes, joint account updates typically require approval from all account holders.
- Is it secure to update beneficiaries online?
- Yes, ANZ Internet Banking uses secure encryption and two-factor authentication to protect your information.
- How long does it take for beneficiary updates to take effect?
- Updates are usually effective immediately after confirmation, but may take a few business days to process for some account types.