ASIC-Inspired Offset Health Check

Inspired by ASIC 26-173MR and Report 837.

ASIC Customer Check Checklist

Check #1: Offset account has been opened and set up. Check #2: Offset account is linked to the correct home loan. Check #3: Account is receiving expected interest benefit (Math Check below).

Where to verify setup/linking in your banking app?

• CBA: NetBank / App > Select Home Loan > View Details > "Linked Offset Account".
• ANZ: ANZ App > Select Loan > Account Details > "Linked Accounts".
• Westpac: Westpac App > Home Loan > Features & Benefits > "Linked Offset".
• NAB: NAB App > Select Home Loan > "Offset Account Details".
• Macquarie: Macquarie App > Home Loan > "Connected Accounts".

Average Home Loan Balance

Average Offset Account Balance

Interest Rate (% p.a.)

Statement Cycle Days

Advanced Calculation Knobs (Tolerance, Leap Year, Mid-Cycle Linking)

Tolerance Buffer

Day-Count Basis

Days Offset Active in Cycle (Mid-Month Linking)

Actual Interest Charged (From Bank App)

CHECKLIST PENDING

Complete checks #1 & #2 above to run full audit.

Expected Interest (With Offset):	$0.00
Expected Interest (Without Offset):	$0.00
Variance ($ Delta vs Expected Offset):	$0.00
Variance (% Delta):	0.0%
Estimated Monthly Savings:	$0.00

Potential Failure Detected — Take Action

Select failure scenario identified in ASIC REP 837:

Next Steps: Submit via your bank's secure message app. If unresolved within 30 days, lodge a free dispute with AFCA or review Moneysmart Guidance.

Note & Limitations: This audit uses single-month average snapshot estimates. Exact daily bank calculations may vary due to mid-cycle balance changes, multiple linked offset accounts, non-standard statement cut-off dates, or leap-year day counts ($365$ vs $366$). This tool runs 100% locally in your browser. Anonymous usage metrics are tracked via Google Analytics for performance logging.