365-day payments processing coming next April

Payments processing is set to get more regular.

Wed, 15 Jun 2022

Payments NZ has announced that from April 22, 2023, payments will be processed 365 days a year, instead of the current Monday to Friday model.This means that most electronic payments, including automatic payments, Eftpos transactions, bill payments and direct debits, will be able to occur on weekends and public holidays between all banks that use the Bulk Electronic Clearing System.The banks that use the system are ANZ, ASB, Bank of China, BNZ, Citi, HSBC, ICBC, Kiwibank, TSB and Westpac.High-value transactions and international payments are no...

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