New open-banking regulations confirm phased Dec 1 start

Fees and levies are prohibited under the new regulations. (Image: Depositphotos)

Thu, 16 Oct 2025

New regulations out today confirm New Zealand’s bigger banks must have their systems ready for open banking on Dec 1, 2025, as well as prohibiting banks from charging either customers or accredited requestors. Those unable to provide the service due to technical issues have until Jun 1, 2026, to resolve the issues.Kiwibank must be ready for open-banking payments by June 2026, and by December that year for other open banking, says the Ministry of Business, Innovation and Employment (MBIE).From Dec 1, 2025, all other banks and deposit...

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