As more New Zealanders are choosing to make and receive payments electronically, banks in New Zealand will no longer be issuing or accepting cheques. Each bank has a different date they will be making this change, do you know the end date of yours?
Have a look at the list below to see when your bank will no longer be accepting cheques:
- ASB - cheques will not be issued or processed after 27 August 2021
Find out more here
- BNZ - phase out cheques by the 01 July 2021
Find out more here
- Westpac - will be cheque-free after 25 June 2021
Find out more here
- Kiwibank - stopped issuing and accepting cheques as from 28 February 2020
Find out more here
- ANZ - has not been issuing cheques as from 31 May 2021
Find out more here
Bank’s will still honour cheques issued before these dates, subject to their terms and conditions, so make sure you are prepared!
Where to from here?
With cheques no longer being used, there are a few options we can recommend to ensure you still receive payment on time. Setting up Stripe or GoCardless makes receiving payment for your invoices on their due dates, effortless. If you are wanting to make payments, ask if they accept Stripe or Gocardless payments, otherwise you can continue to make electronic transfers.
If the thought of paying bills without cheques seems overwhelming, and even working online banking is scary then give us a call. This is a process we can help you through. We even organise and set-up payments for a lot of our clients, so that they don't have to! Give us a call on 07 870 1669 or email us office@varntige.co.nz
What do you think will be the next thing to be phased out in our every changing world of technology?
