Banks shift to 7-day processing
New Zealand payment systems have extended their processing to 365 days a year from 26 May 2023. This will enable businesses to make and receive electronic domestic payments, across different banks, seven days a week.
From May 26, transactions in New Zealand dollars between all of New Zealand’s participating banks will be processed every day. Participating banks are ANZ, ASB, BNZ, Bank of China, ICBC, Citi, HSBC, Kiwibank, TSB and Westpac.
Payments include credit card, debit card, automatic payments, bill payments, direct debit or direct credit transactions. Payments will still be settled between banks every 30 to 60 minutes, 16 hours a day.
Read more below at participating banks: