Cheques being phased out
All major banks will stop issuing and accepting cheques over the coming months. It is important your relevant staff and your customers are aware of the key dates.
Cheques ‘stop’ dates are:
- 31 May – ANZ
- 25 June – Westpac
- 30 June – BNZ
- 27 August – ASB
- Kiwibank stopped cheques in 2020.
All banks will not accept cheques from the respective bank from these dates.
For example: If you accept cheques from your clients from ANZ on 3 June (after the 31st May ceased date), ANZ will not honour that cheque and it will be returned to you. At that stage you will need to seek alternative payment from your client.
Also, if you issue any cheques, the other Banks will not accept them from the dates above.