better banking

Payment systems


Mar 2016

ATMs are a quick and convenient way to withdraw and deposit cash.  This guide covers some of the key things you need to know about using ATMs.

Cheque clearance

Mar 2015

Some bank customers don’t realise it can take three to five working days for a cheque to clear after being deposited, and even longer for overseas cheques.

Direct debits

Mar 2015

When you arrange a direct debit, you are essentially giving someone else permission to take funds directly from your bank account.  For example, you arrange a direct debit with your power or telecommunications company so your monthly bill payment can be taken automatically from your account without having to arrange it each time.

A direct debit authority is your instruction to your bank or another bank to accept debits from your account by another person or business (known as the direct debit initiator). You should be wary of any business that asks you to sign multiple or blank direct debit forms. If you do this, the business can submit a new direct debit authority after you have cancelled your existing one.

Foreign cheques

Dec 2016

Banks can accept a deposit of a foreign cheque drawn on an overseas bank. However, they don’t have to, and they may not accept foreign cheques from all countries. You should check with your bank before accepting a foreign cheque as means of payment.

Mistaken payments

Dec 2014

With so many payments made every day in the New Zealand banking system, it is easy to make mistakes. This quick guide outlines what you can do if you have made a payment to the wrong account, as well as your rights if you have received a payment that wasn't meant for you.

Mobile banking

Mar 2016

More and more people are using mobile phones to do their banking. This quick guide outlines some of the mobile banking services currently available and gives some security tips.

Payment processing

Oct 2016

We sometimes get complaints about how banks process payments. As we’re not an industry regulator, we don’t have the power to set rules about how banks process payments. The scheme can, however, consider complaints if banks make mistakes processing payments, like wrongly delaying or failing to make a payment, repeating payments, or giving the wrong information about payments. 

Telegraphic transfers

Oct 2016

Telegraphic transfers are a convenient and safe way you can pay money to people overseas. Before using this form of payment, it is important you know what is involved and potential costs.