Banking 7-day processing

You will have seen that major banks are now processing banking transactions 7 days of the week effective from 26 May 2023. Participating banks include ANZ, ASB, BNZ, Bank of China, ICBC, Citi, HSBC, Kiwibank, TSB and Westpac along with The Co-Operative Bank and SBS. Payments include credit and debit card transactions, automatic payments, bill payments, direct debits and direct credit transactions.

The Inland Revenue Department have said that they will not change their payment processing. The current processing includes

• Due dates for payments will move to the following business day if they fall on a weekend or public holiday.

• Working for Families credit payments will be paid early if they fall on a public holiday.

• Bank processing will not be sent on weekends or public holidays, these will fall to the next working day.

For payments made to the Inland Revenue Department, the effective date of the bank transfer will be the actual date, so if it is on a weekend or public holiday and the bank has processed it on that day then that will be the day that’s reported.