Cheques, as a method of payment, are on their last legs. Soon they'll be found only in dusty drawers and museums.
You can no longer use a cheque with Inland Revenue, NZ Post, ACC or Kiwibank. Over the next few months, ANZ, BNZ and Westpac won't accept cheques, and ASB has said it will follow.
What does this mean to you?
When paying your account with us, you will no longer be able to do so by cheque after 30 April this year. We accept payment of our fees by electronic banking (our preferred means of payment) and we also accept payment by credit card for our fees, but not for anything else. We will also accept payment by cash.
If you do not have access to internet banking and foresee problems in making payment because of that, please contact our credit controller to discuss options. You should also make contact with your bank to discuss payment options available to you.
If you are a business client, you will face the same issue of your bank no longer accepting cheques. We recommend that you review your terms of trade and any payment terms on invoices or other accounts correspondence, your website and similar, and update those to remove reference to cheques.
Please contact us for assistance with reviewing these terms.