Got any Kiwibank cheques hanging around? Time to dig them out

Monday, 3 February 2020

Over 1800 Kiwibank customers have been helped to move away from cheque writing.

Kiwibank is encouraging customers to bank any remaining cheques they might have before it goes cheque-free from the end of the month.

After announcing last May that it was phasing out cheque acceptance, the bank says it's seen a steady decline in the number of customers writing cheques.

Kiwibank is no longer accepting cheques from February 28.

But with only four weeks left, the bank is urging people to make any cheque-related deposits before February 28.

After that, the bank's customers will need to contact the cheque's issuer and ask them to either pay by cash or or make an electronic payment to a bank account.

* Kiwibank to ditch cheques, risks backlash**

Kiwibank is phasing out cheques, but some dividends and some foreign payments are still made the old-fashioned way.

'If you receive regular payments by cheque, we suggest you contact the issuer to set up a direct payment,' Kiwibank chief customer officer Mark Stephens said.

Cheque use has declined significantly as customers move to faster, electronic forms of banking, although most major banks have indicated they will still process them, for a fee.

BNZ announced last July that it would no longer send out cheque books automatically but they were still available on request.

And Inland Revenue stopped accepting post-dated cheques for tax payments last February.

Over 1,800 customers had worked with Kiwibank's staff to move to other forms of payment options, Stephens said.

'Over the nine-month transition period we've contacted all known cheque users and we continue to work with those still using them to ensure they are ready for the change.'

However, there were those who might receive a once-a-year bonus or dividend payment by cheque.

Stephens said the bank was confident large cheque issuers were aware of its move, with other large organisations increasingly following suit.

'We'd like to remind our customers cheques are not legal tender in New Zealand, they are instead a method of payment.

'If you owe someone money or want to pay for some goods or services, the receiver is not obliged to accept a cheque. Cash, as in notes or coins, are the only legal tender in Aotearoa.

Kiwibank teamed up with Digital Inclusion Alliance Aotearoa to hold online banking courses around the country and supported DORA (Digital on Road Access), a WiFi-enabled bus that provides online banking training to more remote communities.