16 May 2020

ASB to phase out use of cheques

7:47 am on 16 May 2020

ASB is the latest bank to start phasing out cheques, which it says now account for less than 1 percent of its payments.

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Photo: RNZ / DOM THOMAS

General manager of retail banking Craig Sims said the banking industry was phasing out cheques as more customers opt for digital payment options.

Kiwibank stopped accepting cheques in February, and Inland Revenue and ACC did the same in March.

Sims said the bank had not yet finalised timing, as it wanted to give its customers time to adjust.

"We will give our customers plenty of notice before we make this change, and over the transition period, we will work closely with those who still use cheques to help them work through other payment options, and ensure they are comfortable with this change."

ANZ, Westpac and BNZ said last May, when Kiwibank announced it was going to stop taking cheques, that they would continue to accept them.

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