Interchange between banks

We’ve made it faster to move money between banks.

Payments between NZ banks

Since 2012 payments between ASB and other New Zealand banks are processed every hour during the day – bringing us one-step closer to real-time banking with NZ Banks.

ASB has had seven-day, real-time banking for over 40 years. But any customers making payments or moving money between banks would usually have to wait overnight for the transaction to be processed.

Not any more.

ASB has been a keen participant in the industry arrangement where transfers between banks will occur at agreed pre-determined times during the day. From Monday 2 April 2012 transfers with other banks have happened at the following times Monday to Friday (excluding public holidays).

Payments to other banks

From 9:00am until 11:00pm payments will be sent to other banks every hour. This will include payments initiated up to an hour before we send them to the other bank.

Payments from other banks

From 9:00am until 12:00 Midnight any payment sent to ASB will be credited to the appropriate account within an hour of receipt of the money.

What this means

Paying people at other banks

If you use One-Off Payment or FastNet IRD payments to pay someone in another bank, we’ll send the payment through within an hour. From there it depends on the scheduling of the receiving bank as to when it is posted to the intended account.

ASB ‘cleared payments’

ASB has a process of sending almost all electronic credit payments as ‘cleared’ payments. This means that the receiving bank can choose to credit these funds as available funds immediately, rather than waiting the normal ‘dishonour’ period of 2-days. So if you’re paying a business they should have cleared funds earlier so they should be able send you your goods sooner.

Being paid by people from other banks

ASB will post payments every hour, so we’ll put the money in your account sooner - usually within an hour of ASB receiving them.

More about ASB payments

Payment between ASB accounts

ASB to ASB account payments are real-time and cleared 7 days / 24 hours. So any transfers or payments you make within ASB will always appear immediately as available funds.

Automatic Payments

We process automatic payments at the beginning of each business day. If the due date falls on a weekend or public holiday, the payment is sent on the next business day. If there’s not enough money in the account, we’ll try the payment again in the evening.

Bill Payments

We process bill payments every hour (if loaded before 11:15pm) or at the beginning of the next business day. If the date falls on a weekend or public holiday, the payment is sent on the following business day.

Direct Debits

Direct Debits can be processed at any time throughout the day the payment is due, or the next business day if the due date falls on a weekend or public holiday. Because of this we encourage customers to ensure they have sufficient funds in their account on days Direct Debits are due or they may fail to be processed.


Cheques are processed overnight and we make sure you receive most of your deposits before we debit your account by making these one of the last payments we process each day. This means the funds leave your account sometime in the middle of the night although the exact time changes each day.

Ways to check your payments

It’s easy to keep track of your accounts either online or over the phone. You can even set up alerts to actively let you know specific details about your accounts. You can read more about these services on the pages below.

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Banking with ASB Interchange between banks