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Foreign cheques

Also known as foreign currency drafts and bank drafts, foreign cheques are a way to physically receive money from overseas.

Changes to Foreign Currency cheques

Australian dollar cheques

From 15 November 2023, ASB will no longer accept Australian dollar cheques.

All currency cheques

From 31 March 2024, ASB will no longer accept any foreign currency cheques.

If you have any foreign currency cheques that you haven't yet deposited, please make sure you do this before these cut off dates.

Receiving future international payments

Alternative payment methods

If you regularly receive foreign currency cheques, or receive a cheque after these dates, you’ll need to contact the cheque issuer and arrange to receive your overseas payments electronically, with an international money transfer. This is a faster, more secure way to receive international payments. You can see what details you’ll need to provide the sender of funds here.

ASB’s fee for processing an international electronic funds transfer to your account is $15.00 (waived for amounts of $100 or less and for credits to foreign currency accounts).

Share or dividend cheques

If you receive share or dividend payments via foreign currency cheque, please get in touch with your share registry to discuss alternative options. These could include direct credit to a New Zealand bank account, direct credit to a foreign bank account outside of New Zealand, or dividend reinvestment.

Please note, overseas share registries may not recognise New Zealand domiciled Foreign Currency Accounts as a valid account type for dividend payment purposes.

Overseas pension cheques

If you currently receive your pension payment by cheque in a foreign currency, please get in touch with the overseas government department or pension scheme company issuing the payment to discuss alternative options.

Overseas government tax cheques

For overseas government tax payments, please contact your tax adviser to determine the best alternative payment option for you.

How it works

Depositing foreign cheques

You can deposit foreign cheques into your ASB account. Funds will not be available until a hold period has passed (about 21 business days). If it's important to access the money more quickly, consider requesting payment by international money transfer instead.

Note: ASB does not sell foreign cheques.

Calculator

Popular foreign exchange rates

ASB Buys Cheques
ASB Buys Int'l Transfer
ASB Sells Int'l Transfer
AUD

Australian Dollar

GBP

British Pound

EUR

Euro

JPY

Japanese Yen

USD

U.S. Dollar

Exchange rates shown current as at .

See all ASB foreign exchange rates

Fees

Sending payment

Staff-assisted
FastNet Classic
Foreign cheques - stop payment fee

Other banks' charges may apply

Receiving payment

Fee
Foreign cheques - clean negotiated
Foreign cheques - sent on collection

Other banks' charges may apply

(plus courier fee)

Foreign cheques - clean negotiated dishonour fee

Other banks' charges may apply

 

Deposit your foreign cheque at ASB

What’s your cheque worth?

Use our calculator to find out what your foreign currency cheque or draft is worth in NZD.

Calculate

Visit a branch

You can deposit foreign cheques at any ASB branch.

Find a branch

Call us

We’re here to help.

0800 803 804

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ASB’s terms apply. Fees may change. Refer to asb.co.nz for other fees and charges. 

Foreign exchange Foreign cheques