ASB is preparing for a cheque-free future

With less than 1% of ASB customers' payments being made by cheque, ASB is phasing out cheques as a payment option. A number of other New Zealand banks have also indicated their intention to phase out cheques during 2021.

Most of our customers now prefer the convenience, simplicity, and security of using online and mobile payment options, which are more secure and processed faster than cheques.

If a cheque-free New Zealand will change how you make and receive payments, read on to find out about the easy alternatives ASB can offer you.

If you have any questions, just give us a call. We're here to help. 

Important Dates

Dates are accurate on 8 March 2021. Please confirm exit dates directly with other institutions. ASB will stop accepting cheques from other banks three business days before that bank exits cheques

March 2021

31 March: ASB will stop automatic cheque book replacement. You will need to contact us if you want a replacement cheque book after this date.

May 2021

28 May: ASB stops issuing all cheque books and bank cheques.

31 May: ANZ stops cheques.

June 2021

25 June: Westpac stops cheques.

30 June: BNZ stops cheques.

August 2021

27 August: ASB stops cheques.

  • ASB is no longer issuing cheque books with new accounts.
  • Please check directly with other banks for more information about their cheque-free dates and how this may impact you. 
  • Each bank determines its own cheque exit date. ASB will stop accepting cheques from other banks three business days before that bank exits cheques.
  • After 27 August, ASB will not issue or process any ASB cheques. ASB bank cheques issued before this date will be honoured, subject to the usual requirements.

Background FAQs

How should I prepare for this change?

  • Start planning for the changes now by setting up automatic payments and direct debits in internet banking or through the ASB Mobile App. Find out how.
  • If you need a hand, register your interest for the next free ASB Better Banking Workshop in your area where our friendly team will work with you individually to demonstrate our mobile banking and internet banking services. Register your interest here.
  • Deposit other banks’ cheques before the bank becomes cheque free. ASB will not be able to process cheques from other banks after their cheque exit date. ASB will stop accepting cheques from other banks three business days before that bank exits cheques.

What happens if I need to write an ASB cheque after 27 August 2021?

ASB cheques will not be processed after 27 August 2021. This includes making payments to your ASB credit card or personal loan.

ASB offers a wide range of alternative payment options through internet banking and mobile banking which you can learn about here.

If you prefer to do your banking over the phone, you could use ASB’s Fastphone.

What do I do with unused cheques?

You should destroy any cheque books with unused cheques. They cannot be used for payment and there is no need to return them to ASB.

I have an ASB bank cheque, will you honour it?

If you have received a Bank cheque, please deposit it as soon as possible. From 28 May 2021 ASB will no longer issue bank cheques. Bank cheques issued before this date will be honoured (subject to the usual requirements).

What about cheques I receive from overseas?

ASB will continue to process cheques from overseas banks for the meantime. This may change in future and we will keep our customers updated of any changes.

What can I do if I receive a cheque from another bank after that bank exits cheques?

You will need to take it back to the drawer / issuer and ask them to provide payment via another method.

Business and Charity FAQs

I’m a business owner and my customers pay by cheque. What should I do to prepare?

  • Now is the time to set up alternative electronic payment methods. Have a look at the ASB Business Hub to find out more about accepting digital payments from your customers.
  • Make sure your staff are aware that cheques will be phased out.
  • Let your customers know that your business will no longer be accepting cheques, and let them know what other payment options are available such as credit/debit card, Online EFTPOS or internet/mobile banking.
  • Update any business collateral such as flyers, invoices, posters and websites to remove cheques as a payment option.
  • If your business is still writing cheques, encourage your suppliers to bank the cheques as soon as possible. Investigate other ways you can pay on our website.

What about charities?

If your charity relies on cheques to receive donations the most important thing is to get in touch with your supporters early about the change. Include an update in your regular communications to supporters, such as newsletters, emails and update your website.

  • If you haven’t already, set up alternative electronic payment methods.
  • Make sure your staff and volunteers are aware that cheques will soon be phased out.
  • Notify donors that the charity will no longer be accepting cheques and let them know what other donation options are available such as credit/debit card, Online EFTPOS or internet/mobile banking.
  • Update any collateral such as fliers, posters and websites to remove cheques as a donation option.
  • If you have an ASB Relationship manager, they will be able to walk you through our alternative banking options and can help you chose the right option to suit your banking needs, or you can pop into a local branch and one of our friendly team will be happy to help. 

Payment FAQs

What are the benefits of paying (and being paid) electronically?

  • Electronic transactions give you faster access to funds. The funds can be used as soon as the money appears in your account.
  • Electronic transactions give you greater visibility over what’s happening in your accounts.
  • Electronic payments can be scheduled to occur in the future on a selected date, or on a recurring basis.

How do I stay safe when banking online?

  • Our internet banking and mobile options are safe and convenient.
  • ASB takes the protection of your money seriously and we work every day to protect you from financial crime.
  • Using secure passwords, encrypted web connections, net codes and automatically logging you out after inactivity are just a few examples of how we help to keep you safe online.
  • Find out more about our security options here.

How can I receive payments?

Is it safe to share my bank account number?

  • It is safe to share your bank account number and ask people to pay directly into your account.
  • ASB has strict identification and verification requirements in place to make sure it’s not possible for anyone to draw funds out of your account using the account number only.

How do I register for internet banking and mobile banking?

I don’t have internet banking and I’m apprehensive about sending cash. How can I pay someone securely?

You can complete all your everyday banking over the phone with ASB’s fast phone banking service. Find out more about Fastphone here.

I need help to make a payment.

Call our contact centre on 0800 803 804 and one of our friendly team will be able to guide you. Customers aged 65+ can call our priority line on 0800 272 119.

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Our contact centre is open to assist customers with critical banking requirements or urgent queries. Please click “Call us” link below for details.

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