Interchange between banks | ASB (2024)

Banks in NZ typically send payments to each other at least every hour throughout the day from 9am to midnight (including weekends and public holidays).

NZ banks exchange payments between 9am and midnight daily. If the payment has been made after midnight, funds may not arrive and be processed until the morning of the following day.

Payments to other banks

From 9:00am until 11:00pm payments from ASB will be sent to other banks twice every hour.

Payments from other banks

From 9am until midnight any payment received by ASB from another bank will be credited to the appropriate account within an hour.

Paying people at other banks

If you use a one-off payment or a FastNet IRD payment to someone in another bank, we’ll send the payment usually within an hour. From there it depends on the receiving bank as to when it is posted to the intended account, however best practice is for NZ banks to process the payment within an hour.

If you have scheduled a payment to be made at a future date (like an automatic payment) then we will send the payment around 9am on the day it is due.

Being paid by people from other banks

ASB will process inward payments every hour, so we’ll put the money in your account usually within an hour of ASB receiving them. In most cases the payments you receive will be immediately available for use.

When payment funds can be used

All NZ banks send electronic credit payments as ‘cleared’ funds. This means that the receiving bank can credit these payments as immediately available funds. Access to the funds will depend on any restrictions that may be in place on the account.

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 any time during each calendar day, including payments to non ASB accounts, and payments that fall on a weekend or public holidays. 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 calendar day, including payments to non ASB accounts, and payments that fall on a weekend or public holidays.

Direct Debits

We process direct debits at any time throughout the calendar day the payment is due, including payments to non ASB accounts, and payments that fall on a weekend or public holidays. 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.

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