New Zealand banks move to processing payments seven days a week


WELLINGTON (Reuters) – The majority of New Zealand bank customers will be able to send and receive local payments seven days a week, starting on Friday, the local payments overseer said.

Payments NZ, which manages New Zealand’s core payment clearing systems said in a statement that from Friday, electronic bank payments made on public holidays and weekends can now go through on the same day, every day of the year.

Previously banks could only send and settle payment transactions on business days.

(Reporting by Lucy Craymer; Editing by Lincoln Feast.)