Cheque Phase Out | Rabobank New Zealand
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Rabobank Cheque Phase Out

About the changes:

Over recent years, New Zealanders’ use of cheques has fallen significantly as increasing numbers of individuals and businesses move to digital payment options such as internet banking. Recognising this accelerating move away from cheques across the banking industry, Rabobank New Zealand would like to advise you it will cease processing and accepting cheques from 25th June 2021.

Frequently Asked Questions

Why is Rabobank ceasing cheque processing?

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We’ve witnessed a longstanding and accelerating move away from cheques across the New Zealand banking sector over many years and a number of banks are moving in the same direction. Increasing numbers of our clients have moved to digital payment options, including internet banking, which can be faster, safer and more cost effective.

What are the timings for this change?

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On 23 October 2020, we announced our decision to phase out cheques.

After 26 March 2021, Rabobank won’t issue cheque or deposit books.

After 25 June 2021 cheque deposits will not be accepted into a Rabobank customer account and other banks may stop accepting Rabobank cheques. This means that after 25 June 2021:

•   You will no longer be able to deposit a cheque into a Rabobank account

•   Customers should no longer write cheques

•   All customers cheque facilities are closed, which means customer cheques won’t be paid

I don’t have internet banking, so what are my options?

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We appreciate this change could cause some uncertainty, especially for clients who are high users of cheques or who have not used internet banking. Over the coming months, we will work closely with you and other affected clients to provide support through the transition. We have set out our position early, so that gives us time to work with you on alternatives such as internet banking that best meet your needs.

I don’t want to move to internet banking – I prefer cheques. What can you do for me?

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We will no longer be accepting cheques after June 25 next year and after this date and you’ll need to carry out your banking via our internet banking system and/or your Rabobank debit card. We would be happy to sit down with you and walk your through our internet banking and show you how it could really work for you and your business.

Are you able to extend your timeframe or set me up with alternative arrangements for cheque processing?

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We’re afraid that’s not possible. As we’ve said, Rabobank has made the decision to cease processing cheques for the reasons we’ve given. Our focus now is on working with you to ensure you have alternative arrangements that best meet your needs.

Can I continue to use Rabobank cheques right up until next June?

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Yes, but we are keen to work with you to transition you to new payment options before then if we can, so you have plenty of time to have your new banking arrangements in place.

Is this just a cost saving measure?

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Not at all - that is not why we’ve made this decision. Like other New Zealand banks, we’ve seen a significant fall in the use of cheques over the past few years. In many cases, there are faster, safer and more cost effective payment options.

 

If you have any further questions about this change not covered above, please contact our Call Centre team on 0800 500 933 between 8am and 5.30pm Monday to Friday.

 

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