Payments NZ Participants are financial organisations that exchange payments directly with other Participants in one or more of our clearing systems. Direct participation in a clearing system is an efficient and cost-effective way to exchange payments, and avoids the need to conduct transactions through third parties.

All Participants are party to a multi-lateral participation agreement. This agreement requires Participants to comply with the Payments NZ Rules and Standards, which govern the operation of our clearing systems. Prospective Participants will receive a copy of the Rules and Standards as part of the joining process.

Benefits of Participation

As a Participant in a clearing system you will have:

  • The certainty and efficiency provided by having one set of multilateral payment rules, standards and procedures that Participants must comply with, and can rely on.
  • A role in the governance of the clearing system you participate in, by having a representative on the Management Committee responsible for that clearing system.
  • Involvement in the development of the Rules and Standards governing how the clearing system operates.
  • Efficient resolution of industry issues and regulatory requirements through collective negotiations and work efforts.
  • Access to strategic forums – where you will be able to interact with senior decision makers from across the industry. 

Becoming a Participant

To become a Participant, your organisation must be able to comply with the access criteria, which are designed to encourage participation while maintaining the safety and integrity of the payments system. The access criteria are set out in the documents below.  

If you are interested in becoming a Participant, please contact us and we will help you decide whether to make a formal application. Call us on +64 (0)4 890 6750 and we’ll take you through the options available.

Access documents

  • The Access Rules specify the criteria your organisation must satisfy to join a clearing system and explains the joining process.
  • The Access Procedures provides more detailed information on how to satisfy the access criteria and the joining process for each clearing system.

Current Participants

Participants by clearing system

Participant PCS BECS CECS HVCS
ANZ Y Y Y Y
ASB Y Y Y Y
BNZ Y Y Y Y
Bank of China N N N Y
CCB (NZ) N N N Y
Citibank Y Y Y Y
HSBC Y Y Y Y
ICBC (NZ) N Y N Y
Kiwibank Y Y Y Y
NZ Depository N N N Y
TSB Y Y Y Y
Westpac Y Y Y Y


NOTE: The information on the web page, and the documents attached, are for information purposes and should not be taken as legal advice. As our rules do change from time to time we advise you to contact us before relying on this information in any way. If you have any questions about your application or the application process, please contact us.

Related pages
  • Consumer Electronic Clearing System

    CECS governs how consumer payments work, such as EFTPOS payments and mobile payments.

    Read more  
  • High Value Clearing System

    HVCS governs large payments that cannot be reversed, such as property settlements.

    Read more  
  • Bulk Electronic Clearing System

    BECS governs how direct debits, automatic payments, bill payments, and direct credits work.

    Read more  
  • Paper Clearing System

    PCS governs how all paper-based payment instruments work, such as cheques.

    Read more