We've moved away from using cheques

We stopped issuing new cheque books, new deposit books and bank cheques on 15 April 2021, and stopped accepting cheques on 25 June 2021. This means you can no longer deposit a cheque into your TSB account or use a TSB cheque to make a payment.

The use of cheques in New Zealand has significantly declined and most banks have stopped or are moving away from issuing and accepting cheques, meaning this way of making payments is quickly reducing. That’s why, we’ve made the decision to stop offering cheques as a form of payment. 

We know this change will be an adjustment for some of our customers, so we’ve been proactively contacting regular cheque users to help them through this change before 25 June.

The use of cheques has declined significantly in recent years, with a drop in usage of approximately 30% at TSB in the last 18 months alone. COVID-19 has also changed the way many New Zealanders choose to bank and sped up this decline.

We know this change is a big adjustment for some of our customers. We’re here to support you through this transition and to help you setup other ways to make and receive payments after 25 June. Please get in touch with us to discuss what type of payment might be right for you, or if you have any additional questions. 

You are no longer be able to order a chequebook.

As we stopped accepting cheques on 25 June 2021, you can no longer deposit a cheque into your TSB account or use a TSB cheque to make a payment.

If you receive a cheque, you should contact the person who gave it to you and ask that they cancel it, and instead pay you directly into your bank account. They can do this using Online or Mobile Banking or via their bank 0800 number or branch. 

If you regularly get paid by cheque, the easiest option is to provide your account number to the payer, so they can arrange to pay you directly into your bank account.  

Ask them for their bank account number so you can pay them directly into their account instead. This is the fastest, easiest, and most secure way to pay them.  

Alternatively, you can ask them what other forms of payment they accept.  

We'll continue to honour and pay any TSB bank cheques up till their expiry date, even if it goes beyond 25 June. Any valid bank cheques will need to be presented in branch for payment.  

We'll be upgrading our online banking service soon and one signatory will be able to to set up a payment and a second signatory will be able to authorise the payment before it’s processed. If you feel comfortable using Online Banking, this will be a great alternative to cheques after 25 June. You can call our dedicated cheque support team on 0800 872 226 if you'd like to find our more about this.

For those who use two-to-sign cheques currently, if online banking is not a suitable option our team can talk you through your alternative options.

Any leftover cheques can be destroyed.  You don’t need to return these to TSB. 

As part of this change, we've removed our cheque deposit drop boxes from our branches. 

We refunded our customers who paid the $10 annual cheque book service fee between 26 June 2020 to 15 March 2021. 

You can continue to use Foreign Exchange cheques; however, these will also stop being accepted as a form of payment in the near future.

International payments, also known as telegraphic transfers, are a faster and more secure way to send and receive money to and from overseas. This process usually takes approximately 3-5 working days once initiated by the remitting bank, and the funds are deposited as clear funds into your account. To find out more about International Payments click here.

Online or Mobile Banking enables you to transfer money between your accounts, pay someone, pay bills, setup regular payments, check your balance and manage your accounts 24/7. It’s the fastest, easiest, and most secure way to manage your money - and it’s free! If you need help to login or would like to get set up, give us a call on 0800 872 226 from 8am-7pm Monday to Friday, and 9am-5pm weekends, or pop into your closest branch and we’ll help you feel confident using this tool.  

If you regularly pay an organisation by cheque, you can contact them directly to setup a direct debit payment instead, which means each payment will go out of your account automatically. This is a convenient way to make sure your bills are paid on time and is a great option for payments such as power, rates, or phone bills.  

You can use EFTPOS, Debit or Credit cards to make payments in person or online. 

You can also complete all your banking needs by visiting your local branch to bank in person or by giving us a call on 0800 872 226 from 8am-7pm Monday to Friday, and 9am-5pm weekends. 

Online Banking is the fastest, easiest, and most secure way to manage your money. It’s also free and there’s no paperwork to sign - just call us on 0800 872 226 or pop into your closest branch and we’ll help you to get set up and confident using this tool.  

Alternatively, our Customer Engagement Centre team can support you with all your banking needs from the comfort of your own home, or wherever you may be. Simply call us on 0800 872 226 between 8am-7pm weekdays, 9am-5pm weekends.  

The best way to receive payments is by providing your bank account number to the person paying you, so they can pay you directly into your bank account.  

You can use Online or Mobile Banking to pay someone or pay a bill - and it’s free! There are daily limits, so you’ll need to get in touch if it’s a large amount, but we can help get you sorted. Just give us a call on 0800 872 226.  

You’ll no longer be able to order a deposit book after 15 April. 

You’ll still be able to use any of your remaining pre-printed deposit slips to deposit cash into your TSB account, but we’ll stop issuing new deposit books from 15 April. Blank deposit slips are available at all our branches and are free to use – you’ll just need to write your bank account details on one of these and give it to one of our friendly team. 

Most organisations will accept the following as proof of your bank account number: 

• A copy of your bank statement - just the top section which shows the account name and number 
• A screenshot from your Online or Mobile Banking showing the account name and number 
• Come in and see us and we can provide a verified bank printout showing your account name and number

Online Banking gives you the freedom and security to move money between accounts, make payments and check your balances all from your online tablet or computer. And it’s free! There’s no paperwork to sign - just call us on 0800 872 226 or pop into your closest branch and we’ll help you to get set up and  confident using this tool. Find out more about Online Banking here. 

Our Customer Engagement Centre team can support you with all your banking needs from the comfort of your own home, or wherever you may be. Simply call us on 0800 872 226 between 8am-7pm weekdays, 9am-5pm weekends.  

Phone Banking gives you instant access to your account from the comfort of your own home, or from any New Zealand phone, wherever you may be. You can check account balances, transfer funds, pay bills, and review past transactions. It's easy to sign up – simply call us on 0800 872 226. 

We know this change will be an adjustment for some of our customers, so please know we’re here to support you in finding an alternative way to make and receive payments.  

If you feel that you would like to explore digital banking options, we’ve partnered with Digital Inclusion Alliance Aotearoa, which runs free community-based Stepping UP workshops to help build digital skills and confidence in using computers and online technologies, including digital banking. These are run at community libraries and centres nationwide and are a great way to become more familiar with the basics of digital banking and staying safe online. If you’re interested in registering for one of the free Stepping UP workshops, contact your local library or register here. 

If you receive a cheque from a customer, you should proactively provide them with your account number and ask them to pay you directly into your bank account in the future.  

We understand that charitable organisations still receive a significant amount of cheques from donors. With the use of cheques in New Zealand significantly declining and most banks in New Zealand moving away from accepting cheques, the best way to receive donations in the future is to ask your regular donors to pay you directly into your bank account. They can also set up an automatic payment – to do this you just need to give them your bank account number. 

We'll be upgrading our online banking service soon, which will make managing your business accounts even easier. This includes an improved two to sign authorisation process and will be a great alternative to cheques after 25 June 2021. You can call our dedicated cheque support team on 0800 872 226 if you'd like to find out more about this.