Kiwibank customers receiving payments from the Ministry of Social Development (MSD) will now receive them at the same time, every time from March 2020.
Regular government payments are made the day before they are officially due, on the basis that clients have access to funds early on the due date.
Currently payments can arrive at varying times throughout the day, with the majority being processed during the evening before the official Ministry due date.
From Thursday 19 March 2020, Kiwibank customers will be able to access their payments from their accounts at 11pm on the day they are used to receiving them, giving customers more certainty and control over their finances.
Kiwibank’s Chief Operating Officer Paul Chambers says regardless of the type of government payment they receive, customers should know with certainty when funds will arrive into their bank account.
“Due to the varying times payments are received, many customers are making multiple enquiries to our contact centre to see if their funds are available, some in precarious circumstances.”
“MSD payments, such as benefits, Accommodation Supplement, NZ Super/Veteran’s Pension, StudyLink and Youth payments, will now arrive into customer accounts at the same time, every time,” said Mr Chambers.
“For most of these customers, the official due date for their MSD payment is on a Tuesday, meaning they could receive payment on Monday anytime between 6pm and midnight. Therefore, they will notice this change for the first time on Monday 23 March 2020, when the payment will arrive in their account at 11pm.”
Kiwibank is currently contacting those customers impacted by the change.
Media enquires contact: Kara Tait, Kiwibank External Communications Manager - 027 475 3521