From 2 September 2022, you’ll only be able to deposit cash into your own account or into an account that you have authority to operate, in branch or at a Local for Kiwibank. If you need support learning about alternative ways to make or receive cash deposits, we’ve got resources to help you.

Changes to our cash deposit service

To help reduce the risk of money laundering, from 2 September 2022 at a Kiwibank branch or Local for Kiwibank, you’ll only be able to deposit cash into your own account or into an account that you have authority to operate.

This change is applicable to Kiwibank, Kiwi Wealth and NZHL - including credit card, home loan and everyday personal and joint accounts.

Receiving a cash deposit

If you regularly receive cash deposits from anyone who doesn’t have authority to operate your account, you’ll need to let them know of this change and ask them to make a payment using internet banking, mobile app, phone banking or at their bank.

Making a cash deposit

If you need to make a cash deposit into another account that you don’t have the authority to operate, you’ll need to:

  1. Firstly deposit the cash into your own account. You can do this at a cash deposit ATM, in branch or at a Local for Kiwibank.
  2. Once the cash deposit is in your account you can use internet banking, the mobile app or phone banking to make a payment to the recipient. You can also do this in branch or at a Local for Kiwibank.
  3. If you know that you'll need to regularly pay the recipient, you can set up an automatic payment in internet banking or the mobile app.

Please note that our standard service fees may apply.

Key dates

Before 2 September 2022

Please make sure you've contacted anyone who makes cash deposits into your account to let them know about this change and the alternative ways of making payments to you.

From 2 September 2022 onwards

Cash deposits at a Kiwibank branch or a Local for Kiwibank will only be accepted from someone who has authority to operate on the bank account into which the deposit is being made. This means that anyone who has previously made a cash deposit into your bank account will no longer be able to do this at a Kiwibank branch or a Local for Kiwibank, unless they have authority to operate your account.

If you wish to make a cash deposit, you’ll need to do this using one of the alternative payment methods mentioned above.

We're here to help

Get in touch with our digital banking support team if you need help making the change from cash deposits to electronic payments.

Setting up authority to operate

To find out more about how to set up authority to operate, see our authority to operate page.

Setting up internet banking or the mobile app

If you would like to learn more about how to set up internet banking or the mobile app so you can manage and check balances, see our support hub. Our branch team can also help you move to electronic payments.

If you have any questions or concerns about this change, please get in touch.

Common questions

Why will I not be able to deposit cash into my friend or family member's account from 2 September 2022?

You’ll still be able to deposit money into your family members and friends accounts by depositing the cash into your account first, you'll then need to transfer it either electronically or via a branch to the recipient's bank account.

This is becoming more common in New Zealand banks, as it reduces money laundering risks and further enables accurate and timely reporting of cash deposits to regulatory authorities.

As a Kiwibank customer, what alternative payment methods do I have to deposit cash into someone else’s account after 2 September 2022?

If you need to make a cash deposit into another account that you don’t have the authority to operate, you’ll need to:

  1. Firstly deposit the cash into your own account. You can do this at a cash deposit ATM, in branch or at a Local for Kiwibank.
  2. Once the cash deposit is in your account you can use internet banking, the mobile app or phone banking to make a payment to the recipient. You can also do this in branch or at a Local for Kiwibank.
  3. If you know that you'll need to regularly pay the recipient, you can set up an automatic payment in internet banking or the mobile app.

Please note that our standard service fees may apply.

I’m not a Kiwibank customer but I need to deposit cash into a Kiwibank customer account, what will I need to do after 2 September 2022?

You’ll need to make a deposit using internet banking, mobile app, phone banking or at your bank.