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We know it can be inconvenient not knowing when your MSD payments will show up in your account, so we’ve made a change to ensure you get your money at the same time, every time.
Up until 18 March 2020, your MSD payments have been arriving in your account at different times, making it difficult to plan ahead. From Thursday 19 March 2020, your MSD payments will be processed at 11pm on the same day you’re used to receiving them, provided we've received them.
It’s important to remember that the only change we've made is the time your payment will be available in your account. Everything else will stay the same.
We hope that knowing you’ll get your payment at the same time, every time will give you more certainty to manage your money.
Any payments you receive as a customer of MSD will be affected. This includes benefits as well as Accommodation Supplement, NZ Super or Veteran’s Pension, StudyLink and Youth Payments.
Making payment times consistent means you:
If you have automatic payments going out the day your payment is usually due, you might want to make sure you have funds in your account to cover them or you can change the date they go out.
Any direct debits you have set up won’t be affected by this change as they're processed after 11pm.
Richie is getting a Jobseeker Support benefit from MSD while he looks for a new job. At the moment, he receives his regular payment into his Kiwibank account every Tuesday sometime between 6pm and midnight. This makes it hard for Richie to know for certain when his money will be available.
From 19 March 2020, Richie’s money will be available at 11pm every Tuesday night, provided we've received them. To make sure he has enough money available for his rent, he goes online and updates his automatic payment so it'll go out of his account on Wednesday.
Now that he knows exactly when his money from MSD will be available in his account, he can check his account balance less often.