Inland Revenue and the Accident Compensation Corporation are calling ‘time’ on cheques. From March next year, IR and ACC will no longer accept payments by cheque from customers who are able to use alternative payment options.
IR received more than 430,000 cheques last financial year, the largest number received by any public sector agency.
ACC received approximately 25,000 cheques from business customers.
Those numbers have been dropping by around 20 per cent annually and at the end of the financial year (June 2019) only around 5% of payments received by both IR and ACC were by cheque.
IR are also writing to those who pay by cheque, with more information about this change and alternative ways to pay.