BECS NZ Payment Timings improvements
We're excited to announce an upcoming enhancement to our payment processing times for New Zealand merchants, designed to give you more flexibility and control over your payment collections.
What's changing?
Previously, the latest time you could create a payment in New Zealand was 4 PM London time, two business days before the charge date. We are reducing the advance notice period for payments in New Zealand from two business days to one business day.
This means that our system will use a 1-day advance notice as the default for payments in NZ.
How will this benefit you?
This change is a significant improvement that allows you to create payments closer to your desired charge date.
- Increased flexibility: You will be able to create payments up to D - 1 (the day before the charge date) at 4 PM London time for payments to be charged on D (the charge date). This effectively translates to around 4 AM on the charge date in the NZ time zone.
- Greater control: This gives you the impression that payments can be created up until the early morning of the charge date, providing more last-minute payment creation options.
What you need to know:
The payment timings will change throughout the year, based on the UK and New Zealand’s different time zones. Please take note of the table below, for details of the changes at various times in the coming year:
| Event | Last Sunday in September (NZDT starts) → Last Sunday in October (UK BST ends) | Last Sunday in October (UK GMT starts) → Last Sunday in March (UK GMT ends) | Last Sunday in March (UK BST starts) → First Sunday in April (NZDT ends) | First Sunday in April (NZST starts) → Last Sunday in September (NZST ends) |
| Payment creation deadline |
UK: D -1 at 4 PM
NZ: D at 4 AM |
UK: D -1 at 4 PM
NZ: D at 5 AM |
UK: D -1 at 4 PM
NZ: D at 4 AM |
UK: D -1 at 4 PM
NZ: D at 3 AM |
|
Cancellation of a payment prior to submission |
UK: D -1 at 4 PM NZ: D at 4 AM |
UK: D -1 at 4 PM NZ: D at 5 AM |
UK: D -1 at 4 PM NZ: D at 4 AM |
UK: D -1 at 4 PM NZ: D at 3 AM |
|
Payment submission |
UK: D - 1 at 4:30 PM NZ: D at 4:30 AM |
UK: D - 1 at 4:30 PM NZ: D at 5:30 AM |
UK: D - 1 at 4:30 PM NZ: D at 4:30 AM |
UK: D - 1 at 4:30 PM NZ: D at 3:30 AM |
| Funds taken from the Customer’s bank account |
UK: D NZ: D |
UK: D NZ: D |
UK: D NZ: D |
UK: D NZ: D |
| Funds received into GoCardless |
UK: D NZ: Typically D, but the exact timing of this event is outside GoCardless’ control |
UK: D NZ: Typically D, but the exact timing of this event is outside GoCardless’ control |
UK: D NZ: Typically D, but the exact timing of this event is outside GoCardless’ control |
UK: D NZ: Typically D, but the exact timing of this event is outside GoCardless’ control |
|
GoCardless fees taken |
UK: D + 3
NZ: D + 3 |
UK: D + 3
NZ: D + 3 |
UK: D + 3
NZ: D + 3 |
UK: D + 3
NZ: D + 3 |
| Funds sent from GoCardless to you |
UK: D + 3 after 11 AM NZ: D + 3 after 11 PM |
UK: D + 3 after 11 AM NZ: D + 4 after midnight |
UK: D + 3 after 11 AM NZ: D + 3 after 11 PM |
UK: D + 3 after 11 AM NZ: D + 3 after 10 PM |
|
Funds received into your Nominated Account |
UK: D + 4 NZ: D + 4 |
UK: D + 4 NZ: D + 4 |
UK: D + 4 NZ: D + 4 |
UK: D + 4 NZ: D + 4 |
| Authorised deductions due and payable |
UK: If GC is aware before 11AM - same day If after 11AM - next day NZ: If GC is aware before 11PM - same day If after 11PM - next day |
UK: If GC is aware before 11AM - same day If after 11AM - next day NZ: If GC is aware before midnight - same day If after midnight - next day |
UK: If GC is aware before 11AM - same day If after 11AM - next day NZ: If GC is aware before 11PM - same day If after 11PM - next day |
UK: If GC is aware before 11AM - same day If after 11AM - next day NZ: If GC is aware before 10PM - same day If after 10PM - next day |
| Refunds sent to payer |
UK: If GC is aware before 11AM - same day If after 11AM - next day NZ: If GC is aware before 11PM - same day If after 11PM - next day |
UK: If GC is aware before 11AM - same day If after 11AM - next day NZ: If GC is aware before midnight - same day If after midnight - next day |
UK: If GC is aware before 11AM - same day If after 11AM - next day NZ: If GC is aware before 11PM - same day If after 11PM - next day |
UK: If GC is aware before 11AM - same day If after 11AM - next day NZ: If GC is aware before 10PM - same day If after 10PM - next day |
- Switch date: This change will come into effect after a specific "switch date and time". Payments created before this switch date will still adhere to the 2-day advance notice, while payments created after it will follow the new 1-day advance notice policy.
- Weekend and Monday charge dates: It's important to note that if your charge date falls on a Monday, the latest time for creating a payment will revert to the previous Friday at 4 PM London time. This corresponds to early Saturday morning in New Zealand.
- Impact on existing payments: Once payments are created and their charge dates are established, any subsequent changes to the advance notice will not affect those payments.