Signing off: Inland Revenue and ACC call time on accepting payments by cheque

Signing off: The days of cheques are numbered with ACC and IR. Photo / 123RF

If you haven't already thrown away your chequebook, the time might be nearing as Inland Revenue and the Accident Compensation Corporation call time on them.

Following a drop in the number of cheques cashed by customers, both organisations would no longer accept them as a payment option from March next year.

IR received the largest number of cheques in the previous financial year out of any public sector agency with 430,000. ACC received around 25,000 from business customers.

At the end of the financial year (June 2019), only 5 per cent of payments received by IR and ACC were by cheque. The numbers had also been dropping about 20 per cent annually.

"Cheques are part of a paper-based world and don't mesh with the increasingly digital world we now operate in," IR deputy commissioner Sharon Thompson said.

"The number of cheques being used is spiralling down and will continue to trend that way. Electronic payments are simpler, easier and safer."

Customers would be supported where needed in transitioning to alternative payment methods, either by face to face, by phone or with written material.

Meanwhile, cheques post-dated for March 1, 2020, or later would not be accepted, Thomspon said.

"There's nearly six months before that happens so if there are any questions or concerns, our customers can contact us or their bank.

"We want to help as many as possible shift to those before the technology used to process cheques comes to the end of its working life next year."

It was agreed business customers would be better serviced using electronic payments, ACC head of business customer service delivery Phil Riley said.

"Electronic payments are more efficient and secure, with only a small percentage of customers still choosing to make their payments by cheque.

"We'll be working closely with our affected customers to give them as much support as we can to make this change."

Options for payment by Inland Revenue:

• Electronic via internet banking or direct debit in MyIR. This would minimise delays and includes a formal notification of the date and time the payment was made to Inland Revenue.

• Customers can make payment by debit/credit card over the phone, through the unauthenticated payment page on the Inland Revenue website, and through myIR.

• Taxpayers can also set up direct debits in myIR.

• Cash or eftpos are still payment options but only at Westpac branches. They're not accepted at Inland Revenue offices.

Options for payment by Accident Compensation Corporation:

• Electronic payment via internet banking.

• Direct debit payments and monthly instalments can be set up via MyACC for Business.

• Payment by debit/credit card over the phone, through the unauthenticated payment page on the ACC website, and through MyACC for Business.

• Cash or Eftpos are still payment options but only at Westpac branches. They're not accepted at ACC offices.