Banks promote technology and staff available to assist with change

As more banks in New Zealand decide to withdraw from issuing and processing cheques more and more of their customers are having to explore new and different ways to handle their finances.

The main emphasis by the banks is to promote the use of technology for this purpose.

Their staff are available to train and help those customers who have access to computers, smartphones, iPads, etc, but feel unsure about how to use them for banking procedures.

They are also able to help with training and advising customers about the use of all types of cards and ATM machines.

Payment of accounts and bills can often be made by using internet banking or by setting up payment by automatic payment or direct debits. These are both ways to set up regular payments for things like rent and power.

It is a good idea to time an automatic payment or direct debit so that it occurs soon after the date you would receive your income payment, to ensure there is enough money in the account for the payment to proceed.

An automatic payment is a regular payment you can arrange with your bank.

You specify which bank account the payment will be made from, the amount to be paid, and how often the payment will be made (eg, a specific date each month).

You would normally set up an automatic payment if the payment amount will always be the same, for example your rent payments.

You can amend or cancel an automatic payment at any time via online banking or by contacting your bank.

A direct debit is where you sign an authority form which gives an organisation the authorisation to deduct money from your account at regular intervals.

Direct debits are a common way for people to make regular payments of varying amounts (for example, to pay your electricity bill if you are charged according to use rather than a fixed amount).

You can cancel a direct debit by telling your bank, depending on your bank, you may be able to do this over the phone.

If you find you are no longer able to handle your finances you can give someone the authority to operate your bank account.

There are two ways of giving another person operating authority on your bank account:

· giving them an authority to operate your account; or

· giving them ordinary power of attorney

In either case, it is vital that you choose someone you can trust to make good decisions that are for your benefit.

It is also a good idea to discuss your needs with your bank.

They can help you work out which option is most appropriate for you.

For free and confidential advice and information on this or any other matter visit the Palmerston North Citizens Advice Bureau (CAB) in Hancock Community House, 77 King St. Opening hours, Monday-Friday from 9am-4.30pm, call 357 0647 or 0800 367 222. We have a free legal advice service by qualified lawyers most Thursday evenings at 7.30pm, and a JP is available on Tuesdays from noon-2.30pm. No appointment is necessary for either of these services.