Editing Cheque (section)

=== New Zealand ===
Instrument-specific legislation includes the Cheques Act 1960, part of the Bills of Exchange Act 1908, which codifies aspects related to the cheque payment instrument, notably the procedures for the endorsement, presentment and payment of cheques. A 1995 amendment provided for the electronic presentment of cheques and removed the previous requirement to deliver cheques physically to the paying bank, opening the way for [[cheque truncation]] and imaging.

In New Zealand, cheques once banked were processed electronically together with other retail payment instruments. ''[[Homeguard v Kiwi Packaging]]'' is often cited case law regarding the banking of cheques tendered as full settlement of disputed accounts.<ref>''[[Homeguard v Kiwi Packaging]]'' [1981] 2 [[New Zealand Law Reports|NZLR]] 322</ref>

In New Zealand, payments by cheque have declined since the mid-1990s in favour of electronic payment methods. In 1993, cheques accounted for over half of transactions through the national banking system, with an annual average of 130 cheques per capita. By 2006 cheques lagged well behind [[EFTPOS]] ([[debit card]]) transaction and electronic credits, making up only nine per cent of transactions, an annual average of 41 cheque transaction per capita.<ref>{{cite web |date=March 2008 |title=Payment and Settlement Systems in New Zealand |url=http://www.rbnz.govt.nz/markets_and_payment_operations/ |access-date=2010-09-19 |publisher=Reserve Bank of New Zealand}}</ref> 

In 2020 New Zealand Banks began phasing out of cheques, and they are no longer accepted as payment. All have moved to other types of payment systems.<ref>{{Cite web|url=https://www.varntige.co.nz/blog/post/67702/phasing-out-of-cheques-in-new-zealand--are-you-prepared/|title=Phasing out of cheques in New Zealand – Are you prepared?|website=Phasing out of cheques in New Zealand – Are you prepared? &#124; Varntige|accessdate=18 December 2022}}</ref><ref>{{cite web | url=https://www.justice.govt.nz/about/news-and-media/news/the-ministry-is-phasing-out-payment-by-cheque/#:~:text=As%20New%20Zealand%20banks%20continue,opting%20for%20digital%20payment%20options. | title=The Ministry is phasing out payment by cheque &#124; New Zealand Ministry of Justice }}</ref>[[Kiwibank]] stopped accepting cheques as payment on 28 February 2020,<ref>{{cite news |last1=Lock |first1=Harry |date=28 February 2020 |title=Kiwibank checks out: Last day for customers to use cheques |work=Radio New Zealand |url=https://www.rnz.co.nz/news/business/410569/kiwibank-checks-out-last-day-for-customers-to-use-cheques |access-date=15 May 2020}}</ref> followed by [[ANZ Bank New Zealand|ANZ]] on 31 May 2021. [[Westpac]] and [[BNZ]] stopped accepting cheques on 25 June and 30 June 2021 respectively; [[ASB Bank|ASB]] was the last major bank to phase out cheques on 27 August 2021.<ref name="StuffNZ">{{cite news |last1=Edmunds |first1=Susan |date=13 May 2020 |title=BNZ, ANZ, Westpac to phase out cheque use |work=Stuff |url=https://www.stuff.co.nz/business/300011579/bnz-anz-westpac-to-phase-out-cheque-use |access-date=15 May 2020}}</ref><ref>{{cite news |date=16 May 2020 |title=ASB to phase out use of cheques |work=Radio New Zealand |url=https://www.rnz.co.nz/news/business/416777/asb-to-phase-out-use-of-cheques |access-date=16 May 2020}}</ref>