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You're right there. NZ introduced a new interbank transfer system about 5 years back I think, and by the end of this year, all the banks are going to be on it,
by toomanybeersies 10y ago
You're right there. NZ introduced a new interbank transfer system about 5 years back I think, and by the end of this year, all the banks are going to be on it, ANZ is the only bank that isn't right now. It means that instead of inter-bank transfers being processed once a day at closing, they're now processed hourly.