Changes to bank accounts

Each client has the choice to receive their payments into either a New Zealand bank account or an overseas bank account

Payments into New Zealand bank accounts are made fortnightly on each New Zealand Superannuation or Veteran's Pension payday.

Payments to overseas banks are made every 4 weeks on every second New Zealand Superannuation or Veterans Pension payday. Work and Income will meet the bank transaction costs incurred in transferring the payment to the overseas bank account.

If a client changes bank accounts, they will need to provide proof of the new bank account. Clients should delay closing their old bank account until they receive the first payment into the new account. This will eliminate any delays in recovering payments sent to the old account and then paying them to the new one.