BECS (New Zealand) Payment Scheme Timings
Event | Description | Timings (up to)* |
Payment creation deadline | Last opportunity for you to create a Payment Order via the GoCardless dashboard or API | 03:00 NZST on D |
Cancellation of a payment prior to submission | Last opportunity for you or the Customer to cancel either the Payment Scheme Mandate, or a Payment Order made against the Payment Scheme Mandate | 03:00 NZST on D** |
Payment submission - new Payment Scheme Mandate | Day on which a Payment Order against a new Payment Scheme Mandate is submitted to the Payment Scheme by GoCardless | D |
Payment submission - existing Payment Scheme Mandate | Day on which a Payment Order against an existing Payment Scheme Mandate is submitted to the Payment Scheme by GoCardless | D |
Funds taken from the Customer’s bank account | Day on which funds are deducted from the Customer’s account and paid via the Payment Scheme by the Customer’s bank | D |
Funds received into GoCardless Bank Account | Day on which funds are paid via the Payment Scheme into the GoCardless Bank Account (a segregated account) | D (typically D, although the exact local timing of this event is outside of GoCardless’ control) |
GoCardless Fees transferred to GoCardless | Point in time when Fees become due and payable by you to GoCardless, and are transferred to GoCardless from the GoCardless Bank Account (this is only applicable for Merchants whose Fees are deducted by GoCardless from their collections, in accordance with the contract in place between GoCardless and the Merchant) | At the next available sweep, after funds have been marked as confirmed by GoCardless, typically on D+3 |
Funds sent from GoCardless to you | Day when GoCardless transfers any funds from the GoCardless Bank Account to your Nominated Account | D+4 |
Funds received into your Nominated Account | Day when you should receive funds into your Nominated Account | D+4 |
Authorised Deductions timing (can happen any time from D) | Time taken, from when Authorised Deductions become due and payable by you to GoCardless, to make the Authorised Deductions payment from the GoCardless Bank Account to GoCardless’ own business account | Within 2 Business Days (any Authorised Deductions that GoCardless is aware of before 22:00 NZST on a Business Day shall generally be transferred on that same Business Day. Any Authorised Deductions that GoCardless is not aware of until after 22:00 NZST on a Business Day shall generally be transferred on the following Business Day). |
Refund timing (can happen any time from D) | Time taken, from when GoCardless receives a refund request, to make a Refund payment from the GoCardless Bank Account to the Customer’s bank account | Within 2 Business Days (any refund request that GoCardless is aware of before 22:00 NZST on a Business Day shall generally be transferred on that same Business Day. Any refund request that GoCardless is not aware of until after 22:00 NZST on a Business Day shall generally be transferred on the following Business Day). |
* The payment timings will change throughout the year, based on the UK and New Zealand’s different time zones and daylight savings. Please take note of the article here, for details of the changes at various times in the year.
** In the case of Payment Orders with a scheduled charge date falling on a Monday, or Tuesday following a Monday which is a public holiday, your last opportunity to cancel the payment is 03:00 NZST on the Saturday prior to the charge date.
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