The Reserve Bank of New Zealand has opened a public consultation on a proposed cash services standard that would set minimum expectations for banks’ provision of cash withdrawals, cash deposits and change. The proposal would require customers in urban areas to have access within a walkable distance and customers in rural areas within a reasonable driving distance, with no unreasonable wait times and with cash services free of charge. The consultation responds to banks’ ongoing reduction in cash access points, particularly in rural areas, and is framed around banks sharing cash infrastructure, as they do at the five remaining New Zealand Bankers’ Association regional banking hubs. District maps illustrate what the proposal could mean across 66 territorial authorities excluding the Chatham Islands. The Reserve Bank estimates benefits to New Zealand of NZD 2.83 billion per year, at an additional annual cost to banks of around NZD 104 million, and cites evidence that over 80% of adults use cash sometimes, 56% store cash and 8% rely on cash as their sole means of payment, while 72% of small businesses would be adversely affected if cash was unavailable. The consultation is open for six weeks and closes Friday 10 April 2026.
Reserve Bank of New Zealand 2026-02-25
Reserve Bank of New Zealand launches consultation on a cash services standard requiring free access to cash within walkable urban and reasonable rural distances
The Reserve Bank of New Zealand is consulting on a proposed cash services standard to ensure banks provide accessible cash withdrawals, deposits, and change, particularly addressing reduced cash access in rural areas. The proposal includes shared cash infrastructure and estimates benefits of NZD 2.83 billion annually, with costs to banks of NZD 104 million. Over 80% of adults use cash, and 72% of small businesses would be negatively impacted by cash shortages.