As payment processing within the banking sector is transitioning to 7 day payment processing from Saturday 22 April 2023, we will be now scheduling payments on non-business days (i.e. on public holidays and in the weekend).
What this means for you:
If the 20th falls on a non-business day, the deadline has changed. Please read the What If Scenario’s below:
20th falls in weekend or Public Holiday
The payment will be prepared on the last working day prior to the 20th, therefore if something needs to be included in the Monthly Payrun it would need to be with finance by 8am the morning of the workday before the 20th.
If 20th is a Saturday – Payment run will be prepared on Friday, close off for accounts to be paid 8am Friday.
If the 20th is a…
- Sunday – conditions as above
- Public Holiday on Monday - conditions as above
- Public Holiday on Tuesday – the payment run will be prepared on Monday, therefore close off for accounts 8am Monday morning.
- Likewise if the 20th is a Public Holiday on Wednesday, Thursday or Friday – Payment run will be prepared on the last business day before the 20th and close off for accounts is 8am on the last business day.
Weekly payments are made every Thursday, therefore if something needs to be included in the Weekly Payrun it would need to be with finance by 8am Thursday. The exception to this rule is when the 20th falls on a Wednesday or Friday (see below).
Thursday payment runs around 20th
If the 20th falls on a Wednesday or Friday, the payments for Thursday will be held for a day or pushed forward so one payment is made that week. Please note Homestay, Youth Guarantee and Tapu Ora Payments will still be made on Thursdays.
If you have any concerns or questions around this, please email Finance@op.ac.nz
Published on 17 Apr 2023
Orderdate: 17 Apr 2023
Expiry: 17 Apr 2025