15 July 2025 – Payment service providers and other interested entities can request an introductory meeting now.
The Reserve Bank of New Zealand – Te Pūtea Matua (RBNZ) will open the second phase of the Exchange Settlement Account System (ESAS) application process in September 2025.
ESAS is New Zealand’s principal high-value payments system used by banks and other financial organisations to settle their financial transactions in real time. In March 2025 RBNZ completed a multi-year review of ESAS and expanded the access criteria to include more non-bank entities.
In April 2025 RBNZ published the new access criteria and opened the first phase of the application process, when licensed non-bank deposit takers (NBDTs) in New Zealand were invited to apply.
In September 2025 RBNZ will open the second phase of the application process, when other interested entities can apply. This may include payment service providers, overseas deposit takers and operators of designated Financial Market Infrastructures (FMIs).
Information on the phase 2 application process and guidance on requirements to meet the access criteria will be published on the RBNZ website in September.
In the meantime, RBNZ invites anyone who has read the access criteria and is considering applying for ESAS access to email ESASAccess@rbnz.govt.nz for an introductory meeting.
The introductory meeting is an informal opportunity to discuss ESAS, and for RBNZ to understand an entity’s intended use and share information on prerequisites and other requirements to help the entity prepare to apply from September, if they choose.
Registered banks and licensed NBDTs in New Zealand can continue to apply for ESAS access at any time. Access criteria and information for phase 1 applicants is available on the RBNZ website.
More information
Exchange Settlement Account System: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=d9e45cd26c&e=f3c68946f8
ESAS access criteria: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=02cc7268e0&e=f3c68946f8
