We are responsible for ensuring that cash meets the needs of the public. The consultation asks the public about local access to withdraw cash, deposit cash and swap cash for low-denomination banknotes and coins.
"There has been strong interest in the consultation with more than 4700 responses so far. We've extended the consultation deadline to 31 July 2026 to allow more time for people and industry to respond. No decisions have been made and we welcome a range of views on the proposals outlined in the consultation," says Assistant Governor Money Karen Silk.
"We received detailed questions about the proposal's legal basis, so we're publishing additional information to explain it. We expect this will support stakeholders in making well-informed submissions," says Karen Silk.
"We welcome views from the public, banking and cash industry on the consultation, and further engagement with banks and other cash industry participants will be important when working through how to best implement any proposal. This will be a subsequent conversation, informed by what we hear through the public consultation, alongside our research, analysis and engagement over the past five years to understand the cash needs of the public and if these needs are being met," says Karen Silk.
Alternate formats of the consultation document - in NZSL, Braille, Easy Read, Audio and Large Print - will be made available in May to allow disabled people and their communities to have their say.
We will respond to other OIA requests on the Keeping Cash Local consultation by 2 June 2026.
