Cash trials timeline and milestones

Evaluation team selects trial communities

These communities offered compelling “cash stories” relevant to the trials, strong local support for participating, greater difficulty for retailers to meet cash banking needs, and met other criteria sought.

Applications open, 19 received

Towns of 1000 to 10,000 people with less than 40 hours a week of over-the-counter banking services (and which did not host a New Zealand Banking Association banking hub) were eligible to apply.

Registrations of interest open

We received registrations of interest from 82 individual towns and 8 districts or regions, after announcing the trials in December 2023, contacting potential applicants and supporters directly, and doing paid social media advertising in rural New Zealand.

Budget and business case approved

Our board approved the business case for the trials, and the Minister of Finance approved a variation to our funding agreement providing an initial budget of $3.16 million. 

Broader cash system policy work starts

We started policy work on the potential to mandate cash acceptance in some circumstances. Director of Money and Cash, Ian Woolford explains our commitment to keeping cash available.

Issues paper published

We asked for feedback on issues facing the cash system and options to keep Aotearoa’s cash system ‘fit for purpose’.