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Exchange Settlement Account System

The Exchange Settlement Account System (ESAS) is New Zealand’s principal high-value payments and settlement system used by banks and other approved financial organisations.

Published:

18 June 2025

About ESAS

ESAS overview

Information about what ESAS is, how it works, how payments are made and how ESAS is governed.

ESAS and the financial system

Information about how ESAS fits in the payments system, the benefits of ESAS and Real-Time Gross Settlement (RTGS), improving financial system stability and moving to lSO 20022.

Information for applicants

Who can use ESAS

Information about the ESAS access criteria, user fees and rules.

How to apply for ESAS access

Find out about the ESAS application requirements, processes and costs.

Information for current ESAS members

ESAS members

Information for ESAS account holders including how to contact us for support, ESAS scheduled outages, annual report and survey responses.

ESAS access review decisions

In March 2025, the RBNZ Board approved new ESAS access criteria. Licensed non-bank deposit takers (NBDTs) in New Zealand and registered banks can apply for ESAS access now. The next phase of the application process will open in September 2025.

Read our media release

Materials and submissions from the two ESAS access review consultations are on the CitizenSpace website.

Go to CitizenSpace