Bank Account Format Validations for New Zealand
Validate bank account numbers for New Zealand bank accounts in accordance with the enhanced government bank account validation rules. The latest rules validate that a bank account number must have at least 7 digits, in addition to the existing check that it cannot exceed 8 digits.
Business benefits include:
- Reduced errors while entering the bank account numbers.
- Improved user satisfaction by enabling straight-through processing of payments.
- Conforming to the latest government requirements.
Steps to Enable
You don't need to do anything to enable this feature.
Tips And Considerations
- To ensure this validation functions properly, the profile option "Disable Country Specific Bank Validations (CE_DISABLE_BANK_VAL)" must be set to No.
- The updated bank account validation rule, which requires account numbers to have at least 7 digits, aligns with the latest regulations for New Zealand. However, if banks are not adhering to these rules, customers have the option to opt out of this feature. Please contact support for instructions on how to opt out.