New Zealand to reopen ESAS applications in September

It is open to payment service providers, overseas deposit takers, and designated FMI operators.

The Reserve Bank of New Zealand (RBNZ) will open the second phase of the Exchange Settlement Account System (ESAS) applications in September 2025.

Entities that could apply include payment service providers, overseas deposit takers, and operators of designated financial market infrastructures (FMIs).

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.

Registered banks and licensed NBDTs in New Zealand can continue to apply for ESAS access at any time, the central bank said.