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Clearing Systems

High Value Clearing System

The High Value Clearing System (HVCS) uses its own SWIFT based system to settle payments and interchange payment information between banks.

Payments made using HVCS are fast and cannot be reversed. This means it is an efficient and reliable way to make large payments quickly, and is often used for house settlements.

Payments NZ sets the rules and standards for how HVCS transactions are made, including what payment information needs to be sent and the timeframes for completing the transaction.

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