If you have set up a direct debit to pay the Inland Revenue Department (IRD) in New Zealand, this is the status you will see when we have debited your bank account for the agreed amount.
At this point the payment is yet to clear into our account. This is a constraint of the banking system, as there is a holding period whilst the bank confirms the payment can be cleared.
Once the bank confirms the payment we will update your transfer to ‘Awaiting Settlement’.
It can take up to three working days for the bank to clear the funds debited from your account.
You can find more information on transfers to the Inland Revenue Department in the IRD Transfers section.