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Why your business name looks different on NZ bank statements

If your client is receiving a statement description such as "::::XXXX" (or another shortened/coded version) it is because of the client’s bank. This is not an error from Stripe or Rechargly.

Written by Alex Millar
Updated this week

Why is this happening?

This description type is a result of how the New Zealand banking system handles Direct Debits.

  • Bank Formatting Rules: Each bank in New Zealand has its own rules for displaying transaction details. Many banks have strict character limits that automatically shorten or "code" business names.

  • System Limitations: While Rechargly and Stripe send the correct information to the banking network, we cannot control how an individual bank displays that data on a customer's private statement.

  • Automatic Processing: The "::::XXXX" format is often an automated placeholder used by the NZ BECS (Direct Debit) network when a business name doesn't fit the bank's specific layout requirements.

Unfortunately, there is nothing that can be done to resolve this.

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