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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

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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