How and when interest is charged
Late payment interest is charged when a levy invoice isn’t fully paid by its due date. It’s applied to all overdue amounts.
Late payment interest
Interest is charged under section 250 of the Accident Compensation Act 2001 (the Act).
Late payment interest has previously been referred to as ‘penalties’ or a ‘late fee’.
The late payment interest rate is 1% per month compounding, set by a regulation. You can refer to that Act on the New Zealand Legislation website.
New Zealand Legislation website
If you have any questions about late payment interest applied to your account:
Email collections@acc.co.nz
Call 0800 729 538 or +64 4 805 4296 Monday to Friday between 8am – 6pm.
We may refer unpaid debts to an external collection agent. If they’ve contacted you and you’re unsure whether it’s legitimate, please get in touch with us to verify.
Instalment interest
ACC offers the option to pay your levy invoice using an instalment plan of three, six or 10 months.
Instalment interest may be applied to each instalment in your plan. It’s charged under section 234 of the Accident Compensation Act 2001 (the Act).
Instalment interest has previously been referred to as an administration fee or admin fee.
The current instalment interest rates are:
| Interest rate | Plan term |
| 0.00% | 2-6 months |
| 2.73% on the total amount of levy | 7-10 months |
The rates are set by the Accident Compensation Act 2001, you can see these on the New Zealand Legislation website.
New Zealand Legislation website
To set up an instalment plan log into MyACC for Business, or view more information here.
If your invoice has already past its due date, you may still be able to pay your levies by instalment by contacting us:
Email collections@acc.co.nz
Call 0800 729 538 or +64 4 805 4296 Monday to Friday between 8am – 6pm.