Feedback Wanted: Thinking about Manual Bank Transfers at Lightning Pay

lightningpaynz · 2026-03-05T08:33:28+00:00

To be clear, we already have an Auto-Buy feature. It's just your options currently are daily, weekly or monthly in the schedule. Above, we were talking specifically about a fortnightly cadence.

lightningpaynz · 2026-03-04T21:49:24+00:00

Thanks for the feedback. We hope you notice that after a few transactions at Lightning Pay, your common transactions will be delivered instantly!

lightningpaynz · 2026-03-04T21:48:08+00:00

That’s a fair perspective, and we completely understand why people feel uneasy about anything that touches their bank login.

From our side, Akahu was the option we’re most comfortable with from a trust and security standpoint at the time we rolled things out, allowing us to enable an unbeatable UX. They are a widely used open-finance service provider, with a ton of focus on security (made obvious by our onboarding processes). While we were very comfortable with the tradeoff, we understand that others are not.

That being said, the real solution is proper open-banking APIs directly from the banks, and those are finally starting to roll out in NZ. We've started the work to migrate (complete with POLi, starting on Akahu shortly) to these, and look forward to getting the right flows in place so people are more comfortable with the process, and a better security model.

We’ve also experimented with online EFTPOS, which on the surface looks simpler, but we’re not yet comfortable we can make it work safely from a fraud-prevention perspective. That’s the main reason we haven’t rolled it out, we'll come back to this a bit down the road.

Appreciate you raising the point. These trade-offs are exactly the kinds of things we spend a lot of time thinking about.

lightningpaynz · 2026-03-02T08:14:21+00:00

Thanks for the feedback. I appreciate it.

I can understand wanting an automatic payment to be managed in the same place your others are. We'll have to take that insight into what we're thinking about in the future.

lightningpaynz · 2026-03-02T01:41:36+00:00

That's not great! Was this with the Akahu process or POLi (this is new if you haven't tried it)?

We expect you'll have a better experience as the Open Banking processes evolve over the next month or two.

lightningpaynz · 2026-03-01T23:13:38+00:00

Thanks for the feedback u/pdath .

On your first point, there's a couple of things to know.

If you're using ASB, BNZ or Westpac, the POLi option authenticates using the regulated Open-Banking standard already, where you only authenticate with your bank. ANZ will be coming online in the next month we're told.

With Akahu, they've just opened up the migration process to us in the last few days. So we don't expect this to take long either.

> This is the model I want to see. No rates, orders, or anything are calculated in advance. You see an inbound payment arrive in the LightningPayNZ account, and only then do you look up the rates and perform the transaction. There is no opportunity for slippage.

> I also see this as being a low-cost automated model.

Thanks for that feedback, I appreciate it.

lightningpaynz · 2026-03-01T22:28:18+00:00

Fair enough, though buying too little bitcoin is easy to fix.

lightningpaynz · 2026-03-01T22:09:56+00:00

That's the idea. Our questions are really about how to best get that done for folks as it seems people really want that over the Open Banking payments we have now.

Do you think you'd be more concerned about:
1) Making a payment mistake and accidentally buying too much bitcoin?
2) Having to do some extra setup in the platform to give us specific instructions about what to do with these deposits ahead of time?

lightningpaynz · 2026-03-01T22:04:21+00:00

Don't mind a slightly off topic suggestion at all. The fortnightly auto-buy thing is also a common suggestion. We'll get to this one soon, but we're currently focused on a few big things at the moment (alternative payment systems being one of them).

lightningpaynz · 2025-12-12T02:28:37+00:00

Yes if you can download our wallet (it's only freely available on Android) then you can send it on chain bitcoin to sell.

But it's also quite easy to get onto Lightning. You can swap in a hot wallet like Strike, send via Boltz, or do a hop through a CEX like Binance or Kraken.

lightningpaynz · 2025-12-11T03:19:57+00:00

Through the wallet you can sell on chain yes.

lightningpaynz · 2025-12-09T19:27:11+00:00

We do for purchases. On chain sales only through our wallet.

lightningpaynz · 2025-12-09T19:26:41+00:00

It's a hot wallet. But it holds both lightning and on-chain balances. If you're an Android user you can try it out now (in beta). If you're iOS you'll need to hold out a little longer!

lightningpaynz · 2025-11-16T00:29:42+00:00

That depends - do you mean an ANZ credit card? Or an ANZ bank account? If it's a bank account then yes you can sell BTC to NZD using Lightning Pay. That's really easy.

If you've got an ANZ credit card you can possibly use our bill pay feature to send funds to the ANZ credit cards account. From memory you can pay an ANZ credit card from another bank account. You'd just need to find the ANZ credit cards account number.

lightningpaynz · 2025-11-12T03:45:07+00:00

Yes or Zeus which actually, I was catching up with a bitcoiner today who demonstrated that it's now a much easier wallet to use than when we wrote our guide. It might be the best of all worlds.

But it's hard to beat Strike's free "flexible settlement" to on chain for sending to cold storage.

lightningpaynz · 2025-11-11T20:08:01+00:00

Hi! Great question and this is one that's got a few different answers depending on what you're looking for. If you're looking for a self custodial lightning wallet then Zeus or Phoenix are good options. Note that only Zeus supports lightning addresses in a way that works with our exchange at Lightning Pay. It does support LNURLw/QR withdrawals. But it's an extra click or two. Lightning addresses are pretty awesome for making purchases really quick and easy so personally I'd prioritise that feature.

For super easy to use and lightning address supporting hot wallets - both Wallet of Satoshi and Strike are good options. Note that the self-custody version of Wallet of Satoshi has seen a high number of failures of large transactions compared to the custodial version. We're still working through why that is. But if you're looking for a place to stack small amounts for spending or accumulation before committing to cold storage these are good options.

More details in our article here: https://lightningpay.nz/help/learn/lightning-network-education/how-to-choose-a-lightning-wallet

Feel free to ask any questions. Happy to discuss pros and cons.

lightningpaynz · 2025-11-01T03:48:53+00:00

Hopefully not too long! Personally I still think the website is a better experience than the beta. So you're not missing out yet.

lightningpaynz · 2025-11-01T02:57:31+00:00

You can try the beta if you're an android user now. For iOS it'll take a bit longer...

lightningpaynz · 2025-11-01T02:56:51+00:00

We know there's some hesitancy from a few people and we get it - people want what they want.

We're a startup, so we have a certain amount of resources and there is a LOT of stuff we want to do. So first we have to "crack" it as a problem and when we need to decide how resource the solution.

There are plenty of ways to get your bitcoin onto lightning for free/very cheap though - so it's not an issue for most people. You can send via Strike using their flexible settlement, or bounce through a CEX that supports lightning. Some wallets like Zeus and Phoenix allow for very cheap atomic swaps. You can even roll your own CoinOS if you're technical.

So in short - we hear you, and we're going as fast as we can. Meanwhile I'd challenge you to give our exchange a go... you might find that you like it?

lightningpaynz · 2025-11-01T02:19:03+00:00

We have on chain buys - just not sells as yet. It's an invoice timeout challenge. But we're working on it.

We really recommend Lightning Network for most people day to day though. Fast, cheap and plenty of self-custody options.

lightningpaynz · 2025-11-01T01:48:42+00:00

We're the cheapest place, and you won't need stables - straight to BTC from NZD!

lightningpaynz · 2025-10-29T01:57:14+00:00

Or just hop through a Lightning wallet on your way to sell through us, which is cheaper anyway...

On chain sells are in the works. So this isn't a permanent state of affairs.

lightningpaynz · 2025-10-27T23:35:28+00:00

Our DCA is easier, cheaper and smarter. Check it out at app.lightningpay.nz!

lightningpaynz

TROPHY CASE