theguitardoctor

Hi all,

Anyone know how we can open an NZ bank account from here in the UK? It will be easier to transfer the funds this way......

cheers, Rich.

Roger

You can join ASB in the UK. Been there today (via Commonwealth Bank) to put in my application form. They are just an admin office rather than a Bank. Apparently I will have an account in a fortnight. Will transfer some money into the account available for use in NZ.

They will also set up a currency converting sterling account for you if required.

Tel 020 7710 3990.

Roger

theguitardoctor

Thanks Roger,

I'll give them a call......

cheers, Rich.

Ben.M

I opened an ASB Migrant Account some months ago as I though it might show some commitment for my LTBV application. It doesn't get activated as such until you transfer some funds to NZ. My only concern is that they insist that you transfer the funds through them although you will probably get a better exchange rate transferring through one of the specialist companies. Unless they can give me an equally good (bad?) rate on the day I might just transfer a small amount to activate it and then transfer my main funds through a specialist.

They'll also arrange a credit card for you in advance if you transfer NZ$50,000 prior to departure plus have a letter of introduction from your bank and a statement of your assets, or you have an employment contract plus letter of introduction and an NZ address.

Depending on the exchange rate at the time and the trend it may be worth considering transferring it into a Sterling account in NZ in the hope that the exchage rate will improve before you need it...

Ben

theguitardoctor

Hi Ben,

I can transfer sterling straight to a NZ bank then? Hmm, that's a new one to me, but do go on........which banks offer this service? Can money be paid in from here? What kind of charges do they make. I was going to open an account in NZ with a small amount solely so that I could transfer a larger amount through someone like Ozforex.......

Rich

Ben.M

Opening a Sterling account in NZ has been mentioned here before. Can't remember the details off hand but I would have thought that one of the international banks like HSBC that has branches in both countries could do it fairly easily. Charges should be minimal if any at all as it would just be a straight transfer, especially if between branches of the same bank.

I'm sure someone on here who has done it could provide details.

Ben

theguitardoctor

Thanks Ben,

I'll have to try and see if there's another Bank. HSBC is only in Auckland according to the branch I called in at. I'm sure I can sort something out though.

Rich.

TIZUS

We opened an account with www.nationalbank.co.nz on line, they called us back within ten minutes of filing in the on line application form really helpful. All we had to do was transfer some funds and once we arrive in Nelson take in some ID.

Cheers Tori

Flyboy

Yep, I am with National too, hassle free and a pretty good service over here from what I can tell. Turn up with your ID when you arrive and they will have cheque book and cards all waiting for you ready to go!!

Ben.M

Including credit card? If so, did you have to deposit a minimal amount?

Thanks,
Ben

Flyboy

Dunno mate, I don't have a credit card - I just use EFTPOS down here. Try their website though as this is pretty helpful. You can also call them freephone from the UK - can't remember the number but it's on the website.

Roger

ASB has a sterling account facility.

I intend to deposit only enough to keep me going. Maybe worth a bit more if the exchange rate keeps going down. What do you think?

Check out www.consumer.org.nz for info on banks.

Roger

Ben.M

Those of us moving to NZ from the UK and used to free banking are going to be in for a shock! The introduction of Kiwibank is shaking things up a bit but there's still no such thing as free banking.

Interesting review here, especially the consumer profiles.

Ben