ANZ or BNZ???

Old Oct 24th 2010, 8:05 pm
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Default ANZ or BNZ???

With a few months until we move I am looking to open a bank account in readiness and I was wondering if anyone had any thoughts on which is better either from a performance or security point of view?

We are looking to make use of current and savings accounts as well as a mortgage.
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Old Oct 25th 2010, 6:18 am
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Default Re: ANZ or BNZ???

or westpac or ASB ???
its only a bank, they're all all the same
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Old Oct 25th 2010, 6:34 am
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Default Re: ANZ or BNZ???

We're with National Bank, they've been great with us.
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Old Oct 25th 2010, 7:04 am
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Default Re: ANZ or BNZ???

We are with BNZ. No complaints from us.
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Old Oct 25th 2010, 8:04 am
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Default Re: ANZ or BNZ???

Originally Posted by RobDon View Post
We are with BNZ. No complaints from us.
Personally, I would choose Kiwibank or ASB for branch banking, or Bankdirect for internet-only (fee-free).

All the five main banks (Kiwibank, ASB, ANZ, BNZ, Westpac) have branches in most main towns. They also all have the same credit rating (AA). A good credit rating is important, as there is no permanent deposit insurance in New Zealand (unlike in the UK).

Current interest rates and credit ratings for all NZ bank instant access accounts are here:
http://www.interest.co.nz/saving/call-account

The last bank customer satisfaction survey by Consumer.org.nz was in 2007. TSB and PSIS came top for phone/branch banking:
TSB > PSIS > ASB > National Bank > BNZ > ANZ > Westpac

PSIS and Bankdirect came top for internet banking:
PSIS > Bankdirect > Rabobank > TSB > Kiwibank > ASB > BNZ > National Bank > Westpac > ANZ

Consumer.org.nz also has a database of the fees for 86 NZ bank accounts, but you need to be a member to access it. An online Consumer.org.nz subscription costs $25 for three months, and I can recommend it - reviews and tips on banking, insurance, property, utility companies, cars, all other products... I found it really useful when I first arrived in NZ.
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Old Oct 25th 2010, 9:26 pm
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Default Re: ANZ or BNZ???

BNZ have been brilliant for us.

They have an excellent migrant banking service which I can't fault.
I was able to open an account for my use during our recce visit earlier this year and it was really simple. They also opened a separate one for my husband when he then visited in July.

When we arrive in November ito live t will be converted to a joint account.

They offer very secure online banking with a netguard card.

Visit their website for details of migrant banking.
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Old Oct 25th 2010, 10:12 pm
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Default Re: ANZ or BNZ???

National for us, was ASB but we don't have a local ASB Branch.
We find them great & we have an E Saver account with them, which gives you 4% interest if you deposit each month without withdrawing.
Also they are good for depositing foreign cheques i.e. money sent over for birthdays, Christmas etc. They usually clear within 3 - 5 days! used to take 4 - 6 weeks with ASB
No charges for altering auto payments online, unlike some of the others.

Last edited by mickey_d; Oct 25th 2010 at 10:16 pm.
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Old Oct 25th 2010, 11:18 pm
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Default Re: ANZ or BNZ???

Originally Posted by mickey_d View Post
National for us, was ASB but we don't have a local ASB Branch.
We find them great & we have an E Saver account with them, which gives you 4% interest if you deposit each month without withdrawing.
Also they are good for depositing foreign cheques i.e. money sent over for birthdays, Christmas etc. They usually clear within 3 - 5 days! used to take 4 - 6 weeks with ASB
No charges for altering auto payments online, unlike some of the others.
Yes, I've heard good things about National Bank - we've had a horrid time with ASB and I'll be changing as soon as I can get an appointment down the bank with OH to sort the joint account out!

One thing to also bear in mind (and I have found out the hard way) that you can't just cancel a direct debit as the company can still take it out of your account. So if you are in dispute with someone over a bill, for example, they can still take the money out of your account even if the bill is totally incorrect and you have cancelled the amount ( this is me right now!). There is also no direct debit guarantee. The best thing to do is set up an automated payment which you control - this is according to my in laws.
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Old Oct 27th 2010, 5:05 am
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Default Re: ANZ or BNZ???

BNZ for me despite having worked for 2 of the other banks in NZ over the last 5 years.

They have an excellent product called Total Money where you can have a number of accounts linked together (eg joint account, savings account, personal accounts etc) that offset the balance of your mortgage account so you only pay interest on the net figure - fantastic way to pay your mortgage off early if you ask me.
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Old Oct 27th 2010, 5:47 am
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Default Re: ANZ or BNZ???

Choose one by it's corporate colours! I love green and am very happy with National. Can't stand that yukky sh!tty brown colour of ASB
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Old Oct 27th 2010, 9:08 am
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Default Re: ANZ or BNZ???

Originally Posted by mickey_d View Post
Also they are good for depositing foreign cheques i.e. money sent over for birthdays, Christmas etc. They usually clear within 3 - 5 days...
That´ll be because they are owned by LloydsTSB and no doubt use them for UK cheque processing...
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Old Oct 27th 2010, 10:05 am
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Default Re: ANZ or BNZ???

Originally Posted by simonsi View Post
That´ll be because they are owned by LloydsTSB and no doubt use them for UK cheque processing...
I think they have been owned by ANZ for a few years now, used to be LloydsTSB.
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Old Oct 28th 2010, 10:06 am
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Default Re: ANZ or BNZ???

Originally Posted by mickey_d View Post
I think they have been owned by ANZ for a few years now, used to be LloydsTSB.
Yep, indeed been owned by ANZ for some years now, though still use the old Lloyd's bank logo.

Kiwi bank seem to offer the best rates and accounts, but the disadvantage is their branches are the NZ Post Offices, so you're queueing with everyone posting parcels, paying vehicle licenses etc.
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Old Oct 30th 2010, 7:16 am
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Default Re: ANZ or BNZ???

Did anyone retain a bank account in the UK when they first left and if so do you have any recommendations. We are speaking to First Direct at the moment as RBS and their online account doesn not feel as safe.
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Old Oct 30th 2010, 8:22 am
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Smile Re: ANZ or BNZ???

I’m with ANZ, they are shit but you get the service you pay for TBH. Can’t argue with free transactions and stuff like that that other banks rip consumers off on .

Also they do a lot of business stuff which works for me .
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