PeteHusky

Hi

I'm new to the site. Have an employer taking up references so hoping for a job offer in the next week or so. I've been to a migration seminar and got introduced to some companies that help (like removals, banking etc)

I was wondering if anyone has views on the big 4 banks?

I'm leaning towards ASB as I can set up an account before we go, but wanted to check they are good for service, or whether ANZ, Westpac, or Bank of New Zealand are better bets?

What matters to us is people doing what they say they will, good internet and mobile banking, and low fees.

We are likely renting at first (fixed term contract) and then looking to buy if I get a more permanent job, so no mortgage but maybe a 6 month loan. Will have some funds coming regularly from the UK due to renting our own house out.

Would really welcome your opinions / experiences

Thanks!

bearskin

ASB is alright, does all the basics OK. It's an Aussie owned bank so a bit pushy if you have to interact with staff. I don't like going in to a branch for the reason they try to sell you things all the time. We have a mobile lending specialist who comes to us which is excellent, and their advice has always been good so far...

MrsFychan

Rules on.buying are going to be changing, unless you have at least a residency visa and you need to of been living in the country for at least a year you will not be able to buy any existing houses you would be classed as an overseas investor. As for banks their pretty much the same, ANZ should allow set up from UK as I believe most do now.

James Alex

I set up ANZ years before i came but i did set up while in country.... my first mortgage here (2012) was completed using my UK income from a business and was so easy and different to the interrogation no doubt we would have got in UK. I even had the bank manager ringing me up while they were processing awww cute i thought. As above rules are changing overseas investors and AML Anti Money Laundering BS starts to creep in. Add into the mix plenty of mis-selling in Au and investigations of late we are entering an unusual period. BUT working in finance id say that if you had decent deposit around 40% it would sail through...residency visa conditions are usually to only work at the employer 3 months (might have changed or depend on occupation). If you are looking to buy in AK good luck though and lets hope UK housing boom has been kind to you as you will buying at the top of the market with correction anticipated.

Justcol

I use ASB and have nothing but praise for them. I have had very few issues in 10 years but when I have, I have found them to be very helpful
Not sure where the "pushy" comment is coming from, that's not something I have every experienced
I have had personal, business and £ accounts with them, credit cards, easy overdraft facilities, online banking is very good.
Have tried Westpac and ANZ for other accounts but didn't find them as easy to use or accommodating

chocolate cake

NZ banks are much of a muchness. I've been with 3 of the 4 Aussie banks, having started with BNZ opening my account from the UK before migrating. I moved to ANZ for better mortgage rates and cash offer, and since when that deal ran out, again to Westpac who I have now been with the longest as their mortgage rates have continued to be competitive.
The Kiwibank is the main NZ owned one, besides the local ones including TSB (Taranaki) . However Kiwibank work out of post offices, so on the rare occasions you need to visit a bank these days, you'd be almost guaranteed a long queue.

Yeah, who knows with the NZ housing market, it must be a due 20% correction at least in Auckland which would be no bad thing, But the govts seem to have little interest in that happening, and a slow down to gain of a few % in the last couple of years is seen as good news, yet the rise will still be more than any wage growth over the same period.

Bo-Jangles

If your going to be living anywhere outside of main centres, it's probably wise to check which banks are actually available nearby as many banks are closing down small provincial branches.

I agree banks are all much of a muchness and all offer similar products and services - I find the best option is to play a little 'slutty' with banks and jump ship depending where you get the best offer. Quite often when shopping around for best mortgage rates for example you might be required, or be encouraged, to to have your salary paid to the same bank to get a better rate.

I currently have accounts, mortgage and insurance products with ASB, Westpac and ANZ and of them all I find ANZ online banking is the biggest pain in the ass, if you stuff up your password you have to call them or go into the branch to have it reset.

There's rarely any need to go into a branch these days but whenever I do go to an ASB I come out feeling like the I need to check my pockets when I leave. They always 'have a look in the system' to see what products you don't have with them and give it the 'Ohh, Mrs B I see you don't have any car insurance' blarney . Some people I guess would see it as them being helpful but it has the reverse effect on me. I find it a bit of a cheek to be asked so many questions about my finances and they never miss an opportunity to try and up-sell you some more insurance or something that you never knew you needed.

PeteHusky

Thanks everyone. That's really helpful. The ASB guy who replied to us was pretty confusing but I think we'll likely give them a go.

scrubbedexpat094

We've been with Westpac since 2005. Get generally good service, no hard sell to buy other products and a good online banking website. You can open an account from the UK and activate it when you get over here. Not sure why you'd go with a bank whose employee has confused you! Banking in NZ is usually less complex than dealing with UK ones. Seem to have to jump through hoops just to be able to get an answer there, or maybe that's just the RBS!

bearskin

No, no, I think you'll find I made all that up...