Bank Accounts

Old Jan 22nd 2008, 5:04 pm
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Question Bank Accounts

Moving to Nelson in February, just waiting to transfer our funds into the bank account set up for us.

I have heard that we cannot draw funds from our bank until we have an address, I understand this but we will be staying in two different hotels in the first few weeks - the first week our emigration company set up for us as part of our deal - but the second week we want to find somewhere cheaper.

So back to the question, we also have some other money in our current account which I was going to get transferred along with our savings, but now that I won't be able to withdraw funds, I cannot do this as we obviously need to pay for our hotel, possible rental and deposit (when we find one) and we were hoping to buy a car as well as have some money to live on for a bit.

Would I be better bringing over travellers cheques and a little cash for this extra money.

How has anybody else done this, that haven't had accommodation set up.
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Old Jan 22nd 2008, 5:15 pm
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Default Re: Bank Accounts

Originally Posted by juliejamesmcgrath View Post
Moving to Nelson in February, just waiting to transfer our funds into the bank account set up for us.

I have heard that we cannot draw funds from our bank until we have an address, I understand this but we will be staying in two different hotels in the first few weeks - the first week our emigration company set up for us as part of our deal - but the second week we want to find somewhere cheaper.

So back to the question, we also have some other money in our current account which I was going to get transferred along with our savings, but now that I won't be able to withdraw funds, I cannot do this as we obviously need to pay for our hotel, possible rental and deposit (when we find one) and we were hoping to buy a car as well as have some money to live on for a bit.

Would I be better bringing over travellers cheques and a little cash for this extra money.

How has anybody else done this, that haven't had accommodation set up.
MODS..can you move this to the NZ section ...
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Old Jan 22nd 2008, 5:17 pm
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Smile Re: Bank Accounts

SORRY!!

Originally Posted by Ray View Post
MODS..can you move this to the NZ section ...
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Old Jan 22nd 2008, 6:10 pm
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Wow he looks angry
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Old Jan 22nd 2008, 6:15 pm
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Originally Posted by wimpy View Post
Thats my nice friendly face
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Old Jan 22nd 2008, 6:49 pm
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Default Re: Bank Accounts

Customs allow you to carry up to £10k in cash. Any more and they look at you as a drugs dealer!!!
That is the Euro law. Dont know if NZ any different.
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Old Jan 22nd 2008, 7:26 pm
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Default Re: Bank Accounts

Originally Posted by juliejamesmcgrath View Post
Moving to Nelson in February, just waiting to transfer our funds into the bank account set up for us.

I have heard that we cannot draw funds from our bank until we have an address, I understand this but we will be staying in two different hotels in the first few weeks - the first week our emigration company set up for us as part of our deal - but the second week we want to find somewhere cheaper.

So back to the question, we also have some other money in our current account which I was going to get transferred along with our savings, but now that I won't be able to withdraw funds, I cannot do this as we obviously need to pay for our hotel, possible rental and deposit (when we find one) and we were hoping to buy a car as well as have some money to live on for a bit.

Would I be better bringing over travellers cheques and a little cash for this extra money.

How has anybody else done this, that haven't had accommodation set up.

We set up a bank account from England in which to transfer over money when we got here. On arrival we walked into a branch, showed our passports. All ok. We gave verbal details over the counter and the guy entered them into a computer and we were ok'd for Eftpos cards and cheque book etc. We gave our NZ PO Box address, which we'd also set up whilst in England, and the address of the motel we were staying at for the first 2 weeks. In fact as far as I can remember we used the motel address for heaps of stuff as a temporary measure. No-one seemed to bat an eyelid over this. Once we'd sorted permanent housing we updated the address. We came over with WTR visas.

We also brought with us cash to use for immediate things, like buying a car, etc. Like you we weren't too sure what was and wasn't possible at the time so brought money over in hand luggage. $10k is the limit.

Last edited by TeamEmbo; Jan 22nd 2008 at 7:28 pm. Reason: Added a bit
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Old Jan 23rd 2008, 2:27 pm
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Default Re: Bank Accounts

We have a Nationwide flexaccount which allows us to take out around $800 epr day with out charge and at a business rate.
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Old Jan 23rd 2008, 3:15 pm
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Default Re: Bank Accounts

Which bank have you opened your account with? What you've described doesn't sound right to me. We are about to go and have an account with Westpac and they have the same process TeamEmbo have described. I would go back to your bank and and double-check this.

Also you can set up a PO box in advance which may help to give you a stable address.

Good luck
Alison
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