Kezzar

Hello

We hoping to be in Wellington in early December

Can anyone tell me please how easy (or hard) it is to open up a bank account in New Zealand? What is required from us?



Kezzar

rushmere

It's extremely easy. We recently opened an account with Kiwibank from the UK, and it took about a week. Details here. Other NZ banks seem to have similar arrangements.

shelloid

yes it is very easy. We moved to Wellington and opened a bank account with BNZ before we came over.
So far I've been impressed with them....although OH has now had to start banking with ASB and seems to think that they're good also.

here's the link for opening a bank account with BNZ from overseas: https://www.bnz.co.nz/portal/site/bnz/migrant

shirl

Hi , when we came we went to the ASB with identification and opened an account on the spot. They may do a check from the UK but I don't think they did with us. We had an eftpos card straight away and deposited our money in there and then. They gave us a savings account and a general everyday account with pin numbers and internet access. All in all it took about half an hour. We subsequently both got credit cards some months later when we applied for them.

RobDon

Ditto the above!
We did it with BNZ! No complaints from us!

janeyk

We opened one before we arrived with Westpac and we have no complaints they always are helpful in any branch we have been in everything is quick and easy so different to UK banks

joannii

Don't mean to high-jack your thread but it is on a similar vein.

I have read that in NZ you don't get a Debit Card when you join a bank unless you ask and that you can be charged for every transaction, is this true?

If so what does everyone do? Take out huge sums of cash and pay cash for everything?



Thanks.

simonsi

REALLY easy, open online before you head to NZ, have a short telephone call when they ring you back to confirm you are a person and not a robot. Then arrange to validate the account in NZ by presenting your passport at the branch of your choice. Update addresses when you have them.

We used Westpac.

simonsi

Most banks seem to have a range of accounts that have various mixes of fixed and transaction fees so you choose how you pay for your banking. No free lunch but then there isn´tz in the UK either its just more transparent here.

Check out the banks websites, they all list their charges for you to see and compare.

shirl

I had a debit card last year from the ASB as they are relatively new to NZ. I don't get charged for every transaction but then I have never gone overdrawn so wouldn't expect to unless I did. I use it like my eftpos card but mainly for internet and phone purchases and use my eftpos for everday stuff. I rarely use cash and always use eftpos. You will get charged for using another bank's machine but I usually get cashback from the supermarket when buying my groceries if I need a few dollars.

shelloid

yep, it's EFTPOS that everyone uses here. EFTPOS = electronic funds tansfer at point of sale (or something to that effect).

To us everyday folk, it works in the shops like switch/maestro/electron/etc. do inn the UK. Just means you can't use it for online / telephone purchases. But I have noticed a few websites only accept VISA and not VISA debit anyway. (unless I'm wrong and when they say VISA they include the VISA debit as well!?)

simonsi

VISA normally includes VISA Debit too, haven´t found anything different for several years now, not on any websites I have bought from anyway.

shelloid

oooh, that's handy to know....shame I don't have a VISA debit, but OH does. Just means I'll have to spend his money instead. Like I said, what a shame!

alchris

were with Kiwibank and they dont charge for transactions if you do online banking. Quick and easy to sort out, you do pay if you use another banks ATM. Dont forget to get your IRD number(can take up to 10 days to arrive, forms avaliable from post office) and give when you open account or you will be charged 38%!!
Good luck

sr71

No, as someone mentioned, everywhere generally has EFT-POS facilities which is a debit card system and NZ is by far one of the most ubiquitous countries for using that sort of system, they were also one of the first to adapt cards and pins for POS.

Most banks also now have Visa or Mastercard debit cards too.

I've always found NZ banks to be far better and generally more advanced than the UK ones .