Campbells

Greetings,

More questions from me !!

Would appreciate some input regarding the best bank for us to open an account when we get to NZ.

If possible please explain why you feel that your (or other bank is better) or if you feel like warning us of banks to avoid go right ahead. :scared:

It would be most interesting to hear from other new Kiwis re the whole new credit rating thing and how folk deal with those kind of situations over there. We intend to bring over (hopefully, waiting for our house sale) around $500k so we will be in the position to give a healthy deposit for a home if & when we buy in NZ.

Your input is much appreciated a great deal.

Have a great weekend folks.

Campbell.

Pippa

Hi Campbell,

Id definately suggest to go with The National Bank of New Zealand.

They used to be a slice off of Lloyds Bank, but its been sold on now to ANZ I think. Anyway that doesnt matter.

Excellent service before we came over ie setting up account, transfering money. Cards, Chq book etc were all ready and waiting for when we arrived.

Our local branch is really great, same staff all the time so you get to know them, very friendly and approachable. Easy to get appointments with your personal advisor (every customer has one). And more than happy to explain the new things that you might not be used to from the UK.

I wouldnt change them for both my current account and Goal Saver (savings) accounts. Would shop around tho for a mortgage as theres a lot of rate slashing going on at the moment...usual story. It pays to shop around, but were brits were used to that ...eh??

Good luck. Im sure lots of other people have there own fav's.

Pippa xx

Linda Maxwell

The Kiwi bank was the only one who did not charge you for using your EFTPOS card, (switch), the mortgage rates were the best also. I have been back since October, so they may have changed. Kiwi bank is no use for transfering money from UK though.

newkiwi

We also opened an accouint with National Bank before moving to NZ, and they had cheque book, ATM card etc all ready for us when we arrived. On arrival, we submitted our credit card application through the lady who was managing our account, and she basically approved a CC for us, even though we were not Perm Residents. However,, almost all the banks' official line is that you need to be a PR b4 issuing you with a CC. So it would be a good idea to build up a relationship with an individual and submit through them.

The other two banks i would recommend is Westpac and Asb Bank. Both are good, but again I think a lot depends on the individual at the bank you get to deal with. With a large deposit you should be able to negotiate a home loan straight away, although you may have to show you have an income before you get approval.

Hope this helps

annaerb

Try looking at www.asb.co.nz OR www.anz.co.nz, www.bnz.co.nz which are the three main banks.
You can set up your bank accounts online and transfer money using Internet banking.

TIE

There are 4 major banks here (National Bank of NZ (reccently bought/merged with ANZ (Aus NZ Bank)), but keeping sep. brand & branch network so far, Bank of NZ & Westpac.

5th (in size, just behing the other 4) is ASB bank, and then you start to run out.

All of the big 5 do charge fees for just about everything - although you can negotiate if you are shopping for a mortgage. Ask for fee-free personal banking & minimal (c $10/month) fees on mortgage account.

Kiwibank is recent venture of NZ Post, aimed mainly at "lower income families". They offer largely fee-free banling & good mortgage rates.

Online banking servces are very good here, and is the way to go for most day-to-day stuff. Branch personnel ususally very friendly & helpfull - even if they are trained to sell you another product if they can when you do go in.

For the mortgage we used a very good mortgage broker Bradley Associates(ex SA lady, Hilary Bradley, been here ages). She explained very well and got us the first mortgage & helped us in switching to another at the end of the first term. website (no I am not associated with them but they were very helpful and helped on tips on what to negotiate for in terms of rates & other concessions.

Good luck

Campbells

THanks for tat TIE,

Will be checkin' it out next week. So if you see someone in the bank wearing a Campbell tartan kilt you'll know it's me (not unless another of the clan happens to be in the bank at the same time

Cheers mate

Campbell