miss_ck

Hi
Can anyone tell me how easy it is to set up a bank account in NZ please?

When we arrive we have no address (haven't sorted anything further than the first two nights at the moment) and no job offers. What information would I need to set up a bank account and how flexible are they re the address situation?

And, I have heard that you get charged for using cash machines - is this right and what's the best way to get round it?

And one final question - can you set it up from the UK and if so, is it worth it?

Any advice much appreciated.
Thanks

Am Loolah

Hi Miss_ck

We set ours up from the UK with Kiwibank. It was pretty straightforward, from what I can remember we printed off a form for setting up an account from overseas, filled it out and faxed or posted it with copies of our passports and UK bank statement to Wellington. They then emailed a letter of confirmation which we presented at our local branch - which actually is a Post Shop and hey presto! We'd used HiFX to transfer some funds into it before arriving. Think it took 3 days to then be couriered our EFTPOS cards. Oh, you have to use HiFX in NZ as Kiwibank don't have a SWIFT code for overseas transfers.

We used Kiwibank as they have a Frontrunner account which if you maintain a balance of $4,000+ there are no charges for using EFTPOS, on-line banking and their cash machines.

We've been very happy with them thus far!

teambwr47

Its easy once here in our experience.....

We are in a temp address, renting a holiday house and walked into an ASB branch opened an account there and walked out with our EFTPOS cards and visa cards followed just days later.

You do get charged for banking here, free banking is a new concept here but there are various accounts. We decided to go with a monthly charge of $12 for an unlimited account that means we can use a cash point or the counter service as well as other things as much as we want with no extra charged.

We were very surprised how easy it was to open accounts here.......

P2L

If you are planning on going to the NZ Expo in either London or Manchester, you can set up an account with either Westpac or National ( those were the 2 choices last year anyhow). All you need to take with you is your passport or Drivers licence, and you don't need to deposit any funds into the account before you arrive in N if you don't wish to.

helinuk

We have just set up an account from UK with Westpac in Tauranga. We talked to their UK office (migrant banking dept.they sent us forms to fill in, we scanned them back along with passport copy, visa copy, a utility bill proving our current address. We didn't have to give a NZ address.
HTH
Helen

jenjag

It is really easy. On the day we arrived we walked into Kiwibank and set one up there and then, we had no address other than the hotel and they were fine with this, just needed 2 forms of ID. Had to wait about 3 days for cards to arrive. We pay $5 a month for unlimted withdrawls and payments. You should be fine. Just make sure you have enough cash to last you a week or so while money transfers etc.

miss_ck

Thanks everyone, I'm a bit less worried about it now.

Much appreciate your advice and experience.

Wessa

So, if i set up an account when arriving in Wellington, can i then transfer money from my Barclays account in the uk?. Can it really br as simple as that?


Gary

hazeandsteve

We left our bank manager in UK a completed and signed international funds transfer form authorising the shifting of our house money to the NZ account we had set up.
All we then did was phone him up to process it when we got depressed about the tumbling exchange rate.
He told us it wasn't normal protocol, but made it his professional decision to help us out. Nice to see someone making a decision instead of "computer says no".

luvwelly

Not all bank staff will be as accommodating as Haze and Steve found. If I were you, I'd try to open the NZ account from the UK over the internet so you have an account number in advance and authorise your international transfer of the funds just before you leave the UK....(rates an issue I know).

I opened an account with National Bank (love them so far) after I'd arrived but only because most of my funds were in a 'Euro country' Bank Account from which I was able to make the transfer myself using internet banking...you can't do this with Barclays Internet Banking (also have UK Barclays account so know this).

The other option is to move your funds to a trusted relative's/solicitor's account and then get them to make the transfer when you know your NZ Bank details.

Don't forget to arrange cash because even if you come out here with a job..it could easily be 6 to 8 weeks before your first salary credit and so you do need some cash. I think you can use your UK Switch (eftpos equivalent) to draw small amounts from ATMs but can be expensive.

Wessa

Ok, thanks.
so what are the big named banks in nz? surely its good to go with them for locations.