Go Back  British Expats > Living & Moving Abroad > New Zealand
Reload this Page >

HELP - Setting up and activating an NZ bank a/c from UK?

HELP - Setting up and activating an NZ bank a/c from UK?

Old Oct 3rd 2016, 7:54 am
  #1  
Just Joined
Thread Starter
 
Joined: Dec 2014
Posts: 15
Jpearson92 is an unknown quantity at this point
Default HELP - Setting up and activating an NZ bank a/c from UK?

Hi all,


first of all apologies if I can find my answer elsewhere... I'm currently awaiting my visa application to be processed by INZ and the next thing on my checklist is setting up a bank account in order to apply for my IRD number.

I have read conflicting information on the good old web regarding this and need clarification as to whether you can set up and activate a NZ bank account from the UK? I am really keen to get a 'fully functional' bank account up and running before i arrive so that i cant get the IRD number and avoid paying tax at the default rate

Also, are HSBC a popular bank in NZ? thinking of transferring my UK current account to them so that i can transfer easily using just the 'one' bank.

Any help would be appreciated.

Thanks
Jack
Jpearson92 is offline  
Old Oct 3rd 2016, 8:56 am
  #2  
BE Forum Addict
 
Joined: Jul 2007
Location: bottom of the world
Posts: 4,124
Justcol has a reputation beyond reputeJustcol has a reputation beyond reputeJustcol has a reputation beyond reputeJustcol has a reputation beyond reputeJustcol has a reputation beyond reputeJustcol has a reputation beyond reputeJustcol has a reputation beyond reputeJustcol has a reputation beyond reputeJustcol has a reputation beyond reputeJustcol has a reputation beyond reputeJustcol has a reputation beyond repute
Default re: HELP - Setting up and activating an NZ bank a/c from UK?

HSBC, no, not in NZ
Main banks are ANZ, ASB, Westpac, TSB, Kiwi bank

Getting a IRD number doesnt take long, I applied, waited a week, rank them up and they gave it me over the phone
Justcol is offline  
Old Oct 3rd 2016, 9:09 am
  #3  
BE Enthusiast
 
Kotare's Avatar
 
Joined: Jan 2014
Location: Pakaraka
Posts: 713
Kotare has a reputation beyond reputeKotare has a reputation beyond reputeKotare has a reputation beyond reputeKotare has a reputation beyond reputeKotare has a reputation beyond reputeKotare has a reputation beyond reputeKotare has a reputation beyond reputeKotare has a reputation beyond reputeKotare has a reputation beyond reputeKotare has a reputation beyond reputeKotare has a reputation beyond repute
Default re: HELP - Setting up and activating an NZ bank a/c from UK?

As far as I know you can set up an NZ account and pay funds in, but not 'activate' it until arrival. That involves walking in the door with proof of id and walking out 30 mins later ith etpos card etc.
Kotare is offline  
Old Oct 3rd 2016, 9:16 am
  #4  
Just Joined
Thread Starter
 
Joined: Dec 2014
Posts: 15
Jpearson92 is an unknown quantity at this point
Default re: HELP - Setting up and activating an NZ bank a/c from UK?

Thanks for your replies

One problem I envisage is that i will be in temporary accommodation for up to a month - is their a way round giving an address?
Jpearson92 is offline  
Old Oct 3rd 2016, 9:20 am
  #5  
BE Enthusiast
 
Kotare's Avatar
 
Joined: Jan 2014
Location: Pakaraka
Posts: 713
Kotare has a reputation beyond reputeKotare has a reputation beyond reputeKotare has a reputation beyond reputeKotare has a reputation beyond reputeKotare has a reputation beyond reputeKotare has a reputation beyond reputeKotare has a reputation beyond reputeKotare has a reputation beyond reputeKotare has a reputation beyond reputeKotare has a reputation beyond reputeKotare has a reputation beyond repute
Default re: HELP - Setting up and activating an NZ bank a/c from UK?

Originally Posted by Jpearson92 View Post
Thanks for your replies

One problem I envisage is that i will be in temporary accommodation for up to a month - is their a way round giving an address?
Shouldn't be - don't mention temporary. My wife used a motel address ok, and but may depend on the Bank/branch. Once activated you can change the address on line as needed.
Kotare is offline  
Old Oct 3rd 2016, 10:17 am
  #6  
BE Forum Addict
 
escapedtonz's Avatar
 
Joined: Jun 2012
Location: Te Puna, Tauranga
Posts: 1,469
escapedtonz has a reputation beyond reputeescapedtonz has a reputation beyond reputeescapedtonz has a reputation beyond reputeescapedtonz has a reputation beyond reputeescapedtonz has a reputation beyond reputeescapedtonz has a reputation beyond reputeescapedtonz has a reputation beyond reputeescapedtonz has a reputation beyond reputeescapedtonz has a reputation beyond reputeescapedtonz has a reputation beyond reputeescapedtonz has a reputation beyond repute
Default re: HELP - Setting up and activating an NZ bank a/c from UK?

It's easy to set up a bank account or accounts from overseas. You can transfer money in but until you've shown up at a branch in person and gone through the ID process you cannot activate the account.
We set up a PO Box address at a local NZ Post Shop and used that address for the bank and everything else just until we found a more permanent rental.

You cannot apply for an IRD number until you are physically here in person and assuming you apply on the first working day after arrival you should have sufficient time until the first pay run goes through. In all honesty you aren't going to lose a massive amount in tax by not having an IRD number for that first paycheck.
escapedtonz is offline  
Old Oct 3rd 2016, 10:24 am
  #7  
It is what it is Member
 
simonsi's Avatar
 
Joined: Feb 2010
Location: Blockhouse Bay, Auckland
Posts: 2,795
simonsi has a reputation beyond reputesimonsi has a reputation beyond reputesimonsi has a reputation beyond reputesimonsi has a reputation beyond reputesimonsi has a reputation beyond reputesimonsi has a reputation beyond reputesimonsi has a reputation beyond reputesimonsi has a reputation beyond reputesimonsi has a reputation beyond reputesimonsi has a reputation beyond reputesimonsi has a reputation beyond repute
Default re: HELP - Setting up and activating an NZ bank a/c from UK?

Originally Posted by Jpearson92 View Post
...so that i cant get the IRD number and avoid paying tax at the default rate
It isn't like paying PAYE on an emergency code in the UK with no tax allowances. There aren't any personal tax allowances in NZ in the first place, you'll pay tax on every cent. So the default rate might even be in your favour if you are lucky enough to be earning enough to be a higher-rate tax payer.
simonsi is offline  
Old Oct 3rd 2016, 2:06 pm
  #8  
Just Joined
Thread Starter
 
Joined: Dec 2014
Posts: 15
Jpearson92 is an unknown quantity at this point
Default re: HELP - Setting up and activating an NZ bank a/c from UK?

Originally Posted by simonsi View Post
It isn't like paying PAYE on an emergency code in the UK with no tax allowances. There aren't any personal tax allowances in NZ in the first place, you'll pay tax on every cent. So the default rate might even be in your favour if you are lucky enough to be earning enough to be a higher-rate tax payer.
I found this out last week and the default is set at 45% i believe? would definitely be worse off Sounds positive that NZ inland revenue are much more efficient than the HMRC.. they seem to take about 7 weeks to do anything!
Jpearson92 is offline  
Old Oct 3rd 2016, 6:49 pm
  #9  
It is what it is Member
 
simonsi's Avatar
 
Joined: Feb 2010
Location: Blockhouse Bay, Auckland
Posts: 2,795
simonsi has a reputation beyond reputesimonsi has a reputation beyond reputesimonsi has a reputation beyond reputesimonsi has a reputation beyond reputesimonsi has a reputation beyond reputesimonsi has a reputation beyond reputesimonsi has a reputation beyond reputesimonsi has a reputation beyond reputesimonsi has a reputation beyond reputesimonsi has a reputation beyond reputesimonsi has a reputation beyond repute
Default re: HELP - Setting up and activating an NZ bank a/c from UK?

Originally Posted by Jpearson92 View Post
I found this out last week and the default is set at 45% i believe? would definitely be worse off Sounds positive that NZ inland revenue are much more efficient than the HMRC.. they seem to take about 7 weeks to do anything!
The no-notification rate is 45% yes, but as said above the IRD issue IRD numbers almost while you wait so even if you are paid fortnightly you are likely to have your number before your pay deductions are made.

You have a job to come to I take it?
simonsi is offline  
Old Oct 3rd 2016, 8:55 pm
  #10  
Just Joined
Thread Starter
 
Joined: Dec 2014
Posts: 15
Jpearson92 is an unknown quantity at this point
Default re: HELP - Setting up and activating an NZ bank a/c from UK?

Originally Posted by simonsi View Post
The no-notification rate is 45% yes, but as said above the IRD issue IRD numbers almost while you wait so even if you are paid fortnightly you are likely to have your number before your pay deductions are made.

You have a job to come to I take it?
Ahh that's good to hear thank you

I do indeed moving internally with work for 2 years - can't wait!
Jpearson92 is offline  
Old Oct 5th 2016, 11:47 pm
  #11  
BE Enthusiast
 
Mishclark's Avatar
 
Joined: Sep 2016
Location: Christchurch NZ
Posts: 378
Mishclark has a reputation beyond reputeMishclark has a reputation beyond reputeMishclark has a reputation beyond reputeMishclark has a reputation beyond reputeMishclark has a reputation beyond reputeMishclark has a reputation beyond reputeMishclark has a reputation beyond reputeMishclark has a reputation beyond reputeMishclark has a reputation beyond reputeMishclark has a reputation beyond reputeMishclark has a reputation beyond repute
Default re: HELP - Setting up and activating an NZ bank a/c from UK?

Hi JPearson,

I moved from Australia to Nz in 2009 ( I am currently back in Oz but will be back in nz end of 2017)..we opened our accounts with ASB bank from australia and it was through their migrant banking section, they opened accounts from most countries so I am assuming you could open from the UK easily. Most banks have a migrant banking section in Nz. I just had to get certified copies of our ID over.

I couldn't activate it until we were in Nz though.

I couldn't open IRD numbers for us from overseas, I had to wait until we were there to do that, it's a pretty quick process..you can do it at the local Postshop as well.

As for the tax rate, I can't help you with that as I didn't keep any money in until we went over, and I don't have any money in my account over there at the moment..well according to my recent bank message, -$5.00!

Good luck for your journey!

Michelle
Mishclark is offline  
Old Oct 16th 2016, 10:01 pm
  #12  
Somewhere
 
BEVS's Avatar
 
Joined: Oct 2003
Location: Below
Posts: 35,983
BEVS has a reputation beyond reputeBEVS has a reputation beyond reputeBEVS has a reputation beyond reputeBEVS has a reputation beyond reputeBEVS has a reputation beyond reputeBEVS has a reputation beyond reputeBEVS has a reputation beyond reputeBEVS has a reputation beyond reputeBEVS has a reputation beyond reputeBEVS has a reputation beyond reputeBEVS has a reputation beyond repute
Default Re: HELP - Setting up and activating an NZ bank a/c from UK?

Post about proof of address moved to a thread of its own.
BEVS is offline  
Old Oct 24th 2016, 10:46 am
  #13  
Forum Regular
 
Joined: Aug 2016
Posts: 94
wakwak has a reputation beyond reputewakwak has a reputation beyond reputewakwak has a reputation beyond reputewakwak has a reputation beyond reputewakwak has a reputation beyond reputewakwak has a reputation beyond reputewakwak has a reputation beyond reputewakwak has a reputation beyond reputewakwak has a reputation beyond reputewakwak has a reputation beyond reputewakwak has a reputation beyond repute
Default Re: HELP - Setting up and activating an NZ bank a/c from UK?

Easy peasy to set the bank account up with BNZ, we did it online from the UK, they give you a team to contact with any questions, we have our online access card sent and when we arrive we go into branch and pick up our bank cards.
We can transfer funds in when we are ready
wakwak is offline  
Old Oct 24th 2016, 5:13 pm
  #14  
Forum Regular
 
Joined: Sep 2016
Posts: 70
Shirrom is a name known to allShirrom is a name known to allShirrom is a name known to allShirrom is a name known to allShirrom is a name known to allShirrom is a name known to allShirrom is a name known to allShirrom is a name known to allShirrom is a name known to allShirrom is a name known to allShirrom is a name known to all
Default Re: HELP - Setting up and activating an NZ bank a/c from UK?

Originally Posted by Jpearson92 View Post
Hi all,


first of all apologies if I can find my answer elsewhere... I'm currently awaiting my visa application to be processed by INZ and the next thing on my checklist is setting up a bank account in order to apply for my IRD number.

I have read conflicting information on the good old web regarding this and need clarification as to whether you can set up and activate a NZ bank account from the UK? I am really keen to get a 'fully functional' bank account up and running before i arrive so that i cant get the IRD number and avoid paying tax at the default rate

Also, are HSBC a popular bank in NZ? thinking of transferring my UK current account to them so that i can transfer easily using just the 'one' bank.

Any help would be appreciated.

Thanks
Jack
Try Westpac, they have been good for me! They are welcoming for migrants.
Shirrom is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.