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Opening a NZ bank account

Opening a NZ bank account

Old Jul 4th 2009, 2:58 pm
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Question Opening a NZ bank account

Hi,

We are looking at opening an NZ bank account from the UK and are looking for the best options. We have been advised by a relative in NZ that ASB is a good choice. Any advice on opening a bank account greatly apprecited.

We are also looking at transfering the bulk of our money by hifix rather than ASB - do you think this is a good option?
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Old Jul 4th 2009, 8:15 pm
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Default Re: Opening a NZ bank account

no idea if it's any good or not yet, but we just opened with ASB. I guess the way I see it is that when we get to NZ we can always change if unhappy.
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Old Jul 4th 2009, 10:21 pm
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Default Re: Opening a NZ bank account

We sorted everything with Westpac and one 10 min visit to our local branch when we arrived had everything up and running - debit cards (known as Eftpos here) arrived within a couple of days.

I use HiFx for my transfers, larger amounts I tend to speak to them but for smaller transfers I use the online transfer part of the UK site - so far so good.
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Old Jul 5th 2009, 5:58 am
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Default Re: Opening a NZ bank account

Kiwibank, despite apparently losing track of the application I sent from the UK, confirmed just before I flew out that everything was ready. On my first day in Wellington I went into a Postshop with proof of ID, signed the forms, set up internet banking and was given the EFTPOS card on the spot. I use the card nearly every day, and pay utilities bills over the internet; had no problems at all.. Maintaining a minimum balance of $4k in the "Front Runner" account means I get interest and have no account charges; but one thing to watch for is that the banks here still cross charge for using one another's ATMs, so it's best to find out where your free ATMs are.
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Old Jul 5th 2009, 6:24 am
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Default Re: Opening a NZ bank account

Hi, we used Westpac who provided us with our own migrant banking manager whose name is Richie Owen and has been a fantastic help ever since we arrived here. Just e-mail him and he can answer most of your questions, his e-mail address is [email protected].
Most of the Banks here seem to be very similar but what we personally have found is it’s not so much the bank but the person who looks after your account who makes the difference when banking in NZ.
Just a tip for anybody using Hifx who we used to transfer money from the UK to NZ is to keep and eye on the current spot telegraphic transfer rates that the NZ banks offer. We used this information to squeeze Hifx to compete for our business with much improved currency transfer rates which can make a very big difference when transferring large amounts of money.
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Old Jul 5th 2009, 7:46 am
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Default Re: Opening a NZ bank account

I opened an ASB account on the basis that they are yellow and I like yellow.
Not the best way to choose but U have been so happy with them over the last 10 years.
National Bank have messed every, and I mean every, think that I have asked of them.
I also use Kiwibank...great cos kiwi owned
Westpac is not a very popular choice here
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Old Jul 5th 2009, 7:49 am
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Default Re: Opening a NZ bank account

we opened account with anz, and used currencies direct to transfer money over. apparently according to our friends who are already there, we have a quick appointment with the local anz branch when we get there & theygive you all your cards etc over the counter. currencies direct dont charge you anything for transfers over 5k GBP, anything under is £15 i think, but the rate they advertise on the website is not the one you will get, you have to call & quote how much you are sending over & they will give you the rate. Moneycorp is the same but not sure on their charges. They both quoted us the same rate, or near as damn it the same rate anyway there was hardly anything in it.
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Old Jul 5th 2009, 8:34 am
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Default Re: Opening a NZ bank account

Originally Posted by pricklykina
I opened an ASB account on the basis that they are yellow and I like yellow.
Not the best way to choose but U have been so happy with them over the last 10 years.
National Bank have messed every, and I mean every, think that I have asked of them.
I also use Kiwibank...great cos kiwi owned
Westpac is not a very popular choice here
I chose National on the same basis (colour) and have been very happy with the service they have provided.
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Old Jul 5th 2009, 4:41 pm
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Default Re: Opening a NZ bank account

Originally Posted by dkb_herts
Kiwibank, despite apparently losing track of the application I sent from the UK, confirmed just before I flew out that everything was ready. On my first day in Wellington I went into a Postshop with proof of ID, signed the forms, set up internet banking and was given the EFTPOS card on the spot. I use the card nearly every day, and pay utilities bills over the internet; had no problems at all.. Maintaining a minimum balance of $4k in the "Front Runner" account means I get interest and have no account charges; but one thing to watch for is that the banks here still cross charge for using one another's ATMs, so it's best to find out where your free ATMs are.
Hi

This is exactly what has happened to us with Kiwibank. Sent application about 6 weeks ago and have heard nothing. Not sure who to chase up as I don't yet have an account.....well I am presuming I don't. Did they confirm off their own bat or did you chase them? Any advice would be appreciated
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Old Jul 6th 2009, 1:42 am
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Default Re: Opening a NZ bank account

Originally Posted by Jo-Chris
We are also looking at transfering the bulk of our money by hifix rather than ASB - do you think this is a good option?
Have at look at KVB Kunlun - always the best rates.

http://www.kvbkunlun.com/en
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Old Jul 6th 2009, 2:32 am
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Default Re: Opening a NZ bank account

Originally Posted by getmethere
no idea if it's any good or not yet, but we just opened with ASB. I guess the way I see it is that when we get to NZ we can always change if unhappy.
Having used them both I can say ASB is waaaaaaaay better.
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Old Jul 6th 2009, 2:42 am
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Default Re: Opening a NZ bank account

Westpac is not a very popular choice here[/QUOTE]

I have been totally overwhelmed with the poor service I have suffered under Westpac. They like another bank mentioned manage to marr the majority of interfaces I have had with them.

ASB never ever gave us any problems. Only changed due to a cash flow crisis care of Hanover and needed a cheap 'draw down mortgage'.

Apparently at that time my mortgage broker said westpac was the best. At that juncture we were in such a fiscal mire I was happy to go anywhere as long as it was cheap!!

I would move back to ASB tomorrow but just now can't be arsed to load the plethora of direct debits that go out each month onto another account.
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Old Jul 6th 2009, 9:08 am
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Default Re: Opening a NZ bank account

Hi Numptyhead,

Did they confirm off their own bat or did you chase them?

I phoned, expensively, from the UK, because time was getting so short. I think you should start by dropping them an email in the first place... hang on while I check their emails ... try the second tab on here:

http://www.kiwibank.co.nz/about-us/c.../need-help.asp

The most important thing to include seems to be the email address you supplied with the original application (I think it must be used as the key field on their database until you get an IRD number), but also obviously give name and d.o.b. and make it clear that you are a prospective migrant from the UK to NZ and not the other way round (the call centre monkey put me through to the wrong department when I phoned, bah).
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Old Jul 6th 2009, 9:24 am
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Default Re: Opening a NZ bank account

Originally Posted by dkb_herts
Hi Numptyhead,

Did they confirm off their own bat or did you chase them?

I phoned, expensively, from the UK, because time was getting so short. I think you should start by dropping them an email in the first place... hang on while I check their emails ... try the second tab on here:

http://www.kiwibank.co.nz/about-us/c.../need-help.asp

The most important thing to include seems to be the email address you supplied with the original application (I think it must be used as the key field on their database until you get an IRD number), but also obviously give name and d.o.b. and make it clear that you are a prospective migrant from the UK to NZ and not the other way round (the call centre monkey put me through to the wrong department when I phoned, bah).
Hi
Thank you for your reply. I did send them an email yesterday after I posted to you, so waiting to hear from them. I didn't give my d.o.b so hope they still find me...lol
Thanks again....whats it like then (NZ that is). Are you loving it or just treading water at the moment. Your timeline is so quick...well done you
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Old Jul 6th 2009, 9:56 pm
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Default Re: Opening a NZ bank account

We have been with Westpac for 4 years now & have been very happy with the service they have offered us. No problems at all so far
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