How To Open A Bank Account In New Zealand

If you are planing a trip to New Zealand for an extensive period of time or moving there, setting up a New Zealand bank account is recommended.

In New Zealand, there are commonly more cashless transactions than there are cash transactions and that’s why, an EFTPOS card which can be used at cash dispensers and in almost all of retail stores, cafes and dining places. You may also be given the option to apply for a Visa Debit Card which works in the same way as EFTPOS but can also be used in other countries and also for online transactions.

There are a number of major banks in New Zealand:

ANZ National Bank – www.nz.anz.com ( 0800 269 296 )

ASB – www.asbbank.co.nz ( 0800 803 804 )

Bank of New Zealand – www.bnz.co.nz ( 0800 275 269 )

Westpac – www.westpac.co.nz ( 0800 400 600 )

Kiwibank – www.kiwibank.co.nz (0800 11 33 55 )

National Bank – www.nationalbank.co.nz (0800 18 18 18)

HSBC – www.hsbc.co.nz ( 0800 80 23 80 )

 

Once you decide what bank you want to go with and what accounts you need, go into a branch to open your account.

1) Generally, the banks require a minimum deposit of $200 to $500.

2) Things you will need to bring with you are :

- Passports

- A residential address in New Zealand or an utility bill with your name and address printed on it

- Your New Zealand Visa

 

Once you have these documents, opening the account can be much easy. The teller will set up your accounts and issue you with an EFTPOS card on the same day.

Bank opening hours is 9.30am to 4.30pm Monday to Friday. They close on weekends and bank holidays.

 

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