If you have not set up a New Zealand bank account before coming to Wellington, it should be at the top of your list of things to do when you settle here.
Choosing a Bank
A list of the banks operating in New Zealand is available on the Reserve Bank of New Zealand website, with links to their websites. Other options include online banks, building societies and credit unions.
Every bank offers a range of accounts - from high transaction to savings accounts - but they may have special conditions for migrants. Some banks have multilingual staff to help you. For more information, check with the various banks.
- Registered Banks - Reserve Bank of New Zealand website
- Building Societies - Financial Services Federation website
- New Zealand Association of Credit Unions website
Your Account
Once you have decided which bank would be your best option, opening an account is a simple process. You will need to fill out some paperwork, and the bank will ask you to provide proof of a permanent address. This is usually in the form of a bill or letter with the address on it. The address can be either residential or a post office box or private bag.
Usually photographic identification such as a passport or a driver's license will also be required. Most banks will have an account operating for new customers within ten days, and usually much sooner.
Currency & Exchange Rates
The currency in New Zealand is the New Zealand Dollar ($NZ).
New Zealand banks offer foreign exchange services and most have currency exchange calculators on their websites. You can check if a bank carries particular currencies by checking its website.
