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Opening a Bank Account in New Zealand

If your admission and visa formalities have been completed, then the next big step is opening a bank account. There are several advantages of opening a bank account:

  • As a student, it would not be safe to carry cash with you all the time
  • Opening a bank account will help you transfer funds to India and even receive money from India without much hassle
  • Your money will be safe but still accessible
  • You can use checks to make payments, making life simpler

Types of Bank Accounts


Current account: This type of account is also known as cheque account and you would be required to pay interest on credit balances. It is best for everyday use like paying bills or buying food.

Savings account: This will help you to earn higher rate of interest and it is best for if you have extra money which you won’t be using for day to day living.

Documents you require to open an account


  • Passport
  • Valid Student Visa
  • Evidence of enrollment or acceptance letter from a recognized university and course
  • Opening deposit
  • Address details

Using your Account

Once you have opened your account, you will be provided with a valid account number. You can transfer or receive funds using the account number. You will also be able to use your ATM (Automated Teller Machine) card. ATMs also known as cashpoint or money machines allow you to withdraw money anytime of the day.

Bank Branches: Bank branches are usually open from Monday to Friday 9.30am to 4.30pm.

Major Banks in New Zealand:

  • The National Bank
  • ASB Bank
  • Bank of New Zealand
  • ANZ
  • Westpac
  • HSBC

EFTOPS Card:

Electronic Funds Transfer at Point of Sale is a general term used for debit card based systems. It is widely in New Zealand and Australia for making payments through terminals on points of sale. In New Zealand it is highly popular as there are more debit card terminals per head of population than any other country. It is good both for the customer and the retailer. The retailer is paid instantly while the customer need not carry cash, credit cards or check books.

Comments (32)

  • shikha5/25/2012 10:19:17 PM

    Si, I want PR in newzealand .i have done M.sc maths in 2008 after then i have done B.Ed in2009 .Currently i m working as a teacher from last two year in well reputed Prviate sr,secondary school.I want to migrate there with my husband. We get married in july 2011 .PLZ suggest me the best way to migrate there.thnx

  • Satveer. Kaur5/25/2012 6:28:43 PM

    I m in England now but I want to migrate in newzeland , how can I do it? My qalification is general nursing midwifery from India

  • maninder pal singh5/25/2012 8:36:13 AM

    i applied 8 days ago for student visa to new zealand, yesterday i recieved a call from immigration officer bombay, she asked me about my snr sec educatoin , because i have completed my 10 th in 2005, and 12th in2008 , because i could,nt prepeared well for mathematics , and i got suppy of it, then i cleared it in golden chance , and punjab board issued me certificate of 2008 , i give reason to immigration officer that my grand father was ill , he admitted in a hospital, my father doing a job, am onlya single

  • utkarsh lungare5/22/2012 11:32:13 PM

    Its Utkarsh Lungare from INDIA i had done my Bachelors of Engineering ( Information Technology ) from pune university Maharashtra and i have got admission in PGDip in commerce (major:information systems) fall intake need your help about the job opportunities and job prospects in NZ itself for my specific course and also scope and world recognition after the course. Also how is the environment for Indians at new Zealand because there was some problems going on with Indians at Australia. I

  • dr.prabhakar kumar5/17/2012 7:09:59 PM

    respected sr, i am in internshp {5thyr} pursuing bachelor of dental surgery: i want to know the scholarship programme for indian student in newzeland and australia. nd their egligibility.......for postgraduate course in dentistry...., i will be thankful to u for ths...

  • leena5/6/2012 6:25:51 PM

    hello.. I pursuing BBA final year in Aviation, hospitalty, travel and tourism management. i like to do MBA in New Zealand and i would also like to know how many marks i should score to do MBA in New Zealand n what exam i should write? and about fee struture?

  • preetha5/4/2012 5:11:57 PM

    hello , i'm in my final year of B.tech (biotechnology) and i would like to pursue my MBA abroad. I dont have any working experience, pls guide me in getting into any university....

  • Manish Patel5/3/2012 7:53:00 PM

    Dear sir, I have completed B.Pharm and I have 2 year experience as a production chemist..now I want to study in newzealand ,so please suggest me related course and good university and requirement also.Thanks,Manish

  • purvi bhatt5/2/2012 12:39:33 PM

    hello sir, please suggest me B.sc home science graduate complete 2002,2002 to 2011 continue medical representative job in pharma company ielts 6 band please suggest me i apply student visa newzeland

  • parminder singh4/26/2012 9:22:24 AM

    ihave completed my study in 2007 { 2} my study have gape four years but i am doing course now i have got 5.5 band in ielts how i can cover my gap or how i can eligible to get student visa for new zealand tell me

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