• New Zealand

How to open a Bank Account in New Zealand as an International Student?

3164 Reads
3 min Read

By:CANAM Group
Updated On:Oct 16,2023 12:39 PM IST

New Zealand has a safe and efficient banking system with a full range of accounts and banking services available. It is recommended to start the process in advance of arriving as it is taking a longer period to open a bank account than in previous years. This blog will discuss opening a New Zealand bank account as an international student.

How to open a Bank Account in New Zealand as an International Student.webp

New Zealand offers the ultimate experience for any expat, with a laid-back lifestyle, vibrant culture and awe-inspiring nature. It is certainly beneficial to open a bank account in New Zealand once one arrives rather than carry around large amounts of cash. Opening a bank account from abroad is one of the main concerns of international students. Some banks do not offer full account functionality until students have moved to New Zealand and confirmed their local address with them.

International students planning to live in New Zealand for a few years may require a bank account for local and international transactions, from paying rent to transferring funds to and from their home country.

Why to open a bank account in New Zealand?

Among various things to know when planning to study in New Zealand, one is certainly about opening a local bank account in New Zealand. International students in New Zealand will need money for their daily living expenses and also need a bank account to manage their money, as it is inconvenient to carry cash in hand. One can use their native country’s bank account, but they need to check international services provided by their bank.

Also, they are charged a certain amount on every transaction. It is advisable to open a bank account in New Zealand for the following reasons.

• One can avoid international transaction fee while making debit/credit card payments for everyday activities like shopping and eating out.

• Money withdrawal is convenient due to the abundance of ATMs.

• One can manage money transfers between their home country and New Zealand easily.

• Students will need a New Zealand bank account to get paid if they decide to work while studying.

• It will be easier for visa processing officers to check proof of funds if one holds an account in a New Zealand bank.

How to open a student bank account in New Zealand? Types of bank accounts?

There are various types of bank accounts for different purposes. It helps to have a clearer understanding of each account type to choose the one that best suits one’s specific needs.

International Student Bank account

As an international student, it is a good idea to opt for an international student bank account, which gives one access to exclusive perks meant only for international students.

Student Bank Account

One of the top perks of studying in New Zealand is that several banks offer student-specific bank accounts, which come with special perks. One of the key features is not having any transaction fees or charges for extra services, which can potentially add up to hundreds of dollars a year.

Current account

It is designed for everyday use, and the current account enables one to securely deposit money into the bank and access it whenever necessary. It comes with a debit card that one can use to make payments in stores or withdraw money from ATMs.

Savings account

If one has access to larger sums of money, it is a good idea to set up a savings account as it comes with higher interest rates, which means earning more on what one deposits. It could get one into the good habit of setting aside cash to put into savings and also be the account for salary to get credited to if working.

Packages

Some banks have packages on offer that include both a current account and a savings account, which are great options if one needs to set things up in a hurry. They also have added perks, such as a lower fee to maintain both accounts.

The Process of opening a bank account in New Zealand

As International students identify New Zealand as an emerging education destination, more and more students are studying in New Zealand. There are a few important things to be done before reaching their study destination, like choosing a university, courses, a place to stay, and opening a local bank account in New Zealand. Several points are to be kept in mind to go through a smooth process of opening a bank account in New Zealand as an international student. Opening a bank account in New Zealand is relatively easy.

• Some banks in New Zealand let students open a bank account online before they arrive.

• Some banks will only open a bank account with students who have a student visa that is valid for six months or longer.

• Interest-free overdrafts- When a bank account comes with an interest-free overdraft, it means the bank will let the students spend more money than they have up to a certain amount without charging any fee. It’s a great perk that many students use, but they should remember that if they choose one, it still isn’t free money and should ideally only be used in emergencies.

• Students will usually have to pay it back shortly after they graduate, when they will have to start paying the interest fee.

Students need to provide following identification and information to open a bank account.

• Passport details

• Proof that they are enrolled students in New Zealand, such as their place offer or student identity card.

• Proof of student’s address in New Zealand, like a tenancy agreement or utility bill.

• Student’s Tax Identification Number from their home country, IRD- Inland Revenue Department Number is required.

• Complete assistance on every step can be received from Canam Consultants for the smooth functioning of the Process of opening a bank account in New Zealand.

How to open a bank account in New Zealand as an International Student?

There are some student bank accounts for international students, which can be found in some of the Great New Zealand banks. Some come with high interest-free overdrafts, others with low fee, and a few come with other excellent perks.

Westpac, Student Pac

Westpac’s Student Pac offers students a current account with a low fee, a debit card, and a save-and-win account, which will allow them to win monthly cash prizes. Students will also get access to online and mobile banking.

ANZ, International Student Package

If students opt for ANZ’s International Student Package, they will get a current account with no monthly account or transaction fee and a savings account of their choice. The bank will also waive their annual ANZ Visa Debit card fee if it’s linked to their current account.

ABS, Tertiary Account

With the ABS Tertiary Account, students can get interest-free over draft is only up to $1000 in the first year and $2000 in the following years. They will also get great extra perks when they use their debit card to buy something.

Bank Opening Hours

Students can find bank branches in all major cities and most towns. Most universities will have bank branches on campus. Banks are usually open Monday to Friday, from 9 am to 4:30 pm and also Saturday mornings in some large cities. 24-hour ATM machines are linked to these banks everywhere, including universities, airports and shopping centres.

For more detailed information on opening a bank account in New Zealand as an international Student, contact Canam Consultants.

Conclusion

There are ample reasons to study in New Zealand, including globally accredited universities and courses, a vibrant culture, and a comprehensible banking system assisting international students to deal flawlessly with financial transactions while away from home. New Zealand has plenty of local banks to choose from. After opening an account, students can get full access to their new bank account in New Zealand.

Connect with Canam Consultants to get assistance to study in New Zealand.

FAQ

What ID is required for opening a bank account in New Zealand?

National identity card, valid passport, Resident identity card, or current overseas driving license issued by an overseas government agency that contains the student’s current resident address.

What is the proof of address for a bank account?

Proof of address can be one of the following documents: water, electricity, gas, telephone, or internet bill, credit bill or statement.

What are the major banks in New Zealand?

New Zealand’s banking market is dominated by four major players- ANZ, Westpac, the NAB-owned Bank of New Zealand, and CBA-owned ASB Bank.

What is the limit of student account transactions per day?

Student account transactions provide per day cash withdrawal limit of Rs. 25,000 and an online transaction/purchase limit of Rs. 30,000 (subject to change).

What are the advantages of a student account?

One benefit that a student bank account offers is a large interest-free overdraft facility, which a standard current account does not offer. An overdraft allows students to borrow money from their bank through their current account if it’s at zero.

Get great articles direct to your inbox

The latest news, articles, and resources, sent straight to your inbox every month.

Popular Universities to Study Abroad

World class education waiting for you.

Management Development Institute of Singapore (MDIS)

Central Region, Singapore • 43 Programmes

Tuition Fee : SGD 0-0 / year

State University of New York (SUNY) Polytechnic Institute

New York, USA • 20 Programmes

Tuition Fee : USD 18700-18800 / year

Global University Systems (GUS) - The University of Law - Manchester Campus

England, UK • 48 Programmes

Tuition Fee : GBP 11000-17000 / year

Global University Systems (GUS) - Saba University School of Medicine

Vermont, USA • 1 Programmes

Tuition Fee : USD 0-0 / year

Deakin University - Warrnambool Campus

Victoria, Australia • 5 Programmes

Tuition Fee : AUD 33500-40000 / year

University of Nottingham - Jubilee Campus

England, UK • 60 Programmes

Tuition Fee : GBP 20000-27000 / year

Columbia College

British Columbia, Canada • 16 Programmes

Tuition Fee : CAD 14000-18000 / year

International School of Management - Dortmund Campus

North Rhine-Westphalia, Germany • 24 Programmes

Tuition Fee : EUR 11400-11400 / year

View All Universities

Latest at CANAM

Events, webinar, college / university visits and more.

Canadian Universities & Colleges Admissions Fair & Workshop

Study in Canada

Amritsar • 11:00AM

In-Person Event

Dalhousie University Application Week

Study in Canada • Application Days

All Canam Offices, PAN India • 11:00AM

In-Person Event

University Visits - Lakehead University

Study in Canada • University Visit

kochi2 • 12:00PM

In-Person Event

Top countries destinations

Popular university and colleges for Studying abroad.

Bond University Queensland
Central Queensland University - Rockhampton, North Campus Queensland
Charles Sturt University - Wagga Wagga Campus New South Wales
Deakin University - Geelong Waurn Ponds Campus Victoria
Engineering Institute of Technology - Perth campus Western Australia
Griffith University - Nathan Campus Queensland
La Trobe University - Bendigo Campus Victoria
LCI Melbourne - Art & Design School Victoria

Ara Institute of Canterbury - City Campus Southland
Aspire 2 International - Auckland Campus Auckland
Auckland University of Technology - City Campus Auckland
Eastern Institute of Technology - Hawke Bay Campus Hawke's Bay
Manukau Institute of Technology -Manukau Campus Auckland
Massey University - Auckland Campus Auckland
Nelson Marlborough Institute of Technology (NMIT) - Nelson Campus Southland
New Zealand Institute of Business & Technology (NZIBT) Auckland
The University of Waikato - Hamilton Campus Hamilton

Kent state university Ohio
San Jose State University California
Wright State University Ohio
Clark University Massachusetts
Rowan University New Jersey
Arkansas State University Arkansas
University of Wisconsin Milwaukee Wisconsin
Southern Illinois University Edwardsville Illinois
University of Findlay Ohio

Popular English Language Proficiency Exams

Blogs and Articles

Curated content to keep you updated on the latest education trends, news and more.

Student Life in Ireland in 2025

“World-Class Standards, Warmest of Welcomes”. The tagline highlights the ideal balance of a high-quality education and a tremendous, hospitable cu...

Updated on • Mar 29,2025 05:50 PM IST • Ireland

Top Public Universities in Germany

It’s a notion that studying abroad is expensive, but there is one country that is breaking this notion. Germany, also known as the land of ideas, of...

Updated on • Mar 26,2025 04:33 PM IST • Germany

Top Universities for Masters in Ireland in 2025

Learning never stops. Humans learn till their last breath. After completing your bachelor’s degree, you might be considering pursuing a master’s d...

Updated on • Mar 25,2025 04:36 PM IST • Ireland

Cost of Living in Singapore for Indian Students in 2025

Once a poor island nation, Singapore now has become one of the wealthiest countries in the world. Also known as Lion City, Singapore is becoming an in...

Updated on • Mar 22,2025 11:57 AM IST • Singapore

PTE vs IELTS : Know the Difference and Which is Easier?

An English proficiency test is required to study in countries such as Canada, Australia, New Zealand, the US, the UK, and others. PTE and IELTS are th...

Updated on • Mar 21,2025 03:38 PM IST • IELTS

MBA is one of the most sought-after courses worldwide and consistently tops the list of preferred study abroad courses for Indian students. Now, wheth...

Updated on • Mar 20,2025 10:28 AM IST • Study Abroad

IELTS Score for Germany 2025

Germany is an emerging study-abroad destination for international students seeking affordable, high-quality education. Its other benefits include a wi...

Updated on • Mar 20,2025 10:19 AM IST • Germany

IELTS Score for Ireland 2025

Ireland is one of the top study-abroad destinations targeted by international students. The country is ranked 2nd in the Global Peace Index 2024, has ...

Updated on • Mar 12,2025 11:20 AM IST • Ireland

Master's in Robotics in USA

Technology keeps improving daily and leads to new inventions. One such invention is robotics, which is making human life easier. The USA, being a top ...

Updated on • Mar 11,2025 01:18 PM IST • USA

Best Countries to Study Abroad for Indian Students in 2025

Looking for the best countries to study abroad in 2025? Studying abroad can be an endeavour for Indian students to upgrade their skill set towards bet...

Updated on • Mar 08,2025 01:24 PM IST • Study Abroad

Nursing Courses in UK

Do you want to pursue a nursing course in the United Kingdom? The UK has been at the forefront of professional nursing ever since it has been consider...

Updated on • Mar 05,2025 12:19 PM IST • UK

Fastest Growing Job Sectors in Germany in 2025

Thousands of job opportunities in Germany are waiting for Indians. Fill them before someone else grabs these. But how? Do you know which sector these ...

Updated on • Feb 28,2025 04:04 PM IST • Germany

What if Your Visa Gets Rejected?

A student visa is a must to study abroad especially in top countries like USA, UK, Canada, Australia, and Germany. After gaining admission to your des...

Updated on • Feb 27,2025 03:32 PM IST • Study Abroad Guidance

Masters in Project Management in Australia

If you are looking to explore opportunities in the field of project management abroad then Australia is the best choice for you. Australian universiti...

Updated on • Feb 25,2025 04:02 PM IST • Australia

Study in Germany After 12th

In this step, the admission authority of the university will check your profile and when everything is right, send you the offer letter.Are you someon...

Updated on • Feb 21,2025 11:53 AM IST • Germany

Best Medical Colleges in USA

You looking for medical colleges in the USA is clear evidence that it is the best country to pursue medical courses. One of the most sought-after medi...

Updated on • Feb 19,2025 12:31 PM IST • USA

MS in Data Science in Ireland

Are you aspiring to pursue an MS in Data Science without breaking the bank? Then look no further! Ireland is home to some of the most prestigious univ...

Updated on • Feb 18,2025 10:58 AM IST • Ireland

Accommodation in France for Indian and International Students

France is a dreamy country that's always in the news for its aesthetic cafes in Lyon, Seine in Paris and skiing in the French Alps. But beyond its all...

Updated on • Feb 14,2025 11:33 AM IST • France

Public Relations (PR) Courses in Australia

Recently, Australia has become a widely popular choice for international students. There is not a single reason for this popularity, but Australia off...

Updated on • Feb 07,2025 11:03 AM IST • Australia

Job Opportunities in France for International Students

Imagine yourself strolling down the Champs-Elysees with a steaming croissant in one hand and a freshly minted job offer in the other. It must sound li...

Updated on • Feb 06,2025 12:47 PM IST • France

How to open a Bank Account in New Zealand as an International Student?

Table of Contents

Why to open a bank account in New Zealand?

How to open a student bank account in New Zealand? Types of bank accounts?

International Student Bank account

Student Bank Account

Current account

Savings account

Packages

The Process of opening a bank account in New Zealand

How to open a bank account in New Zealand as an International Student?

Westpac, Student Pac

ANZ, International Student Package

ABS, Tertiary Account

Bank Opening Hours

Conclusion

FAQ

Events, webinar, college / university visits and more.

Popular university and colleges for Studying abroad.

Bond University Queensland

Central Queensland University - Rockhampton, North Campus Queensland

Charles Sturt University - Wagga Wagga Campus New South Wales

Deakin University - Geelong Waurn Ponds Campus Victoria

Engineering Institute of Technology - Perth campus Western Australia

Griffith University - Nathan Campus Queensland

La Trobe University - Bendigo Campus Victoria

LCI Melbourne - Art & Design School Victoria

University Canada West British Columbia

University of Windsor Ontario

Dalhousie University Nova Scotia

Carleton University Ontario

Cape Breton University Nova Scotia

University of ottawa Ontario

University of saskatchewan Saskatchewan

University of regina Saskatchewan

University of guelph Ontario

Ara Institute of Canterbury - City Campus Southland

Aspire 2 International - Auckland Campus Auckland

Auckland University of Technology - City Campus Auckland

Eastern Institute of Technology - Hawke Bay Campus Hawke's Bay

Manukau Institute of Technology -Manukau Campus Auckland

Massey University - Auckland Campus Auckland

Nelson Marlborough Institute of Technology (NMIT) - Nelson Campus Southland

New Zealand Institute of Business & Technology (NZIBT) Auckland

The University of Waikato - Hamilton Campus Hamilton

University of Warwick England

De Montfort University England

University of West London England

University of Strathclyde Scotland

Aston University England

University of Bath England

University of Liverpool England

Durham University England

Newcastle University England

Kent state university Ohio

San Jose State University California

Wright State University Ohio

Clark University Massachusetts

Rowan University New Jersey

Arkansas State University Arkansas

University of Wisconsin Milwaukee Wisconsin

Southern Illinois University Edwardsville Illinois

University of Findlay Ohio

Popular English Language Proficiency Exams