Choosing the right bank when you arrive in New Zealand saves time and frustration. Some banks actively cater to new arrivals; others are harder to set up without an established NZ history.
ASB and ANZ both offer online account opening before you land in NZ. Kiwibank is the NZ-owned option among the main banks, but pre-arrival opening is limited. NZ bank international transfers cost $15–$35 plus an exchange rate margin; money transfer services such as Wise use the mid-market rate.
What New Arrivals Need from a Bank
| Priority | Banks that offer it |
|---|---|
| Open account before arriving | ANZ or ASB |
| NZ-owned bank | Kiwibank |
| Mid-market rate international transfers | Wise (alongside a NZ bank account) |
| No monthly fees | ASB, Kiwibank, BNZ, or ANZ (all have $0 everyday accounts) |
| Widest branch network | ANZ or Westpac |
Bank-by-Bank Comparison for New Arrivals
Providers are listed alphabetically.
ANZ
ANZ is New Zealand’s largest bank and has a process for new arrivals, including the ability to apply before you land.
| Feature | Detail |
|---|---|
| Pre-arrival account opening | Yes: available for skilled migrants and work visa holders |
| Documents needed | Passport, NZ visa, planned NZ address |
| Online opening | Yes |
| Monthly fee | $0 on ANZ Go Account |
| App features | Real-time notifications, mobile payments |
| Branch network | Largest in NZ |
ASB
ASB offers pre-arrival account opening and accepts an employer offer letter as proof of address.
| Feature | Detail |
|---|---|
| Pre-arrival account opening | Yes: international new customer process |
| Documents needed | Passport, NZ visa, NZ address (offer letter accepted) |
| Online opening | Yes |
| Monthly fee | $0 on ASB Streamline Account |
| Branch network | Major cities |
BNZ
BNZ (Bank of New Zealand) is Australian-owned (NAB).
| Feature | Detail |
|---|---|
| Pre-arrival account opening | Limited |
| Online opening | Yes |
| Monthly fee | $0 on BNZ Flexi Account |
| Branch network | Main centres |
Kiwibank
Kiwibank is government-backed (NZ Post/SuperFund/ACC ownership), so your money is held with a NZ-owned institution.
| Feature | Detail |
|---|---|
| Pre-arrival account opening | Limited: generally requires NZ presence |
| Documents needed | Passport, visa, NZ address |
| Online opening | Yes |
| Monthly fee | $0 on Kiwibank Free Account |
| App | Rebuilt in 2024 |
| Branch network | Via NZ Post outlets, national coverage |
| Zero Visa card | No annual fee; 1.85% fee on transactions processed overseas |
Westpac NZ
Westpac NZ operates as a separate NZ entity from Westpac Group (Australian parent).
| Feature | Detail |
|---|---|
| Pre-arrival account opening | Limited |
| Online opening | Yes |
| Monthly fee | $0 on some accounts (check conditions) |
| Branch network | Alongside ANZ, one of the two largest networks |
What Documents Do You Need?
| Document | Required? |
|---|---|
| Valid passport | Yes — all banks |
| NZ visa (work, student, resident) | Yes — for non-NZ citizens |
| Proof of NZ address | Yes — employer offer letter, accommodation confirmation, or similar |
| IRD number | Not always required at opening, but needed to avoid highest RWT rate |
| NZ driver licence | Helpful but not required if you have a passport |
International Transfers
NZ banks charge $15–$35 per international transfer plus an exchange rate margin. Wise uses the mid-market exchange rate and shows its fee before you confirm.
- International money transfers from NZ — full comparison of options
Step-by-Step: Setting Up Banking as a New Arrival
- Open an account before you arrive if your bank offers it (ANZ and ASB do), so you have an account number ready for your employer from day one
- Bring physical document copies to complete in-branch verification when you land
- Apply for your IRD number within the first week — at ird.govt.nz with your passport and visa
- Set up Wise separately for any international transfers
- If you want a credit card, compare annual fees and foreign transaction fees (for example, the Kiwibank Zero Visa has no annual fee but charges 1.85% on transactions processed overseas)
Opening Requirements by Bank
| Bank | Can open before arrival? | Accepts offer letter as address? |
|---|---|---|
| ANZ | Yes | Yes |
| ASB | Yes | Yes |
| Kiwibank | Limited | Yes |
| BNZ | No | Yes |
| Westpac | No | Sometimes |
For Specific Situations
Working holiday visa: Any bank will open an account. ANZ and ASB allow opening before arrival. The Kiwibank Zero Visa has no annual fee, but charges 1.85% on transactions processed overseas.
International student: ASB and Kiwibank both have experience with international students. Your halls of residence letter is sufficient proof of address.
Skilled migrant / resident visa: ANZ pre-arrival process is specifically designed for this pathway.
Refugee or humanitarian visa: Contact your resettlement organisation first — they often have arrangements with specific banks for assisted account opening.
Where to check the latest data
Rates, fees and returns change often. Before deciding, check current figures yourself:
- The provider's own website: has its current rates, fees and full terms; these change more often than any comparison page.
- interest.co.nz savings account rates: tables of current call and online savings account rates.
- Financial Service Providers Register: shows whether a provider is registered to offer financial services in New Zealand.
Next Steps
- How to open a bank account in NZ — full document requirements and process
- Compare NZ banks — full bank comparison
- International money transfers from NZ — cheapest ways to send money overseas
- Banking fees NZ — fees to watch for and how to avoid them