[nd293]

Hi,

We are going to NZ for our first visit on our residence visa this July, but only plan to move permanently late next year. However, we are considering opening bank accounts now, and moving some savings there.

So, my questions:

Is it possible to open an account with a New Zealand bank without having a residential address in NZ?

Is it possible to open an account with a New Zealand bank online (we are in the Middle East, not the UK, so no branches of NZ banks here).

Which banks would you recommend? And why?

Thanks in advance,

Nikki

[veronica]

Its possible to open an account here without a permanent address as lots of our backpackers do. Whether its possible to open one on line I cant say but once opened you will be able to use the online banking.

[Jo Jo]

I don't know about opening an account online, but you can open an account with a NZ bank when you are over for your visit. I enquired about opening one when I was visiting at Christmas - I visited the bank and they said they could open one for me there and then if I liked. I didn't open that account as I wanted to do some more research first.

I have opened an account with another NZ bank since being back in the UK, and that was pretty simple - it was all sorted out using email. As the NZ bank I opened the account with doesn't have any branches in the UK, I was asked to go along to another bank (the Commonwealth Bank of Australia, I think) to prove my identity, but I think I might only have been asked to do that because I was also taking out a mortgage with them.

I can't give you any advise on which bank to go with, I'm afraid, as I opened my bank account with the bank we used for the mortgage, and that was our sole reason for choosing them. I will be opening another account when I get to NZ, and will choose that account purely on the branches of banks that exist where we are going.

[nippa&pippa]

We opened account online with westpac, from UK called 'on call foreign currency account' that take any money from overseas, then opened online saver account (can't withdraw money from bank, you had to transfer funds into current account if you wish withdrawn money) or current account (one with card) that you can transfer your foreign currency into NZD. We use bank's address till we found rental place as westpac happy for you to use their address temporary.

[Park City Partner]

You might try giving the Migrant Banking people a call at Wespac. I had a contact there, Jo, but the last time I emailed it bounced so she may be gone but the phone number I have for them is: 09 302 428 so if you are dialling outside of NZ you would use 64 9 302 428....they are pretty helpful there and I know several forum members have used them as well....good luck.

[Ana&Steve]

I opened an ANZ savings account from the States and transfered money, no prob. We can't do any other banking besides deposits until we are physically present to sign papers and choose a different acct than the savings acct we signed up for.
Ana

[tick tock]

We opened an on line account with BNZ while living outside NZ

They where great the only thing you cannot do is get credit cards untill you are resident...we where told you needed to be on at least a 2 year WP to get one.


We used our overseas address...no problem

[gpbenton]

I opened an account with Westpac before moving to New Zealand. I transfered some money into the account and then had to turn up at a branch with a passport before I could withdraw any money. The whole process was very smooth. The details are on their website here

http://www.westpac.co.nz/olcontent/olcontent.nsf/Content/Moving+to+New+Zealand