Opening a NZ bank account and which bank to approach???

[G Prinsen]

The ANZ Bank has special "New Residents Services Teams" that will assist you greatly to open a bank account in NZ.

However, it's recommended that you take great care with ANZ's "immigrant services" because the ANZ also uses the information that you provide to these teams to link you up with their "special financial advisers".

These ANZ financial advisers may push you into products and services that may not need or cost you dearly.

The banking sector in NZ hads been pretty 'deregulated' in the 1990s and 'customer protection' may not quite be what you would expect.

The sad story of one immigant who took the advice of ANZ's special financial advisers is here: http://www.youtube.com/watch?v=30W3xDSviJc

Cheers.

[Red Devil]

Hmmm, just watched (and read) the link... reckon we'll be staying clear of ANZ then

[Will_2007]

I opened an account with ASB while we were still in the UK, the guy in their London branch was really helpful, I got his direct line and email address (can you imagine getting those details from a UK bank employee?!? You can't even get the branch phone number at most banks!).

He opened a holding account for me in the UK, which I paid £ into, and current and savings accounts here in NZ. He sent me daily emails of the exchange rate (the bank's trading rate, much better than the tourist exchange rate) and I just rang him when I was happy with it and he transferred the cash over from the UK to the NZ account. Easy as, as they say over here.

Once we got here the staff in our local branch were really helpful too. I've not had experience of any other banks, but I'd recommend ASB. Their online banking is also good.

[Red Devil]

All sorted with regards the bank... we decided to go with Westpac and already the level of service far exceeds the UK's standard (IMHO).

Within 24 hours of emailing our application form, we received an email confirmation from 'the migrant branch manager' himself in Upper Riccarton (Chch), welcoming us and advising of our bank account details, plus mentioning points that need to be done when we first arrive in Chch... all helpful stuff

Thanks all for your help and advice, it's much appreciated.

Simon

[victoria24]

[BodaciousBean]

Thank you so much for starting this thread because just last night, hubby and I were discussing this. We would like to open an account in NZ before we leave the US. So this is thread is very useful!

[Scibby]

Thank you so much for starting this thread because just last night, hubby and I were discussing this. We would like to open an account in NZ before we leave the US. So this is thread is very useful!

The exchange rates took pretty good now. Better then the $1US = $1.24NZ I was seeing last year.

[BodaciousBean]

The exchange rates took pretty good now. Better then the $1US = $1.24NZ I was seeing last year.

Hubby just saw last night it is 1.88!! Hope that stays like that for some time.

[elleann]

I dithered for ages over which bank to choose and as a result, left it horribly late!! I only faxed off my application to Westpac about five days before we were due to leave, but even so, they responded within 24 hours, sent me banking details within three days and I was able to transfer money over before we left - whew! In the email, they included a 'Why did you choose us?' section and my rather embarrassing answer was 1. because you have a lot of ATMs all over the place! and 2. I liked the sound of the name 'Westpac' - sounds like it means Western Pacific, which is a lot more exotic than the very dreary Standard Bank I have used for the last twenty odd years!

However, so far I am really, really happy with the service which, as Bod Bean said, vastly exceeds anything I have experienced in South Africa. There seemed to be excellent communication between branches, we were expected, we were promptly and efficiently processed with great friendliness, and I now have a savings account and a current account with NO fees at all attached to it at all (unless I get a transaction done in a branch). Plus! my daughter of 17 has her own account which she can transact on just as I do on mine and she can access it online for free - none of this was available to her in SA. So WESTPAC gets a big thumbs up from us so far!!