Did you make the decision to go to New Zealand? It doesn’t matter if it’s for a professional or personal reason, know that you simply need to open a bank account in this country. In this way, you will avoid paying a lot of money. However, it is very simple to open a New Zealand bank account if you have all the necessary information. Now let us know everything about New Zealand banks.
What formalities to open an account?
Let’s start with the opening hours. In New Zealand, banks are open on weekdays from Monday to Friday from 9:30 a.m. to 5:30 p.m. m. to 5:30 p.m. m. meter. at 4:30 p.m. However, big cities like Auckland or Wellington are open on Saturday mornings.
Many banks in the country have free accounts that include credit cards. Eligible status for travelers with a Working Holiday visa. This is not easy! In fact, keep in mind that previous PVT candidates may be wrong if you ask for advice on the subject, since the rules are not the same. In fact, since the last anti-money laundering legislation in 2013, security controls have clearly improved.
Presentation of proof of address is required to open an existing account. However, you do not have this type of proof when you come to New Zealand. Therefore, you must replace your electricity or mobile phone bill with an IRD certificate from the New Zealand Revenue Services. This is also possible for a youth accommodation certificate.
An IRD number is received within one to three weeks. So if you haven’t found a home in outer space New Zealand, you’ll need to open a bank account for a while. After a bank meeting, take two identification documents. A passport, but a driver’s license gives you the opportunity to turn corners and improve the system.
Why should I open an account in New Zealand?
In order to receive a salary if you work
If you want to work during your PVT year, you must have an account in New Zealand. Yes, your employer will ask you for your account number to give it to them, if you don’t have an account in New Zealand, it can make it very difficult for them. In fact, your employer may not want to give you an account in your home country because you will incur additional charges if you do not have a New Zealand bank account. The easiest way is to open an account with one of the New Zealand banks, which is usually not too complicated and does not take long.
To pay for services, goods, accommodations and not have unnecessary bank charges
Having a bank account in New Zealand will be very useful for you on a day-to-day basis. On the other hand, the cards we have in other countries are mostly credit cards. However, the latter will result in additional charges for your spending within New Zealand and may be refused in some areas. That is why we recommend you open an account in New Zealand to obtain a credit card and avoid extra charges.
This card will give you the opportunity to avoid commissions related to credit cards, but also in terms of exchange commissions demanded by banking groups. With a credit card you can pay without worries, activities and all your purchases or accommodation. Unlike a credit card, keep in mind that a credit card can also be used to pay online.
Payment by EFTPOS
When you’re comparing payments, you may be surprised when you make a purchase with your first card. In fact, the person may ask if you want to set up EFTPOS. This unknown term corresponds to the payment system, which has been implemented throughout New Zealand. After that, you have to choose the type of account you want to pay from the terminal. If you have a bank card, you must select the “check” option. However, if it is a credit card, select the “credit” option. If you select the wrong option, the transaction will not work and you will have to do everything again.
What bank charges?
Depending on the account you wish to open, you will not pay the same fees. Therefore, you should be careful to pay attention to the terms and conditions of your bank. Here are the main costs you will face:
Account Maintenance Fees
You do not settle the first year with a lot of banks. They depend on the offer you have chosen.
Si ka duwan wadamada kale ee aad ka faa’iidaysan karto tiro aan xadidnayn oo ka bixitaan iyo lacag bixin ah, waxaad inta badan yeelan doontaa tiro xadidan oo lacag la’aan ah bishiiba(ku dhawaad 30 sida qaanuun ahaan). Si la mid ah Australia iyo Canada, waxaad dukaanka ku bixin kartaa kaarkaaga oo waxaad ka dalban kartaa lacag caddaan ah oo dhan $50. Natiijo ahaan, bixinaysaa wax $50 cera ka badan wax iibsigaaga taasina wax kuu ogolaanaysaa inaad hesho $50 lacag caddaan ah.
Any withdrawal made in a bank other than yours will usually cost you $1.
Fees in relation to international transfers
When you open your New Zealand bank account, you will need to deposit funds into your French or Belgian bank account. We strongly advise you to be wary of banks that offer free money to newcomers. If you feel that you are not paying, they are hidden in the exchange rate that the bank makes during the transfer. You only have one point to remember in this matter: avoid going through your bank to carry out transactions as much as possible. The cheapest option is to go through a transfer operator: this way you can save up to 80% compared to bank commissions.