Banking and finances

Banking and Finances

Opening a local bank account

All international students would be able to benefit from opening a local bank account because there are perks available for students and you can also avoid paying for withdrawal fees from local ATMs. You will receive a debit card by opening a current account, which is by far the most popular payment method in New Zealand.1

Some banks have multilingual teams to make it easier for you to apply for an account.

The major banks in New Zealand are ANZ, Kiwibank, BNZ and ASB. You would be able to set up your account before you arrive in New Zealand and fix a future appointment date to activate your account. You can apply for a bank account as early as 90 to 180 days before your arrival. It only takes around three to five working days to successfully set up your bank account before arriving in New Zealand.

MABECS Global education advisors would recommend students to find out the bank ATM that is the nearest to your accommodation or campus – and then consider applying an account with this bank for your convenience and to avoid extra withdrawal charges.

If you’d like to find out more on average fees and cost of living in New Zealand, read this article by MABECS Global education advisors.

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