Expert Info

Posted by
on 20 Aug 2012
I'm going to New Zealand for a working holiday and I want to know if it's a good idea to open a bank account there or is it not worth it if I'm not going to be there for that long? Can I use my account at home and is it expensive to use an international bank account?
Anonymous (not verified) on 21 Aug 2012 - 08:11
Hi David.

Opening a bank account should be relativley easy in New Zealand as you'll just some straightforward documents like you passport, work visa, proof of residence in New Zealand, etc. The Bank of New Zealand even allow expats to open an account online, before they even arrive in New Zealand. 

Take a look at the Expat Arrival's page on Banking, Money and Taxes in New Zealand.

If you continue to use your bank account from your home country, usually transaction charges can get quite costly so it would be best to open a new account in New Zealand. However, you could possibly look into some international banking options if you want. Some banks like Nationwide in the UK, have an account where you can make withdrawls overseas without incurring the usual charges.

Best of Luck with the move. Enjoy New Zealand

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