Opening a Bank Account in New Zealand: How Does It Work?

Typically, all banks are open at least from 9:30 AM – 4:00 PM during the week. In major cities, sometimes even longer. Some banks are also open on Saturdays.

Here are the contact points and ATMs on Google Maps:

• Westpac Contact Points
• Kiwibank Contact Points
• BNZ Contact Points
• ANZ Contact Points

Note: To open your bank account in New Zealand, you should definitely schedule an appointment in advance.

You get your German Tax Number/Tax ID from the Federal Central Tax Office or your responsible tax office. This isn’t difficult, but it can take up to six weeks.

So make sure to take care of it in time.

Why do you need the Tax ID?

Besides opening the bank account, you also need your German Tax ID to get your IRD Number (which is your New Zealand tax number). There’s really no way around it.

Here you need to prove an address in New Zealand. Tricky, since you don’t really have an address as a backpacker. Typically, you can use a hotel/hostel address here. It’s a good idea to briefly discuss this with the owner to be safe.

Devonport is a great first contact point, especially for starting out. The ANZ there is a great choice as a bank for backpackers. As part of our Starter Package, we handle all bank-related matters there.

Address

6 Victoria Rd, Devonport
Auckland 0624
See on Google Maps

Phone

0800 269 296

Important

Be sure to schedule an appointment before your visit. Ensure the account is ready for tax number application after opening.

As an alternative to Devonport, Parnell is also a great starting point. ANZ here is also a good choice for your bank. As part of our Starter Package, we alternatively handle all bank-related matters there.

Address

135 Parnell Rd, Parnell,
Auckland 1052
See on Google Maps

Phone

0800 269 296

Important

Be sure to schedule an appointment before your visit. Ensure the account is ready for tax number application after opening.

Back then, we opened an account with Westpac. This was practical for us since Westpac is Deutsche Bank’s partner bank, allowing us to withdraw money with our German EC card for free.

The exact procedure varies from bank to bank.

For us, it went like this:

To open our bank account in New Zealand, we simply went to a Westpac branch and scheduled an appointment on-site. We were explained how online banking works, and we could choose our PIN numbers. Immediately afterwards, we received our stylish new bank cards, which we could use right away. We didn’t have to pay any fees because we opted out of paper account statements.

That was it.

Online banking is definitely nice to have but needs to be activated with some banks. Since you’re already on-site during the appointment, you can ask about it then.

When you open your bank account in New Zealand, you’ll naturally receive your EC card (here known as an “Eftpos” card). You can now withdraw cash at ATMs (Automated Teller Machines = Geldautomaten). Yay!

Still, a credit card is essential abroad. For many online bookings (tours, events, entry), you often need a credit card. The same goes for companies selling or renting cars.

Because many banks in New Zealand charge hidden costs and fees for their credit cards, we currently recommend getting your credit card in Germany before your trip.

Just check out our current recommendation.

Let’s say you want to send 1000 Euros internationally as New Zealand Dollars to NZ. In theory, your 1000 Euros should be converted using the current EUR-NZD exchange rate and sent to your bank account in New Zealand.

That’s it. Right?
Unfortunately, not.

German banks quite commonly do the following things:

1. A flat fee (entirely made up) that always applies, regardless of how much you want to transfer.

2. A percentage fee (entirely made up) based on the amount you want to transfer.

3. They simply adjust the exchange rate slightly in their favor.

Wa… What? The fact that this is legal blows our minds every time. We definitely don’t want to support that.

Be cautious with “free” credit cards from various internet providers or banks. These often have their fees cleverly hidden in the exchange rates. In the end, you often pay more than you think.