The initial step to open an international student bank account in New Zealand is to know the categories of accounts available. Any study in New Zealand foreign national can opt for savings, current, or international accounts in the top banks of the nation.
After selecting the bank and account type, students from universities in New Zealand must apply for Inland Revenue Department (IRD) number. Furthermore, they must reach out to the banks to get a detailed list of requisite documents.
Moreover, it becomes essential to open a bank account as it helps an overseas student pay university fees, utility bills, student accommodation rent, and transportation costs. It is very important because cash is mostly useless in this island nation as some entities accept only debit cards/credit cards/Electronic Funds Transfer at Point of Sale (EFTPOS).
How to Open International Student Bank Account in New Zealand
If any study in New Zealand student is planning to open a local bank account, she/they/he can follow these steps:
- Firstly, research numerous banks in the country and compare the options they offer
- Secondly, check out the website for online bank opening applications
- Further, apply for the international student bank account in New Zealand online or book an appointment to start an account offline
- Finally, after making the appointment visit the chosen financial institution in person to meet the pending requirements and produce scanned copies of mandatory documents
Documents Required to Open International Student Bank Account in New Zealand
To open a bank account in this country, an overseas student must provide the following documents to the selected financial institution:
- A valid passport
- Proof of Address
- Letter of Acceptance from any of the universities in New Zealand
- Inland Revenue Department (IRD) number
Best Banks for International Students in New Zealand
Moreover, a foreign national studying in universities of New Zealand can open an international student bank account in New Zealand in any of the following financial institutions:
- Westpac Bank
- Kiwi Bank
- Australia & New Zealand Banking Group Limited (ANZ) Bank
- Auckland Savings Bank (ASB)
- Co-operative Bank
- Bank of New Zealand (BNZ)
- Trustee Savings Bank (TSB)
Stay in tune with Fly Finance News Desk to get the latest updates on international money transfers, study abroad loans, and other banking services abroad.
