As in the UK, you can use a debit card to make ATM withdrawals, purchases over the counter and get cash out using EFTPOS in New Zealand. Many UK debit cards will charge an additional fee for currency conversion when you transact in New Zealand dollars. There’s also the international ATM withdrawal fee to think about. However, some debit cards waive these fees so it pays to shop around and compare your options.
Compare UK debit cards with low transaction fees”
If you want to apply for a credit card to use overseas, look for cards that don’t charge a currency conversion fee when you’re transacting in a currency other than British pounds. Most credit cards also offer a grace period of up to 56 days where no interest is charged if you pay your balance in full before the end of the statement period. Some credit cards also offer complimentary travel insurance, which could save you the time and money you’d need to organise your own.
Don’t use your credit card to withdraw money from an ATM, though. Credit card withdrawals are considered cash advances and will usually incur high interest and a fee.
You can hold New Zealand dollars on almost every prepaid travel card on the market. The benefits of a travel card include that you can load British pounds and convert the funds to New Zealand dollars at a fixed rate of exchange. This means that you can spend in New Zealand without paying extra for currency conversion. You also get a backup travel card, which could come in handy if you lose your card.
There are drawbacks too, however. There are a number of fees you may have to pay, such as international ATM withdrawal fees, card issue fees, initial load fees and reload fees. Some travel cards even charge for inactivity.
Compare prepaid cards for travelling”
Traveller’s cheques have been replaced by other travel money products such as debit cards, credit cards and travel money cards. A cheaper way to get cash in New Zealand is to make an ATM withdrawal. This is especially so if your card provider has a relationship with the bank that owns the ATM. The main advantage of traveller’s cheques is they can be replaced if they’re lost or stolen, and only you can cash them. The card schemes (Mastercard, for example) give you a money-back guarantee if you’re the victim of card fraud. This means traveller’s cheques are often more hassle than they’re worth.
Save on foreign currency exchange fees by using a product which lets you make cheap ATM withdrawals. Currency exchange offices charge a commission to exchange British pounds as well as making money off a margin applied to the exchange rate.
| Auckland | Budget | Mid-range | Expensive |
|---|---|---|---|
 | Hostel dorm £15–£35 per night | 2-star hotel £25–£70 per night | 5-star hotel £150–£500+ |
 | Vegan and vegetarian diner £7–£15 | Dinner at a mid-range restaurant £25 per person | 5-star restaurant £60+ per person |
 | Walking tour of Indigenous New Zealand £20–£30 per person | Waitomo Caves and Rotorua day trip £230 per person | Skydive from 16,500ft tour £260 |
*Prices are approximate and are subject to change.
If you’re wondering about card acceptance, it works in New Zealand the same as the UK. ATMs are everywhere and nearly all businesses accept EFTPOS payments, which you can use for contactless purchases and to get cash out over the counter when you use your debit card. To give you an idea, 70% of all EFTPOS transactions in New Zealand go through the Worldline (formerly Paymark) system, so there’s no issue using your Visa and Mastercard credit card or debit card. American Express cards are accepted in fewer places than Visa and Mastercard. ATMs are available in most towns with the major banks represented: ANZ, ASB, Bank of New Zealand (BNZ) and Westpac.
| Travel money option | Pros | Cons |
|---|---|---|
| Debit cards for travel |
|
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| Prepaid travel money cards |
|
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| Credit cards for travel |
|
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| Traveller’s cheques |
|
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| Cash |
|
|
This table is a general summary of the travel money products in the market. Features and benefits can vary between cards.
Mike was travelling in New Zealand and wanted to spend some time in Queenstown, a town in the South Island that is recognised as providing the best overall skiing experience in New Zealand. The snow, the nightlife, the food and the atmosphere are all top notch.
Where did he go?
Mike visited the Coronet Peak resort, which is about 20 minutes away from Queenstown. He stayed in town for a couple of weeks and did the commute each day. He also skied at The Remarkables and Cardrona peaks.
Where could he use his cards?
Mike discovered he could use his debit and credit card almost everywhere, including on the mountain to pay for his ski pass, rental and drinks at the end of the day. However, small purchases like coffee and hot chocolate were mostly cash only. In Queenstown he used his card at restaurants, bars and clubs. He took the shuttle to the mountain and back every day and used his card to purchase tickets.
What about ATM withdrawals?
Mike used an ATM a couple of times, but was mostly able to pay with his travel Visa debit card. He got cash out when he made purchases with the travel Visa a couple of times. He was able to get up to a hundred dollars on each occasion, but this depends on the merchant and how much cash they have in the till. When he did use the ATM, he had to pay the local ATM operator fee. There were no issues with card acceptance at New Zealand ATMs.
* This is a fictional, but realistic, example.
You can bring the British pound equivalent of $10,000 New Zealand dollars with you from the UK. If you take any more than this, you have to declare your cash when you pass through customs. You will get a better deal if you wait to get your money changed in New Zealand, and even better still if you make a withdrawal from an ATM rather than use a money changer. If you want to get your money changed in the UK, have a look at these companies – they can sell your foreign cash.
As a flourishing modern economy, New Zealand offers visitors the ability to withdraw cash from a wide range of ATMs across the country. Visa and Mastercard are widely accepted, while American Express can be used but is not as widely accepted by merchants.
New Zealand dollars can be held on pretty much every prepaid travel money card on the market today, leaving you with plenty of choice when it comes to buying currency at a decent, fixed rate. So whether you use cash, prepaid travel money cards or credit and debit cards, you’ll be well accommodated.
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