Opening a bank account in New Zealand

See how easy it is for you to open a bank account in New Zealand, which documents you need and how to apply.

Key takeaways

  • British citizens can open a bank account in NZ.
  • You’ll need to be a permanent resident or have a work, study or residence visa to open one.
  • Some bank accounts that don’t charge monthly fees.

If you’re thinking about moving to New Zealand, you’ll need a way to manage your finances there. We’ve written this guide for you to learn more about opening a bank account in New Zealand as a British citizen.

Can a British citizen open a bank account in New Zealand?

Yes, you can open a bank account in New Zealand if you’re a British citizen. You’ll need an address in NZ to do so.

If you’re not a permanent resident, you’ll need a work, study or residence visa to open one.

Using Revolut as an e-money account

Revolut Standard Account

Revolut Standard Account

7.6 Great
See dealRead review
Minimum opening balance£0
Account fees£0
Interest (AER)0% AER
Get a £20 welcome bonus when you spend your first £20 (T&Cs apply).

Revolut launched in New Zealand in 2023 and has applied to become a registered bank. If approved, it would become the first global digital bank in the country.

You can still open a Revolut account in New Zealand or use your existing UK-opened account. It could come in handy when you first arrive if you use it to transfer your money between New Zealand and the UK, because it has competitive exchange rates and transparent fees. You could also spend with the debit card and withdraw NZ dollars from ATMs, though your account allowances will depend on which account tier you’re on.

The key requirements of opening a bank account in New Zealand

To open a bank account in New Zealand, you’ll need a valid passport and a visa that shows your residence status. You’ll also need proof of a residential address, which could be a utility bill, letter from a bank or employment agreement. Some banks might require a minimum opening balance when you open an account, so check what’s required before committing.

Below is a list of some of the most popular banks in New Zealand. Some of them will let you open an account online ahead of your arrival, provided you have all the required documents:

  • ANZ
  • ASB
  • BNZ
  • Westpac
  • Kiwibank
  • Heartland Bank

Are there fees?

All the biggest banks in New Zealand have accounts that come with no monthly or transaction fees, but they’re usually quite basic. It might be a good idea to start with one of them when you first arrive then see what you’re likely to need later on.

Some accounts charge fees but come with more features, while others will waive the fees if you meet deposit requirements or make enough transactions on a linked card.

Bottom line

It’s relatively easy to open an account as a foreigner in New Zealand as long as you have a residency visa, but you need to make sure you fulfil all the eligibility requirements. New Zealand has a small population so there isn’t as much choice of banks as larger countries, but there are still plenty of options. Most banks offer basic free accounts, which could be a good starting point ahead of your arrival there or when you first arrive.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
Jason Loewenthal's headshot
Senior writer

Jason is a writer and editor. He worked as a senior subeditor for Finder for 5 years and in that time became familiar with a wide range of financial products and services. Before that, he worked for Australian Associated Press. He has a BA from Macquarie University in Australia. Jason loves to help other people find new ways to save money. See full bio

More guides on Finder

Go to site