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Best Banks for New Arrivals to New Zealand 2026

Updated

Choosing the right bank when you arrive in New Zealand saves time and frustration. Some banks actively cater to new arrivals; others are harder to set up without an established NZ history.

Quick answer

ASB and ANZ are the easiest banks for new arrivals — both offer online account opening before you land in NZ. Kiwibank is the best choice if you prefer NZ-owned banking. For international transfers, pair any NZ bank with Wise to avoid expensive bank wire fees.

What New Arrivals Need from a Bank

Priority Best option
Open account before arriving ANZ or ASB
NZ-owned bank Kiwibank
Cheapest international transfers Wise (alongside a NZ bank account)
No monthly fees ASB, Kiwibank, BNZ, or ANZ (all have $0 everyday accounts)
Best mobile app ASB
Widest branch network ANZ or Westpac

Bank-by-Bank Comparison for New Arrivals

ANZ — Best for Pre-Arrival Setup

ANZ is New Zealand’s largest bank and has a well-established process for new arrivals, including the ability to apply before you land.

Feature Detail
Pre-arrival account opening Yes — available for skilled migrants and work visa holders
Documents needed Passport, NZ visa, planned NZ address
Online opening Yes
Monthly fee $0 on ANZ Go Account
App quality Good — real-time notifications, mobile payments
Branch network Largest in NZ

Best for: People who want their account sorted before they arrive and value branch access nationwide.

ASB — Best Overall for New Arrivals

ASB consistently rates highly among new arrivals for ease of account opening and app quality.

Feature Detail
Pre-arrival account opening Yes — international new customer process
Documents needed Passport, NZ visa, NZ address (offer letter accepted)
Online opening Yes
Monthly fee $0 on ASB Streamline Account
App quality Excellent — widely regarded as the best major bank app in NZ
Branch network Good coverage in major cities

Best for: People who prioritise a great digital experience and want the easiest account setup.

Kiwibank — Best NZ-Owned Bank

Kiwibank is government-backed (NZ Post/SuperFund/ACC ownership) and appeals to those who prefer keeping their money in a NZ institution.

Feature Detail
Pre-arrival account opening Limited — generally requires NZ presence
Documents needed Passport, visa, NZ address
Online opening Yes
Monthly fee $0 on Kiwibank Free Account
App quality Significantly improved after 2024 rebuild
Branch network Via NZ Post outlets — decent national coverage
Zero Visa card No annual fee, no foreign transaction fees — excellent for travel

Best for: Those who value NZ ownership and want the Zero Visa card for fee-free international spending.

BNZ — Solid Everyday Banking

BNZ (Bank of New Zealand) is Australian-owned (NAB) but has a strong NZ presence and a straightforward account setup.

Feature Detail
Pre-arrival account opening Limited
Online opening Yes
Monthly fee $0 on BNZ Flexi Account
App quality Good
Branch network Good coverage in main centres

Best for: Those who want a no-fuss everyday account and competitive term deposit rates.

Westpac NZ — Extensive Network

Westpac NZ operates as a separate NZ entity from Westpac Group (Australian parent).

Feature Detail
Pre-arrival account opening Limited
Online opening Yes
Monthly fee $0 on some accounts (check conditions)
Branch network Extensive — alongside ANZ as the two largest networks

Best for: Those who need broad branch access or whose employer uses Westpac for payroll.

What Documents Do You Need?

Document Required?
Valid passport Yes — all banks
NZ visa (work, student, resident) Yes — for non-NZ citizens
Proof of NZ address Yes — employer offer letter, accommodation confirmation, or similar
IRD number Not always required at opening, but needed to avoid highest RWT rate
NZ driver licence Helpful but not required if you have a passport

International Transfers: Use Wise Alongside Your Bank

NZ banks charge $15–$35 per international transfer plus a poor exchange rate margin. If you’ll be sending money to family overseas or receiving international funds, Wise is far cheaper.

Wise uses the mid-market exchange rate and charges a small, transparent fee. For most transfers, Wise costs 3–5x less than a bank wire.

  1. Apply to ANZ or ASB before you arrive if possible — have your account number ready for your employer from day one
  2. Bring physical document copies to complete in-branch verification when you land
  3. Apply for your IRD number within the first week — at ird.govt.nz with your passport and visa
  4. Set up Wise separately for any international transfers
  5. Consider the Kiwibank Zero Visa as your credit card — no annual fee, no foreign transaction fees, accepted internationally

Opening Requirements by Bank

Bank Can open before arrival? Accepts offer letter as address? App
ANZ Yes Yes ★★★★
ASB Yes Yes ★★★★★
Kiwibank Limited Yes ★★★★
BNZ No Yes ★★★★
Westpac No Sometimes ★★★

For Specific Situations

Working holiday visa: Any bank will open an account. ANZ and ASB are simplest. Kiwibank Zero Visa is ideal for travel spending.

International student: ASB and Kiwibank are recommended — both experienced with international students. Your halls of residence letter is sufficient proof of address.

Skilled migrant / resident visa: ANZ pre-arrival process is specifically designed for this pathway.

Refugee or humanitarian visa: Contact your resettlement organisation first — they often have arrangements with specific banks for assisted account opening.

Next Steps