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.
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.
- International money transfers from NZ — full comparison of options
Step-by-Step: Recommended Approach for New Arrivals
- Apply to ANZ or ASB before you arrive if possible — have your account number ready for your employer from day one
- Bring physical document copies to complete in-branch verification when you land
- Apply for your IRD number within the first week — at ird.govt.nz with your passport and visa
- Set up Wise separately for any international transfers
- 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
- How to open a bank account in NZ — full document requirements and process
- Compare NZ banks — full bank comparison
- International money transfers from NZ — cheapest ways to send money overseas
- Banking fees NZ — fees to watch for and how to avoid them