Opening a new bank account in New Zealand to put your moo-lah in, is a smart move.

Opening a Bank Account in New Zealand for Travellers

Opening a new bank account in New Zealand is one of the first things you’ll want to tick off your list when you arrive, especially if you’re on a NZ Working Holiday Visa.

With all the different account types, fees, and banks to choose from, it can feel a bit overwhelming at first.

But don’t worry! Opening a NZ bank account is pretty straightforward, even if you’re a traveller or backpacker.

To make it even easier (and less boring), I’ve put together this simple step-by-step guide to walk you through the process of opening a bank account in New Zealand for travellers AND applying for your IRD number.

This guide will help you understand your options, whether you’re visiting short-term or planning a working holiday.

Do You Need a Bank Account in New Zealand?

If you’re planning a working holiday in New Zealand, opening a bank account is one of the first things you should set up when you arrive. While you can travel around New Zealand without a local bank account, you will need one if you plan to work, get paid, rent a place to live, or stay in the country for more than a few weeks.

Having a local bank account makes getting paid in New Zealand much easier, as most employers won’t pay into overseas accounts. So if you’re planning to get a job, opening a bank account is essential.

You’ll also usually need a bank account to apply for an IRD number from the Inland Revenue, which you need to work legally in New Zealand.

You should open a New Zealand bank account if you:

• Are on a working holiday visa
• Are planning to get a job in New Zealand
• Are staying in New Zealand long-term
• Need an IRD number
• Want to make it easier to pay rent and bills
• Are buying a car or travelling around New Zealand for several months

You may not need a New Zealand bank account if you:

• Are visiting New Zealand for the short term
• Are not planning to work
• Are travelling for a few weeks or months only
• Are using a travel card or a digital bank like Wise or Revolut

Many travellers who move to New Zealand on a working holiday actually use both a New Zealand bank account and a digital bank. They use the New Zealand bank account to get paid from their job, and a digital bank account to transfer money from home and use while travelling.

So while not every traveller needs a New Zealand bank account, most working holiday makers and long-term travellers will need one at some point during their time in New Zealand.

Best Bank Accounts for Working Holiday Makers in New Zealand

If you’re moving to New Zealand on a working holiday, you’ll probably want to open a local New Zealand bank account once you arrive. While digital banks like Wise are great for travel, most employers in New Zealand will pay your wages into a New Zealand bank account, and it also makes things like paying rent, buying a car, and paying bills much easier. 

• You need a local NZ bank account to get paid
• Employers prefer local accounts
• You’ll need a bank account for your IRD number
• Easier to pay rent, buy cars, etc.

The main banks in New Zealand are ANZ, ASB, BNZ, and Westpac. These are often called the “big four” banks, and most working holiday makers choose one of these because they have branches and ATMs all over the country.

But which one do I pick?

No worries! I’ve done the hard work for you, you lucky person. Here’s a quick overview of each bank and why it might be a good option for travellers and working holiday makers.

ANZ

ANZ is one of the largest banks in New Zealand and a very popular choice for working holiday makers. Many travellers choose ANZ because it has branches and ATMs all over the country, which is helpful if you’re moving around a lot.

The most common everyday account is the ANZ Freedom account, used for day-to-day spending and receiving pay from jobs. It comes with a debit card and online banking app, and in many cases, the monthly fee is waived if you deposit a certain amount each month.

Why travellers choose ANZ:

• Easy to open an account
• Lots of branches across New Zealand
• Good mobile banking app
• Easy to receive wages from employers
• You can start the application before arriving in New Zealand in some cases

ASB

ASB is another popular bank for travellers moving to New Zealand. One of the biggest advantages of ASB is that you can apply for a bank account before you arrive in New Zealand, which makes things much easier when you first land.

ASB offers everyday accounts with no monthly account fees and a Visa debit card, which is useful for everyday spending in New Zealand.

Why travellers choose ASB:

• You can apply before arriving in New Zealand
• No monthly account fees on everyday accounts
• Visa debit card available
• Good online banking

BNZ

BNZ is another good option for working holiday makers, especially if you prefer doing everything online. BNZ offers everyday accounts like the YouMoney account, which is designed for everyday spending and managing your money online.

Why travellers choose BNZ:

• Good online banking
• Easy everyday spending accounts
• Branches and ATMs across New Zealand
• Good budgeting tools in the app

Westpac

Westpac is also a popular bank for people moving to New Zealand. Westpac offers everyday accounts with no monthly account fees, and in some cases, you can open your account before you arrive in New Zealand, which can make moving much easier.

Why travellers choose Westpac:

• No monthly fees on everyday accounts
• Can open an account before arriving
• Good mobile banking app
• Debit card available
• Budgeting tools in the app

Travel Tip

There’s no huge difference between these banks for most travellers. If you’re on a working holiday in New Zealand, the best option usually comes down to:

• Which bank is closest to you
• Whether you want to apply before arriving
• Which app you prefer

Which Bank Is Best for Working Holiday Makers?

Honestly, there isn’t one “best” bank in New Zealand for working holiday makers — most travellers choose ANZ, ASB, BNZ, or Westpac, and they all offer similar everyday accounts for spending and getting paid. The best bank for you will usually depend on:

• Which branch is closest to you
• Whether you want to open your account before arriving
• Which app do you prefer
• Whether you plan to travel around New Zealand a lot

Many working holiday makers simply choose one of the big four banks and then also use a digital bank like Wise for transferring money between countries and travelling. This is often the easiest way to manage your money while living and travelling in New Zealand.

Best Digital Bank Accounts for Travellers

In the past, most working holiday makers in New Zealand opened a bank account with a traditional bank like ANZ or ASB. But these days, many travellers use digital banks instead, especially if they are travelling between countries or don’t want to deal with lots of international transfer fees.

Digital bank accounts are great for travellers because you can hold multiple currencies, transfer money between countries, and use a debit card in New Zealand and overseas.

Using the right setup for your travel money in NZ can help you avoid unnecessary fees while spending and transferring money.

Here are the most popular digital bank options for travellers in New Zealand:

Wise

Wise is one of the most popular options for travellers and working holiday makers. It’s a multi-currency account that lets you hold and convert money in different currencies, including New Zealand dollars.

With Wise, you can:

• Get New Zealand bank details
• Hold money in NZD, AUD, USD, GBP and more
• Transfer money between countries with low fees
• Use a Wise debit card in New Zealand
• Get paid by New Zealand employers (in many cases)

Many travellers use Wise when they first arrive in New Zealand, and then open a local bank account later once they find a job.

Good for: Travellers, digital nomads, and working holiday makers moving money between countries.

Revolut

Revolut is another digital banking app that has become more popular in New Zealand in recent years. Like Wise, Revolut allows you to hold multiple currencies and use a debit card internationally.

With Revolut, you can:

• Hold and exchange multiple currencies
• Use a debit card in New Zealand
• Track spending in the app
• Split bills with other travellers
• Transfer money internationally

Revolut is especially popular with younger travellers and backpackers because the app is very easy to use and good for budgeting while travelling.

Good for: Budget travellers, backpackers, and travellers visiting multiple countries.

Should You Use a Digital Bank or a Traditional Bank?

This really depends on your situation.

• If you’re working in New Zealand, you’ll probably still want a local New Zealand bank account so your employer can pay you and so you can set up things like rent and utilities.
• If you’re travelling around New Zealand and not working, a digital bank like Wise or Revolut may be all you need.
• Many working holiday makers actually use both — a New Zealand bank account for getting paid, and a digital bank for travelling and transferring money from home.

Top Tip for Travellers on a New Zealand Working Holiday Visa 

A lot of travellers arriving in New Zealand will:

1. Open a Wise account before they arrive
2. Use Wise for their first few weeks
3. Open a New Zealand bank account once they get a job
4. Use both accounts while living and travelling in New Zealand

This is often the easiest way to manage your money when you first move to New Zealand.

If you’re backpacking in New Zealand and not planning to work, you may not need a local bank account and can rely on a Wise travel card instead.

How to Open a Bank Account in New Zealand (Step-by-Step)

The process of opening a bank account in New Zealand is actually quite simple once you know what to expect, but there are a few steps you’ll need to follow. 

If you’re on a working holiday visa, this is usually one of the first things you should do after you arrive in the country. And if you’re moving to New Zealand, setting up a bank account early will make settling in much easier.

Here’s how to open a bank account in New Zealand as a traveller or working holiday maker.

Step 1: Choose a Bank

The first step is to choose which bank you want to open an account with. Most working holiday makers choose one of the main banks in New Zealand, like ANZ, ASB, BNZ, or Westpac, because they have branches and ATMs across the country.

If you’re not sure which bank to choose, pick one that:

• Has a branch in the city you arrive in
• Has no monthly account fees
• Let’s you open an account before you arrive (if possible)
• Has a good mobile banking app

Step 2: Apply Online (Optional)

Some New Zealand banks allow you to start your application online before you arrive in the country. This can save you a lot of time because you’ll just need to visit a branch to verify your identity and activate your account once you arrive.

This is a great option if you already know where you’ll be landing in New Zealand.

Step 3: Book an Appointment at a Bank Branch

Once you arrive in New Zealand, you’ll usually need to visit a bank branch in person to complete your application. Some banks require you to book an appointment, so it’s a good idea to check this online first.

Appointments are usually quick and straightforward, and the staff are used to helping working holiday makers open accounts.

Step 4: Take Your Documents

When you go to your appointment, you’ll need to take a few documents with you. This usually includes:

• Your passport
• Your visa
• Proof of address in New Zealand
• Your IRD number (if you already have one)

If you don’t have an IRD number yet, you can usually still open a bank account first and then apply for your IRD number afterwards.

Step 5: Activate Your Account

After your appointment, your bank account will usually be opened either the same day or within a few days. Your debit card will be posted to your New Zealand address, and you’ll be able to set up online banking and start using your account.

Once your account is set up, you can:

• Get paid from your job
• Pay rent and bills
• Withdraw money from ATMs
• Use your debit card to pay for things
• Transfer money from overseas

Top Tip for Working Holiday Makers

Try to open your bank account within your first week in New Zealand, especially if you’re planning to get a job. Many employers will ask for your bank account number and IRD number before they can pay you, so it’s one of the most important things to organise when you first arrive.

What Documents Do You Need to Open a Bank Account

When you open a bank account in New Zealand as a traveller or working holiday maker, you’ll need to bring a few documents with you to your bank appointment. The exact requirements can vary slightly between banks, but in most cases, you will need the following:

1. Passport

Your passport is your main form of identification and is required to open a bank account in New Zealand. Make sure it is valid and matches the name on your visa.

2. Visa

You’ll need to show that you have a valid visa that allows you to be in New Zealand. This could be a:

• Working holiday visa
• Work visa
• Student visa
• Resident visa

If you’re on a working holiday visa, this is usually enough to open a bank account.

3. Proof of Address in New Zealand

Most banks will ask for proof of your New Zealand address. This can sometimes be tricky when you first arrive, but banks usually accept things like:

• A rental agreement or tenancy agreement
• A letter from your hostel or accommodation
• A utility bill with your name and address
• A bank letter sent to your New Zealand address

Some banks will actually post a letter to your address, and you bring that letter back to the bank as proof of address.

4. IRD Number (If You Have One)

Your IRD number is a tax number issued by the Inland Revenue. You need this number to work and pay tax in New Zealand.

If you don’t have an IRD number yet, don’t worry — you can usually open a bank account first and then apply for your IRD number afterwards. In fact, many people open a bank account because they often need a New Zealand bank account to apply for an IRD number.

Quick Summary: Documents Checklist

Here’s a simple checklist of what to take to your bank appointment:

• Passport
• Visa
• Proof of New Zealand address
• IRD number (if you already have one)

How to Get an IRD Number in New Zealand

If you’re planning to work in New Zealand, getting an IRD number is essential. Your IRD number is a tax number issued by the Inland Revenue, and you’ll need it before you can start working and getting paid.

Your IRD number in NZ is required for working and making sure you’re taxed correctly.

Most employers in New Zealand will ask for your IRD number when you start a job, and without it, you may be taxed at a much higher rate. So it’s definitely something you should organise as soon as you arrive.

What is an IRD Number?

An IRD number is a unique number used to track your tax in New Zealand. Think of it like a tax file number (TFN) in Australia or a National Insurance number (NI) in the UK.

You’ll need an IRD number to:

• Work legally in New Zealand
• Get paid by your employer
• Pay the correct amount of tax
• Open some bank accounts
• Apply for certain government services 

The Inland Revenue is the tax authority for New Zealand. To work in New Zealand, you need an IRD number, this number is unique to you and will remain the same always.

Do You Need a Bank Account First?

In most cases, yes — you’ll need a New Zealand bank account before applying for your IRD number.

This is because Inland Revenue may ask for your bank account details as part of the application process. This is why many working holiday makers open their bank account first, and then apply for their IRD number shortly after.

How to Apply for an IRD Number

Applying for an IRD number in New Zealand is usually done online and is a fairly simple process.

Here’s how to do it:

1. Set Up a myIR Account

Go to the Inland Revenue website and create a myIR account, which is their online portal.

2. Complete the Application

Fill out your personal details, including your passport information, visa details, and contact information.

3. Upload Your Documents

You’ll usually need to upload:

• Your passport
• Your visa details
• Proof of your New Zealand bank account

4. Submit Your Application

Once everything is submitted, Inland Revenue will process your application.

How Long Does it Take to Get an IRD Number?

In most cases, you’ll receive your IRD number by text or email within a few working days, or by post within 10 days.  Although it can sometimes take a bit longer, depending on demand.

Top Tip for Travellers

Try to apply for your IRD number as soon as you’ve opened your bank account, especially if you’re planning to start work soon. It’s one of the key things you need to set up when arriving in New Zealand, along with your bank account and accommodation.

Can You Open a New Zealand Bank Account Before You Arrive?

Yes, some banks allow you to start the process of opening a New Zealand bank account before you arrive in the country. This can make things much easier, especially if you’re moving to New Zealand on a working holiday and want to get everything set up quickly.

Banks like ANZ, ASB, and Westpac often allow you to apply online from overseas. You’ll usually still need to visit a branch in person once you arrive in New Zealand to verify your identity and activate your account, but starting the application early can save you time.

If you don’t want to open a traditional bank account before arriving, another option is to open a digital account like Wise before you leave your home country. This way, you’ll be able to access your money, pay for things, and transfer money to New Zealand as soon as you arrive.

For many travellers, the easiest option is to open a digital bank account before arriving, then open a New Zealand bank account once you’re in the country and ready to start working.

Money Tips for Travellers in New Zealand

Managing your money in New Zealand is fairly easy, but there are a few tips that can make things cheaper and easier while you’re travelling or on a working holiday.

Use a mix of a local bank and a digital bank:
Many travellers use a New Zealand bank account (like ANZ, ASB, BNZ, or Westpac) for getting paid from jobs, and a digital bank like Wise for transferring money between countries and travelling. Using the right setup for your travel money in NZ can help you avoid unnecessary fees while spending and transferring money.

Watch out for international fees:
If you use a bank card from your home country in New Zealand, you may be charged international transaction fees and ATM fees. This is why many travellers choose to open a local bank account or use a travel card.

Most places in New Zealand are card-friendly:
New Zealand is very card-friendly, and you can pay for most things using a debit or credit card, including supermarkets, petrol stations, and accommodation. However, it’s still a good idea to carry a small amount of cash, especially in smaller towns.

ATMs are easy to find:
You’ll find ATMs all over New Zealand, especially in cities and larger towns. Just be aware that some ATMs may charge a withdrawal fee depending on your bank.

Budget for weekly expenses:
If you’re on a working holiday, it’s a good idea to set a weekly budget for things like accommodation, food, petrol, and activities so you don’t run out of money while travelling around New Zealand.

Managing your money is a big part of living in New Zealand as a traveller, especially if you’re staying long-term or working.

FAQs About Opening a Bank Account in New Zealand

Can tourists open a bank account in New Zealand?

In most cases, tourists cannot open a bank account in New Zealand unless they have a valid visa that allows them to stay in the country for an extended period. Most banks require you to have a working holiday visa, work visa, student visa, or resident visa to open a bank account.

If you’re visiting New Zealand short-term and not planning to work, you may not need a New Zealand bank account. Many travellers simply use a travel card or a digital bank like Wise instead.

What is the best bank in New Zealand for working holiday makers?

There isn’t one single best bank in New Zealand for working holiday makers, but most travellers choose one of the main banks: ANZ, ASB, BNZ, or Westpac. These banks have branches and ATMs across the country and offer everyday accounts that are suitable for getting paid and everyday spending.

The best bank for you will usually depend on which bank has a branch near you, whether you want to open an account before arriving, and which mobile banking app you prefer.

Do I need an IRD number to open a bank account?

No, you usually don’t need an IRD number to open a bank account in New Zealand. Most banks will allow you to open a bank account first, and then you can apply for your IRD number afterwards through the Inland Revenue.

However, you will need an IRD number before you start working, or you may be taxed at a higher rate.

Can I open a bank account before arriving in New Zealand?

Yes, some banks, such as ANZ, ASB, and Westpac, allow you to start your application online before arriving in New Zealand. You will still need to visit a branch in person once you arrive to verify your identity and activate your account.

Another option is to open a digital bank account like Wise before you arrive so you can access your money as soon as you land.

Can I use Wise in New Zealand?

Yes, you can use Wise in New Zealand. Wise allows you to hold and spend New Zealand dollars, use a debit card, and transfer money between countries with lower fees than many traditional banks.

Many travellers use Wise when they first arrive in New Zealand, and then open a local New Zealand bank account later when they start working.

How long does it take to open a bank account in New Zealand?

Once you’ve had your appointment at the bank and provided your documents, your bank account is usually opened either the same day or within a few working days. Your debit card will usually be posted to your New Zealand address and may take about a week to arrive.

Do I need a New Zealand bank account for a working holiday?

If you’re planning to work in New Zealand, then yes, you will almost certainly need a New Zealand bank account so your employer can pay you. You’ll also need a bank account to apply for your IRD number and to manage things like rent, bills, and everyday spending while living in New Zealand.

And that’s a wrap for this post on opening a bank account in New Zealand for travellers.

Opening a bank account in New Zealand is one of the most important steps when you arrive, especially if you’re planning a working holiday or moving to New Zealand long-term. It makes getting paid in New Zealand, managing your expenses, and settling into daily life so much easier.

Whether you choose a local bank or a digital option like Wise, the key is to get set up early so you can focus on enjoying your trip.

If you’re planning a working holiday in New Zealand or backpacking in New Zealand, having the right banking setup will save you time, money, and a lot of stress!

Next…👇

• Check out my post on how to apply for your New Zealand Working Holiday Visa, if you haven’t already got your visa.
• If you’re planning on flying into Auckland on your NZ Working Holiday Visa, be sure to read my best hostels in Auckland post to help you plan and book accommodation.
• And don’t forget to protect your money by getting travel insurance.

Happy and Safe Travels 🙂 

Alial.

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