Before you can manage to live in New Zealand comfortably, you must first set up a bank account through a trusted New Zealand financial institute. You can choose to do this after your arrival into the country or you can try to get it all ready before you even step foot off U.S. soil. Either way, opening a bank account in the nation can be done as long as you’re able to provide the requested documentation and forms of proof.
To set up your bank account, you must first know what you need in order to maintain your lifestyle and finances. For instance, you’ll need to make sure you have access to your money as you need it and that your employer is able to easily direct deposit your earnings. Make sure you’re aware of all fees and operation procedures associated with the account you open. A financial advisor may be of some assistance if you feel it’s necessary to have professional guidance.
Banking in New Zealand
Many of the banking institutions in New Zealand provide secured online transactions and provide debit cards to those that hold accounts with them. Some even give credit lines to those who qualify. Debit and credit are New Zealanders preferred methods of payment. Most of the natives pay their bills and complete transactions through online banking and payment options.
To open a bank account you’ll need to provide various documents and proof such as a passport, birth certificate, photo ID, proof of residency in NZ, an IRD number issued by Inland Revenue, and the funds demanded by the bank you plan to hold an account with. To obtain an EFTPOS card, you must be over the age of 13 years old. Most financial institutes will issue this card upon opening a bank account so that you have immediate access to your money. NZ banks will not issue credit cards to non-residents of the country.
Ask the bank you chose about the fees associated with your account such as annual fees or overdraft charges. It is possible to find a banking facility that waves all fees and charges you nothing to have an account with them. You’ll need to do a ton of research before you settle with a bank to open an account with. To make sure everything is in working order after you relocate to New Zealand, you’ll want your banking all ready and available to you whenever you need to be.
The Cost of Living in New Zealand
The cost of living in another nation will certainly take some time getting used to. Luckily, New Zealand isn’t much different with its cost of living than that of the United States. You must make sure your money is available to you in your new bank account once you arrive. You never know what you may need money for once you move to the nation and start exploring and living. Below are some examples of what things may cost in New Zealand.
- Meal- NZ$18
- Fast food meal- NZ$11
- Milk and eggs- NZ$10
- Monthly rent in metropolis areas- NZ$2,550
- Utilities for the month- NZ$360
- Monthly internet access- NZ$75
- Monthly public transport pass- NZ$192
- Fuel cost per ¼ gallon- NZ$2.07
- Dinner for two- NZ$66
- Beer from local pub- NZ$10
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