Moving to a new country can be an exciting but challenging experience, and one of the essential tasks for migrants and expats is to set up a bank account. In New Zealand, several banks cater specifically to the needs of non-residents, offering a range of services tailored to the unique requirements of individuals who are new to the country. In this article, we will explore the best banks in New Zealand for migrants and expats, focusing on their offerings, benefits, and features:

  • Bank of New Zealand
  • Auckland Savings Bank (ASB)
  • Kiwibank
  • Westpac New Zealand
  • HSBC
  • Australia and New Zealand Banking Group (ANZ).

We will delve into the unique offerings of each bank to help you make an informed decision about which one suits your specific banking needs.

Banks in New Zealand for Migrants and Expats Comparison Table:

Bank Name Account Options Key Features
Bank of New Zealand (BNZ)
  • Everyday banking accounts
  • International banking services
  • Mortgage and home loans
  • Personalized financial advice
  • Mobile banking app with budgeting tools
  • Access to a wide network of ATMs
Auckland Savings Bank (ASB)
  • Transaction and savings accounts
  • Foreign currency services
  • Wealth management and investments
  • Innovative online banking platform
  • 24/7 customer support
  • Customizable savings goals and tools
  • Personal and business banking
  • Credit cards and loans
  • KiwiSaver retirement savings scheme
  • Dedicated support for first-home buyers
  • Ethical investment options
  • Award-winning mobile banking app
Westpac New Zealand
  • Transaction and savings accounts
  • Home loans and mortgages
  • Business banking services
  • Comprehensive range of insurance products
  • Online and mobile banking with budgeting tools
  • Financial planning
  • International banking services
  • Premier and Advance banking
  • Wealth management and investments
  • Global network with cross-border support
  • Foreign exchange services and solutions
  • Dedicated relationship managers
Australia and New Zealand Banking Group (ANZ)
  • Personal and business banking
  • Credit cards and loans
  • Insurance and wealth management
  • Extensive branch and ATM network
  • Accessible online and mobile banking
  • International money transfers

Best Banks for Expats Overviews

Bank of New Zealand (BNZ):

Account Options: Everyday banking accounts, international banking services, mortgages, and home loans.

Key Features: Personalized financial advice, mobile banking app with budgeting tools, and access to a wide network of ATMs.

Auckland Savings Bank (ASB):

Account Options: Transaction and savings accounts, foreign currency services, wealth management, and investments.

Key Features: Innovative online banking platform, 24/7 customer support, customizable savings goals, and tools.


Account Options: Personal and business banking, credit cards, loans, and KiwiSaver retirement savings scheme.

Key Features: Dedicated support for first-home buyers, ethical investment options, and an award-winning mobile banking app.

Westpac New Zealand:

Account Options: Transaction and savings accounts, home loans, mortgages, and business banking services.

Key Features: Comprehensive range of insurance products, online and mobile banking with budgeting tools and financial planning.


Account Options: International banking services, Premier and Advance banking, wealth management, and investments.

Key Features: Global network with cross-border support, foreign exchange services and solutions, and dedicated relationship managers.

Australia and New Zealand Banking Group (ANZ):

Account Options: Personal and business banking, credit cards, loans, insurance, and wealth management.

Key Features: Extensive branch and ATM network, accessible online and mobile banking, and international money transfers.

How to Open a Bank Account in New Zealand

Opening a bank account in New Zealand is a straightforward process. Here are the general steps to follow:

  1. Choose a Bank: Research and compare the services and features offered by different banks in New Zealand to find the one that best suits your needs.
  2. Gather Required Documentation: Prepare the necessary documents, which typically include your passport, proof of address (such as a utility bill or rental agreement), and proof of identification (such as a driver’s license or birth certificate). Some banks may also require additional documents, so it’s essential to check their specific requirements beforehand.
  3. Visit the Bank: Schedule an appointment or visit a branch of your chosen bank. Inform the staff that you are a non-resident or expat looking to open an account.
  4. Provide Documentation: Present the required documents to the bank representative. They will verify the information and ensure compliance with local regulations.
  5. Complete Application Forms: Fill out the necessary application forms provided by the bank. These forms may include personal information, contact details, and your intended account type.
  6. Initial Deposit: Some banks may require an initial deposit to open an account. Ensure you have the necessary funds available to meet their requirements.
  7. Account Setup: Once your application is processed and approved, the bank will provide you with the account details, including your account number and any additional information you may need for online or mobile banking access.
  8. Activate Your Account: Activate your account by depositing funds into it. This can usually be done through cash deposits, online transfers, or international wire transfers.
  9. Access Banking Services: You can now start accessing the banking services provided by your chosen bank, including online banking, ATM withdrawals, and various financial transactions.

Remember to review the terms and conditions of your chosen bank, understand any associated fees, and explore additional services they offer to optimize your banking experience in New Zealand.

Summing Up

Choosing the best bank in New Zealand for expats requires careful consideration of your specific banking needs. Each bank mentioned above offers a range of account options and key features designed to cater to different customer requirements. By referring to the comparison table and overviews provided, you can make an informed decision about which bank aligns best with your financial goals and preferences. Remember to assess factors such as account fees, customer support, online banking capabilities, and any specialized services that may be particularly relevant to your situation.