New Zealand Banking & Finance

Banking & Finance

Banking is a regulated industry in New Zealand. A bank must be “registered” with New Zealand’s central bank, the Reserve Bank of New Zealand.

Banking regulations are strict by world standard; banks in New Zealand have not engaged in the irresponsible actions characterised by less regulated American, British and European banks; so, from a customer point of view, thanks to Government regulation, New Zealand Banks are relatively safe.

• There are 27 such banks on the Reserve Bank register.
• Most of those banks, although incorporated in New Zealand, are, in fact, owned overseas. Only 5 banks are locally owned.

Useful Information

Most banks in New Zealand offer full services that include bank accounts, credit cards, loans, term deposits and managed funds. Banks can usually open up an account for you to transfer money into before you arrive in New Zealand. Shop around for a bank that suits your requirements and talk to friends or colleagues about their recommendations. There are excellent online banking facilities and apps to reduce the need to ever visit an actual bank!

Currency Converter

Check out what your local currency is worth in New Zealand dollars.

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Caution

If you are carrying more than NZ$10,000 in cash when you arrive in New Zealand, this must be declared when you go through Customs.

Notes

We have $5, $10, $20, $50 and $100 notes.

Locally Owned Banks

• Heartland Bank Limited
• Kiwibank Limited
• Southland Building Society
• The Co-operative Bank Limited
• TSB Bank Limited
  

Foreign Owned, Locally Incorporated Banks

• ANZ Bank New Zealand Ltd
• ASB Bank Limited
• Bank of Baroda (New Zealand) Limited
• Bank of China (New Zealand) Limited
• Bank of India (New Zealand) Limited
• Bank of New Zealand
• China Construction Bank (New Zealand) Limited
• Industrial and Commercial Bank of China (New Zealand) Limited
• Rabobank New Zealand Limited
• Westpac New Zealand Limited
  

General Comments

The Governor of the Reserve Bank (the Central bank) is independent and is protected by legislation from political interference.

When you want help with immigration, don’t forget to come back to us!