There are three fundamentally different reasons why a New Zealand Bank account could be advantageous.
Most New Zealand
banks offer the service to open a bank account before your arrival.
However there are some differences in services:
Some have a stricter time frame the account holder has to activate the
account at the bank in person. The National Bank of New Zealand set this
frame to three months while it is six months for ASB Bank or Westpac
Bank. After this time funds are returned to the bank of origin. In this
case gained interests with Westpac Bank for example remain within New
Zealand. Again others like Kiwi Bank allow even term deposits.
Zealand banks require often certified documents like passport and birth
certificate. BNZ, the Bank of New Zealand, allows submitting your
application online. The identification documents are presented once you
are in the country.
Most application forms ask to fill in your
IRD number. The benefit for your account is occurring tax on gained
interest is lower than without. In any case this number has to be
forwarded to future employer. Persons working self employed get their
payable tax from this department.
The Inland Revenue department
is the place to contact and file your application for. It is the New
Zealand tax department. Everyone planning to work for money or to open
an account and chooses to pay less tax has to apply for it.
it is worth wile to establish precisely your banking needs to open bank
account. Determine if you will use it for a set time like your work and
travel holiday or to build your future with intention of purchasing
property and more. How much money you intend to transfer, the number of
payments you plan to send, or simply the ease of use and application.
Compare their fees! These vary in the same manner as their service
IRD – Inland Revenue
Inland Revenue for non residents and visitors
New Zealand Banks
ASB from abroad......application form
Westpac Bank......open account
Open an account at Kiwibank from overseas
BNZ online application