The Best Bank in NZ For Expats

TSB is the best bank in NZ for expats. The bank offers multi-currency accounts and ATM fees are very low. It also has branch and call centre services. The bank is also a co-operative, so a portion of profits are returned to customers.

In the latest banking customer satisfaction survey, New Zealand-owned banks trounced bigger Australian-owned rivals. The Co-operative Bank and TSB were top performers, while Westpac ranked last.

BNZ

BNZ offers a range of services for expats, including banking, investment, and credit cards. You can also use its online platform to manage your money. However, it’s important to check the terms and conditions of each service before making a purchase. If you’re going to transfer money from the UK to NZ, for example, make sure that you provide your full name and address. Otherwise, the transaction may be delayed or rejected by BNZ.

The BNZ group of companies takes privacy seriously and only uses personal information that it has collected lawfully, including for the purposes identified by you. It will not disclose that information to any other person unless required or authorised by law. In addition, BNZ complies with the obligations of the Consular Protection Directive and the Privacy Act 1993.

New Zealand’s banking minnows have trounced Australian-owned giants in the latest customer satisfaction survey conducted by Consumer NZ. The Co-operative Bank and TSB were the top two banks, with TSB earning the People’s Choice award. The biggest banks, ANZ and Westpac, came in near the bottom. The survey also asked New Zealanders about their KiwiSaver providers. Simplicity, Milford Funds and Generate Investment Management were rated the best, while ANZ and Westpac placed poorly.

In addition to a variety of services for foreigners, BNZ is one of the most environmentally friendly and socially responsible banks in the world. The company has made a number of commitments in these areas, including reducing its operational emissions by 60% by 2025 and supporting social inclusion and financial wellbeing.

HSBC

The HSBC New Zealand branch provides a broad array of products and services, including transaction and savings accounts, mortgages, agribusiness lending, credit cards, investment banking, international banking and cash management. It also offers online banking, mobile apps, and foreign exchange services. The bank serves clients around the world, and focuses on high net worth individuals and multinational corporations.

It is possible to open a bank account in New Zealand from overseas, though it depends on the type of banking package you choose. Some banks, such as Auckland Savings Bank, offer specific packages for children, students, graduates, apprentices and working holidaymakers that include no base fees or transactions. These packages also come with a free Visa debit card. The HSBC New Zealand Premier service is particularly suited to expats, as it offers competitive rates and excellent assistance for people buying property and investing in the future.

Canstar’s latest banking satisfaction ratings show that smaller New Zealand-owned banks are performing better than their bigger Australian-owned rivals. The Co-operative Bank and TSB, for example, scored higher than both ASB and Westpac in overall satisfaction. ANZ and Kiwibank were not far behind. The results of Consumer NZ’s latest KiwiSaver survey also show that the big banks are not keeping their customers happy. Simplicity, Milford Funds and Generate Investment Management are the top KiwiSaver providers.

Kiwibank

The bank offers a wide variety of products and services. Kiwibank provides home loans, credit cards, savings accounts, and investment accounts. Customers can also apply for a mobile app to access their account on the go. The company’s website is also very user-friendly. The customer service department is available around the clock.

The company’s online banking system is easy to use and allows you to set up multiple accounts and manage them all in one place. Its mobile apps allow you to check your balance, transfer money, and make payments. In addition, the company has a number of rewards programs that you can join to earn bonus points.

Compared to other banks, Kiwibank offers competitive rates on its mortgages. Its cheapest home loan, the Feature Mortgage, is for a 10-year term and comes with a free redraw option. Its fixed rates are also very affordable. However, the company does not offer any interest-only home loans.

The company’s employees are generally happy with their working conditions. Comparably users rate the company’s culture in the Top 35% of similar sized companies. Employees are most satisfied with their managers and leadership. In addition, the company has a strong focus on innovation. However, the company needs to improve its work/life balance and culture.

Auckland Savings Bank

The Auckland Savings Bank was New Zealand’s first savings bank, founded at a meeting of prominent ‘gentlemen’ in Auckland on 19 September 1862. It was designed to attract business from working men of both races and allow them to become ‘an immediate and active agent in civilization’.

In the 1980s the association of local savings banks amalgamated into ASB Trust Bank, which became ASB Bank in 1987. In 1994, ASB purchased and amalgamated the Westland Bank, another former savings bank located on the West Coast of the South Island, to form a fully national banking institution.

The Reserve Bank of New Zealand ("Reserve Bank") regulates and supervises registered banks. The Reserve Bank aims to promote the maintenance of a sound and efficient financial system, and to avoid significant damage to the financial system that could result from the failure of a registered Newzealandbanks bank. The Reserve Bank regulates banks in accordance with the Banking Act 1989. A registered bank is required to maintain a capital adequacy ratio of at least 20%. It is also required to ensure that it has adequate funds to meet its liabilities and to ensure that it complies with its banking supervision policies.