Can you recommend a good bank in New Zealand?

Question

We're looking to buy a small retirement property in New Zealand and figure we'll be setting up a bank account there to handle some expenses. I have no idea which banks provide a good exchange rate, interest rate, etc., and would love some opinions.

Answer 1

Yes.  The only NZ owned banks are the Taranaki Savings Bank, Kiwibank, the Southland Building Society and the credit unions.  The only trouble with the TSB is you need to deposit a minimum $5000.  My accounts are with the Southland Credit Union and Kiwibank.  Both are good, especially the SCU.  My experience of dealing with the foreign-owned trading banks is that they're rude, arrogant and unhelpful to everybody on an ordinary income.   They make it clear that every customer who isn't rich is a nuisance.

Answer 2

I found it difficult to find a bank that would allow me to open up an account without having a working visa.

However, the Bank of NZ  let me open one. But that was a few years ago..sorry can't help ya with exchange rates ect

Answer 3

As others have said Kiwibank, TSB are both the only N.Z owned bank.  

Where are you and what is your current bank.  I know that Lloyds Bank of England has ties with ANZ/National Bank of New Zealand which may make things easier for you if you are English.

Answer 4

Kiwi bank is the best bank

Answer 5

these are the major banks in NZ although I am sure I may have missed a couple

http://www.anz.co.nz/

http://www.asb.co.nz/

http://www.nationalbank.co.nz/

http://www.bnz.co.nz/

http://www.kiwibank.co.nz/

http://www.westpac.co.nz/

http://www.psis.co.nz/

Ive also added a website for real estate you may find interesting

http://www.realestate.co.nz

good luck and happy retirement!

Answer 6

KiwiBank would be my first chioce, SBS(Southland Building Society) ,and TSB.

Answer 7

I don't like Kiwibank. I don't agree with the Government putting money into one bank and helping it.

I'm with Westpac. Just don't lose your eftpos card or they'll make you pay $15 for a new one!!