Starting a new life in New Zealand as an international student is exciting but can be just as exhausting, especially with a lot of experiences you try to adjust to!

One of the first things you want to make sure is in order is your finances but there are too many details to go over or new processes to adapt to. In this post, we'll look into the top banks for international students in New Zealand, making it easy to find the perfect bank to manage your finances throughout your studies.

Best Banks For International Students in New Zealand

The major benefits of a student bank account over a regular one for international students include reduced or no monthly fees, free debit cards, and potentially even an interest-free overdraft to help manage your finances during your studies. Keeping all these in mind, we'll be taking a look at the best banks for international students in New Zealand:

Westpac Bank.

Westpac Bank offers various benefits to students but these are the ones specific to international students in New Zealand.

Pros for international students in New Zealand:

• Freebies: No monthly fees, Free Visa debit card, Mobile app and contactless payment support (Google Pay, Apple Pay, Fitbit Pay)
• Foreign Currency Perks (International Account only): Hold funds in multiple currencies and get discounted foreign exchange rates (though likely not the best option compared to money transfer services).
• International students can withdraw cash using their phones at select ATMs belonging to Westpac, St.George, Bank of Melbourne, or BankSA, eliminating the need for a physical card.
• The process of opening an account upon arrival in New Zealand is quick and simple, taking less than three minutes online.

If you want to open an account with Westpac Bank in New Zealand, start here.

Australia and New Zealand Banking Group Limited (ANZ).

ANZ's Jumpstart Account caters to students under 21.

Pros for international students in New Zealand:

• Free Stuff: No monthly account fees, potential for a free credit card in the first year (depending on the card chosen).
• Through the Progress Saver, international students can receive extra interest by depositing a minimum of $10 and refraining from withdrawing funds within a month.

If you want to open an account with ANZ in New Zealand, start here.

OhentPay is a mobile app that lets you send and receive money internationally swiftly and at the best rates.  With Ohentpay, you can send and receive money to over 190 countries, and exchange over 40 currencies. So you can send or receive support from loved ones back home without delay. 

ASB Bank.

ASB Bank offers a simple student-friendly option with their Streamline Account:

Pros for international students in New Zealand:

• Free Stuff: No monthly account fees, Free Visa debit card, Mobile app and contactless payment support (Google Pay, Apple Pay, Fitbit Pay).
• The bank also provides a currency exchange service to simplify money management.

If you want to open an account with ASB Bank, start here.

The Cooperative Bank.

The Cooperative Bank in New Zealand offers a basic student account with some pros.

Pros for international students in New Zealand:

• Freebies: No monthly account fees, Free Mastercard debit card, Mobile app.
• Competitive Rates: Credit unions often offer loans with lower interest rates compared to traditional banks.
• Investment Opportunities: They might also provide options for students to invest their money and potentially earn a return, rather than just keeping it in a savings account.

If you want to open an account with The Cooperative Bank, start here.

Wrapping Up

With these key factors in mind, choosing the perfect New Zealand bank as an international student becomes a manageable task. Don't hesitate to compare options and explore student accounts specifically designed for your needs.

If you’d like to send money anywhere in the world from Cyprus and you prefer fast transfers at great rates, we recommend the OhentPay money transfer service. Create an account to get started here.

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