Opening a Westpac Bank Account in New Zealand: Application Requirements, and Steps

If you’ve just moved to New Zealand or are preparing to relocate, getting a local bank account sorted is usually one of the first things on the to do list. Westpac is one of the country’s major banks, offering a range of everyday and specialist accounts that are suitable for new arrivals, returning Kiwis, and long term residents.

The process of opening an account with Westpac can vary slightly depending on where in the world you currently are, and what documents you have. To help make it clearer, we’re going to walk you through what there is to know about the eligibility criteria, documents and steps to take to open a Westpac bank account, so you know exactly what to expect before starting your application.

Westpac account options

Westpac NZ offers a range of different account options including everyday transaction accounts, saving accounts, foreign currency accounts and home loan accounts. Of those, there are four that may be of greater interest to people relocating to New Zealand.

• Everyday Account
• Simple Saver Account
• Foreign Currency Account
• International Student Account

Let’s delve into the features and fees of each.

Everyday Account

For daily spending and transactions, Westpac offers the Everyday Account.¹

• Bank online using Westpac One
• Choose between an EFTPOS or Debit Mastercard
• Earn Airpoints Dollars by spending with the Airpoints Debit card
• Access to budgeting, saving and spending management tools

The account has no monthly or electronic transaction fees, but there are some others to be aware of.²

Simple Saver

Alongside a transaction account, many people also have a savings account to store funds and earn interest on their money. Westpac has a few different savings accounts, with the Simple Saver being one.³

• Earn 0.05% interest per annum
• No minimum balance
• Access to budgeting, saving and spending management tools
• Bank online using Westpac One

The account has minimal fees, in part because it does not support card access.

Foreign Currency Account

Westpac has specialised foreign currency accounts for nine supported currencies that allow you to send, receive and hold that foreign currency.⁴

• Open an account in USD, AUD, GBP, EUR, CAD, CHF, HKD, JPY or SGD
• Some currencies earn interest per annum at a rate that varies by currency
• Track and manage the account using your digital banking
• Able to deposit foreign cash straight into the account

These are some of the key fees that apply to the account.

International Student Account

If you’re moving to New Zealand to study there’s a specific account available to international students.⁵ It includes a transaction account, with an optional foreign currency account.

• Access to a transaction account with a card for easily daily spending
• Get discounted foreign exchange rates
• Bank online using Westpac One
• Access to budgeting, saving and spending management tools

Here are some of the fees to be aware of for the Westpac international student account.

This account does come with additional eligibility criteria, including having a valid student visa, attending a Westpac approved education institution, studying full-time for at least six months and having some regular income.

How to open a Westpac Account

To open a Westpac account in New Zealand you need to be able to meet the eligibility criteria, then complete the application process. Depending on your circumstances you may be able to do the whole process online, but for new arrivals it’s more likely you’ll need to visit a branch.

Westpac account opening requirements

Each Westpac account has specific requirements, but in general you need to be:⁶

• 18 or older
• New Zealand citizen or resident
• Live in New Zealand

You also need to be able to provide these documents on request:

• Valid ID, such as a passport or NZ drivers license
• Proof of address, such as a utilities bill or rental agreement
• Foreign tax number if you also pay tax abroad

If you’re in the process of moving to New Zealand it’s possible to start opening a Westpac NZ account from overseas, but more on that in a minute.

Opening your Westpac bank account online

To open a Westpac account online you need to have these things on hand:⁷

• NZ passport or NZ drivers license
• A utility bill or bank statement for proof of address
• Mobile phone
• Foreign tax number (if you have one)

This may be possible if you’re a New Zealand expat returning home, but more difficult if you’re a new migrant. If you have a different document for your ID or proof of address you’ll have to complete the application process at a branch.

Opening your Westpac bank account from overseas

Westpac allows customers to open a New Zealand bank account from overseas, in some cases up to 180 days before migrating.⁸ The account can’t be fully activated until you arrive, but it means that there’s money already waiting in a New Zealand bank account when you do.

The steps to set up a Westpac NZ account before arriving are fairly simple.

1. Complete the application form

Complete the Expatriate/Migrant Bank account application form, providing all relevant applicant, foreign tax, and financial details. Once it’s finished, save the form as a PDF.

2. Send the form to Westpac

Email the completed form, certified passport, certified visa, and certified proof of address to Westpac’s migrant banking department. Keep in mind there are guidelines for the certified documents, so it’s best to check them to ensure Westpac will accept your documents.

3. Visit a branch

On arrival to New Zealand visit a Westpac branch with your original passport and visa to activate the account. Westpac advises that you contact the Migrant Banking department in advance to make an appointment, so you can avoid waiting.

Opening a Westpac bank account

Westpac offers a good selection of accounts for everyday banking, saving, and managing multiple currencies, which can be useful for newcomers settling into life in New Zealand. The minimal fees on some accounts and the ability to begin the application process from overseas are definite positives. But, opening an account remotely still requires in-branch verification once you arrive.

If you want an option with the ability to fully open an account before setting foot in New Zealand, you can also consider the Wise account. With a Wise account, you can receive, hold and spend in 40+ currencies, including NZD, and gain access to New Zealand account details that allow you to receive money like a local. This, along with the Wise debit card, gives you more flexibility from day one.

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Please see Terms of Use and product availability for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.