ICA

International Students

Changing Money in New Zealand

Managing your money safely and confidently is an important part of settling into life in New Zealand. The information below will help you understand how to exchange currency, access your funds, and avoid unnecessary costs when you arrive.

1. Bringing Money to New Zealand

Before you travel, make sure you have access to enough funds for your first few weeks. You may bring a combination of:

  • A small amount of New Zealand dollars in cash (for example, NZD $200–$300 for immediate needs such as transport or food).
  • A debit or credit card that works internationally.
  • Proof of funds as required for your student visa.

Important: For safety reasons, do not carry large amounts of cash. If you bring more than NZD $10,000 (or equivalent in foreign currency), you must declare it to New Zealand Customs on arrival.

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2. Changing Foreign Currency

Foreign currency can be exchanged easily in New Zealand through banks, currency exchange outlets, and some hotels or airport counters. Exchange rates and fees vary between providers, so it is a good idea to compare options before you change money.

  • Banks (for example, ANZ, ASB, BNZ, Westpac, Kiwibank)
  • Currency exchange outlets (for example, Travelex, Travel Money NZ)
  • Airport and some hotel exchange services

Auckland Airport and city exchange shops offer convenient services. Airport exchanges are convenient but may have higher fees, while city branches and money exchange stores often offer more competitive rates.

3. Opening a Bank Account in New Zealand

To keep your money safe, you are encouraged to open a New Zealand bank account soon after you arrive. Many banks allow you to start the application process online before you travel.

You will generally need:

  • Your passport
  • Proof of your New Zealand residential address
  • Your Offer of Place from ICA
  • Your IRD number (optional initially but required for tax matters)

Once your account is open, you can transfer money from overseas, use EFTPOS and debit cards, pay your fees, and manage your daily living costs securely through online and mobile banking.

4. Using ATMs and Cards

ATMs are widely available across New Zealand, especially in cities and shopping centres. New Zealanders commonly use EFTPOS and debit cards for everyday purchases.

  • Most shops, supermarkets, and transport services accept cards.
  • International cards such as Visa, Mastercard, and UnionPay are widely accepted but may attract extra fees.
  • Some small businesses may be cash-only or may charge a small surcharge for card payments.

Tip: Inform your home bank that you will be travelling to New Zealand so they do not block your card for suspected fraud.

5. International Money Transfers

To avoid carrying large amounts of cash, many students use electronic transfers to move money into New Zealand. Common options include:

  • Bank-to-bank international transfers
  • Money transfer services (such as Wise, Western Union, Remitly)
  • Online foreign exchange companies

Compare fees, exchange rates, and transfer times before choosing a provider. Your bank or financial adviser can help you select a safe and cost-effective option.

6. Safety Tips

Looking after your money is part of keeping yourself safe while you study.

  • Avoid carrying large amounts of cash whenever possible.
  • Use secure banking and online transfer methods.
  • Never share your PIN or online banking details with anyone.
  • Do not give your bank information to strangers or unverified websites.
  • If you are unsure about a financial transaction, ask your bank or ICA staff for advice.

If you ever feel unsafe or think you may have been a victim of financial fraud or a scam, seek help immediately from your bank, ICA staff, or New Zealand Police.