Hey all! I just posted recently about the weather and I got some great answers--thanks so much! Now I have a new question. As I mentioned, my boyfriend and I are planning on being in NZ for the next 6 months to a year. Our bank here at home (Bank of America) suggested that we start bank accounts in NZ and just wire all of our money to there, since each time we use our Bank of America card we will be charged a 3% fee for an international transaction. So we have a few questions:

*Does anyone have any experience opening a bank acct in NZ (if you aren't from there)?
*The NZ book I have (Let's Go) said that one problem with wiring money would be that the bank in NZ would give a poor exchange rate. If so, is there a way to avoid this?
*We have working holiday visas and we're planning on working part of the time, do we have to have a bank account in order to do so?
*If we aren't going to have a permanent address, can we still get a debit card from the NZ bank?
*Is money wiring very expensive from USA to NZ (or just from country to country in general)?
*Does anyone have any other thoughts on what might be the cheapest and easiest option to have access to our money?
*Does anyone use traveler's checks?

We're going to the bank today to discuss this with them further, but I also wanted to get a little bit more input from you guys--you've been so helpful so far! Thanks again, as always.

If you're going to work in NZ, you're going to need a bank account there - pretty much every employer will just automatically deposit your pay into your bank account. Getting a check will be a pain in the behind, plus take several extra days.

A "permanent" NZ address shouldn't be an issue. I did my WHV through BUNAC, so I had a forwarding address and a letter establishing my credentials, but I know other people in the hostel who didn't have that and got their accounts just fine. There's a branch of ASB Bank in downtown Auckland that specializes in setting up accounts for foreign visitors, but you should be fine with whichever bank you prefer. You can just sign up for online banking to get your statements and check your balance.

Somebody in New Zealand is affiliated with BofA - I think maybe it's Westpack, but I won't swear to it. You may want to check to see who it is for certain, since you may be able to make withdrawals without paying the fee from their machines. You may need to check with the NZ banks rather than with BofA, though; don't know if your average local bank rep will know who they have an affiliation with in NZ or not.

The fee at ASB to wire money into or out of a checking account was $25NZD per transaction. You'll have to check with your bank to see what they charge on their end. Honestly, I just used my stateside ATM card, then put the cash into my Kiwi bank account. But I only did that once, when I opened the account. I don't think my bank (Compass, if anyone wants to know) ever charged me a fee to withdraw money in New Zealand, so I didn't worry about it much.

Honestly, with as many people who come through Auckland getting ready to work, there are plenty of resources to get your banking needs taken care of. If you're worried about doing it yourself, there's an office at the Base Backpackers on Queen St. that can help you get sorted and even help you find work. I only went to them for my WWoOF membership, but they were quite friendly.

Hope that helps a bit, and good luck! New Zealand is amazing; I wish I was still there!

It is my recollection that Westpac is associated with BofA and you will not be charged ATM fees when using them.

two things...keep your BoA (even though I hate them) and open up a charles schwab investor checking account. It is online account but they have FREE world wide atms...if the atm you withdraw from charges you money, no worries charles schwab rebates you at the end of the month!

then you can link your BoA to the schwab account and electronically transfer money between the 2 for free! (it does take a few days)...

then when you get to NZ you can open up an account and withdraw the money you need without having to wire (which takes a while by the way) to a NZ bank (I wired money in australia and it did not happen overnight).

Hi Amy, you may find How to open a bank account in NZ helpful. You can either open one from outside the country or after you arrive, but it's better to open it before you set foot in NZ.

You will find that using another bank's ATM attracts a fee, anything up to $1.50 or $2.00. In other words, if your account (in NZ) is with WESTPAC and you use an ANZ ATM. I'd suggest WESTPAC, ANZ or the Commonwealth bank.

Kia Ora.

Hi -

When I was working and traveling in NZ and Australia, I also found my B of A fees very tedious. I ended up opening up an account with ANZ, and they suggested I get an ANZ Travel Card. This is basically like a debit card that can be used all over the world, with no fees at ANZ atms, $2 fees to withdraw at other ATMs, but you can make purchases, including online, with no fees at all. You can transfer money into it from any bank account, multiple times if necessary, and then it's good to go. I opened mine in Australia, it took about 2 weeks for them to mail it to me, and they send you a spare with a separate number in case yours gets lost or stolen (which one of mine did, I was very grateful that my boyfriend had my spare card in his wallet!). Just a suggestion, you can find out more at ANZ's website.

Good luck!

If you have BofA, you're set. I spent nine months in NZ. Just use Westpac ATMs. No fees at all. Westpac has a branch in even the smallest towns throughout the country.