Kiwi Working


Banks and Backpackers in New Zealand

As we’ve already explained in the blog how to open a bank account, one question remained unanswered: which bank is the best for backpackers and working holiday makers travelling in New Zealand?*

Because you will have to pay fees every time you use an ATM that isn’t your bank, the best choice is to focus on the top four biggest banks in New Zealand:

  • ANZ
  • ASB
  • BNZ
  • Westpac

But which one? Let’s have a look at what they have to offer.


  • GO Account: A simple, easy to use transaction account with no monthly account fee. Do all your banking electronically (e.g. Visa Debit, ATMs, ANZ goMoney or Internet Banking) and pay no transaction fees. A fee of $3 per transaction applies to manual transactions.


  • Streamline Account: A Streamline bank account could be great for you if you like to bank online or on your phone, because when you do, there are no transaction fees. You only pay a transaction fee if you ask branch staff or the contact centre to help you withdraw or deposit money. Monthly base fee: $3.50.


  • YourMoney Account: YouMoney has everything you need for an everyday account. Open, close, and create multiple accounts with personalised images and nicknames to stay on top of your finances and budget with ease. No monthly account fee.


  • Electronic Account: this account has no fee attached and is fully electronic. You will have to pay a $10 fee for the card.

So far, the banks’ offerings are quite similar. ANZ and BNZ have more ATMs than ASB and Westpac, which could be an advantage when it comes to your decision. When I arrived in New Zealand, I selected ANZ because I’d heard this bank was the easiest to get a card, asap. However, most of my friends told me this isn’t a big deal for any of the other three banks: they are used to dealing with working holiday makers and know that for pretty much everyone, you want to get your bank account and your card as soon as possible.

From your experience, which one would you suggest?

* DISCLAIMER: This blog is intended as a guide only and should not be relied upon as a recommendation of any bank in New Zealand.

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