Managing your money in New Zealand
The currency accepted in New Zealand is New Zealand Dollars (NZD).
1 Australian dollar usually equates to around $1.20 in New Zealand Dollars. This rises and falls quite frequently so visit our Currency Converter to find out the current rate.
In New Zealand EFTPOS cards are used frequently and are accepted almost everywhere. Credit cards are also common although you may find that these are not accepted by small businesses or food outlets.
Moving your money: Buying New Zealand Dollars (NZD)
There are a lot of options when it comes to currency transfer. We recommend you shop around - while your bank will almost certainly provide this service, they may charge you high fees. It's also wise to start watching the exchange rates a few months in advance. Some tips:
- Don't take large sums of cash overseas with you. There are restrictions on how much you can take but more importantly you run the risk of it being lost or stolen.
- Avoid travelers cheques. These are aimed at people taking smaller amounts of money for their holiday - not for people moving permanently. Travelers cheques are often exchanged at poor rates and additional fees.
- Do your research and plan in advance! Simply by shopping around, you can save money on fees and ensure that you get a great rate which means more New Zealand dollars in your pocket.
The best way to maximise the number of NZ dollars is to do a direct transfer into an NZ bank account. This can be done with either your bank or a currency transfer company.
We recommend Currency Online as they allow you to do everything online (through their website and internet banking). You can watch the NZD/AUD exchange rate in advance, transfer money into your Currency Online account and leave it there until your Kiwi bank account is open.
Banking
It's a good idea to open a bank account before you leave so that you'll have money ready when you arrive in New Zealand. The following major banks all provide information for people looking to move to New Zealand: