New Zealand
Banking in New Zealand
New Zealand related forum posts
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Banking in New Zealand
Banking in New Zealand is straight forward. There are several major banks in New Zealand, and they are all stable; ANZ, BNZ, National Bank, WestpacTrust, ASB, Countrywide. Setting up a bank account in New Zealand is not difficult, but setting one up before you go could be a good idea. However, you should watch out for bank charges before you choose a bank or an account. New Zealand has been using debit cards for many years now, and in the last five years or so, the banks have started charging for debit card transactions. New Zealanders, having clicked onto this, have started using their credit cards more like debit cards for the little transactions; paying it off at the end of the month, as there is only an annual fee on credit cards.
Inflation was at 3.4% for the year to March 2008.
Base lending rates were 13.66% in May 2008.