Advice and Support for South Africans Immigrating to New Zealand

South Africans Going To New Zealand

Author Topic: Money/Banks  (Read 8944 times)

Offline Snoozy

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Re: Money/Banks
« Reply #60 on: December 08, 2008, 07:38:40 am »
You can definitely open the bank account without any documentation (we did), but when it comes to activating here, I am not sure, as we had a work permit at the time. Maybe just look at the website and drop them an email? Very helpful...

Offline zatexnz

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Re: Money/Banks
« Reply #61 on: December 08, 2008, 11:28:34 am »
Anton, Perasmus02 already answered this question:
Hi everyone,
I recently opened a National Bank account while I was in NZ last month and activated it.
The thing is the bank made a note that my visa is only valid for 3 months and If I do not show them my work permit before end of Feb they will contact me and close my account. I thought I could maybe save some money in the bank until I arrive again in NZ. Even though they will tax me 39% on interest earned on my account and when I give them my IRD number the interest will be 19%.
I do not care about the huge tax rate, just want to get some money out of SA.

So if you're coming on a LSS or LSD, I suggest as Jaffa has said numerous times (why does it seem nobody is listening to him?), that you can leave your money in SA, and just use your debit card to withdraw cash when you need it.  You can also use your credit card to buy larger items if you really need to, or pay for things at larger stores.  You usually cannot use credit cards at smaller stores, like green grocers, or at craft markets.
Once you have a WP, you can open a bank account and wire the rest of your money from SA into it. 
I'd say have about $100 in NZ cash when you land, just to get you through the airport and buy some food...
« Last Edit: December 08, 2008, 11:31:19 am by zatexnz »
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SA Going to NZ Advice Forum

Re: Money/Banks
« Reply #61 on: December 08, 2008, 11:28:34 am »

Offline mandyh

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Re: Money/Banks
« Reply #62 on: December 08, 2008, 08:08:41 pm »
We opened bank accounts at National before we left SA for our LSS without a problem.  Transferred money into the account while in SA. When we arrived here went to the nearest branch to activate the account and got cards and could access the account immediately.

Offline Saturn_Moon

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Re: Money/Banks
« Reply #63 on: December 08, 2008, 10:54:08 pm »
Just to let you guys know about our experience:

We opened an account with BNZ (Bank of New Zealand) - the account specifically for migrants. We transferred the money across by SWIFT round about July/August 2008.

When we arrived on our honeymoon/LSS in October 2008 we activated the account with no work permits/visas 2 days after arrival and got  our cards straight away.

The very helpful lady linked us onto internet banking and gave us a more affordable banking option where we earn more interest than what we are debited by bank charges on a monthly basis. So we actually make a little bit of a 'profit' because of the total amount we have in the account.

We let her know that we would only be back in January 2009 (3 months later) and it doesn't seem to be a problem at all. Nor were we told that we had to have a WP before our 3 month visitor's visa expired.

We can withdraw the money by an ATM, make EFT payments and probably do internet payments (haven't tried it yet but sure it will work). The only thing we obviously can't get is access to cheques and pretty sure we can't have a credit card account.

I hope this helps.




Offline Micayla

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Re: Money/Banks
« Reply #64 on: March 02, 2009, 08:30:58 am »
Hi there...we've just opened our National Bank account and just wanted to find out how do we make the deposit into it?
 Can my bank here in SA jsut do a transfer to them? Im with STD Bank



Offline Saturn_Moon

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Re: Money/Banks
« Reply #65 on: March 02, 2009, 09:49:39 am »
Hi Micayla

If I remember correctly my DH had to do a SWIFT transfer and there was a fee involved - depending on the amount will depend on the fee - just whatever you do don't mention immigration - say that it is for your holiday allowance (of which you can transfer up to R500,000 per adult per year).

I hope this helps.

P.S. My DH was banking with FNB but I'm sure you won't have a problem with Standard Bank.

 :gl:




Offline Micayla

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Re: Money/Banks
« Reply #66 on: March 02, 2009, 02:08:11 pm »
Thanks Saturn! O0



SA Going to NZ Advice Forum

Re: Money/Banks
« Reply #66 on: March 02, 2009, 02:08:11 pm »

Offline Durbschick1

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Re: Money/Banks
« Reply #67 on: March 02, 2009, 09:16:11 pm »
On this note, I was amazed at how easy it is to send money to SA, I needed to send some money to my mom, just phoned my bank (ANZ) spoke to the international banking department and transferred the fund in like 4 min. flat! 2 days later it was in my Mom's account.... When I did the same thing whilst still in SA, (FNB) I had to sacrifice 2.5 hours since not even the bank manager had a clue how to do it... messed up the paperwork... then it took 10 days for the money to get into our ANZ account.    :-\