Banking your money
Banks in Dunedin offer a wide variety of services, from internet and telephone banking, to automatic payments, direct debits and credit cards. Banks also charge fees of varying amounts depending on the types of banking accounts you may open with them. You should do some research to find out which bank best suits your needs
Opening a bank account
You can choose which bank to join. Information about banks’ ownership and their policies are available at physical branches of the banks and on their websites, linked below.
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Banks in Dunedin include:
- ASB (Link to external website | New window)
- ANZ (Link to external website | New window)
- BNZ (Link to external website | New window)
- The Co-operative Bank (Link to external website | New window)
- Kiwibank (Link to external website | New window)
- Rabobank (Link to external website | New window)
- SBS Bank (Link to external website | New window)
- Westpac (Link to external website | New window)
What you need to have before you open a bank account
When you first open an account with a bank, it will usually ask you for three forms of identification that prove you are who you say you are.
- One form of identification should have a photo on it, such as a passport or overseas driver's licence.
- You will be asked for your personal Inland Revenue Department (IRD) number, which will ensure you are charged the right amount of tax on any interest from your savings. You will have to apply for an IRD number (link to external website | new window) if you don’t already have one.
- You will need proof of your address, such as a printed bank statement from another bank, a letter from a government agency, or a letter from the IRD.
Bank cards
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Eftpos cards
Your bank can provide you with an eftpos card for electronic banking. In New Zealand eftpos card use is common when purchasing goods and services, and when withdrawing cash from automatic teller machines. Eftpos cards can also be referred to as debit cards. These cards work by electronically drawing your money out of your bank account.
Your bank will ask you to choose a PIN (personal identification number) for electronic banking (deposits and withdrawals). Do not show your PIN to anyone. If you lose your bankcard or think someone else knows your PIN, contact your bank straight away on its freephone 0800 number.
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Credit cards
Credit cards look a bit like eftpos cards, but instead of using your own money from your bank account to buy goods and services, a credit card gives the cardholder access to borrowed money (credit) from the bank or a credit company. If the credit is not repaid by the agreed due date, or only repaid in part, interest will be charged until the full amount is repaid.
You can apply for a credit card from your bank or other companies that provide this service. Canstar website (link to external website | new window) provides independent useful information about credit cards and compares providers of these services.
If you are unhappy with your bank’s services
If you have a problem with your bank, you should first try to solve it by talking or writing to it directly. If the problem is not solved this way, then you can contact the Office of the Banking Ombudsman (link to external website | new window).