Banking and moving money to New Zealand
Where to open an account, how to move money from Israel without it getting frozen, and what you need to report.
✓ Checked against the sources: October 2026⚠️ This isn't financial, tax or legal advice. Before moving large sums or investing, talk to a professional.
Opening an account
New Zealand's banking system is accessible, and you may be able to open an account before you move.
- Large banks: ANZ, ASB, BNZ, Westpac and Kiwibank.
- Every bank operating in New Zealand must be registered with the Reserve Bank, and you can check it in the register.
- Give your bank your IRD number. Without it, interest is taxed at the 45% non-declaration rate.
Source: Immigration NZ: Banking and taxes · Reserve Bank of New Zealand: registered banks · IRD: Resident withholding tax
Moving money from Israel without surprises
- Prepare proof of where the money comes from: a flat sale, savings, inheritance or salaries. Banks in both countries must check it.
- Use a bank or a licensed transfer service. In New Zealand, anyone providing financial services must be on the Financial Service Providers Register. In Israel: the Bank of Israel.
- For a large transfer, tell the receiving bank in advance and send the documents. That prevents a freeze during the check.
Source: Financial Service Providers Register · Reserve Bank of New Zealand: registered banks · Israel Money Laundering Prohibition Authority · Bank of Israel
🔒 3 more sections in this guide
- 💵 Cash
- 🚩 Scams
- 📈 An investment account with a foreign broker
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