How convenient is banking in New Zealand? What is the prevalence of mobile payments and credit cards?

New Zealand ImmigrationbankingMobile PaymentsCredit CardNew ZealandFinancial Services
Created At: 8/22/2025Updated At: 8/26/2025
David Guillaume-Salmon
David Guillaume-Salmon
Former professional chef, now a New Zealand resident. | 前职业厨师，现新西兰居民。

Hello! You're asking about banking and payments in New Zealand, which is a big part of daily life. Let me share my experiences and insights with you, hoping they'll be helpful.

In short, to sum it up in one sentence: Banking in New Zealand is extremely convenient, but payment habits might be different from what you expect. This is a "card-centric" society, not a "QR code-scanning" one.

Below, I'll elaborate on this point by point:

Banking Services and Bank Accounts

Banking services in New Zealand, especially everyday personal banking, are highly automated and digitized.

  • Opening an Account: As long as you have a valid visa (e.g., student visa, work visa, PR), opening an account is straightforward. The main banks are ANZ, ASB, BNZ, Westpac, and Kiwibank; their services are largely similar. You just need to bring your passport, visa proof, and proof of address (e.g., rental agreement, utility bill) to the bank to schedule an appointment.
  • Online Banking and Apps: The banking apps and online banking here are very powerful. Transfers, bill payments (utilities, phone, credit card), checking balances, managing investments – everything can be done on your mobile app or computer. Essentially, unless you're depositing or withdrawing large amounts of cash, you rarely need to visit a physical bank branch.
  • Physical Branches: Physical bank branches are gradually decreasing as people increasingly opt for online services. However, you can still find them in major town centers, which are convenient for complex transactions or when you need in-person assistance.

Credit Card Popularity: ★★★★★ (Very Popular)

Credit cards are absolutely the main payment method in New Zealand and are extremely popular.

  • Almost Everywhere: From large supermarkets and department stores to small cafes, restaurants, online shopping, and government fees (like road tax, fines), almost everywhere accepts credit card payments. Visa and Mastercard are the most common; American Express (Amex) might not be accepted in some smaller shops.
  • Essential for Life: In many situations, a credit card is a necessity. For example:
    • Car Rentals: Car rental companies will always require a credit card as a security deposit.
    • Booking Hotels/Flights: Online bookings generally require a credit card.
    • Setting up Automatic Payments: For subscriptions like Netflix, Spotify, or gym memberships, you usually need to link a credit card.
  • Credit History: For new immigrants, responsible credit card use and timely repayments are the beginning of building a good local credit history, which is crucial for future loan applications (e.g., home loans).

Mobile Payment Popularity: ★★★★☆ (Popular, but Different Method)

Mobile payments are also very popular here, but here's the key: this "mobile payment" is not the same as you might think.

  • Main Method: Apple Pay / Google Pay Mobile payments in New Zealand primarily refer to Apple Pay and Google Pay. The principle is simple: you add your bank-issued credit card or debit card to your phone's "wallet" app. When paying, you don't need to take out your physical card; just "tap" your phone or smartwatch near the card reader, which is very convenient and fast. This payment method is also known as "PayWave" or "Contactless" payment.

  • Huge Difference from Chinese QR Code Payments Key point: New Zealand hardly has the habit of using WeChat Pay or Alipay to "scan a QR code" for payment like in China! You won't see QR codes for scanning at supermarket or cafe checkouts. Cashiers will ask you to "Tap your card or phone here."

Only in some Chinese-owned supermarkets, restaurants, or specific tourist souvenir shops, to convenience Chinese tourists or students, might WeChat Pay or Alipay be supported, but this is definitely not the mainstream.

The Status of EFTPOS (Debit Card)

Besides credit cards, you'll also hear a term called EFTPOS (pronounced like "eft-poss"). This is essentially the common name New Zealanders use for Debit Cards.

  • Everyone Has One: Every person with a bank account in New Zealand will have an EFTPOS card.
  • How to Use: When paying, you can choose "CHQ" (cheque account) or "SAV" (savings account), enter your PIN, and the money is directly deducted from your bank account. Most EFTPOS cards now also support PayWave, allowing you to simply "tap" for small payments (usually under NZ$200) without entering a PIN.
  • King of Daily Life: For many locals, for small daily expenses like groceries or coffee, using an EFTPOS card is even more common than using a credit card.

To Summarize: Advice for New Arrivals

  1. Open an Account Upon Arrival: Get a bank account as soon as possible. You'll receive an EFTPOS (debit) card with PayWave functionality.
  2. Link to Your Phone: Add this card to your phone's Apple Pay or Google Pay, so you can immediately experience New Zealand-style "mobile payment."
  3. Apply for a Credit Card: Apply for a local credit card as soon as possible for larger purchases, online shopping, and building credit history. For new immigrants, a lower credit limit is usually given initially, which you can gradually build up.
  4. Forget QR Codes: Mentally prepare to switch your payment habit from "pulling out your phone to scan" to "pulling out your card/phone to tap."
  5. Cash?: Carry only a small amount of cash for backup, for instance, for weekend farmers' markets or some small stalls that only accept cash. You won't need cash for 98% of daily situations.

I hope this information is useful to you! Overall, once you adapt, you'll find it very smooth and convenient.

Created At: 08-22 14:53:28Updated At: 08-24 15:28:58