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New Zealand has a decimal system of currency based on the dollar ($1), which equals 100 cents. There are six coins - five, ten, twenty, fifty cents, one and two dollars, and $5, $10, $20, $50, $100 notes.
Trading hours - All banks are open from 9.30 am to 4.30 pm from Monday to Friday. Most banks are closed on Saturday and Sunday.
If you wish to open a bank account you need to advise the homestay coordinator on your first day. We can help you with your account. Once an account has been opened at the bank, the account holder may then use the savings bank facilities at any other branch of that particular bank anywhere in New Zealand without making special arrangements. You may decide to open an electronic transaction account; the bank will send your Personal Identification Number (PIN) through the post. You then collect your ATM (Automatic Teller Machine) card from the bank. With a 'card account' you can use EFTPOS to pay at supermarkets and other shops. The money is taken directly from your account. You can also withdraw cash using EFTPOS.
The major Banks operating in New Zealand are the ASB Bank, Australia and New Zealand (ANZ), Bank of New Zealand (BNZ), National Bank and Westpac. There are three methods by which you may arrange for money to be sent from overseas; bankdrafts and mail transfers take about ten days (normal posting time) and telegraphic transfers reduce the delay to three or four days. You should contact the local bank to enquire about further details and procedures. |