Home » Blog » Business Strategy » How To Set Up An Australian Bank Account From New Zealand Without Visiting An Australian Branch

{ 15 comments… read them below or add one }

1 mike May 26, 2011 at 6:15 pm

Hi there. Once you have set up your oz account, have you tried doing an online payment to it from your NZ bank account using internet banking?

Reply

2 Sheldon Nesdale May 26, 2011 at 7:29 pm

Yes Mike, and it has been a disaster so far. The money hasn’t turned up and I can’t even find the withdrawal from my NZ account! Very strange. The bank is trying to figure out what happened.

Reply

3 Stephen June 6, 2011 at 2:08 pm

Just for reference, I tried this after moving to Australia (I still juggle money around) and it seemed to work fine. It took something like 2 – 4 days, but once it was transferred, it was all working fine. The Commeneanweath Bank website had specific details on how to get the transaction done (the international banking codes needed etc).
Could be just a one off with your problems, but good luck getting it sorted!

Reply

4 Sheldon Nesdale June 6, 2011 at 2:15 pm

Thanks Stephen

My first transfer did completely disappear without a trace, but I tried another one last week and it took just 4 days to get through to Australia.

Reply

5 Bob July 7, 2011 at 2:34 pm

Hi,

Have you set up as a ‘branch’ in Australia?

If so, what was the process there?

Thanks,

Bob.

Reply

6 Sheldon Nesdale July 7, 2011 at 2:39 pm

I don’t know.

7 Teresa Rogers April 11, 2012 at 11:54 am

My Great Grandson has a Commonwealth Bank Account in Brisbane… we have a ASBank in TeAwamutu,would like to make the occasional deposit when we visit T/A. We have the Account Number… can we make Deposits Please?
Thankyou
Teresa Rogers

Reply

8 Sheldon Nesdale April 11, 2012 at 12:04 pm

I don’t know. You’ll have to talk to ASB Te Awamutu.

Reply

9 Chelsea October 24, 2012 at 8:55 am

Did you find out about paying tax while earning Aus$, and what forms need to be filled in?

Reply

10 Sheldon Nesdale October 24, 2012 at 9:43 am

Hi Chelsea:

1) When you are earning $AU for business transactions you don’t need to pay tax to the AU govt (because of the free trade agreement)

2) When you withdraw those funds into an NZ bank account you don’t need to pay GST to the NZ govt because you weren’t able to add GST on to your AU invoices anyway

3) But once those funds are in your NZ bank account you will need to pay company tax or income tax

More info on the ird.govt.nz website.

Reply

11 Dan August 6, 2014 at 9:07 pm

Do you still have this account no problems? I wonder if they’ll start asking questions when you don’t arrive in AU when you said you would

Reply

12 Sheldon Nesdale August 7, 2014 at 10:36 am

I do. No problems. I said I’d pop in the next time I’m in Australia. I just haven’t been over yet 🙂

Reply

13 Dan August 7, 2014 at 11:00 am

When I tried it forced me to enter a date within 3 months, or email them.

It seems both ASB and ANZ in New Zealand can help with bank accounts without having to pretend you’re going to live in australia

Reply

14 Sheldon Nesdale August 7, 2014 at 3:32 pm

At the time, getting the account via ASB and ANZ was a huge, horrible drawn out process. Let me know how you go, I hope it’s improved 🙂

Reply

15 Yong January 6, 2016 at 2:38 pm

Hey Sheldon.

Just wondering how you dealt with the exchange rate and tax payments. If you get paid in AUD, what exchange rate do you use to calculate how much NZD you need to pay tax on? is it based on the rate at the time you get paid or is it based on the rate at the time you convert it back to AUD?

Cheers,
Yong

Reply

Leave a Comment

Previous post:

Next post: