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ISSUE
Friday, October 2, 2026
Volume 17 . Issue 39
International students studying at New Zealand universities and polytechnics will have another banking option under Immigration New Zealand’s (INZ) Funds Transfer Scheme, with Bank of New Zealand (BNZ) joining the programme.
The FTS is designed to provide eligible international students with a secure way to transfer money to New Zealand and access funds while studying.
It is currently available to eligible students from China, India, Nepal, the Philippines, Sri Lanka and Vietnam.
The addition of BNZ means eligible students at universities and polytechnics can choose between BNZ and ANZ to transfer and hold funds for the duration of their studies in New Zealand.
BNZ’s participation is limited to students enrolled at universities and polytechnics. International students studying at Private Training Establishments can continue to use ANZ under the scheme.
INZ advises students to consider the options available and select a provider that suits their circumstances before starting the Funds Transfer Scheme application process.
Under the scheme, students who meet the requirements for a student visa may be told by INZ that they need to use the FTS after receiving an Approval in Principle letter.
Students required to use the scheme must transfer their study and living-cost funds into an FTS savings account in New Zealand. The funds, referred to as maintenance funds, are intended to support themselves while studying.
The scheme is operated by ANZ Bank New Zealand Limited and Bank of New Zealand Limited.
Students using the FTS must open both an FTS savings account and an everyday account.
Once funds have been transferred into the FTS savings account, a monthly automatic payment is arranged after the student arrives in New Zealand.
This transfers a set amount from the FTS savings account to the student's everyday account for use during their studies.
The arrangement also allows INZ to verify that students have genuine access to sufficient funds to support themselves while studying in New Zealand.
International students studying at New Zealand universities and polytechnics will have another banking option under Immigration New Zealand’s (INZ) Funds Transfer Scheme, with Bank of New Zealand (BNZ) joining the programme.
The FTS is designed to provide eligible international students with a...
International students studying at New Zealand universities and polytechnics will have another banking option under Immigration New Zealand’s (INZ) Funds Transfer Scheme, with Bank of New Zealand (BNZ) joining the programme.
The FTS is designed to provide eligible international students with a secure way to transfer money to New Zealand and access funds while studying.
It is currently available to eligible students from China, India, Nepal, the Philippines, Sri Lanka and Vietnam.
The addition of BNZ means eligible students at universities and polytechnics can choose between BNZ and ANZ to transfer and hold funds for the duration of their studies in New Zealand.
BNZ’s participation is limited to students enrolled at universities and polytechnics. International students studying at Private Training Establishments can continue to use ANZ under the scheme.
INZ advises students to consider the options available and select a provider that suits their circumstances before starting the Funds Transfer Scheme application process.
Under the scheme, students who meet the requirements for a student visa may be told by INZ that they need to use the FTS after receiving an Approval in Principle letter.
Students required to use the scheme must transfer their study and living-cost funds into an FTS savings account in New Zealand. The funds, referred to as maintenance funds, are intended to support themselves while studying.
The scheme is operated by ANZ Bank New Zealand Limited and Bank of New Zealand Limited.
Students using the FTS must open both an FTS savings account and an everyday account.
Once funds have been transferred into the FTS savings account, a monthly automatic payment is arranged after the student arrives in New Zealand.
This transfers a set amount from the FTS savings account to the student's everyday account for use during their studies.
The arrangement also allows INZ to verify that students have genuine access to sufficient funds to support themselves while studying in New Zealand.
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