Updated March 2026 · Independent comparison

Best NZ bank accounts compared.

Everyday accounts, savings accounts, and online banks compared on fees, savings rates, and features — so you can find the right account for how you actually use it.

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ANZ
ANZ Go Account
ANZ · Everyday transaction account
No monthly feeEveryday banking
Monthly fee
$0
ATM fee (own)
Free
ATM fee (other)
$1–2
Savings rate
Low
App quality
Excellent
Contactless
Yes
Pros
No monthly fee
NZ’s largest ATM network
Excellent mobile app
Free ANZ-to-ANZ transfers
Cons
Low savings interest rate
Fees on non-ANZ ATMs
International transaction fees apply
“Solid everyday account from NZ’s biggest bank. No monthly fee and a great app make it a reliable default choice.”
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ASB
ASB Savings Account
ASB · Online savings account
Competitive savings rateOnline managed
Monthly fee
$0
Base savings rate
~2.5–3.5%
Bonus rate
Available
Min. balance
$1
Instant access
Yes
App quality
Excellent
Pros
No monthly fee
Competitive savings rate
Instant access to funds
Excellent ASB app integration
Cons
Rate lower than term deposits
Bonus rate conditions apply
Better for existing ASB customers
“Good savings account for ASB customers who want instant access. For maximum return consider a term deposit instead.”
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KB
Kiwibank Notice Saver
Kiwibank · High-interest savings
Higher savings rateNotice period requiredNZ-owned
Monthly fee
$0
Interest rate
~3.5–4.5%
Notice period
32 or 90 days
Min. balance
$2,000
NZ-owned
Yes
App quality
Good
Pros
Higher rate than standard savings accounts
No monthly fee
NZ government-owned bank
Good for money you don’t need immediately
Cons
32 or 90 day notice to access funds
$2,000 minimum balance
Not suitable as an emergency fund
“Best for money you’re saving but won’t need quickly. The notice period earns you a better rate — good middle ground between savings account and term deposit.”
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BNZ
BNZ Total Money
BNZ · Offset mortgage account
Offset mortgageReduces interest
Monthly fee
$0
Offset benefit
Reduces mortgage interest
Savings rate
Effective mortgage rate
Instant access
Yes
Requires mortgage
BNZ mortgage
App quality
Good
Pros
Savings offset against your mortgage balance
Effectively earn your mortgage rate on savings
Instant access to funds
No monthly fee
Cons
Only useful if you have a BNZ mortgage
Doesn’t work on fixed rate portions
Complex to set up
“Excellent for BNZ mortgage holders. Every dollar in your account reduces the interest on your mortgage — effectively earning 4–5%+ on your savings tax-free.”
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Wise
Wise Account
Wise · International money account
Best for overseas spendingMid-market FX rates
Monthly fee
$0
FX fee
~0.4–0.7%
ATM (free/month)
$350 NZD free
Currencies
40+ currencies
Interest
Limited
NZ bank account
Yes (NZD)
Pros
Mid-market exchange rates — saves vs banks
Hold 40+ currencies in one account
$350/month free ATM withdrawals overseas
Excellent app and instant notifications
NZD account number included
Cons
Not a full NZ bank — no mortgage, credit card
Limited savings interest
ATM fees after $350/month limit
“Essential for anyone who travels, shops online internationally, or sends money overseas. The FX savings vs a standard NZ bank are significant.”
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Not financial advice. Account features and rates change. Always verify current terms on each bank’s website before opening an account. Last updated March 2026.