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How to Set up a Bank account and IRD
You need to sign up for a bank account and an Inland Revenue Dept (IRD) number in order to be paid wages.
There are a number of banks in NZ which offer similar rates and features. In selecting a bank, we suggest you choose based on what’s available closest to your location and, if you’re coming into a job in NZ, potentially one which your employer uses. You can discuss this with your Employer who may also be able to assist with setting up.
If you come to work in NZ through FRENZ, we work with you through the process; otherwise, you can use the following general guide for the set up.
Importantly, for this process, you’ll need a NZ mobile and have it handy to receive text confirmations.
Sign Up for your IRD Account
- Go to https://www.ird.govt.nz/managing-my-tax/ird-numbers/ird-numbers-for-individuals/new-arrival-to-new-zealand—ird-number-application
- Click on ‘#3 “Apply Online”> “Apply for an IRD number”
For this, you’ll need to have handy your
- your NZ address. If you have tenancy through your work, you can use that per your Employment Agreement;
- Tax Identification Numbers (for any/all countries in which you paid tax on wages)
- Your Visa for your INZ application number (not client number)
- Passport
- Mobile number
- You will be asked to create a log in name and password.
Once the application is completed, you will get an email from IRD, which will link to set up your MyIR – this is your log in to their website. This number will be required for your bank account set up and may or may not be provided in time for your bank account.
Do initial Bank Set up Online to Save Time
Most banks allow you to do an initial bank account set which will save time and hassle. To do this:
- have your NZ mobile number handy and mobile active
- create the bank account
- respond to the text verification to complete the submission
Once this is done, and you’ve received your IRD number, you’ll have to activate the account in the bank using the account number you’ve been provided.
Note this is based on Kiwibank’s process which we’ve found easiest; other banks may differ
Activate Your Bank Account in a Branch
To activate your account, you’ll need to be identified and verified by the bank – in person.
- Most banks allow you to complete an online account application once you’re in the country and have the mobile number and IRD number. Though you can the end to end process at the branch, by first setting up your account online, the bank can use your account number and just finish the application which saves a lot of time in the branch.
- At the bank (as with IRD) you will need to provide a copy of your:
- Visa
- Original Passport
- Proof of NZ residence – Some banks allow hostel addresses to be used for this if you’re on a working holiday visa. Otherwise, migrant workers can use your Job Offer letter as long as it includes the resident location or use the tenancy agreement from within the Employment Agreement.
- Tax Identification Number (this is required for any and all countries in which you’ve previously had to pay taxes.
- Some banks, except for Kiwibank, ask for overseas Utility Bills for the proof of address on an Overseas residence.
When choosing the type of account/s, if you don’t have a credit card, and are on a work visa, we would suggest that you elect a savings and checking account, to which your wages will be paid and a banking card that also works as a credit card so that you can purchase groceries, etc online if you like.
