Expat Advice: Financial Issues in Wellington, New Zealand

What is the name of the city or town that you are reporting on?

Wellington

Which banks do you use? If you have a local account, which bank do you use? How do you like it? Do you also have an account in your home country? Which bank? Do they charge for ATM withdrawals? Do they charge a lot for international wire transfers? How has it been working with them from abroad? Do you use a special international wire transfer service? Do you use an online bank? If so, tell us about them.

No, it's a bank that any New Zealander would use.

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What advice would you offer others about banking as an expat in your country? What do you wish you had known about banking when you first arrived?

Go in to the branch and ask every single question you can think to ask. Make the assumption that everything will be different from what you know. Then if it's the same you'll be pleasantly surprised. (most things will be different) Also talk to the country's tax dept. or a tax agent. Find out the laws!

What sort of challenges or frustrations have you encountered as an investor living overseas? Please describe.

I'm from the US, so I was used to "check-cashing" locations everywhere. One is unable to cash a check here without having a bank account. Special note: checks can be made to Cash as the payee, and then you may cash it at the bank of the payer.

Do you do your own taxes, use a local firm, an expat-oriented firm or does your employer handle this for you (i.e. via an corporate tax firm)?

I do my own in New Zealand. I let a firm do mine in the United States.

What advice could you offer others about doing your taxes as an expat?

Find out the laws as soon as you arrive. Don't wait until it's too late. Each country has their own financial year.