New Zealand Bank Accounts

[Urchin]

I have an internet based business selling in Australia and New Zealand.
Sometimes my New Zealand customers would like to make payment by bank transfer. Would anyone know if it is possible for me to create a New Zealand business bank account and how I would go about this?

I have contacted ASB bank and they have told me that I can create an account by visiting in person with a certificate of incorporation and business IRD number.
I can visit New Zealand but I don’t have a business IRD number and I’m not incorporated in NZ.
Can I get a business IRD number and register then register the bank account?

I have checked on the NZ inland revenue website and according to their checklist I believe I’m not a NZ tax resident and I’m not required to pay NZ tax or get an IRD number.

Would anyone have a solution to this problem of accepting NZ bank transfers?

[hopek]

I’m not sure – but if you ever get it worked out please let me know! I’m going through the same thing!

[hopek]

I’m not sure – but if you ever get it worked out please let me know! I’m going through the same thing!

[Calcul8or]

Paypal?….or similar?

Actually….it is also possible to accept direct deposits from overseas via transfers. Have you spoken to your bank yet? They might be able to help you.

[Calcul8or]

Paypal?….or similar?

Actually….it is also possible to accept direct deposits from overseas via transfers. Have you spoken to your bank yet? They might be able to help you.

[Urchin]

PayPal is great but around 10% want to pay by bank transfer. I usually lose their orders because I don’t have a NZ bank account.

[Urchin]

PayPal is great but around 10% want to pay by bank transfer. I usually lose their orders because I don’t have a NZ bank account.

[Urchin]

I believe payments into an Australian account will be a foreign transaction and involve a currency transfer. Fees for international bank transfers are normally $30+. My customers wouldn’t want to do this.

[Urchin]

I believe payments into an Australian account will be a foreign transaction and involve a currency transfer. Fees for international bank transfers are normally $30+. My customers wouldn’t want to do this.

[Calcul8or]

I just remembered what I used many moons ago in another business incarnation.

SWIFT Inter-Bank Transfers are now a common method of payment between international buyers & sellers.

Your customers in NZ can pay directly into your account if you give them your branch, BSB & ACCT details from their bank.

[Calcul8or]

I just remembered what I used many moons ago in another business incarnation.

SWIFT Inter-Bank Transfers are now a common method of payment between international buyers & sellers.

Your customers in NZ can pay directly into your account if you give them your branch, BSB & ACCT details from their bank.

[Calcul8or]

Western Union, perhaps?

[Calcul8or]

Western Union, perhaps?

[Urchin]

Calcul8or,

Thank you for your suggestions. Both international bank transfers and Western union are options but I think both of them will have fees of around $30 per transaction and scare customers away.

I’m considering the idea of incorporating a New Zealand company but I imagine taking care of taxation issues quite complex. If anyone knows about incorporating a NZ company any comments you may have on the process would be appreciated.

[Urchin]

Calcul8or,

Thank you for your suggestions. Both international bank transfers and Western union are options but I think both of them will have fees of around $30 per transaction and scare customers away.

I’m considering the idea of incorporating a New Zealand company but I imagine taking care of taxation issues quite complex. If anyone knows about incorporating a NZ company any comments you may have on the process would be appreciated.

[Author]

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