Home Forums Money matters New Zealand Bank Accounts

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  • #977451
    Urchin
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    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?

    #1096921
    hopek
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    I’m not sure – but if you ever get it worked out please let me know! I’m going through the same thing!

    #1097009
    hopek
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    I’m not sure – but if you ever get it worked out please let me know! I’m going through the same thing!

    #1096923
    Calcul8or
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    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.

    Programmer. Analyst. Nerd. Calcul8ors.com.au Custom Software & Collaboration
    #1097010
    Calcul8or
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    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.

    Programmer. Analyst. Nerd. Calcul8ors.com.au Custom Software & Collaboration
    #1096924
    Urchin
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    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.

    #1097011
    Urchin
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    • Total posts: 51
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    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.

    #1096926
    Urchin
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    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.

    #1097012
    Urchin
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    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.

    #1096928
    Calcul8or
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    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.

    Programmer. Analyst. Nerd. Calcul8ors.com.au Custom Software & Collaboration
    #1097013
    Calcul8or
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    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.

    Programmer. Analyst. Nerd. Calcul8ors.com.au Custom Software & Collaboration
    #1096930
    Calcul8or
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    Western Union, perhaps?

    Programmer. Analyst. Nerd. Calcul8ors.com.au Custom Software & Collaboration
    #1097014
    Calcul8or
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    Western Union, perhaps?

    Programmer. Analyst. Nerd. Calcul8ors.com.au Custom Software & Collaboration
    #1096932
    Urchin
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    • Total posts: 51
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    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.

    #1097015
    Urchin
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    • Total posts: 51
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    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.

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