Best NZD Accounts in the US

There are a few different options for a NZD account in the US, from savings products from banks like East West, to NZD options for high earners from HSBC.

If you want the flexibility to hold, send, spend and receive NZD alongside other currencies with low costs, you might want to look at specialist providers like Wise or Revolut instead. This guide walks you through your core options.

What is a NZD currency account?

A NZD currency account allows you to hold and manage a balance in New Zealand dollars.

US citizens heading off to New Zealand for business or leisure, and New Zealanders in the US for work, travel or study, could benefit from having a US based NZD account. Your NZD account will let you hold a balance in New Zealand dollars, send payments internationally, and in some cases offer low cost ways to receive and spend with a linked debit card.

Different accounts have their own target customers, and can come with quite different features. Some are for individuals who want to save or send payments, some are great for day to day spending and currency management, and some are intended for business customers.

What can you do with a NZD account in the US?

So – why might you want an account to hold New Zealand dollars in the US? Here are a few common uses for NZD accounts which may interest you.

• Add money in USD and convert to NZD: If you’re planning a trip to New Zealand, or if you need to make personal or business payments in NZD, you can add money to your account in USD and convert to NZD for later use.
• Send payments to New Zealand in NZD: Use your account to send payments to NZD, for travel, study, a mortgage or to pay suppliers for example – transfers may be cheaper than a standard wire as no currency conversion is needed.
• Receive NZD payments from others: Some accounts offer NZD account information, or SWIFT details, to receive payments from others – options like Wise have local NZD account details to receive low cost payments easily.
• Get a debit card for spending and withdrawals: Travelers for business or leisure might benefit from a NZD account which has a linked international debit card to spend and withdraw when you’re away.
• Hold your NZD balance for later use: Build up a balance in NZD to convert later, to send a payment, or to hold out for a better exchange rate – there’s no need to convert back to USD if you don’t want to.

Types of NZD accounts

The types of New Zealand dollar accounts you can find in the US tend to fall into two major categories – multi-currency accounts, and foreign currency accounts. Both have their pros and cons, so selecting the right one for you will require a little thought.

Here’s an introduction to each type, as well as the accounts we’ve featured in this guide.

Multi currency accounts: A multi-currency account allows you to hold NZD as well as other currencies, all in one place. This can be very flexible if you need to manage many different currency transactions for travel or business.

• Wise Account: Hold 40+ currencies, and get local account details for receiving 8+ currencies including NZD, and SWIFT details for receiving 20+ currencies easily.
• Revolut Account: Hold 25+ currencies with a linked debit card to spend and withdraw, and get SWIFT account details to receive New Zealand dollars to your account.
• Airwallex Account: Business account supporting 20+ currencies including NZD and USD, with ways to receive customer bank and card payments online.
• HSBC Global Money Account: Premium account supporting 8 currencies to send payments, including NZD and USD, with no HSBC transfer fees.

Foreign currency accounts: The other common option is a foreign currency account which is dedicated to NZD only. These may be targeted at people looking to save and invest in foreign currencies more than travelers.

• East West Bank Foreign Currency Account: Open Foreign Currency Demand Account and Foreign Currency Certificates of Deposit in NZD to diversify your savings.

Best NZD currency accounts in the US

You can choose a NZD account in the US from either a bank or a specialist provider. Bank foreign and multi-currency accounts may be targeted at niche groups – for example, people who want to save and invest, including high net worth individuals.

Specialist accounts are often from providers which are experts at currency management, like Wise and Revolut, and can come with a very flexible range of currencies and services designed for day to day use.

Here we’ve selected some different providers and banks offering NZD accounts in the US for personal and business use, looking at convenience, cost and customer intention. Here’s a roundup:

	💡 At a glance
Wise Account	Hold and exchange NZD and 40+ other currencies, spend with a Wise Multi-Currency Card in 150+ countries, send and receive payments from abroad in USD, NZD and more.
Revolut Account	Choose from 3 different account plans which all offer a debit card, and support 25+ currencies for holding and withdrawal. Travel perks available on some account tiers.
HSBC Global Money Account	Hold and send payments in 8 currencies including NZD, for HSBC customers with Premier status which requires a minimum deposit of 100,000 USD or more.
East West Bank Foreign Currency Account	Foreign Currency Demand Account and Foreign Currency Certificates of Deposit in NZD alongside other global currencies, for customers who want to save or invest in NZD.
Airwallex Account	Business account supporting NZD, USD and 20+ other currencies for holding and exchange, with low conversion costs and great exchange rates.

Wise Account

Open a Wise Account online or in the Wise app, for personal or business use, and hold NZD alongside USD and 40+ other currencies all in the same account.

You can exchange between currencies in the app with the mid-market exchange rate and low, transparent fees, order an optional debit card for spending and cash withdrawals, and send and receive payments globally in USD, NZD and more.

Accounts offer local and SWIFT details to receive payments, with no fee to receive NZD to your Wise account using your local account details.

• Hold and exchange NZD and 40+ other currencies
• Mid-market currency exchange with low, transparent fees
• Use your Wise Multi-Currency Card in 150+ countries for spending and cash withdrawals

Account opening fee: No opening fee for personal customers. Business customers pay 31 USD for full feature access*. No minimum balance

Eligibility criteria: Available to residents of the US and many other countries and regions globally

Supported currencies: NZD, USD and 40+ other currencies

Monthly fees: None

Exchange rates: Mid-market exchange rates

*About Wise pricing: Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

Revolut Account

You can open 3 different types of Revolut Account as a personal customer in the US, with an additional 4 plan options for business customers. As a personal customer you can choose a Standard plan with no monthly fee, or upgrade to a plan with maintenance fees up to 16.99 USD/month.

Higher tier plans offer more no fee transactions, discounts and perks – but all accounts have a linked debit card and ways to convert in the account between 25+ currencies including USD and NZD. You won’t get local account details to receive NZD payments, but you do get SWIFT account information to receive New Zealand dollars that way.

• Hold and exchange many currencies in the same account
• Select your account plan based on your transaction needs
• Personal and business services offered

Account opening fee: No opening fee, no minimum balance

Eligibility criteria: Available to residents of the US and many other countries and regions globally

Supported currencies: NZD, USD and 25+ other currencies

Monthly fees: Personal customers pay 0 USD – 16.99 USD/month, business customers 10 USD – 140 USD/month

Exchange rates: Weekday currency exchange uses the Revolut rate to plan limits, then fair usage fees of up to 0.5% apply. Weekend exchange may attract an extra fee up to 1%.

HSBC Global Money Account

You can open an HSBC Global Money Account if you already hold a Premier Checking Account with HSBC. This allows you to hold a balance in 8 currencies to send payments overseas more conveniently and with no HSBC fees to pay.

Your HSBC Global Money Account account doesn’t offer a debit card, so this account is better suited to people paying international bills or investing abroad, rather than for day to day use.

• Hold a balance in 8 currencies including NZD and USD
• Transfer from your account to other HSBC accounts and local or overseas bank accounts
• No transfer fees when you spend money out of your account

Account opening fee: None

Eligibility criteria: You must be an HSBC Premier customer, which requires you to meet eligibility criteria including holding a 100,000 USD or more deposit with HSBC.

Supported currencies: 8 currencies including NZD and USD

Monthly fees: None for the Global Money Account – fees may apply to your underlying checking account

Exchange rates: HSBC rates – Global Money Account offers live, competitive rates you can see in the app

East West Bank Foreign Currency Account NZD account

Open an East West Bank Foreign Currency Account in 14 different currencies including NZD. Accounts are intended for savers, and can include easy access accounts and fixed term account products which often get a higher rate of interest.

You’ll need a USD account with East West Bank to apply for this account, which does not come with a linked debit card.

• NZD, USD and many other popular global currencies offered
• Earn interest on your NZD savings with easy access and term deposit accounts
• Your money is held in the United States and FDIC insured

Account opening fee: None

Eligibility criteria: You must have an East West USD account, which usually requires you to have an SSN or ITIN, proof of ID and proof of a US address

Supported currencies: 14 currencies including NZD

Monthly fees: None for your NZD savings account – fees may apply for your underlying USD account

Exchange rates: East West exchange rates which may include a markup

Airwallex Business NZD Account

If you need an NZD account for business purposes, an Airwallex Business NZD Account could help you take customer payments online, with corporate debit and expense cards for business spending online and in person.

Airwallex accounts offer great exchange rates with low fees for exchange, making this a solid choice for ecommerce businesses in particular.

• Receive, hold, send and spend 20+ currencies
• Take customer card payments online easily
• Business features including batch payments, corporate cards, cashback on USD business spending and more

Account opening fee: None

Eligibility criteria: US business owners with eligible proof of address and ID, as well as business verification paperwork

Supported currencies: 20+ including USD and NZD

Monthly fees: 0 USD – 99 USD depending on plan

Exchange rates: Interbank rates with a fee of 0.5% for major currencies and 1% for less commonly traded currencies

Fees for New Zeland dollar currency accounts in the US

Because NZD accounts in the US are targeted at different customer needs, the fees you can expect also vary a lot.

Before you select an account it’s worth spending a bit of time reading the full fee schedule, looking in particular at any unavoidable fees, and the costs for transactions you expect to make regularly.

Here are a few common fees you’ll need to look out for:

• Monthly maintenance fee: This cost may have several different names, but it is often an unavoidable fee which you’ll pay every month to service your account. The NZD accounts we’ve selected here may have no monthly fee – like Wise – or may have different pricing plans you can select, including some with no monthly charges – like Revolut.
• Fall below fee: You might have to pay a fall below fee if your account has a minimum balance requirement. This is a common feature of accounts aimed at high net worth individuals. For example, with the HSBC Global Money Account you need to be a Premier customer, which means you need a deposit of 100,000 USD or more to qualify and avoid fall below fees.
• ATM withdrawal fees: Where your NZD account offers a debit card, you’ll want to check any associated costs, including the ATM fees when you get cash. Some providers like Wise and Revolut have some no-fee withdrawal options monthly, before charges begin, which can help minimize the amount you spend on fees.
• Foreign transaction fees: Foreign transaction fees might apply if you have a linked card and spend a currency you don’t hold in your account. Check your account fee sheet to see if this cost applies, as it can add 3% or so onto your overseas spending.
• Wire transfer fees: If you need a foreign currency account you probably need to send payments internationally from time to time – look at the fees charged and also the exchange rate used where needed, to calculate the full cost of your wires.

How to open a New Zealand dollar bank account in the US

You might find that the process to open your New Zealand dollar foreign currency account is different depending on the provider or bank you select.

Banks and providers need to check your identity before opening your account – so pretty much all accounts will require you to have an acceptable proof of ID and US address, as well as an SSN or ITIN.

Beyond that, the process can be pretty varied, with digital first providers managing everything online, and some banks asking you to visit in person to open your account.

With banks: If you want to open a New Zealand dollar bank account with banks such as East West Bank or HSBC in the US, there’s a good chance you’ll need to go into a branch in person with your ID and other documents. The teller can talk you through the application process, check your paperwork and give you your account collateral as part of the appointment.

With online providers: Online specialist providers like Wise, Revolut or Airwallex in the US manage the application, verification and onboarding process digitally, so you can get everything done from home.

Usually you’ll need to complete an application online or in an app, then upload clear images of your documents for checking. After verification you can access your account, to order a debit card, make a payment, or find your account information for an incoming payment.

How to use your NZD account in the US

The way you use your NZD account in the US depends on the way you need to transact, and whether you’re using your account for personal or business use. Here are a few common reasons you may want to use your new NZD account:

• Send money in NZD or other currencies: Use your account to send one off or recurring payments to New Zealand, or to other countries globally. Providers like Wise offer low cost international transfers, with mid-market rate conversion if you don’t have the balance you need for sending.
• Hold and exchange NZD and USD: Having NZD and USD in one account can be very helpful if you need to exchange from one currency to another, or view your balances easily.
• Receive payments from New Zealand: Your account may have local or SWIFT information for NZD, allowing you to receive payments. Wise has both local NZD details which you can receive with no Wise fee, and SWIFT details to receive with a 6.89 NZD incoming transfer fee.
• Use your debit card locally and overseas: Your debit card will be linked to your balance, and so you can spend your NZD in New Zealand – or your USD balance at home if you want. There’s usually no extra fee to spend a currency you hold a balance in, which can keep down the costs of foreign transactions.

Conclusion

Having a NZD account in the US could be helpful for people doing business between the two countries, US citizens planning travel or paying overseas bills, and New Zealanders in the US who need to continue to manage their money in NZ dollars.

Getting a flexible NZD account can help you avoid unnecessary currency conversion fees, and make it easier to send and receive payments internationally. If you want to save or invest, an option like the foreign currency deposit accounts from East West might appeal – or for a flexible account for travel and payments, a multi-currency account from a provider like Wise could be a good pick. Wise lets you send, spend and hold NZD along with USD and 40+ other currencies. Compare your options looking at features, fees, convenience and currency availability, to see which account type is the best fit for you.

Useful resources:

• Wise – Wise landing page with links to pricing and account features
• Revolut Personal Pricing Plans – Revolut US personal pricing plans and feature descriptions
• Revolut Business Pricing Plans – Revolut US business pricing plans and feature descriptions
• HSBC Global Money Account – HSBC Global Money Account introduction and application page
• East West Bank International – East West Bank international services including foreign currency account products
• Airwallex Pricing – Airwallex US account descriptions and pricing plans