Funds Transfer Scheme

This Immigration New Zealand scheme, operated by ANZ, allows students to show they have genuine access to money to support themselves while studying in New Zealand.

About the scheme

The Funds Transfer Scheme (FTS) is available to students aged 13 years or over from some countries and forms part of a student visa application. Immigration New Zealand will let you know if you need to participate in the FTS. 

The FTS helps you to securely transfer funds to New Zealand so that a set amount can be withdrawn each month to use in New Zealand. This shows Immigration New Zealand that you have genuine access to money to support yourself while studying in New Zealand.

To read about the FTS, visit the Immigration New Zealand website.

FTS accounts information

Under the FTS, you get two accounts: 

  1. A savings account, into which you transfer the total amount of funds you need to support yourself for your first year of study.
  2. An everyday account, into which you’ll receive funds from your savings account each month for your everyday transactions. 

Before you can access your accounts and once you’ve received confirmation of your student visa from Immigration New Zealand, you’ll need to activate your accounts at an ANZ branch in New Zealand. This will include completing identification checks.

Once activated, you’ll be able to see the balances of both accounts in ANZ goMoney mobile app and ANZ Internet Banking. This information will also be available via ANZ Phone Banking.

Savings account – ANZ Online account

Not all ANZ Online account functionality and benefits are available on this account.

Deposits and withdrawals

  • Once opened, deposit your annual living expenses into this account, as required by Immigration New Zealand for your student visa. We’ll let Immigration New Zealand know when this has been done.
  • You won’t be able to transfer money out of this account until you’ve activated your accounts.
  • Once you’ve activated your accounts, an Automatic Payment for your monthly living expenses will be set up to transfer a set amount each month from this account to your everyday transaction account. The amount of each Automatic Payment will be the balance of your savings account as at the date of activation (excluding any interest earned or to be earned) divided by 12.
  • You won’t be able to withdraw any money or make outward payments from this account, other than as described above. If you need access to this money due to financial hardship or any other reason, you’ll need to contact Immigration New Zealand directly.

Fees and interest

  • Overseas bank charges and ANZ’s International Services Inward payments fees may apply to the deposit of your annual living expenses.
  • You won’t pay any monthly account, deposit or withdrawal fees. Non-standard fees and charges may apply. See our Fees and Charges brochure (PDF 166KB) for more information.
  • You’ll earn interest on money in this account while it is open and has a positive balance. Interest is calculated daily and paid on the last business day of each month. When the account is closed, the total interest earned will be paid to an account that you choose.

Everyday account – ANZ Jumpstart account

Deposits and withdrawals

  • This will be your everyday transaction account.
  • Once you’ve activated your accounts and the monthly Automatic Payment from your savings account has been deposited into this account, you’ll have access to these funds via a range of channels including the ANZ goMoney mobile app, ANZ Internet Banking, ANZ Phone Banking and ANZ branches.
  • Once you’ve activated your accounts, you can apply for an ANZ Visa Debit card. You must be aged 13 years or over to apply for an ANZ Visa Debit card. There’s no annual fee for an ANZ Visa Debit card.

Fees and interest

  • You won’t pay any monthly account, transaction or deposit fees. Non-standard fees and charges may apply. See our Fees and Charges brochure (PDF 166KB) for more information
  • No interest is earned on the money in this account.

Apply for the FTS

Important information

Our eligibility criteria apply. Fees and interest rates are subject to change. Non-standard fees may apply. Please use the following links for full details of our Terms and Conditions, International Student Funds Transfer Scheme Account Terms and Conditions (PDF 73KB), Fees and Charges (PDF 166KB), ANZ EFTPOS card and ANZ Visa Debit card Conditions of Use (PDF 126KB), and ANZ Electronic Banking Conditions (PDF 129KB).

This material is for information purposes only. We recommend seeking financial advice about your situation and goals before getting a financial product. To talk to one of our team at ANZ, please call 0800 269 296, or for more information about ANZ’s financial advice service or to view our financial advice provider disclosure statement see