Money in New Zealand
Dealing with money in New Zealand is safe and simple. Learn about the New Zealand currency and money culture before moving here to study.
Money culture
There’s no need to carry large amounts of cash with you anywhere in New Zealand. In fact, many New Zealanders hardly carry cash at all and use their bank cards (known as EFTPOS or debit cards) to pay for everything.
Remember to keep your bank card safe and don’t tell anyone your PIN number. Many Kiwis do most of their banking online or use an app on their phone. All New Zealand banks offer online banking. Find out more about banking in New Zealand.
Tip: New Zealanders can be private about money matters like how much they earn or how much they paid for items. We usually only ask people we know well or we ask first if they feel comfortable telling us.
Sales tax
Sales tax, or GST (which stands for Goods and Services Tax), is 15 percent. It’s always included in the price of all goods and services. The price you see on the price tag includes this tax so you don't need to pay more.
Tipping is not part of New Zealand culture, so it’s not expected in cafes, restaurants, bars, hairdressers or taxis. People will love it if you do recognise great service with a tip, but don’t feel you have to!
Currency and exchange rates
The currency used in New Zealand is the New Zealand dollar and is made up of $5, $10, $20, $50 and $100 notes, and 10c, 20c, 50c, $1 and $2 coins. You'll notice that we have two sets of banknotes in circulation – one is newer than the other. They're made of plastic paper and the pictures on them show important people in New Zealand's history.
The value of the New Zealand dollar against other currencies changes on a daily basis. When you first arrive in New Zealand it’s helpful to work out what our currency is worth compared to the currency in your home country so you can track your spending. Banks have signs in their windows or you can check online at xe.com(external link that opens in a new tab) or at interest.co.nz(external link that opens in a new tab).
Tip: You can download a currency exchange app like Xe(external link that opens in a new tab) on your phone so you can see how much money you're spending.