Overview
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Accommodations
Beyond Tourism
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Basics
New Zealand’s unit of currency is the New Zealand dollar (NZ$). Coins come in denominations of 5¢, 10¢, 20¢, 50¢, $1, and $2; notes come in denominations of $5, $10, $20, $50, and $100. The currency chart below is based on April 2007 exchange rates between local currency and Australian dollars (AUS$), Canadian dollars (CDN$), European Union euro (EUR€), British pounds (UK£), and US dollars (US$). Check the currency converter on websites like www.xe.com or www.bloomberg.com, or a large newspaper for the latest exchange rates.
As a general rule, it’s cheaper to convert money in New Zealand than at home. While currency exchange will probably be available in your arrival airport, it’s wise to bring enough foreign currency to last the first 1-3 days of your trip. Typical bank hours in New Zealand are Monday through Friday 9:30am-4:30pm, and major banks include Bank of New Zealand (BNZ), Westpac Trust, Australia and New Zealand Banking Group (ANZ), and ASB Bank (ASB).
When changing money abroad, try to go only to banks or currency depots that have at most a 5% margin between their buy and sell prices. Since you lose money with every transaction, convert large sums (unless the currency is depreciating rapidly), but no more than you’ll need.
If you use traveler’s checks or bills, carry some in small denominations (the equivalent of US$50 or less) for times when you are forced to exchange money at disadvantageous rates, but bring a range of denominations since charges may be levied per check cashed.
Traveler’s checks are one of the safest and least troublesome means of carrying funds. American Express and Visa are the most recognized brands. Many banks and agencies sell them for a small commission. Check issuers provide refunds if the checks are lost or stolen, and many provide additional services, such as toll-free refund hotlines abroad, emergency message services, and assistance with lost or stolen credit cards or passports. Traveler’s checks are readily accepted in major cities in New Zealand. Ask about toll-free refund hotlines and the location of refund centers when purchasing checks, and always carry emergency cash.
Where they are accepted, credit cards often offer superior exchange rates—up to 5% better than the retail rate used by banks and other currency exchange establishments. Credit cards may also offer services such as insurance or emergency help, and are sometimes required to reserve hotel rooms or rental cars. MasterCard and Visa are the most frequently accepted; American Express cards work at some ATMs and at AmEx offices and major airports.
The use of ATM cards is widespread in New Zealand. Depending on the system that your home bank uses, you can most likely access your personal bank account from abroad. ATMs get the same wholesale exchange rate as credit cards, but there is often a limit on the amount of money you can withdraw per day (usually around US$500). There is typically also a surcharge of US$1-5 per withdrawal.
Debit cards are as convenient as credit cards but have a more immediate impact on your funds. A debit card can be used wherever its associated credit card company is accepted, yet the money is withdrawn directly from the holder’s bank account. Debit cards often also function as ATM cards and can be used to withdraw cash from banks and ATMs.
The two major international money networks are MasterCard/Cirrus (for ATM locations US ☎800-424-7787; www.mastercard.com) and Visa/PLUS (for ATM locations US ☎800-843-7587; www.visa.com). Most ATMs charge a transaction fee paid to the bank that owns the ATM.
If you run out of money while traveling, the easiest and cheapest solution is to have someone back home make a deposit to your bank account. Failing that, consider one of the following options.
It is possible to arrange a bank money transfer, which means asking a bank back home to wire money to a bank in New Zealand. This is the cheapest way to transfer cash, but it’s also the slowest, usually taking several days or more. Note that some banks may only release your funds in local currency, potentially sticking you with a poor exchange rate; inquire about this in advance. Money transfer services like Western Union are faster and more convenient than bank transfers—but also much pricier. Western Union has many locations worldwide. To find one, visit www.westernunion.com, or call in Australia ☎800 173 833, in Canada 800-325-6000, in New Zealand 0800 005 253, in the UK 0800 833 833, or in the US 800-325-6000. Money transfer services are also available to American Express cardholders and at select Travelex offices.
In serious emergencies only, the US State Department will forward money within hours to the nearest consular office, which will then disburse it for a US$30 fee. If you wish to use this service, you must contact the Overseas Citizens Service division of the US State Department (☎202-647-5225; toll-free 888-407-4747).
The cost of your trip will vary, depending on where you go, how you travel, and where you stay. The biggest expenses will probably be your round-trip (return) airfare to New Zealand (see Getting to New Zealand: By Plane). A bus pass (see By Bus), car rental (see By Car), or island-hopping pass (see By Plane) is another pre-departure expense. Before you go, calculatie a reasonable budget.
To give you a general idea, a bare-bones day in New Zealand (camping or sleeping in hostels, buying food at supermarkets) would cost about US$35 (NZ$47); a slightly more comfortable day (sleeping in hostels and the occasional budget hotel, eating one meal per day at a restaurant, going out at night) would cost about US$55 (NZ$75); for a luxurious day, the sky’s the limit. Don’t forget to factor in emergency reserve funds (at least US$200) when planning how much money you’ll need.
Some simple ways include searching out opportunities for free entertainment, splitting accommodation and food costs with fellow travelers, and buying food in supermarkets rather than eating out. Bring a sleepsack to save on sheet charges in hostels, and do your laundry in the sink (unless you’re explicitly prohibited from doing so). Museums often have certain days once per month or week when admission is free; plan accordingly. If you are eligible, consider getting an ISIC or an IYTC; many sights and museums offer reduced admission to students and youths. Bikes are the most economical option for getting around quickly. Renting a bike is cheaper than renting a moped. Don’t forget about walking.
Tipping is neither customary nor expected in New Zealand establishments. In restaurants, a gratuity is always included in the price of the meal. If the service provided is exceptional, you may consider offering a small tip, but it is by no means necessary or even common. Bargaining is basically nonexistent.
A departure tax is levied in New Zealand at the airport for those over 12. Prices vary but are usually around NZ$25. The fee, not often included in your flight price, must be paid in New Zealand dollars. A 12.5% Goods and Services Tax (GST) is applied to all goods for sale and is usually included in display prices.
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For 52 years, we have published the world’s favorite budget travel guides, written entirely by students and updated every year. With pen and notebook in hand and a few changes of underwear stuffed in our backpacks, we spend months roaming the globe in search of travel bargains.
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