Funds Transfer Scheme

If you are applying for a student visa, you must provide evidence that you have enough money to maintain yourself comfortably while studying. The ANZ Bank of New Zealand (ANZ) operates the Funds Transfer Scheme (FTS) to help you transfer your funds to New Zealand and access them regularly once you are here.

The FTS is a safe and secure way to transfer your living cost funds to New Zealand and ensure access to these funds during your stay. The FTS does not guarantee that your student visa application will be approved but it is one way to show us that you will have access to your funds while you are in New Zealand.  

Participating countries

The FTS is only available to students from these countries:

  • China
  • India
  • Philippines
  • Sri Lanka

Conditions of the FTS

The FTS is intended to ensure that you will be able to access to your funds for living costs so that you can maintain yourself comfortably while you are studying. You should be aware that the following conditions apply to the FTS:

  • You will be required to transfer at least the minimum funds requirement for your first year of study.
  • You will only be able to access a specified amount of money each month.

Minimum funds requirement

Funds for your living costs must be in addition to your tuition fees. You need NZ $15,000 for each year of study. This is the minimum amount you need to transfer to your FTS account.

Note: The minimum funds requirement for citizens of China is different. Refer to the China FTS page.

China FTS page

Accessing your funds for living costs

When you arrive in New Zealand, you need to visit an ANZ branch to activate your account. Once your account is active, you will be able access your funds by withdrawing money at ANZ branches or ATMs, or by using your EFTPOS or debit card.

Account activation does not mean you will have full access to your funds. Your funds are intended solely for your living costs like your food, rent, utilities, transportation, etc. To help you make sure that you don’t overspend or run out of money, your funds will be held in your account by ANZ for a 12 month period and only a set amount is available for you to access each month.

If you only transfer the minimum funds requirement (NZ $15,000), you will have access to NZ $1,250 each month. The more you transfer to your FTS account, the more money you will be able to use for your living costs. A sample calculation is provided below to guide you: 

Duration of stud Total money transferred to FTS account Calculation Money accessible each month
Full year NZ $15,000 NZ $15,000 ÷ 12 months NZ $1,250
Full year NZ $18,000 NZ $18,000 ÷ 12 months NZ $1,500


Your FTS account does not stop you from having another bank account. You can open  additional accounts with any bank in New Zealand, including ANZ.

Withdrawing the balance of your FTS account 

You can only withdraw the set amount released to your FTS account monthly. If you wish to withdraw the balance of the funds from your FTS account, you may only do so under the following circumstances:

  • your student visa application is declined
  • you decide not to continue your study and have left New Zealand
  • you’ve completed your studies.

If your visa application is declined, contact ANZ to arrange the refund. You need to provide ANZ with a copy of the decline letter from Immigration New Zealand.

If you decide not to continue your study, contact the Immigration New Zealand office that issued your visa and provide us with both:

  • a letter from your education provider confirming your enrolment has been terminated or that you have withdrawn from the course
  • evidence you have left New Zealand.

ANZ will have additional requirements that they need you to provide to be able to withdraw your funds if you decide not to continue your studies. You will need to contact ANZ directly for these requirements.

If you have completed your studies and you still have money left in your FTS account, you can withdraw the remaining balance by providing ANZ with evidence of your course completion or your new visa.

FTS and your student visa application

  1. Submit your student visa application which should include your evidence of funds (tuition fees plus living costs) and all other student visa requirements for assessment.
  2. If you meet all of the criteria for a student visa, apart from the funds requirement, we may offer you the FTS and (AIP) subject to you using the FTS to transfer funds to NZ. You will receive a letter confirming your AIP.
  3. Once you receive your AIP letter, contact ANZ to apply for an FTS account and transfer your funds. You will need to provide your AIP letter and a copy of your passport to ANZ.
  4. Once your funds have been transferred to your FTS account, ANZ will send you a letter confirming the receipt of funds. You’ll need to provide a copy of this letter to us on or before the deadline stated in your AIP letter.
  5. We will finalise your application and grant your visa once we receive the funds confirmation from ANZ and your tuition fee receipt.

Note: In some cases, students and/or their parents may want to use the FTS because it is an easier way to transfer money to New Zealand and it guarantees that the student will have access to living costs funds each month. If this is the case, you need to indicate this in your application and tell us why. You will still need to show the amount of funds you have access to, and that your funds are from a genuine source.

Applying for an FTS account

To apply for an FTS account, visit the ANZ New Zealand website and complete the Funds Transfer Scheme account application form.

Funds Transfer Scheme account application form