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Funds Transfer Scheme (FTS)

The FTS is a secure way for students from some countries to transfer funds to support themselves in New Zealand.

Participating countries

The FTS is only available to students from:

The purpose of FTS

The ANZ Bank of New Zealand (ANZ) operates the FTS. The FTS:


Signing up to the FTS does not guarantee that we will approve your student visa application.

Who needs an FTS account

Use the FTS if we ask you to set one up to show you have genuine access to funds.

Conditions of the FTS

You can only use FTS if:

Minimum amounts you can transfer

This is the minimum amount you need to transfer to your FTS account.

You need to transfer at least:


Living costs do not include your course or tuition fees.

If we ask you to set up an FTS account

If you meet the criteria for a student visa we may give you a letter offering you approval in principle (AIP) on the condition you use the FTS to transfer funds to New Zealand.

Check ANZ’s website for information on using the FTS to transfer funds.

Funds Transfer Scheme — ANZ website

Apply for an FTS account and transfer your funds

If you receive an AIP letter with the condition you use FTS, you must apply for an FTS account and transfer your funds.

Complete the FTS online application form. As the account holder, you must complete the application form yourself.

You need to provide:

  • your AIP letter
  • a copy of your passport.

ANZ confirms they have received your funds

After your funds have been transferred to your FTS account, ANZ:

  • sends you an email confirming they have received the money
  • contacts INZ directly to confirm the funds transfer.

INZ finalises your visa application

INZ only finalises your visa application and grant your visa after we receive:

  • the confirmation from ANZ they received your funds, and
  • the receipt for your tuition fees.

Withdrawing money from your FTS account

When you arrive in New Zealand, you need to visit an ANZ branch to activate your account.

Once your account is active, you can withdraw money at ANZ branches or ATMs, or by using your EFTPOS or debit card.

How much you can withdraw

You can only withdraw a set amount each month — this will be the same amount for 12 months. The more you put in your FTS account, the more money you can withdraw each month for your living costs.

Table 1: Example amounts of how much you can withdraw
Amount you put in Amount you can withdraw each month for 12 months
NZD $17,000 NZD $1,416
NZD $20,000 NZD $1,666
NZD $25,000 NZD $2,083

Withdrawing all your money from your FTS account

You can only withdraw the set amount released to your FTS account each month. If you want to withdraw all the money in your account, you can only do that in some circumstances.

If your visa application is declined

If your application is declined, contact ANZ to arrange the refund of your FTS money. You need to give ANZ a copy of our letter declining your application.

If you stop your study

  1. Your education provider tells us you are no longer studying with them.
  2. You contact the ANZ bank to organise the transfer of the money in your account.
  3. The bank tells us you have closed your account.

If you have completed your study

If you have completed your studies and you still have money left in your FTS account, you can withdraw the remaining balance.

Contact ANZ and provide:

Other bank accounts

As well as your FTS account, you can open other bank accounts with any bank in New Zealand including ANZ.