In order to live comfortably while you are in Auckland, you will need to have about $NZ15,000 per year available for living costs, above the cost of your tuition. The cost of living in New Zealand is comparable to what you’ll find in any OECD country.
You will receive advice from our Student Support team during orientation on how best to handle your money, but initially it is important to note that you should have some New Zealand cash for immediate expenses (e.g. airport costs or transport). You may need further funds in the form of traveller’s cheques, which can be readily cashed. There are foreign exchange offices at the international terminals in each New Zealand airport.
We strongly recommend that while in New Zealand you do not carry large amounts of cash. We suggest opening a bank account as soon as possible after arrival. All major banks have branches within 100 meters of the Campus. You can also purchase goods using EFTPOS (Electronic Funds Transfer at Point of Sale) at nearly all retailers. Any large amounts of money may be sent in the form of a bank draft, however electronic transfers are, in most cases, the most efficient method of sending funds to New Zealand. Overseas cheques are sometimes difficult to clear and are not recommended.
Local currency is the New Zealand dollar. There are 10c, 20c, and 50c, $1 and $2 coins, and $5, $10, $20, $50 and $100 notes. Information regarding the current foreign exchange rate of the New Zealand dollar against your currency can be found at www.oanda.com/converter/classic
Goods and services tax (GST)
All goods and services in New Zealand are imposed with a 15% Goods and Services Tax (GST). Under law, the prices displayed must include the GST content.
Tipping is not normally the custom at New Zealand airports, taxis, hotels or restaurants.