Hailey Johnson
New Zealand bank account numbers follow a standardised format of 16 digits, with the first six digits being the bank and branch number, also known as the bank code. While this format is similar to Australia's Bank State Branch (BSB) system, the two systems are not interchangeable. New Zealand has not adopted the BSB standard, so when giving bank details, one must provide their full bank branch account number and suffix.
| Characteristics | Values |
|---|---|
| Do New Zealand banks have BSB numbers? | No, New Zealand has not adopted the BSB standard. |
| New Zealand bank account numbers | Consist of 16 digits: a prefix representing the bank and branch (six digits), otherwise known as the Bank code. |
| Interchangeability with Australia's Bank State Branch | The two systems are not interchangeable. |
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What You'll Learn
New Zealand bank account numbers are 16 digits long
The format of New Zealand bank account numbers is similar to Australia's Bank State Branch system. However, the two systems are not interchangeable. Additionally, New Zealand bank account numbers in foreign currencies may vary by bank.
Bank codes are coordinated by Payments NZ, which administers the Bulk Electronic Clearing System (BECS). This system facilitates direct debits, automatic payments, bill payments, and direct credits. Payments NZ also oversees other payment systems in New Zealand.
The table of bank branch numbers and related details is updated monthly by Payments NZ with any additions or amendments.
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The first six digits are the bank and branch code
New Zealand bank account numbers follow a standardised format of 16 digits. The first six digits of a New Zealand bank account number are the bank and branch code, otherwise known as the Bank Code. This is followed by a seven-digit account number and a three-digit suffix. The first digit of the suffix is usually ignored as it is always 0, and the remaining two or three digits are shown to the end customer.
The Bank Code is coordinated by Payments NZ, who also administer the Bulk Electronic Clearing System (BECS). This system covers direct debits, automatic payments, bill payments, and direct credits.
When sending funds from overseas to a Bank of New Zealand (BNZ) account, a SWIFT BIC (Bank Identifier Code) is required. The SWIFT BIC code for BNZ is BKNZNZ22, or BKNZNZ22100 if a longer code is required.
It is important to note that New Zealand has not adopted the BSB (Bank State Branch) code system used in Australia, so international transfers to New Zealand bank accounts should include the full bank branch account number and suffix as indicated on the account statement.
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New Zealand has not adopted the BSB code
The origins of the New Zealand format can be traced back to the establishment of Databank Systems Limited, a company set up by a consortium of competing banks in the country to provide computing resources for its members. All banks in New Zealand technically have three-digit suffixes, though the first digit is always 0, so it is usually ignored. Some banks, like BNZ, include the first three digits of the suffix in their presentation of the number to the end customer, while others only show the last two.
For international payments, SWIFT BIC (Bank Identifier Code) codes are used to identify a particular bank or financial institution. The SWIFT BIC code for the Bank of New Zealand, for instance, is BKNZNZ22, or BKNZNZ22100 when a longer SWIFT code is required.
New Zealand bank account numbers in foreign currencies may vary by bank. When providing bank details for international payments, it is important to provide the full bank branch account number and suffix as indicated on your statement.
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The SWIFT BIC code is used for international payments
New Zealand bank account numbers follow a standardised format of 16 digits, including a prefix representing the bank and branch, otherwise known as the bank code. However, New Zealand banks do not use BSB numbers. Instead, they use SWIFT BIC codes for international payments.
The SWIFT BIC code consists of four parts: the bank code, country code, location code, and branch code. The bank code is made up of four letters and usually looks like a shortened version of the bank's name. The country code is made up of two letters representing the country the bank is in. The location code is made up of two letters or numbers and represents the location of the bank's head office. Finally, the branch code is made up of three digits and specifies a particular branch.
SWIFT BIC codes can be found on a bank statement, the bank's website, or by searching for them online. They are used all over the world, including in New Zealand. When sending money internationally, it is important to use the correct SWIFT BIC code to ensure that the money is directed to the right place.
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Domestic account numbers include a four-digit branch number
Domestic account numbers in New Zealand include a four-digit branch number. This is part of the standardised 16-digit account number, which also includes a six-digit prefix representing the bank and branch, a seven-digit account number, and a three-digit suffix. The format is as follows: 02-NNNN-NNNNNNN-NNN. The first two digits, '02', indicate that it is a domestic account. The next four digits are the branch number. The following seven digits are the account number, and the final three are the suffix.
The account body, which consists of the seven-digit account number, is right-adjusted and padded with zeros if necessary. The account body does not include a check digit, but it can be validated using a modulus algorithm. The three-digit suffix is always included in the account number by the Bank of New Zealand (BNZ), but other banks may only show the last two digits to the end customer. This is because the first digit of the suffix is always '0', so it is usually ignored.
When providing bank details for international payments, it is important to note that New Zealand has not adopted the same codes as other countries. Therefore, when giving account details, one must provide the full bank branch account number and suffix as indicated on their statement. For BNZ accounts, the clearing code is NZ02nnnn, where 'nnnn' represents the four-digit branch number. For foreign currency accounts, the code is NZ021000.
The SWIFT BIC (Bank Identifier Code) for international payments to BNZ is BKNZNZ22, or BKNZNZ22100 if a longer code is required.
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Frequently asked questions
No, New Zealand has not adopted the BSB (Bank State Branch) number system.
New Zealand bank account numbers in NZD follow a standardised format of 16 digits: a prefix representing the bank and branch (six digits), otherwise known as the Bank code; followed by the account number (seven digits); and a suffix (three digits).
New Zealand bank account numbers in foreign currencies vary by bank.
To receive money from overseas, you will need to provide your full bank branch account number and suffix as indicated on your statement. To send money overseas, you will need to use the SWIFT BIC (Bank Identifier Code) to identify the receiving bank or financial institution.
