New Zealand Funds Transfer Scheme (2026) – Student Visa Proof of Funds Explained

Highlights: New Zealand Announces Funds Transfer Scheme to Aid International Students

• New Zealand has announced a new Funds Transfer Scheme (FTS) to help international students manage lifestyle expenses in the country.
• Students planning to study in New Zealand can transfer funds into a dedicated savings account before arrival, which will be released monthly to cover regular expenses.
• The Funds Transfer Scheme requires a minimum of NZ$20,000 or NZ$17,000 annually to support daily expenses.
• Immigration New Zealand manages the savings account and new funding system for international students in partnership with ANZ Bank New Zealand Limited.
• Students can begin the fund transfer process after receiving their Approval in Principle (AIP) letter from INZ.

*Want to apply for a  New Zealand student visa? Let Y-Axis guide you with the process.
 

New Zealand to Offer Financial Support to International Students through Funds Transfer Scheme (FTS)

New Zealand has officially launched a new Funds Transfer Scheme (FTS) for international students migrating to the country. Under this new system, students can transfer funds to a dedicated ANZ Bank New Zealand Limited managed savings account before arrival. The collected funds can be withdrawn monthly upon immigration to cover lifestyle costs and daily expenses.

Immigration New Zealand (INZ) has set the minimum fund requirements as NZ $20,000 per year for tertiary education and NZ $17,000 for compulsory education. International students must secure an FTS as proof of sufficient funds for sustenance when applying for a New Zealand student visa.

To apply for a study visa in New Zealand, candidates must be at least 13 years old and transfer the required minimum maintenance funds for one year of study. The new scheme provides funds to international students in New Zealand to support living expenses, but does not cover tuition fees.
 

Also, read...

New Zealand introduces pathway visa for smoother student entry. Apply now!
 

How to apply for the FTS System in New Zealand?

The steps to apply for New Zealand’s Fund Transfer Scheme are as follows:

Step 1: Wait until you receive an Approval in Principle (AIP) letter from INZ.

Step 2: Complete the online application with  ANZ Bank New Zealand Limited for setting up the savings account

Step 3: Contact the bank to verify the documents necessary for opening an FTS account.

Step 4: Once a savings account is created, transfer the amount (NZ$20,000 or NZ$17,000)into the FTS savings account and inform the bank.

Step 5: The bank then confirms receipt of funds to INZ (necessary for student visa application).

Step 6: Upon arriving in New Zealand, activate the FTS account in person.

Step 7: Wait for funds to be transferred to your everyday account monthly to cover lifestyle expenses.
 

Also, read...

New Zealand launches Short-Term Graduate Work Visa and expands post-study work options. Apply Now!
 

How to Access, Manage, Withdraw, and Request a Refund Under the FTS Scheme?

The Funds Transfer Scheme for international students in New Zealand sets the following limits for accessing the funds:

• The monthly transfer amount from the FTS savings account to the students' everyday account remains fixed.
• INZ has set the limit at a deposit of NZ $20,000, which allows a maximum monthly transfer of NZD 1,666, while NZ $17,000 allows up to NZD 1,416 per month.
• Access to additional funds is restricted and may be granted only in specific cases, such as financial hardship, subject to approval.
• Students can open other independent savings accounts in New Zealand alongside their FTS accounts.
• Upon rejection of a student visa, students can request a refund.
• Upon discontinuation of studies, students can withdraw the remaining balance.

Note: New Zealand's Fund Transfer Scheme reflects the country's intention to provide overseas students with access to structured funds while in New Zealand.
 

*Are you looking for step-by-step assistance with overseas immigration? Contact Y-Axis, the world’s No. 1 overseas immigration consultancy
 

For recent immigration updates, check out the Y-Axis News Page

 

FAQs

What is New Zealand’s Funds Transfer Scheme for student visa applicants?

New Zealand’s Funds Transfer Scheme is a financial arrangement that helps international students show proof of funds for living expenses. Students transfer required funds into a designated account before visa approval. After arriving in New Zealand, the funds are released in monthly instalments to support daily expenses during their study period. This system ensures students have stable financial support while studying.

Who is required to use the New Zealand Funds Transfer Scheme?

Immigration New Zealand may require certain student visa applicants to use the Funds Transfer Scheme. This typically applies to students from selected countries, including India. Applicants are informed through an approval in principle letter if they must use the scheme. This process helps authorities confirm that students have genuine and accessible funds.

How does the Funds Transfer Scheme work for student visa applicants?

Students first receive an approval in principle for their visa. They then open a designated savings account and transfer the required funds. After verification, the visa is issued. Once students arrive in New Zealand, the funds are transferred monthly into their personal bank account to cover living expenses.

How much money is required under the Funds Transfer Scheme?

Students are generally required to transfer funds for one year of living expenses. The amount is usually around NZD 20,000 per year for higher education students. These funds are released monthly after arrival to ensure consistent financial support throughout the study period.

Can students withdraw funds freely under the scheme?

Students typically receive funds in monthly instalments rather than full withdrawals. This helps manage expenses throughout the academic year. In special situations such as emergencies, students may request additional withdrawals with approval.

Does the Funds Transfer Scheme cover tuition fees?

No, the Funds Transfer Scheme only covers living expenses such as accommodation, food and transportation. Tuition fees must be paid separately to the education provider. Students may need to show proof of tuition payment during the visa process.

What happens if a student visa is refused?

If a visa application is rejected, students can request a refund of the transferred funds. After submitting the necessary documents, the funds are returned and the account is closed. This reduces financial risk for applicants.

Can students access remaining funds after completing studies?

Yes, students can withdraw any remaining funds after finishing their course or switching to another visa. Once the remaining balance is transferred, the account is closed.

Who manages the Funds Transfer Scheme in New Zealand?

The Funds Transfer Scheme is managed by Immigration New Zealand in partnership with ANZ Bank New Zealand Limited. The bank holds and distributes the funds while immigration authorities oversee compliance with visa requirements.

What are the benefits of the Funds Transfer Scheme for international students?

The scheme provides secure fund management and reduces documentation requirements. It also ensures students receive regular financial support and helps them manage expenses responsibly. This makes the student visa process more structured and reliable.