Summary: The Bank of New Zealand (BNZ Bank) does not allow the investing of stocks and ETFs directly on its banking platform. However, there are secure alternative ways to investing in stocks with a Bank of New Zealand account.
All you need to do is transfer funds from your Bank of New Zealand account to a secure brokerage platform. Once your funds have arrived, you can buy stocks directly through the broker. We suggest using the eToro exchange as it offers brokerage-free trading on stocks & ETFs.
Where to buy Stocks & ETFs with Bank of New Zealand
As BNZ bank does not offer stock-investing features on its platform, you will need to use an external broker to buy stocks & ETFs with a BNZ account. There are a few reputable brokerage platforms to choose from in NZ that allow bank transfers from BNZ bank accounts.
We recommend using eToro, it is a multi-asset investing and trading platform that offers investing opportunities in six asset classes. On eToro users can purchase stocks, ETFs, commodities, currencies, cryptocurrencies and indices. Additionally, it is the most secure investing platform in New Zealand.
How to buy Stocks with Bank of New Zealand
If you want to buy stocks and ETFs with a BNZ bank account, you have come to the right place. On eToro you can invest in stocks and ETFs with the funds in your Bank of New Zealand account through multiple methods including credit/debit card, bank transfer, PayPal, Skrill & Neteller. Follow the below steps to get started.
- Sign up to eToro and complete the onboarding process.
- Click 'Deposit Funds', select the method you want to transfer money with and deposit funds.
- Search for the stock you want to buy in the search bar and tap 'Trade'.
- Input the amount you want to spend and select 'Set Order'.
Is it expensive to invest in stocks?
It can be expensive to invest in stocks when you go through a traditional brokerage platform as they charge multiple fees like account management, ticketing, FX, brokerage and deposits. However, eToro offers free and instant deposits for BNZ account holders plus brokerage-free trading on stocks & ETFs.
In addition to zero commissions on stocks and ETFs, eToro does not charge any administrative or account fees. There is only one fee you need to consider which is the account inactivity fee (charged after 1 year of inactivity). For a full breakdown of eToros fees, you can visit the eToro Fees Schedule.
What is the Bank of New Zealand
Bank of New Zealand, commonly referred to as BNZ Bank, is a major banking institution in New Zealand. It is the country's second-largest bank by assets and has been operating since 1861. The bank offers a wide range of financial products and services to its customers, including personal banking, home loans, credit cards, business banking, and investment services.
BNZ Bank has a strong focus on customer service and provides 24/7 assistance through its call centre and online help desk. The bank also has a large branch network with over 100 branches located across New Zealand.