New Zealand

New Zealand is an island country in the southwestern Pacific Ocean. The country geographically comprises two main landmasses, the North Island, and the South Island as well numerous smaller islands. New Zealand is situated 1500 km east of Australia across the Tasman Sea and about 1000 km south of the Pacific island areas of New Caledonia, Fiji, and Tonga.

Because of its remoteness, it was one of the last lands to be settled by humans. During its long isolation, New Zealand developed a distinctive biodiversity of animal, fungal and plant life. New Zealand’s culture is mainly derived from Māori and early British settlers, with recent broadening arising from increased immigration. New Zealand is a member of the United Nations, Commonwealth of Nations, and Asia-Pacific Economic Cooperation.

Primary Education

• Age 6 to 15 Years & Grade 1 to 9
• From age 6 to 16, education is both compulsory and free. In an unusual twist, people living over 5 kilometers from their nearest school may opt for distance learning. Most children enter primary school at age 5 where they remain for 6 years.

Middle Education

• Grade 10 to 13
• The primary education program merges into middle school in different ways. Children may remain on at their primary school for grades 7 and 8, or complete these 2 years at bridging intermediate school (stream “A”). Alternatively they may go directly on to junior secondary school where they spend 4 years (stream “B”).

Secondary Education

• Students who followed either version of stream “A” complete their last 5 years at secondary schools, while students of stream “B” spend their last 3 years at senior secondary school.

Vocational Education

• This includes Industrial Training programs; the actual training is increasingly being provided in the workplace. Outputs include both apprenticeships for youth, and re-training for adults of all ages.

Tertiary Education

• This includes study at Universities, Polytechnics and Institutes of Technology, Private Training Institutions and Industry Training Organizations. Study for either academic or more practically focused qualifications, gaining everything from entry-level certificates to diplomas, degrees and doctorates.

The ANZ Bank of New Zealand Limited (ANZ) offers a Funds Transfer Scheme (FTS) that allows students to transfer money from banks and financial institutions from India or Sri Lanka to an ANZ Bank Account in New Zealand. These funds are released periodically to support students while they are in New Zealand.

Students from India and Sri Lanka, who will be studying in New Zealand for a year or more, can use the FTS to show Immigration New Zealand that they meet the minimum funds requirement for Student Visa.

Minimum Funds Requirement

Immigration New Zealand requires students to have NZ$15,000 in addition to course fees for each year students will be studying in New Zealand. This money is to cover living costs of students while they are in New Zealand.

Students can use FTS to transfer NZ$ 15,000 to New Zealand and then access them while they are studying in New Zealand.

If students will be studying for more than a year, they can use FTS to transfer funds each year. Immigration New Zealand may ask students about the source of funds which they can use to transfer to FTS Account and to provide evidence for the same.

Accessing Funds to Cover Living Costs

Students can use the money available in their FTS Account with ANZ Bank to cover their Living Costs while studying in New Zealand. Students are allowed to withdraw NZ$1,250 each month from ANZ Bank Branches, ATMs, and use EFTPOS. Generally students open another Saving or Checking Account with ANZ Bank of any other Bank and link it with their FTS Account.

The money available in FTS Account will be locked for the period of study, and students will not be able to use it for any other reason.

Withdrawing Funds

Students can withdraw funds from FTS Account, other than to cover Living Costs, if:

• Student Visa Application is declined by Immigration New Zealand
• Students decides not to continue Study
• Students have completed their Study before time

Applying for an Account

To apply for an Account, simply contact ANZ Bank.
All deposit accounts earn interest. Rates are set by the bank and change often. Interest rates are available on ANZ Bank’s website.
Refer www.anz.co.nz/personal for more details.

Applying for Student Visa

• To use FTS to prove that you meet the funds requirements for Student Visa, student should mark the front page of Student Visa Application Form as FTS. Student can also explain the same in Covering Letter accompanying with Student Visa Application.
• If student meet all of the criteria for Student Visa, apart from the funds requirement, Immigration New Zealand will approve Student Visa Application in Principle and send a letter confirming Approval in Principle (AIP).
• Student can provide AIP letter to ANZ Bank together with completed ANZ Enquiry Form. ANZ Bank will then open a FTS Account. Student can then approach his / her bank or financial institution in India or Sri Lanka to transfer funds to FTS Account with ANZ Bank. The funds student transfer must be the same funds that he / she has provided as evidence in Student Visa Application.
• Once funds will arrive in FTS Account, ANZ Bank will send a letter confirming the transfer and account balance to student. Student needs to provide a copy of this letter to Immigration New Zealand within 10 days of receiving AIP.
• When student arrives in New Zealand, he / she needs to visit an ANZ Bank branch to activate FTS Account. Student can then start using his / her FTS Account to cover Living Costs while studying in New Zealand.