What is FTS? New Zealand’s Fund Transfer Scheme Explained for International Students
The Funds Transfer Scheme (FTS) is an Immigration New Zealand (INZ) initiative, operated by ANZ Bank New Zealand, that requires international students from selected countries to transfer their living expenses into a dedicated ANZ bank account before their student visa is finalised.
Students must transfer a minimum of NZ$20,000 per year for living expenses separate from tuition fees, which is then released at NZ$1,666 per month to cover living costs while studying in New Zealand.
Why Is the FTS Update Important for International Students in 2026?
Starting April 2026, Immigration New Zealand has officially expanded the Funds Transfer Scheme (FTS) to more international students worldwide. Previously limited to a few countries, this program now provides a standardised, secure way for all eligible international students to demonstrate access to funds.
Imagine this: You’ve been accepted into a top university in Auckland, Wellington, or Christchurch. Your Approval in Principle (AIP) has been issued by Immigration New Zealand, but your visa is not yet finalised. Immigration New Zealand requires verified, bank-confirmed proof that you have sufficient funds to support yourself while studying. That’s exactly what the Funds Transfer Scheme (FTS) is designed to achieve.
At Professional Education Consultancy (PEC), established in 1994 and trusted by over 20,000+ international students across Australia, the UK, the USA, Canada, Thailand, and New Zealand, we guide students through the NZ FTS process step by step.
What is the FTS (Funds Transfer Scheme) in New Zealand?
The NZ Funds Transfer Scheme (FTS) is an Immigration New Zealand initiative operated by ANZ Bank New Zealand Limited. Its purpose is to provide direct, bank-verified evidence that an international student has genuine access to funds for living expenses while studying.
How does FTS work?
Instead of submitting multiple bank statements and documents, students:
- Open a dedicated ANZ bank account before arriving in New Zealand
- Deposit their required annual living expenses
- Have ANZ directly confirm receipt of funds to INZ, streamlining visa processing
Two accounts are opened with ANZ Bank New Zealand under FTS:
FTS Savings Account – Deposits the full annual living expenses upfront; funds remain locked until arrival and activation in New Zealand.
FTS Everyday Account – ANZ transfers a fixed monthly amount (NZ$1,666) from the savings account after activation to cover ongoing living expenses.
Is FTS Mandatory for a New Zealand Student Visa?
FTS is not automatically required for every student. Immigration New Zealand will notify you if FTS is needed as part of your visa application. Typically, FTS is requested when INZ requires bank-verified proof of genuine access to funds.
Note: Opening an FTS account does not guarantee visa approval. It is one requirement in the broader visa assessment process.
New Zealand Student Visa Update: FTS Now for Global Students
Effective April 2026, FTS is available for international students worldwide, providing:
- A structured and transparent pathway to verify your living expenses
- A streamlined visa process, as ANZ directly notifies INZ of fund receipt
- Elimination of complex bank statements for proof of living expenses
- Financial discipline – NZ$1,666 released monthly prevents overspending early in your studies
Student Fund Requirements for a New Zealand Student Visa
For global students using FTS, key financial requirements include:
| Requirement | Amount | Notes |
| Minimum annual living expense (FTS deposit) | NZ$20,000 | Living costs are only tuition, which is separate |
| Monthly automatic release after activation | NZ$1,666 per month | Transferred from savings to the everyday account |
| Tuition / Course Fees | Paid separately to the institution | Not included in FTS transfer |
| Study duration per FTS deposit | 1 year | Repeat the process for additional years |
Important: NZ$20,000 covers living costs, accommodation, food, transport, and utilities. Tuition fees must be paid separately and directly to your New Zealand institution.
How to Open an FTS Account: The Complete 7-Step Process
- Receive Your AIP (Approval in Principle) from INZ
Conditional visa approval is granted once the basic criteria are met. This triggers your eligibility for FTS. - Complete the Online ANZ FTS Application Form
Visit ANZ Bank New Zealand’s website and submit your application personally; it cannot be submitted by agents or family. - Receive Response from ANZ Within 3 Working Days
ANZ will confirm the account opening or request additional documentation. - Transfer Your Living Expenses to the ANZ FTS Account
Deposit your full annual living expenses (minimum NZ$20,000) from your home country bank. - Email ANZ to Confirm Transfer
Send a confirmation email to trigger ANZ’s formal verification process. - ANZ Notifies INZ of Fund Receipt
ANZ emails confirmation directly to Immigration New Zealand, typically within 24 hours on business days. - Arrive in New Zealand and Activate Your ANZ FTS Account
Visit any ANZ branch to activate both savings and everyday accounts. Automatic monthly payments of NZ$1,666 begin once activated.
Documents Required to Open an ANZ FTS Account
- AIP letter from Immigration New Zealand
- Valid passport
- Completed ANZ FTS application form (filled personally)
- Details of the funds being transferred must match the visa application
PEC Pro Tip: Prepare your funds documentation as soon as you receive your university offer letter to avoid delays.
Changes to New Zealand’s Funds Transfer Scheme (FTS) in 2026
FTS has previously been available to students from select countries. In 2026, FTS is expanded to include global applicants, reflecting INZ’s commitment to a transparent and standardized visa process.
Key updates:
- Minimum living expense deposit: NZ$20,000/year
- Monthly release: NZ$1,666
- Fully online application process
- ANZ notifies INZ within 24 hours of fund confirmation
What Happens to Your Student Visa Funds?
If Your Visa Is Approved: Funds remain locked until account activation; monthly NZ$1,666 is released automatically.
If Your Visa Is Declined: Provide the INZ rejection letter to ANZ for a full refund; funds are fully protected.
If You Stop Studying: Notify ANZ and INZ to arrange the remaining funds transfer and account closure.
If You Complete Studies With Remaining Funds: Withdraw the remaining balance with proof of completion or visa update.
If You Face Financial Hardship: Submit formal requests to INZ to access additional funds beyond the monthly release.
How to Fund Your Studies in New Zealand: 3 Options
- Funds Transfer Scheme (FTS) – ANZ Bank NZ
INZ-approved method providing verified proof of funds; faster visa processing; mandatory if requested by INZ. - Bank Statements / Proof of Funds
Alternative showing living expense funds; may require detailed source-of-funds documentation. - Scholarships & Grants
Fully or partially cover tuition and living expenses; PEC helps identify and apply for scholarships.
Real Example: Global Student Using NZ FTS
Student Scenario – Global
Alex receives an offer from a university in Auckland. INZ issues an AIP letter and requests FTS for fund verification.
- Completes the ANZ FTS application online
- Transfers NZ$20,000 from the home country bank
- Emails ANZ confirmation
- ANZ notifies INZ within 24 hours
- Visa approved; Alex activates accounts in NZ and receives monthly NZ$1,666
Key takeaway: The entire process can be completed remotely, globally, before arriving in New Zealand.
Why Choose PEC for Your NZ Student Visa & FTS Process?
Professional Education Consultancy (PEC) Established in 1994, trusted by 20,000+ international students globally.
Services include:
- NZ Student Visa Processing
- FTS Guidance & Support
- University Admissions
- IELTS / PTE Coaching
- Scholarship Guidance
- Career Counselling
PEC Stats:
- 30+ Years Experience
- 98% Visa Success Rate
- 20,000+ Students Placed
Book a free counselling session
Frequently Asked Questions (FAQs)
1. What is the Funds Transfer Scheme (FTS) in New Zealand?
FTS is a system where international students transfer their living expenses into an approved bank account after receiving Approval in Principle (AIP). Immigration New Zealand then receives confirmation directly, reducing visa fraud and speeding up approval.
2. Is FTS mandatory for all international students?
FTS is required for eligible applicants after receiving AIP. While some visa categories may allow alternative verification, most students should expect to follow the FTS process.
3. How much money is required under the FTS scheme?
Students generally need to transfer around NZD 20,000 per year for living expenses, separate from tuition fees ranging from NZD 20,000 to NZD 35,000 per year, depending on the institution.
4. How long does the FTS process take?
The FTS process typically takes 1–3 weeks after AIP approval. ANZ responds within 3 working days, and Immigration New Zealand is notified once the transfer is completed.
5. Can I use a loan for FTS in New Zealand?
Yes, students can use approved education loans to fund their FTS account. The funds must be transferred into the designated bank account to meet Immigration New Zealand’s requirements.
6. What happens if I don’t follow the FTS process?
Failure to comply may lead to visa delays or rejection. Immigration New Zealand may not accept traditional proof of funds if FTS is required, making adherence essential.
Start Your New Zealand Study Journey With PEC Today
FTS provides a structured, transparent, and globally accessible method for students to meet NZ visa financial requirements. PEC guides you through every step from university selection to ANZ account activation on arrival in New Zealand.
Visit PEC offices or explore our services at professional.edu.np to start your free counselling session.
