Special account for studying in New Zealand and its use method

It is essential to prove the funds for studying abroad, because it is related to a series of problems such as tuition and life of international students. Immigration New Zealand has opened a special account for international students.

? Why did Immigration New Zealand launch this new project?

? The purpose of launching a special account for studying in New Zealand is to facilitate China citizens who have studied in New Zealand for more than 12 months to apply for student visas. Following the introduction of the loan for studying abroad in 2005, the special account for studying abroad in New Zealand provides another way for China enterprises to prove their economic ability. The advantages of the new scheme are:

Parents are allowed to monitor their children's use of funds in New Zealand.

? More economical than the existing loan for studying abroad.

? It is easier than the existing way to prove economic strength-at present, it is necessary to submit a series of materials or choose a loan for studying abroad, and

? Help visa officers to assess students' financial ability to pay for studying in New Zealand more easily in their applications. Usually, students must submit a series of materials to prove their financial ability, and visa officers will carefully evaluate and verify the submitted materials.

How to use the special account for studying in New Zealand?

Student visa applicants will deposit their study fees into a special account in China. If the application is approved, part of the study abroad funds under this account will be remitted to New Zealand educational institutions as tuition fees and part as living expenses to a bank in New Zealand. Banks in New Zealand manage accounts through fixed monthly loans for students to pay their living expenses in New Zealand. The details of the new scheme will be further introduced below.

Who is eligible to apply for a special account for studying in New Zealand?

At present, applicants from Beijing, Chongqing, Liaoning, Hebei, Sichuan, Henan, Shaanxi, Hubei, Shanxi, Hunan, Shandong, Heilongjiang, Tianjin, Jilin and Yunnan who plan to study in New Zealand for more than 0/2 months can choose to use the special account for studying in New Zealand as proof of their financial ability.

Which immigration office accepts the special account for studying in New Zealand?

At present, only the Beijing office of the New Zealand Immigration Bureau accepts the special account for studying in New Zealand as proof of students' financial ability. After the implementation of the new plan for six months or twelve months, the Shanghai and Hong Kong offices will have the opportunity to choose to accept the plan.

Other New Zealand immigration offices can accept deposits from New Zealand banks as proof of living expenses.

Where can I apply for a special account for studying in New Zealand in China?

At present, the New Zealand Immigration Bureau only accepts special accounts for studying in New Zealand opened by CITIC Industrial Bank at various outlets in Beijing. We plan to extend this project to more provinces in China within one year.

Which bank in New Zealand can withdraw money?

At present, there is only ANZ Bank, and negotiations with other New Zealand banks are still in progress.

What is the minimum deposit and maximum remittance for the special account for studying in New Zealand?

Planning to study in New Zealand for one year requires at least 654.38 yuan +0.5 million yuan. If the annual remittance amount exceeds RMB150,000 yuan, the excess will be transferred from other accounts. The expenses for studying abroad are all submitted in the form of a special account for studying abroad, and no other bank materials are needed. Part of the cost of studying abroad is submitted in the form of a special account for studying abroad, and other financial materials still need to be submitted.

Can I earn interest on my deposit in CITIC Industrial Bank? How to calculate?

Yes, your deposit in the special account for studying in New Zealand of CITIC Industrial Bank will bear interest at the standard deposit rate.

How long do I need to deposit in this account?

It is equal to the planned time to study in New Zealand. This account is only used to pay tuition and living expenses, and is not used for any other purpose. It is not allowed to withdraw money from this account while studying in New Zealand.

How to apply for a special account for studying in New Zealand before arriving in New Zealand?

When you apply to open a special account for studying in New Zealand with CITIC Industrial Bank, you will also get an ANZ application form. Immigration New Zealand will assist you to inform ANZ to open a special account for studying in New Zealand. ANZ will contact you directly to confirm your account information.

If my student visa application is unsuccessful, can I withdraw my deposit from the special account for studying in New Zealand of CITIC Industrial Bank?

You can withdraw your deposit in the special account of CITIC Industrial Bank for studying in New Zealand with the letter of refusal or cancellation issued by the New Zealand Immigration Bureau.