Opening a bank account in the Cook Islands

Julien · 2011-09-28T09:43:18+02:00

Discover insights on opening a bank account in the Cook Islands as an expat. Learn about required documents, timelines, restrictions, and bank recommendations.

Julien Founder

Member since 11 March 2005

17 years of happy life abroad

JulienFounder28 September 2011 07:43:18

53040

Hi all,

is it difficult for expats to open a bank account in the Cook Islands ?

Which documents are required to open a bank account in the Cook Islands ?

How long does it take to open it ?

Is there any restriction for expats regarding the services (loans for instance)聽 ?

Which bank would you recommend ?

Thanks in advance for your participation,

Julien

Harmonie ViP

Member since 13 June 2011

HarmonieViP15 November 2011 12:56:37

19273

Thanks for the tips dieselcop!

Harmonie.

dlschulz Member

Member since 20 October 2013

dlschulzMember20 October 2013 00:26:04

Where are the answers to this question - Opening a bank account in the Cook Islands?

lorreta Member

Member since 10 June 2014

lorretaMember10 June 2014 14:35:39

which documents ase required to open a bank account in the cook island?

stumpy Laos Expert

Member since 27 November 2009

stumpyLaos Expert10 June 2014 23:58:32

18024

lorreta wrote:
which documents ase required to open a bank account in the cook island?

Hi and welcome to 禁漫天堂.

Perhaps you could contact banks in the Cook Islands for the information you are seeking.

magnus Contributor

Member since 07 October 2009

magnusContributor13 July 2014 21:26:29

112

There are basicly 3 banks on Cook Islands.
There are also a bunch of off-shore investment fund companies.

The banks.

Getting loans..... I would not like to do that. Interest rates are to say the least.... staggering.
Today 2014-07-13 I notice BCI intersts are:
Home Loan 8,99%
Business loan 8,20%
And the term deposit rate is 4,40%.

Banks are
Bank of Cook Islands
ANZ
Westpac

Tikkakhan Guest

TikkakhanGuest06 September 2014 15:35:18

nice information

Tikkakhan Guest

TikkakhanGuest06 September 2014 15:43:27

Term deposits are in which currency NZD or AUD? Both currencies are bad for forex players right now. Term deposits would not help if accounts are in NZD or AUD

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magnus Contributor

Member since 07 October 2009

magnusContributor15 October 2014 16:03:42

112

All deposits are in NZ dollars.
Doing business by Forex is always bad anyhow. Forex is good for the tourist traveler that goes to the sun ones a year but it is much less loss to transfer the money between banks directly.