Funds Transfer Scheme MoU

Details

Tender Closed
RFx ID :	31687159
Tender Name :	Funds Transfer Scheme MoU
Reference # :	71085
Open Date :	Tuesday, 17 June 2025 3:00 PM (Pacific/Auckland UTC+12:00)
Close Date  :	Monday, 7 July 2025 1:00 PM (Pacific/Auckland UTC+12:00)
Tender Type :	Registration of Interest (ROI)
Tender Coverage :	Sole Agency  [?]
Categories :	84000000 - Financial and Insurance Services
Regions:	New Zealand
Required Pre-qualifications :	None
Contact :	Karan Kumar commercialservices@mbie.govt.nz N/A
Alternate Physical Delivery Address  :
Alternate Physical Fax Number  :
Agency Address :	NEW ZEALAND

This Registration of Interest (ROI) aims to gather insights from participating banks to assess whether there is potential for expanding the market reach of the Fund Transfer Scheme (FTS) currently available to our international student visa applicants. By collecting relevant responses from financial institutions, we seek to evaluate the feasibility and operational considerations for broadening this service to additional banks and markets. The information provided will help inform strategic decisions regarding the enhancement of the FTS. Following this ROI, Immigration New Zealand (INZ) will assess any interested parties’ responses, and an opportunity to join the existing MoU for the FTS will be offered to those banks who can meet the requirements and accept the terms and conditions.

We are actively working to expand the network of partner banks that support our Funds Transfer Scheme (FTS), ensuring greater accessibility and convenience for international student visa applicants. By collaborating with additional financial institutions, we aim to streamline processes, offering students more flexible and efficient options to meet the FTS requirements.

Deadline for Questions from Respondents: 26 06 25
Deadline for Registrations: 1:00 PM 07 07 25

This tender has been completed.

Further information:
Following a multi-stage tender process comprising a Registration of Interest (ROI) and a Request for Proposal (RFP), the Ministry of Business, Innovation and Employment (MBIE), 15 Stout Street, Wellington, is pleased to advise that the following supplier has been awarded the Fund Transfer Scheme Memorandum of Understanding (MoU):

Supplier: Bank of New Zealand (BNZ)
Contract Arrangement: Memorandum of Understanding (MoU) for the Fund Transfer Scheme
Commencement Date: 25 August 2026
Term: The MoU commenced on 25 August 2026 and will remain in effect until terminated by either party in accordance with the terms of the agreement.

MBIE appreciates the interest shown by all respondents who participated in this procurement process.

Date RFx was completed/updated: Thursday, 3 September 2026 1:38 PM (Pacific/Auckland UTC+12:00)