Optimising our flats finances

We’ve just had a new flat mate move in to our place and we want to get our finances sorted.

Were thinking about starting a new flat account with 3 people on it and 3 cards so we all have access and ideally we wouldn’t have to go in to a store to get it sorted! Probably want 2 accounts, one for rent and expenses, one for food? I’m already a BNZ customer but the TotalMoney account we’re currently using for the flat is attached to a home loan.

Does anyone have any ideas for the best set ups account-wise when we want all 3 of us to have access to the accounts with lowest possible fees?

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Hi Padwa, 
You could look at setting up a YouMoney transactional account.  This account would allow you to have all 3 of you on the account, so you are all able to have access through Internet Banking and EFTPOS.  This account you can open up to 25 accounts for $5 per month.  This covers all your EFTPOS transactions and Automatic Payments, Direct Debits and Bill Payments from the accounts.   AND if you open the account and choose to have online statements before the 20th of October, then we will waive the fee for life (and save some trees WOOHOO)!
Heres a link for the account on our website if you want to have a read up about it.


*20th of October 2014 :wink:

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You could also look at pooling your Flybuys to buy free flat essentials: https://www.flybuys.co.nz/flats/welcome