This story was originally published in The Post. Janine Starks is the author of www.moneytips.nz and can be contacted at moneytips.nz@gmail.com.

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"The smile on my face could not be bigger. I’ve just downloaded the new Emerge app, a digital alternative to our big banks. I’ve opened two new "money accounts" and got a bright pink "Waiheke Rose" debit card. That will shine like a beacon when I’m fumbling around without glasses.

After giving it a road test, let me tell you why I like this new player in the market.

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On signing up, I was able to create a virtual and physical card for each account (Mastercard debit cards). I set the pin numbers, linked the cards to Apple Pay on my phone, moved $1000 from my ANZ account to the new Emerge account number, transferred $200 into an account I labelled “holidays” and immediately bought some Nespresso capsules online. Boom, done. Fast and efficient with lots of easy sliders to turn on/off contactless, online use, international use and ATM use on each card.

For those who like a web version – wow, the login is slick. There’s no customer number or long password. The website login has a QR code. It gives instructions to open the Emerge app on your phone and tap web-login. A camera within the app asks you to point it at the QR code on your laptop, tap “authorise” and your personal accounts appear on the web. Those who are hungry for an alternative to the big Austrailan-owned banks, digital providers like Emerge are promising. After 30 years in banking and finance, I felt like popping the fizz. Passwords are gone. This is history in the making.

Finally, Kiwi-owned competition has arrived. I’m a big believer in banking with at least two providers. Start small and get used to it. Emerge personal accounts only launched a week ago, but this isn’t a cold start. It has got 250,000 Kiwis using its Square-One App with debit cards for kids’ pocket money, as well as small business accounts. As a non-bank, we need to call its product a money account rather than a bank account. But reassuringly, the funds are held with an AA-rated New Zealand registered bank.

I got nicely sucked in by the lovely marketing, poring over the "Waiheke Rose" pink card for my primary account, "Keri Keri Citrus" for my holiday account, alongside "Piha Sands" and "Fiordland Mist" for my virtual cards.

Of course, to get approved I had to scan my passport and take a selfie. Some customers will find the cross-checking with official sources is almost instant, others might have to wait 30 minutes. I then needed to declare my income, its source, occupation and any student loans. Within five minutes of getting full access, I had two account numbers, physical cards were in the post and I could immediately use my “virtual” cards for online purchases. "Virtual" simply means a picture of a debit card sits inside the Emerge app on my phone. It’s not real plastic. It’s clever as the virtual cards have different card numbers and CVCs to the physical card. It’s wise to use them for online shopping, so if they have to be cancelled, your daily life doesn’t come to a screaming halt.

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Of course there are other options out there. Both Wise and Revolut offer digital accounts to Kiwis, but here’s why I believe Emerge has an edge on the others:

1. Confirmation of Payee: Emerge is on the cusp of being hooked up to the system which matches an account name and number, so you know exactly who you are paying. Both Wise and Revolut are not part of the "Verify Me" system. Only a few weeks ago a $30,000 fraud case crossed my desk with the criminal receiving money into a Wise account.‍
2. Deposit compensation scheme: This protects your money up to $100,000 if a bank fails. Emerge is part of this scheme because all money is held with an AA-rated New Zealand bank (ANZ). Wise and Revolut don’t have this protection.‍
3. Security is leading the way: It will soon be introducing a dynamic CVC on cards (the three digits on the back). Each time you shop online, you can open the app and get a new CVC (it’s not compulsory). If the retailer is hacked, your card details are useless. Emerge also refuses to use codes sent via a text message, to authorise online shopping. They’re insecure and customers are easily tricked into giving them out. Instead, you’ll open the app (which has face ID) and approve payments within the security of the app.
4. ‍Wide access to all New Zealanders: Being local, Emerge is focused on inclusion and providing a basic account for every Kiwi, whether you only have student ID or no ID at all. While that sounds odd, due to money laundering laws, it can be done by limiting the functions of accounts, enhanced transaction monitoring and expanding access based on behaviour.

Money accounts are the first cab off the rank for Emerge-Personal. In early 2026 international payments will be available and I hope we’ll see savings accounts, lending, sharemarket investments and insurance, as their wings spread."‍

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Janine Starks, November 8, 2025.