If you are tourist intending to visit Port Moresby, or other parts of the Papua New Guinea (PNG), accessing and using money through the local PNG Banks, the information provided here will be very useful to you. Also, for those who are thinking of visiting friends and families in Port Moresby or Papua New Guinea (PNG).
First Commercials Bank in Papua New Guinea.
Papua New Guinea was colonized by Britain and Australia in the colonial days and eventually become a Independent State in September 16th 1975. As such it’s local banking roots goes to Australian Banks. The first bank commercial bank was setup in Port Moresby, Douglas Street by Messers Pikering and Sefton on May 10th 1910. It was a branch of the Bank of New South Wales. Bank of New South Wales was established in Australia in 1917 and Port Moresby was the administrative center of Papua (Southern Part of PNG) which was a British Protectorate, administered by Australia. Later, when Bank of New South Wales merged with Commercial Bank of Australia in 1982 and formed what is now know as Westpac Banking Corporation in Australia. Westpac continues to operate in Port Moresby and in Papua New Guinea. The first Branch in Douglas Street, Port Moresby still operates today. In 2010, Westpac celebrated 100th years of operation (centenary celebrations).
Map of Douglas Street
That same year ANZ Bank (Australia and New Zealand Banking Group Limited) opened it’s shop in Port Moresby. ANZ has it’s history back to 1817 when a young Scottish entrepreneur George Kennear established the Bank of Australasia. It later merged with Union Bank of Australia in 1951. Then again in 1970 merged with English, Scottish and Australia bank to form the Australia and New Zealand Banking Group Limited).
Local Banks in PNG
ANZ and Westpac are still operating in PNG and later joined by Bank South Pacific and Kina Bank. So in total there are four (4) banks operating in the country.
ANZ Bank (As Investment Bank).
It’s retail, commercial, and SME Banking services sold to Kina in 2019. Now, it’s serves only institutions and business corporations.
Local Bank Branches and ATM Machines in Port Moresby and PNG towns.
Local Bank Branches.
Westpac, Kina Bank and BSP have branches in Port Moresby. In terms of Branches and ATM networks in the country, BSP is the biggest. BSP has several branches in Port Moresby and in all major provincial centers around the country in the 22 provinces. In districts where, BSP also has sub-branches and agents (local partner organizations) to provide basic banking services like deposit, withdraw, enquiries and etc at the rural district townships as well.
Branches in Port Moresby are open from 8:00 am to 3:00 pm. So if you are tourist or foreigner, the customer banking queue can take longer than expected so accommodate few hours more than the time you to spend for banking in any time. Locals are used to the long queue.
Official language of business is English so foreigners who can speak English can communicate with banking staff. For those who don’t speak English, you will have difficulty getting a translator for assistance. Most of the bank branches in Port Moresby don’t provide translation assistance if required.
Access to ATM Banking Machines in Port Moresby
All the three major banks (excluding ANZ) provide ATM Machines inside their branches, major shopping centers, hotels, health facilities and at Pacific Adventist University (BSP ATM only) and the University of Papua New Guinea (Kina and BSP ATMs).
International bank cards like VISA, Dinners Club etc can be accepted by the ATMS. The logos of the international bank cards accepted are usually shown on the ATM machines for references.
Internet Banking.
All the banks offer internet banking to customers. Customers who have accounts with any of the local banks can sign up for their Internet Banking Services.
No toilet facilities inside Banks in Port Moresby
One big issue is that there are no public toilets inside the banks like in other cities. So of you want to use the toilet facilities while doing your banking, then you have to ask the security officers at the banks, who might then ask staff to access their toilet facilities. There are no visible toilet rooms inside the banks or in the city. So, the alternative option is to go to a restaurant, hotel or shopping center that is close by. Most restaurants and hotels have toilet facilities for customers. Range View Shopping Centre and Vision City Shopping Mall do have public toilet facilities.
Public toilet system in the city is something the National Capital District Commission (city Municipal Authority) needs to improve. So, when moving around the public places, like banks, shopping malls, restaurants, etc you won’t see visible signs for public toilet facilities. So if you need to use toilet facilities, always ask the local security officers which you will find in almost all organizations.
Just bear in mind that it is culturally insensitive to ask a opposite gender to ask to use the toilet, especially in public places. In restaurants and hotels, you can ask anyone.
Bank EFTPOS Devices
Most of the shops, hotels, restaurants, convenient stores at fuel stations and etc use Bank EFTPOS devices. Smaller shops and local market stalls may not use EFTPOS devices and accept only cash.
Public buses don’t have ticketing system as well as the taxies. They only accept cash payments.
So, it’s good to some cash in the local currency (Kina) when you are out shopping or visiting places.
