Westpac will relocate approximately 250 staff from Wellington to the bank's headquarters in Auckland.
The move mainly affects those in information technology, with staff being given 12 months' notice to consider their options.
Those affected have been invited to retain their current position in Auckland, and be reimbursed for their relocation costs, but also have the option of taking redundancy.
Westpac said there will be no overall reduction in roles.
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Westpac said moving the roles to Auckland would unify its technology, product and marketing hub in one location, a decision arisen out of a new opportunity to acquire more floor space at the bank's headquarters in the Britomart precinct.
Karen Silk, Westpac NZ Experience Hub general manager, said the current arrangement had worked well, but the chance to centralise teams in Auckland offered a fresh opportunity.
"Our team based in Wellington has produced some exceptional results with their colleagues in Auckland. However, we think collaboration and teamwork can be taken to the next level if we take the opportunity to bring all of our people under one roof.
"This will benefit our customers through the faster and more efficient delivery of new products and services."
Westpac said the changes do not affect any bank branches or branch employees.
Tali Williams, FIRST Union secretary for retail, finance and commerce, said no FIRST members were affected by the restructure.