Wellington's ANZ customers are in for a treat with a fully sequinned ATM machine installed in Willis Street to celebrate diversity and inclusion.

Sedate inner-city banking has been transformed with ANZ unveiling four fabulous "GAYTMs" in Auckland and Wellington to celebrate diversity and inclusion for New Zealand's rainbow community.

Dripping with rhinestones, the customised cash machines were accompanied today by ANZ staff dressed as their drag queen alter-egos, a colourful scene that stopped passersby in their tracks.

"I think it's awesome," said one woman as she photographed the sparkling spectacle in Wellington's Willis St today.

The art installations celebrated the bank's partnership with Auckland's Pride Festival, which would run throughout this month, and Wellington's Out In The Park on February 14, and marked its accreditation into the Rainbow Tick programme.

The machines welcomed customers with rainbow-friendly messages on their screens and printed "out and proud" on receipts.

Proceeds from the use of non-ANZ customer cards at the GAYTMs would be donated to OUTline, a counselling service for people dealing with gender and sexuality issues. Kiwis could also win free tickets to the Sydney Mardi Gras by posting glamorous videos and photos to #GAYTMNZ as part of ANZ's social media campaign.

The bank copied the concept from ANZ in Australia, which introduced GAYTMs last year to celebrate Sydney Mardi Gras.

ANZ's chief financial officer, Antonia Watson, the executive sponsor of the bank's Pride Network, said it aimed to encourage staff to be themselves at work.

However, she said the move also made good business sense for the bank, "given the make-up of our staff and customers".

Rainbow Tick programme director Michael Stevens said the bank had also received a special commendation for its work with transgender staff.

ANZ computer programmer Conrad Johnston, who moonlighted today as the very flamboyant 'LaQuisha St Redfern' at Wellington's GAYTM, agreed that the fun campaign had a serious message.

He said the banking industry had been transformed in recent years in how those with different gender orientations were treated.

"I took my job at ANZ because I knew they were supportive."

ANZ's Wellington regional manager, Andrew Newbery, said the bank was eager to promote a culture that embraced diversity.

He was amazed to see the public's positive reaction to the sparkling machine in Willis St.

The four GAYTMs are at 312 Ponsonby Road, 122 Karangahape Road, and 45 Queen St in Auckland, and 22 Willis St in Wellington, throughout February.

Several big banks had come out recently as unlikely champions for greater acceptance of the rainbow community.

Westpac reportedly "soared" through the Rainbow Tick accreditation process last year.

Just last week, the bank released a survey which found only two thirds of people felt comfortable working with someone who was lesbian, gay, bisexual or transgender (LGBT).

Nearly one in three LGBT workers had been made to feel uncomfortable at work, compared to one in 10 of those outside the community.

Westpac's general manager retail bank, Ian Blair, said New Zealanders might believe they were open-minded and accepting, but their actions had not caught up.

"For example, some sayings and language that is used almost subconsciously is outdated in the 21st century," he said.

"Take the word gay which originates from homophobia and is still used to shame or describe something that is a bit lame – 'oh, that's gay'."

ASB, which was the first bank to earn the Rainbow Tick, has also taken a firm stand.

After Olympic swimming legend Ian Thorpe came out as gay, the bank added a specific diversity clause making it clear that sexuality, gender identity or ethnicity had no bearing on its sponsorship arrangements.

ASB chief executive Barbara Chapman said it needed to be explicitly put out there, and challenged other corporate sponsors to follow suit.

ASB sponsors the New Zealand Falcons gay rugby club, a decision which Chapman said had been supported by "99.9 per cent" of people she spoke with.

While a few had cautioned against it, both within the bank and outside, she had made the call anyway, she said.

The Ponsonby artwork was designed by Kiwi artist Reuben Paterson, who explained his unique creation in this video.