Find the Best Way to Send Money from New Zealand to Australia
Sending money to Australia from New Zealand can be easy if you use your local bank, but it could also be expensive. International money transfers can often come with hidden fees, exchange rates with hidden margins and bank charges.
Alternatively, you can head into a store to transfer your money in person using a service like Western Union or Moneygram. These services often offer a quick service, but may not be the cheapest way to send money to Australia.
Online money transfer services can offer the best of both worlds. They offer a low cost way to transfer your cash without having to leave your house. Here are some of the best money transfer services in both New Zealand and Australia:
Some of the best money transfer services to send money to Australia from New Zealand
Popular with expats based in Australia, TorFX have a local office with excellent over the phone service and give better exchange rates for larger amounts.
In addition, they don't charge a flat transfer fee. TorFX was founded in 2004 and is a British company that has offices worldwide.
How much does it cost to transfer a large amount of money with TorFX?
Transfer Fee: Fee free transfers
Exchange Rate: TorFX offer competitive exchange rates when transferring large amounts overseas. To obtain a quote you need to sign up first.
How long does it take?
Your recipient will get the money in their local bank account within 2-5 business days.
Is TorFX safe?
Yes they are. Read our full review of TorFX.
- Very competitive rates, especially when you're transferring large sums of money
- Assigned a dedicated account manager
- Support for both individuals and businesses
- Excellent customer support available via phone and email
How to transfer money with TorFX?
- Register your details through the TorFX website. Choose the type of account you need, your details and the currencies you'll transfer.
- Once you have a quote for your transfer, fill in the recipients details. If you're sending money overseas to your own international account, fill in your own details.
- Pay TorFX via bank transfer.
- Learn more about how to transfer money with TorFX in this step-by-step guide
Wise (formerly known as TransferWise)
It's incredibly easy to set up an account or make a transfer using their app. They also have the best exchange rates, because they offer the same market rate you see on XE or Google and don't add any hidden exchange rate mark ups.
One of the best products they offer is their Borderless account. It's particularly useful if you are living overseas and want to transfer money back to Australia.
How much does it cost?
Transfer Fee: To convert New Zealand Dollars (NZD) into Australia dollars (AUD), Wise charge a flat fee of 2.03 NZD + 0.49% of the amount that's being converted. For transfers over 200,000 NZD it's a flat fee of 2.03 NZD + 0.39% of the amount.
Exchange Rate: Wise gives you the best possible rate (google rate). They do not use a margin.
Payment methods: Bank transfer, debit card and credit card.
How long does it take?
If you are transferring money between your own Wise accounts, it's instant. If you are sending it to a local Australian bank account it's usually done by the next business day.
Is Wise safe?
They are very safe. Click here to see our full review of Wise.
- Quick online set-up
- Transparent fees and offer the best rates online
- Very fast transfers to a bank account
- Simple cell phone app
How to transfer money with Wise
- Create an online account and login.
- Tap in how much and where to. Enter your recipients details.
- Make a local payment to Wise, using a bank transfer or your debit or credit card.
- Learn more about how to transfer money with Wise in this step-by-step guide
OFX (formerly Ozforex) was founded in Australia and has grown into a well-respected global company. With headquarters in Sydney, it has a good track record for security.
They are a good option for Australians who don't mind transacting online, but still want local customer support over the phone.
How much does it cost?
Transfer Fee: OFX usually charge a flat fee for smaller amounts, but if you click on the link below, your transfers will be fee free.
Exchange Rate: OFX add a margin to the exchange rate when you convert your Australian dollars.
Minimum Transfer Amount: AUD$250
How long does it take?
Your recipient will get the money in Australian Dollars (AUD) into their account in 1-2 business days.
Is OFX safe?
Yes they are. See our full review of OFX for more information.
- Good exchange rates and lock-in rate for larger amounts
- Local phone support
- Mobile phone app
How to transfer money with OFX
- Create a free online account and login to get a live quote for your transfer.
- Enter your recipients details including bank account, financial institution number, account number and branch transit number.
- 'Finalise transaction' and pay using a bank or wire transfer.
- Learn more about how to transfer money with OFX in this step-by-step guide
XE Money Transfers
As a trusted and seasoned name in foreign exchange, XE could be a good option for online users who aren't under time pressure. They don't charge fixed fees and don't have any minimum amounts so are good for any sized transaction.
How much does it cost?
Transfer Fee: Free, but there can be hidden charges at the local bank.
Exchange Rate: The exchange rate you receive, when you convert your Australian dollars, will depend on the amount of your transfer.
How long does it take?
Your recipient will get the money their account in 2-3 business days.
Is XE safe?
Yes they are. They are licensed as a Money Transmitter by the DFS in New York and registered with FINTRAC.
- No fees or minimum amounts for money transfers
- Better exchange rates for larger amounts
- Well known and trusted brand
- Business and individual support, plus accessible customer service
How to transfer money with XE
- Set up account online or over the phone.
- Tap in how much, where to and which currency.
- Pay XE and they will transfer the funds to your recipients bank account.
- Learn more about how to transfer money with XE in this step-by-step guide
For help from XE click here or call (02) 8270 4500 from within Australia
Citibank, HSBC and ANZ
CitiBank has the lowest transaction fees if you want to make a transfer through a bank. The Citibank Plus transaction account is an everyday bank account that doesn't charge for large international transactions. Citibank Global Transfers which are transfers between Citi accounts are not only fee free, but instant. Citi Global Currency account will let you hold 10 currencies and no fees to send money (however there can be receiving fees from different banks).
HSBC Premier customers can make instant transfers across your HSBC accounts with no transfer fees. You can send up to $200,000 per day. HSBC also has an Everyday Global account and Foreign Currency Flexi Saver where you can hold up to 10 currencies in the one account.
ANZ generally offers the most competitive exchange rates across the banks. Find out more about how to receive large sums of money from overseas to your ANZ account. The benefits of sending large sums of money through ANZ include:
- Convenience - especially if you already have an ANZ bank account
- It’s a relatively simple and straightforward process
- You can make transfers online
- You’re protected by the ANZ Fraud money back guarantee
- You can get access to the ANZ Shield app
- You're able to send money to over 90 countries around the world
- Funds are sent through the worldwide bank network and are protected by a “two factor authentication” system
How do I transfer money from New Zealand to Australia?
Send money from your bank account to another bank account in Australia using these steps:
- Login to internet banking or head into a branch.
- Go to the international money transfers section.
- Enter the amount and currency of your transfer.
- Enter the recipient’s bank details.
- Confirm all the details, fees, amounts and reference before finalising the transaction.
If you don't want to use your bank, compare money transfer services, set up and account and follow the same steps 2 through 5.
How much money can I bring to Australia?
Surprisingly, you can bring an unlimited amount of money with you to Australia. However, you must declare your Australian dollars or foreign currency cash if you're carrying over A$10,000.
You won’t be charged any fees for carrying or declaring physical currency. The Australian Transaction Reports and Analysis Centre (AUSTRAC) only collects the data to help prevent money laundering or terrorism. Here are some important details:
- If you're receiving over AUD $10,000, it's mandatory for you to fill in a declaration form for AUSTRAC
- If you're receiving money through a bank or money transfer company you don't have to declare it directly to AUSTRAC
What information do I need to send money to an Australian bank account from New Zealand?
- Your personal information: Your full name, address, date of birth and valid I.D.
- Australian bank account details: The full name on the account, banks name and branch address. You will also need a 6-digit BSB number and a 5-9 digit bank account number.
- The BSB number (bank/state/branch code) is in this format: AAB-CCC
- The first 2 digits (AA) is the bank code, the third digit (B) is the state in Australia the branch is located and the final 3 digits (CCC) represents the address of the branch.
- Alternatively, you might be asked for the banks Swift code or BIC code.
- How you wish to pay: Your bank details, account numbers and address or debit/credit card details to pay for your transfer.
Your bank or money transfer company may request more information about your international money transfer to meet anti-laundering regulations or internal security policies.
Here is a summary of details required for Australia's 4 major banks:
|Bank Name||SWIFT / BIC Code||Branch Address Locator|
|Commonwealth Bank of Australia||CTBAAU2S||CBA Branch|
|Westpac Bank||WPACAU2S||Westpac Branch|
|ANZ Bank New Zealand Limited||ANZBNZ22||ANZ Branch|
|National Australia Bank||NATAAU3303M||NAB Branch|
Find out the SWIFT or BIC code for your bank with a useful bank code finder.
Are there any limits for foreign currency transfers to Australia?
There is no limit on how much foreign currency you can transfer to Australia or receive in Australia if you live here. However, some online international money transfer services have minimum or maximum transfer limits.
Can I send cash to Australia?
Yes. If you want to send cash directly to a person or account, rather than pay money into their bank account or mobile phone, you have two options — Western Union or MoneyGram. Both are expensive, but on the plus-side, usually the cash is available instantly.
You can arrange someone to physically collect cash in Australia at a store, agent or third-party outlet. The person in Australia will need a payment reference number and personal identification like your birth certificate, driver's licence or passport.
In Australia, Western Union has the largest network for receiving cash via Australia Post. However, it is also expensive. MoneyGram is our least favourite. MoneyGram charge a variable transfer fee so your fee changes every time you send cash and is only available in 7-eleven stores.
How long does it take to transfer money to Australia?
There is no 'standard' time for transferring money to Australia from New Zealand. It really comes down which bank or service you use. In some cases, banks can be quicker because they simply take the Australian dollars out of your account and can send the money overseas on the same day. For more information about how long it takes to transfer money internationally, click here.
Send money to and from Australia with these guides
Your currency knowledge centre
5 Cheaper Ways to Transfer Money Overseas
Using a bank is one of the easiest ways of transferring money overseas, but can also be the most costly. There are alternatives that can make the whole process cheaper.
International Money Transfer Comparison and Reviews
Find the best international money transfer exchange rates to send money overseas from Australia. Compare the rates and fees from leading banks and money transfer services.
The Best Ways of Transferring Money Back to Australia
Transferring money overseas to an Australian bank account is simple once you know how to do it, but you might be short on time to figure it out.