Find the Best Way to Transfer Money to New Zealand
When transferring money to New Zealand from Australia there are lots different companies. How do you quickly check all the companies and their exchange rates? Easy. With our comparison table, it will show you the cheapest money transfer option when sending money to New Zealand from Australia.
We will also share with you:
- How to transfer money to New Zealand
- What are the costs to transfer money to New Zealand
- Information needed to make the money transfer to New Zealand
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How to transfer money to New Zealand from Australia
While each bank and money transfer service is different, you will always need to follow these steps to transfer your money safely and quickly:
- Setting up an account usually takes 10 minutes and make sure you have some I.D. on hand
- Enter the bank details of the person or company you are sending the money to
- Pay for your transfer using a credit card or debit card, bank transfer or wire transfer
Now that you know how to transfer money to the New Zealand, you can compare your options. We understand, this isn't easy.
Every bank and money transfer company offer different exchange rates and transfer fees depending on how much you want to send.
That's why using our table compares the total cost of the transfer, based off the amount of your transfer.
How much will it cost to make my international money transfer?
There are 3 fees you'll usually be charged for your money transfer abroad:
- Exchange rates - The better the exchange rate, the more money you get in the bank account in New Zealand. Money transfer services that offer better exchange rates will usually charge you a separate transfer fee.
- Transfer fees - These can range anywhere between $0 to $5. Some online transfer companies offer fee-free transfers for sending large amounts of money. These companies usually charge a slightly worse margin on their exchange rate, but are still better than bank fees.
- Hidden fees - You or the person you're sending money too will often get charged a bank receiving fee or banks intermediary fee of approximately $25 each.
What information do you need to transfer money internationally?
You usually need to provide the following information to your bank or money transfer service:
- Your personal information: Your full name, address and date of birth. For security reasons they need your photo id scanned or photographed. You can use your mobile phone to take a photo and send.
- How you wish to pay: Your bank details, account numbers and address or debit/credit card details.
- The full name and address of the person you wish to pay.
- New Zealand bank account details, the name on the account and the BSB (bank-state-branch) number or national clearing code.
- Make sure your photo is of a high quality so they can see the picture
- Make sure your personal id is valid and within the expiry date
- You can't give your work/office address or PO box address
Keeping your money safe
One of the main questions people ask us is “will my money be safe online?" The answer is yes.
We've made sure that all the money transfer services and banks you compare are safe. Each company is :
- Is regulated in Australia (AUSTRAC in Australia) and New Zealand
- Holds an appropriate financial services license - with ASIC in Australia
- Have strict privacy and verification policies - this is to ensure they fully identify all of their customers. They invest in identity protection, fraud prevention and encryption to create a secure connection with your browser when you register and login into their online services.
Frequently Asked Questions about Sending Money to New Zealand from Australia
How can I pay for my money transfer to New Zealand?
Depending on your provider, there are several different ways to pay for your currency exchange. Many providers accept direct bank transfers, wire transfers, or debit cards or credit card payments. They may charge a small additional fee, depending on how you decide to pay.
How long does it take to send money to New Zealand?
It depends on the provider you choose, how you pay for the transfer and how the recipient wants to get the New Zealand dollars. Most international transfers to New Zealand via a money transfer service will take 0 to 2 days.
How does The Currency Shop make money?
The Currency Shop does not charge you. Instead, we receive a referral fee from the banks and money transfer companies that we are partnered with. This does not affect the price you pay.
Is it safe to use The Currency Shop to compare?
Yes. The Currency Shop holds an Australian Financial Services Licence (ASIC) (462269) and is a member of the Financial Ombudsman Service. We closely vet our providers and only partner with the largest, safest and most trusted money transfer companies in the world. That just makes sense.
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