International money transfers NZ vary on the rates and fees you are charged. We help you find the best rates and lowest fees. Find the cheapest ways to transfer money overseas here. Transfer to UK, US, India, China & many more.
Transferring with your bank involves fees plus very poor exchange rates which is where the banks make most of their money not on the fees.
Check out our deals below:
International Money Transfer
One of the best value ways to transfer money to your bank abroad is by using one of the foreign exchange online companies.
Why use them?
- They often have NO FEES for foreign exchange transfers (make sure you transfer the minimum amount for no fees).
- Some banks charge up to $35 in transfer fees and give worse foreign exchange rates.
- Their exchange rates are far better than the banks after comparing foreign exchange rates and bank fees.
- Sending money overseas can be expensive if you are using the major banks.
For example foreign exchange transfer can be a difference of over 5%!
How does it work?
It works by signing up online free for their service.
Logging in, seeing what exchange rate they offer. If the rate suits, you click to exchange. If not you can set up an alert to email you when it reaches the rate you want.
They call you to confirm the transfer.
You enter your foreign bank details online so they know which bank account to send the money (Make sure you get this right!).
They give you the bank details for their account in Australia. Once they have received the money for the trade they deposit the money in your foreign account within the next few days.
Make sure the foreign exchange company is regulated.
So which foreign exchange company can I use?
Cheap International Money Transfers
Options for transferring over $10000 NZ Dollars
Has the one of the best rates available for foreign exchange in New Zealand. Much better than the banks with much lower charges too. Compare the rates from what you can get from your bank. They often beat the OZForex rates as well as they match buyers and sellers of currency together in a Marketplace to help find you the best rates.
Our team have used Currency Fair and found their rates are excellent, if not some of the best on the market. You can even suggest a exchange rate range that you want and wait for it to be matched to someone prepared to exchange at that rate.
Check out their rates above.
TransferWise uses a similar concept to Currency Fair. They bring people transferring money from different countries together. The bonus with TransferWise is that in select currencies you can use your Debit Card to transfer the money rather than having to pay into an account.
Check out their rates via the link
Best transferring between $2000-10000 NZ Dollars
Again some of the best exchange rates in Australia and only charge approx. $5 for an exchange!
You can find some of the cheapest deals here