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How does this work?

  • Step 1
    Tell us the currency you will be sending and the currency you need it converted into.
  • Step 2
    We’ll compare the rates and fees from our trusted partners, and highlight your options in a personalised side-by-side comparison.
  • Step 3
    When you have made your decision, click the link to the money exchange providers site and make your purchase. We don’t add costs, or charge markups so you get the best deal possible.
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We compare the world’s most trusted brands

2019 Best Online International Money Transfer Services in NZ

Want more information about the best international money transfer services, but don't know where to start?

Don't worry, after reviewing over 30 banks and money transfer companies, we compiled our list of the cheapest, easiest and safest online money transfer providers for you:


1. Sending Money Regularly: WorldRemit

2. Small Transfer Amounts: TransferWise

3. Larger Amounts: XE

4. Business Money Transfers: OFX

Regular transfers to friends & family

WorldRemit specialises in smaller, regular transfers known as remittances. Because of this, they're tailored to personal and individual transfers to family and friends.

We particularly like them for transfers to Asia (China), Africa and South America for small transfer amounts up to NZ$10,000.

WorldRemit exchange rates are usually better than your local bank's. They also offer more flexible delivery options like cash transfers and mobile airtime, compared to companies like PayPal, Western Union or MoneyGram.

  • Offers cash pick-up, bank deposits, Mobile Money and Airtime top-up
  • Easy online platform and mobile phone app
  • Transparent costs with accurate calculator tool
  • WorldRemit has competitive exchange rates
  • No minimum transfer amount
  • 24/7 customer support available
  • Maximum transfer size of NZ$50,000 for POLI; and NZ$6,000 for card payments
  • Transfer fee is not fixed for different currencies
  • Don't offer support for New Zealand businesses
  • Unable to offer financial advice
  • Not all transfer methods are available in all countries. For example cash pick-up in India

Cheapest for smaller amounts

Wise are great if you want a fast, hassle-free, low cost way to send smaller amounts money overseas. They are also perfect for expats, sending money back home or receiving money from overseas.

Wise offer a quick, easy to use online service and mobile app. They also offer you the best exchange rates — identical to the market rate (also know as the interbank rate) that you see on Google or XE.

They charge a small, percentage-based currency exchange service fee. A percentage-based fee is ideal for sending or receiving up to NZ$40,000.

  • It’s very fast and easy to create an account
  • They offer the best exchange rates available
  • Their service charge is low, no hidden fees and pricing is easy to understand
  • You can pay via bank transfer, credit or debit card
  • There’s no minimum transfer size
  • Can't pay for your transfer via cash or cheque
  • There’s limited customer support
  • If you’re transferring more than $10,000, their percentage fee can make them less competitive than other services
  • They don’t support all global currencies

Trusted for larger transfers

The overall XE business has been around since 1993, so they know a thing or two about sending larger amounts of money over NZ$10,000, safely.

With competitive rates and no fees, there is a lot to like about XE. And if you haven't made a transfer before, you might especially like that they are an established and trusted currency brand.

XE also have customer support who can assist you if you don't want to do everything regarding your transfer online or even if you just have some questions.

  • XE are a worldwide, trusted authority for currency exchange
  • They don’t charge any fees for sending money overseas
  • There’s no minimum transfer amount
  • It’s easy to get in touch with and use their customer service
  • Their website is quick and easy to use
  • You can’t pay for your transfer using cash or a cheque
  • There’s limited customer support over the weekend
  • Exchange rates may not be as competitive as others in this space
  • They don’t support all global currencies

Best fee-free for businesses

For over 18 years OFX has been supporting New Zealand businesses. With an entirely online platform, OFX has helped businesses transfer money between over 197 countries globally.

They are particularly good at reducing the cost of FX international payments for businesses. This is because for larger amounts, they have no transfer fee and the exchange rates are significantly better than banks.

What also makes OFX stand out from the rest of the competition is it's 24/7 telephone support service - perfect for online merchants and suppliers transacting all day and night.

  • They’re not as competitive if you’re sending less than NZ$2,000.
  • Minimum transfer amount of NZ$250.
  • You can’t pay for your transfer using cash, credit card or a cheque.
  • Foreign currency account limited to online sellers

International money transfer reviews

We’ve listed some of the very best online money transfer services above, and they’re some of your best options if you want to send money abroad. You’re not limited to those choices though — there are many financial service providers that will offer to send currency overseas, all with differing fees, exchange rates and services.

We’ve reviewed all of these providers and you can find links to all of these reviews below.

  • worldremit logo

Transferring money internationally through your bank?

Banks are almost always more expensive than companies that specialise in overseas transfers even if they can be more convenient. They charge high fixed fees and worse exchange rates than you can get from companies like TransferWise, XE Money Transfer, WorldRemit and similar businesses. It's really easy to make the switch - try it now.

Our frequently asked questions

Why should I choose The Currency Shop?

Many people are not aware of the true cost of transferring money. But it is pretty standard to lose up to 8% of your money each time you transfer money internationally, depending on your method. We think this is far too much. That’s why we help you find the best way to transfer your money and avoid those costly hidden fees and charges. And it works. On average, we save our customers $4,000 each year.

How does it work?

It’s pretty simple. Whether you need travel money or would like to transfer money overseas we just need a little info to point you in the right direction. First, you tell us what you are looking for then we compare hundreds of providers to find the best deal for your current situation. We’ll highlight all the available options and recommend the best one for you. You can then decide which option you prefer, and click through to their site to secure the deal.

Is it safe?

Yes. The Currency Shop holds an Australian Financial Services Licence (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.

What does it cost?

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.

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Last updated
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