Find the Cheapest Way to Transfer Money to Australia

With so many ties between New Zealand and Australia, the need to transfer money between the two countries is great and we will show you how easy and safe it is to transfer money from New Zealand to Australia. We have researched lots of banks and money transfer services and provided a summary of the essential information you need to know to send your money to Australia.

After comparing over 15 different banks and money transfer services, The Currency Shop found it consistently cheaper to use a money transfer service.

They are cheaper for two reasons:

  • Lower transaction fees (sometimes there are fee free transactions)
  • Better exchange rates

To find the cheapest way to transfer money from NZ to Australia use our comparison table and start saving.

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You can either go to each website and check each online transfer service rate or use our comparison table.

How much does it cost to transfer money to Australia?

The 3 main costs to consider are exchange rate costs, transfer fees and additional fees when transferring money from NZ to Australia.

Exchange rates is the value of one countries currency versus another, eg: NZD vs AUD. Simply put exchange rates tell you how much of one currency you can exchange for another, eg: if you wanted to buy AUD$1000 it would cost NZD$1190.60 with an exchange rate of 0.839908. 

The stronger the NZD performs against the AUD the less it will cost, eg: if the exchange rate increases to 0.939908 the AUD$1000 would only cost NZD$1063.93. 

The exchange rates change daily and the rate shown on Google is the mid market rate or the interbank rate. This is rate money banks charge each other for foreign currency exchange. Most money transfer services will charge from 0.000065% to 2%.  Most banks will charge between 1 - 4%. 

The difference in exchange rate may look small but the savings can be up to $100’s of dollars.

Transfer Fees

A transfer fee is a one off payment per transaction. Most money transfer service charge between $4 and $8 per transfer. Most banks charge from $25 per transfer.

Additional Fees
Banks can also charge other fees for receiving, intermediary bank fees and bank cheque or draft fees. Receiving fees are approximately $15 per transfer, intermediary bank fees are variable and bank cheques or drafts they can charge up to $60 per transaction.

It's cheaper to transfer money using a money transfer service than a bank due to the fees and costs.

How to transfer money to Australia

Using a money transfer service

Sign up online to transfer money from NZ to Brazil


Sign Up Online It takes 5 - 10 minutes to type in your personal details, verify your identity with photo id and set your account with passwords and preferences. You don't have to be a regular customer.
Provide details to transfer money from NZ to Brazil


Provide money transfer details Say which currency and how much you want to send. You will need the full name, account number, BSB number and IBAN code of the bank account in Australia. Send the funds requested.
Make payment to transfer money from NZ to Brazil


Delivery of Money Money is delivered to local Australian account and you're updated regularly via phone or email. They're very good at keeping you informed of where you money is at any point in time.

Using a bank to send money overseas

  1. Sign up online or in person. If you're already a customer of the bank then you can skip this step.
  2. Tell them which currency and how much you want to send. You will need the BSB code of the bank account in Australia. The bank will deduct the amount plus fees from your account.
  3. Money is sent to a local bank account. Any receiving fees will be deducted by the local bank before money is deposited into the account. Banks tend to leave it up to the customer to check if the money has been received.


Methods of Payment:

Both money transfer services and banks accept bank transfers, credit cards and debit cards. Money transfer services may offer other forms of payment, such as POLi transfers.

How long does a money transfer take from NZ to Australia?

There are lots of factors that affect the speed it takes to send money overseas. Generally, the method you choose to transfer money will be the main factor that will impact speed.

Money Transfer Services can take 0 - 3 days

When using a money transfer service like Wise (formerly known as TransferWise) they tend to quote arrival time in hours not days. They will keep you updated on the movement of your funds.

Bank to Bank Transfer can take 2 - 5 days

The time it takes until the payee can see money in their account will vary depending on the receiving bank. It also might be delayed by public holidays in either the sending or receiving country. It is up to you to check if the person you sent money to has received it.

Wire or Telegraphic Transfer can take 3 - 5 days

These transfers are slow because the money moves from your bank usually through the SWIFT network. On the way, the money may go through a network of correspondent banks before landing into the overseas account.

How long does it take to transfer money from NZ to the UK?

What information do you need to transfer money to Australia?

What information do you need to transfer money from NZ to Brazil?
  • 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 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.
  • Their bank account details, the full name on the account, the BSB and IBAN code of the bank account and bank account number.
Helpful hints

- Make sure your photo is of a high quality so they can see the picture. Make sure the id is valid and within the expiry date.
- You can not give your work/office address or PO box address.

Is my money safe online?

One of the first questions most people ask is “Will my money be safe online?”. The answer is yes for both money transfer services and banks.

Money transfer services need to be regulated by ASIC to send money to Australia and have very stringent guidelines that must follow in order to send your money. They implement strict verification processes to ensure they fully identify all of their customers. They also 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.

Banks in NZ are regulated by the Reserve Bank of NZ (RBNZ). Australia are regulated by the Council of Financial Regulators which includes the Reserve Bank of Australia (RBA). Banks keep their transfers safe by offering customer security, fraud monitoring and two factor identification. Customer security is offered through KeepSafe at Kiwibank, NetCode at ASB, NetGuard at BNZ, NetCode at Commonwealth Bank and NAB Defence at NAB. They also offer fraud monitoring services and two factor authentication system for online transactions.

How do I keep my money safe when I transfer from NZ to Brazil online?

How much money can I transfer into and out of New Zealand?

How much money can I send to New Zealand?

According to New Zealand immigration there is no limit on how much foreign currency you can bring in or take out of New Zealand.

In the event you arrive at the airport with more than $10,000 NZ dollars or equivalent you will need advise a Customs Officer and they will ask you to declare this on your Border Cash Report.

Can I open an Australian bank account from NZ?

You can easily set up an Australian bank account online with the following banks while you're in NZ, 12 months before you move to Australia

  • Commonwealth bank or Commbank (CBA)
  • Westpac (WBC)
  • Australia and NZ Bank (ANZ)
  • National Australia Bank (NAB)

However, if you set up an account while in NZ with an Australia bank, it is still cheaper to use a money transfer service to transfer money from NZ to Australia.

Some people will naturally think to use their bank to transfer money, but unless you are one of their top customers you will not receive a competitive exchange rate and will pay expensive transfer fees as well. We suggest setting up an account with the likes of Wise, XE or OFX

Customer Reviews

When sending money from NZ to Australia it is important to read customer reviews before making your decision. TrustPilot is a great place to read reviews for all the money transfer services.

Best TrustPilot rated services to transfer money to Australia

  1. Wise has 75,000+ reviews and is rated 4.6/5
  2. XE has 33,000+ reviews and is rated 4.7/5 
  3. WorldRemit has 32,000+ reviews and is rated 4.6/5 
  4. OrbitRemit has 19,000+ reviews and is rated 4.7/5
  5. OFX has 3,700+ reviews and is rated 4.4/5 
  6. Torfx has 3,100+ reviews and is rated 4.8/5


The Currency Shop Reviews

In addition to customer reviews we have thoroughly researched the following money transfer services and provided individual, detailed reviews below.

Customer Reviews of Money Transfer Services

Where can I get support online?

Where can I get support online?

Wise - email:,  website:

OFX - email:, phone: 1300 300 424

OrbitRemit - website:

Torfx - email:, phone: 1800 507 480

XE - email:, phone: 0800-932-664 or +64-(0)9-306-3700

World Remit - website:, phone: 0800 800046 

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By Justin Rampono Updated March 25th, 2021