4 Cheaper Ways to Transfer Money to China from New Zealand

How to avoid high fees and bad exchange rates.

Whether you're sending money to China for the first time, or if you're doing it frequently - it pays to know the cheaper options.

At The Currency Shop we help you compare money transfer providers to find the best exchange rates and lowest fees right now. Leaving you more time and energy to conquer the world.

So, what is the best way to transfer money to China?

The best way to send money to China can depend on your goal. Choose from the options below or compare exchange rates to find the best deals.

How to send money from New Zealand to China using a money transfer provider

  • Step 1
    Thankfully, you only have to do this once. You'll have to register your details like name, address email and provide some identification.
  • Step 2
    You'll need to enter the bank account details of the person you are transferring the money to. This is also when you lock in the exchange rate.
  • Step 3
    Before the money is transferred overseas, you'll need to pay for it. All companies offer their bank account details for a direct bank transfer. Most companies offer Bpay and some even allow you to pay using a debit or credit card.
4 Tips for Making an International Money Transfer 4m 08s

NZD to CNY Exchange Rates

You don't like getting ripped off. So why are you ok with paying exorbitant fees and rates on currency conversions? You shouldn't be.

Compare exchange rates from New Zealand banks and foreign exchange leaders.

Sending money to family and friends

It can be hard living away from your family, especially if you're spending extended periods of time away from home. This is especially true when it comes to missing important events with your friends and family. If you're looking to send a small amount of money home, you want to be careful of any fees you're being charged. And if you're sending a large amount, it's even more important to take into account the exchange rate you're offered for the transfer.

This is the main reason why you should search for providers that suit your needs, and compare all your options before making a transfer.

When sending money family and friends, consider using TransferWise.


TransferWise offers you the wholesale exchange rate that you see on Google. They then charge you a percentage based fee, which can be reduced when you're transferring more than $10,000.

Related Review: Learn more about TransferWise here.


  • Clear and transparent exchange rates fees.
  • The online experience is first class.
  • Like the banks, they are regulated by ASIC and registered with an AFSL.
  • Their Borderless Account is like a foreign currency account.


  • There are currently a number of global currencies they do not support.
  • Limited support based in New Zealand.
  • Percentage based fee can add up on very large transfers.

Transferring a large sum of money

If you're sending a large amount of money between New Zealand and China, the most important things to consider are:
1. The safety and security of your money.
2. The exchange rate being offered.
3. Any extra fees.

When transferring a large amount of money, consider using OFX.


OFX is the largest Australian owned money transfer company. They have an easy to use website and access to 24 hour customer support if you need it when making your transfer. They are an excellent option for safe regular transfers, and usually have much better rates than the banks.

OFX normally charge a fee for smaller transfers, if you use The Currency Shop's link this will be waived. Meaning you only have to look at the exchange rate.

Related Review: Learn more about OFX here.


  • Better exchange rates when compared to the banks.
  • Highly safe and secure transfers.
  • 1 - 2 days transfer times for most countries.
  • Quick response time and good customer service.


  • Credit cards, cheques and cash are not accepted.
  • Have to sign up to get an accurate quote.
  • Can take a while to set up an account as they have very strict ID verification processes.
  • They are not licensed to provide financial advice.

Transfer money without a fee

Sometimes it feels like you get charged for everything.  Unfortunately, international money transfers are no different. New Zealand banks can charge you anywhere from $10 to $30 to transfer money overseas. But it's not all bad news. There are money transfer companies that let you do it without charging a fixed fee.

If you want to transfer money without a fee, consider using XE Money Transfers.


Outside of a bank, XE is one of the largest and safest companies in the world. They are a well known and trusted name in the money transfer industry. With over twenty years experience, they now help 33,000 people and 2,000 businesses make transfers each year.

They offer better rates for large transfers, charge no fees and have good customer service if you need help with your transfer.

Related Review: Learn more about XE here.


  • Well known and trusted brand.
  • No international money transfer fees, or minimum transfer amount.
  • Accessible customer service.
  • Business and individual support.


  • Limited currencies available to transfer.
  • Maximum transfer size of $500,000
  • They do not accept payment by cash or cheque.
  • No customer service on weekends.

Cash pick-up

There are some instances where transferring money to a bank account overseas isn't an option. You might simply want to send someone cash, or you might not have their bank account details. The most well known name in international cash transfers in Western Union. They have the widest range of currencies and destinations available. Often their exchange rates and fees aren't very nice, so it is worth looking into other possible options.

If other companies can't support you, you always have the likes of Western Union and MoneyGram if you need them.

When sending cash to and from New Zealand, consider using WorldRemit.


WorldRemit are focussed on providing remittances. Because they only provide support to people making transfers for personal reasons, we like them for cash transfers. They have over 2 million users and have a number of ways to both make and receive payments.

They are an excellent option for smaller transfers, and have much better rates than companies like Western Union

Related Review: Learn more about WorldRemit here.


  • Their website is easy to use, and you can set up an account very quickly.
  • They have competitive rates, and a lot of the time these will be better than what you'd find a your bank.
  • They don't have a minimum amount you can transfer.
  • 24/7 support available in nearly 20 countries worldwide.
  • Can easily get an accurate quote for your transfer using their online calculator.


  • They have a maximum transfer size of $10,000 and this even lower for some currencies.
  • Don't offer support for businesses.
  • Their transfer fee is not fixed, so it can change between different currencies.
  • They are unable to offer financial advice.
  • Not all transfer methods are available in all countries.

Frequently asked questions

How long does it take to send money to China?

Paypal and Western Union (cash pick-up) are the fastest options. The transfer can be done in minutes.
If you're sending the money to a bank account, it will take 1-2 days if you use a bank.
Or 2-3 days if you're using a money transfer company.

What information do I need to make a transfer?

To send money overseas, you’ll need the following information of the bank account you're sending the money to:

Beneficiary or Recipient Details

  1. The Account Name of your Recipient (person/business you're paying)
  2. Their address
  3. The SWIFT Code of their bank

Is it safe to use The Currency Shop to compare?

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.

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.

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