5 Proven Ways to Transfer Money to NZ Cheaply

Transfer Money to New Zealand

Looking for the best proven way to send money to New Zealand? It can be time consuming to research the cheapest and fastest online money transfer companies and compare the best foreign exchange rates.

That's why in this guide we show you our list of 5 best money transfer services to send money online. We also tell you which company has transparent fees, mobile apps and different delivery options to make your international money transfers easier.

 

The best money transfer services to transfer money to New Zealand

TransferWise cheapest and fastest

TransferWise

If you prefer to transfer money online, TransferWise is the easiest way to do it. It's incredibly simple to set up an account or make a transfer using their app. They also have the best exchange rates, because they offer the same market rate you see on XE or Google and don't add any hidden exchange rate mark ups.

How much does it cost to transfer funds to New Zealand?

Transfer Fee: AUD$6.33 to send AUD$1,000, EUR€5.10 to send EUR€1,000 and GBP£4.45 to send GBP£1,000.
Exchange Rate: TransferWise gives you the best possible rate (google rate).
Additional Fees: Bank transfer is the cheapest; followed by debit card and credit card.

How to transfer money with TransferWise?

  • Create an online account and login.
  • Tap in how much and where to. Enter your recipients details.
  • Make local currency payment to TransferWise, using a bank transfer or your debit or credit card.

How long does it take?

Your recipient will get the money in NZD from TransferWise's local account within 0-1 business days.

Is TransferWise safe?

Yes they are. Click here to see our full review of TransferWise.

Best features:

  • Quick online set-up
  • Transparent fees and offer the best rates online
  • Very fast transfers to a bank account
  • Simple mobile phone app

Service details:

For TransferWise help online

OFX Best for Large Transfer Amounts

OFX

OFX is one of the oldest money transfer companies and have a good track record for security. Recently, OFX stopped charging a flat transfer fee for transfers over $10,000. They are a good option for online users who still want to send large amounts to New Zealand.

How much does it cost to transfer funds to New Zealand?

Transfer Fee: OFX no longer charge a flat transfer fee for transfers over $10,000.
Exchange Rate: OFX add a margin to the exchange rate when you convert your local currency to New Zealand Dollars (NZD).

OFX has a currency exchange calculator, but it shows the interbank rate. This is the rate BEFORE they apply their margin. To get an accurate quote, you need to set up an account with OFX.

How to transfer money with OFX?

  • Create a free online account and login to get a live quote for your transfer.
  • Enter your recipients details including bank account, financial institution number, account number and BSB (bank statement branch) number.
  • 'Finalise transaction' and pay using a bank transfer. Business customers can use direct debit.

How long does it take?

Your recipient will get the money in local currency into their account in 1 business day.

Is OFX safe?

Yes they are. See our full review of OFX for more information.

Best features:

  • Easy online set-up
  • Good exchange rates and lock-in rate for larger amounts
  • 24/7 phone support
  • Mobile phone app

Service details:

OFX FAQs

World Remit Free Fee Service

WorldRemit

WorldRemit specializes in remittances and smaller transfers. They're perfect for personal money transfers up to $10,000 to New Zealand. Their rates are usually better than your local bank's and they offer more flexible delivery options than companies like PayPal, Western Union or MoneyGram.

How much does it cost to transfer funds to New Zealand?

Transfer Fee: Special offer for new customers. No fees on your first 3 money transfers. Use promo code 3FREE
Exchange Rate: WorldRemit add a margin to the exchange rate.
Maximum transfer amount: Depends on where you send the money from.

How to transfer money with WorldRemit?

  • Create an online account and login.
  • Tap in how much, how you want to transfer (cash pickup, bank deposit, Mobile Money or Airtime top-up) and where to. Enter your recipients details
  • Make local payment to WorldRemit, using a bank transfer or your debit or credit card.

How long does it take?

Depends on your delivery choice. For a wire transfer they will get money within minutes. Cash delivery is ready instantly with valid photo ID and transaction reference number.

Is WorldRemit safe?

Yes they are. Learn more about how trustworthy WorldRemit are.

Best features:

  • 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
  • 24/7 customer support

Service details:

WorldRemit FAQs

Best Customer Service

Torfx

If you feel unsure of making an online money transfer to New Zealand, TorFX could be a good option as they provide an individual account manager to guide customers.

How much does it cost to transfer funds to New Zealand?

Transfer Fee: Free transfers.
Exchange Rate: The exchange rate you receive depends on the amount of your transfer.
Minimum Amount: $200

How to transfer money with Torfx?

  • Register and account online, its free and fast.
  • Once registered, get a rate from your account manager and have access to transfer money 24/7.
  • Pay Torfx and they will transfer the funds to the New Zealand bank account.

How long does it take?

Allow 1-2 business days for international money transfers.

Is TorFX safe?

Yes they are. It holds a Australian Financial Services Licence (AFSL), is regulated by AUSTRAC and authorised is by the Financial Conduct Authority (FCA).

Best features:

  • Excellent customer service from dedicated account manager
  • Trade over 30 different currencies
  • Well known and trusted brand
  • Spot contracts, forward contracts, limit and stop loss orders available

Service details:

For help from Torfx and phone number; UK - Tel: +44 (0) 1736 335250 and Australia - Tel: 1800 507 480

Best Big Brand

Xoom powered by PayPal

Xoom is convenient for money transfers, but costly compared to other money transfer specialists.

How much does it cost to transfer funds to New Zealand?

Transfer Fee: Differs depending on amount and how you pay them. Paying them by bank transfer is free, but if you pay by card the fee is percentage based.
Exchange Rate: A margin is added to the exchange rate when you convert your local currency to New Zealand NZD.

How to transfer money with Xoom?

  • Sign up to an account and login.
  • Tap in how much and where to. Enter your recipients details. Enter how you would like to pay.
  • Recipient receives money in bank account or in cash available for pick up at agent location.

How long does it take?

It will take 1-2 business days. Transfers submitted by 11 am EST on a bank business day will be delivered by 5 pm EST the next business day.

Is Xoom (PayPal) safe?

Yes they are. They are powered by PayPal, which is one of the oldest online payment platforms trusted for secure online money transfers.

Best features:

  • Safe, trustworthy, fully licensed and authorized company
  • Pay recipients bills or phone reloads via app
  • Regular status updates via text or email

Service details:

Xoom help phone number: UK Tel: 0808 169 9564 (freephone) or +44 131 297 6784; France Tel: 0805 638 465 (freephone) or +33 1 70 77 86 69; US tel: (877) 815-1531 (toll free) or +1 (415) 395-4225.

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General advice: The information on this site is of a general nature only. It does not take your specific needs or circumstances into consideration. You should look at your own personal situation and requirements before making any financial decisions.