Send Money to New Zealand: Best Transfer Services | Finder Canada

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Send money to New Zealand

Take advantage of low fees and competitive exchange rates when transferring money to New Zealand.

Sending money to New Zealand from Canada has many benefits. Because it’s a popular country, you’ll have plenty of selection when comparing transfer services. Before you get started on a transfer, compare fees and exchange rates of top providers to be sure you’re getting a good deal.

Send money to New Zealand with XE

XE has fast transfers with no fees and a range of foreign currency tools.

  • Send money overseas in just one day
  • More than 40 different currencies available
  • No transfer fees
  • Keep track of your transaction 24/7 online
Promoted

Compare international money transfers to New Zealand

Our comparison calculator lets you compare current fees, exchange rates, transfer speeds and other details about sending your money overseas. Enter the amount you’re transferring, and see how much will arrive to New Zealand.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
CAD 0 Within an hour CAD 3.99 1.13 NZD
5,647
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Go to site Show details
CAD 1 1 - 2 days CAD 45.00 1.135 NZD
5,623
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details
CAD 1 Same day CAD 0.00 1.129 NZD
5,645
XE has fast transfers with no fees and a range of foreign currency tools. Go to site Show details
USD 150 1 day CAD 15.00 1.123 NZD
5,600
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

What’s the best way to send money to New Zealand?

Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to New Zealand. Some offer cash pickup in as little as a few minutes, while others seamlessly transfer to bank accounts. Sending money through PayPal or your bank is also an option, but you’ll typically face higher fees and weaker exchange rates when going that route.

Digital money transfer services

Companies like XE specialize in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient’s New Zealand bank account, often in as little as a day or two.

Cash transfers

Services like WorldRemit and Western Union allow you to transfer cash for pickup at a local branch in New Zealand — often in 15 minutes. While it’s a fast way to send money, you’ll pay for the convenience in weak exchange rates and high fees.

Banks

New Zealand dollars are not a popular currency, but your local bank may be able to exchange them. If your bank supports New Zealand dollars, beware of high fees and wide margins on the exchange rate compared to digital and other options when sending a wire transfer to New Zealand.

Let’s crunch the numbers: Sending $1,000 to New Zealand

Let’s say you need to send $1,000 to family in New Zealand. Here’s what you might face as far as fees and exchange rates as of October 20, 2020.

Digital money transfer serviceCash transferBank transfer
Fee$0$4.99$50 + additional correspondent bank fees
Exchange rate1 CAD = 1.1347 NZD1 CAD = 1.1231 NZD1 CAD = 1.1119 NZD
Transfer speed1-2 dayMinutes2-5 days
Amount receivedNZD 1,135NZD 1,117NZD 1,056
Verdict
  • Best value
  • Fastest
  • Slowest and most expensive

The bank option ends up being both the slowest and gets the smallest amount of money to your recipient in New Zealand. If you go with the digital money transfer service, your recipient ends up with NZD 79 more than the bank offers. If speed is crucial, a cash transfer can typically have your transfer to New Zealand in as little as 15 minutes, just make sure there is a cash pickup location near your recipient before sending.

How to send money to New Zealand online

Sign up and send money with a digital money transfer specialist in four steps:

  1. Sign up for a free account. Pick a provider and sign up for a free online account using your contact information, proof of ID and preferred payment method.
  2. Provide transfer details. Submit your recipient’s contact information and pick a delivery method. If transferring to a bank, you’ll need their New Zealand bank account details.
  3. Confirm transfer details. Double-check your payment method, expected fees and destination.
  4. Save your receipt. Record your receipt’s confirmation number to track the progress of your transfer to New Zealand. Some money transfer providers send a text or email when your transfer is complete.

What are the ways that I can send money to New Zealand

  • Bank transfers. Many major Canadian banks will allow you to send money to New Zealand.
  • Money transfer providers. Providers like Ria and Wise can help you quickly and easily transfer your money online.
  • Providers with cash pickup. Western Union and MoneyGram allow you to send funds for cash pickup at agent locations.
  • PayPal. Electronic payment giant PayPal allows you to send money from Canada to New Zealand.
  • Cheques and money orders. Although not a quick option, you could send an international cheque or money order overseas, obtained from your bank or Canada Post.

How to get the most out of your money transfer to New Zealand

Weigh costs and fees against convenience to learn how to compare money transfer providers that send to New Zealand to best meet your needs:

  • Exchange rates. The CAD-NZD relationship fluctuates often, so using a service that allows you to lock-in exchange prices may help you save money down the line if the New Zealand dollar rises against the Canadian dollar.
  • Transfer fees. Transferring money overseas nearly always requires fees, but they might be hidden in the exchange rate. When sending large amounts, it may be cheaper to pay a flat fee to secure a stronger CAD-NZD exchange rate.
  • Transfer limits. How much you can send varies by company, and different amounts can attract higher or lower fees. Shop around for the best deal on the number of New Zealand dollars you’re sending to New Zealand.
  • Turnaround. Transferring money through a local bank can take a business week or longer. If you need the funds delivered quickly, seek out a digital specialist that offers instant transfers to New Zealand.
  • Sending limits. Comparing prices for one large transfer instead of many small transfers is typically easier, so picking the service you use based on how much you’re sending is a valid strategy for saving money.
  • Transfer methods. Whether you want money sent to a New Zealand bank account or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.

Emergency cash transfer to New Zealand

When urgency trumps cost to get your money to New Zealand quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.

How to send money to New Zealand without a bank account

Cash transfer services can help you if you don’t have a bank account, look for a local company that supports storefronts for cash payments. These services include agent locations in other countries that allow your recipient to pick up cash without a bank account.

New Zealand’s exchange rates explained

The exchange rate determines how much one country’s currency is worth in another country’s currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weaker currency. New Zealand’s exchange rate is flexible compared to Canadian dollar, and the CAD-NZD relationship fluctuates often. Factors that influence the exchange rate include interest rates, economic stability and inflation.

Today’s exchange rate CAD to NZD

1
0
Updated: 10 Apr 2021 18:08:59 UTC

Documents needed for sending to and receiving money in New Zealand

To send money to New Zealand from Canada, you’ll need government-issued ID and other documents, while documents needed to pick up money in New Zealand may be different by company.

Documents to send money from Canada

To send money from Canada to New Zealand, you’ll need documentation and details that include:

  • Identification. Most services require a driver’s license, passport or other government-issued ID. Some services allow you to send transfers without ID, but they may require your SIN.
  • Payment method. Your service may accept credit or debit cards, cash, bank accounts or personal cheques.
  • Recipient information. Submit your recipient’s name as it appears on their ID, along with their phone number and New Zealand bank account information.

Documents to receive money in New Zealand

To pick up money in person, documentation can include:

  • Transfer number. The person sending you money can forward the transfer’s confirmation details — called a PIN, a MTCN, a reference number or a tracking number, depending on the company.
  • Government-issued ID. A New Zealand Passport, New Zealand ID or similar official ID may be required to pick up your transfer..
  • Amount sent. You may need to know how much was sent, usually within 10% of the total.
  • Sender’s information. Take along your sender’s full name, the sending country and their address, if known.

What to watch out for

When you send money to family members in New Zealand, the money may be subject to taxes in New Zealand but it depends on a lot of variables. In general, you won’t have to report any amount of money to the CRA that you transfer out of Canada. But it’s still a good idea to keep all records of transfers just in case.

Bottom line

Sending your hard-earned money to New Zealand shouldn’t cost a fortune. Compare money transfer companies that specialize in foreign transactions for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country specific guides the next time you need to make a transfer.

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