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Transferring money overseas can be expensive, even when it’s only going to New Zealand. Compare your options, learn about the hidden fees and find out how to make sure more money arrives at its destination.
以透明的匯率，低收費及低最低金額的網上服務作匯款。
Make online transfers with transparent exchange rates, low fees and low minimum amounts.
Use the table below to sort through money transfer services and compare your options. You can search to find the most competitive fees or exchange rates, or simply put in how much you want to send and then see how much will typically arrive with each service.
The main alternative to international money transfer services is bank transfers. Nearly every Hong Kong bank will allow you to send money to New Zealand, and this sort of transaction is very easy to set up. However, banks typically charge higher transfer fees, and you’ll generally get more competitive exchange rates with international money transfer services.
Consider the differences, based on real rates and fees that were offered by a major HK bank and a transfer service in June 2018:
| Bank | Online money transfer service | |
|---|---|---|
| NZD/HKD Exchange rate | 5.3838 | 5.3424 |
| Transfer fee | HKD$65 | $0 |
| NZD received for HKD$10,000 | NZD$1,857.4 (incl. fees) | NZD$1874.9 |
| Transfer time | 2 – 5 working days | 1 – 2 business days |
| Transfer options | Internet, In-branch | Internet |
| Difference of | +NZD$17.5 |
Even if you were only sending $100, you’d still have to pay the same transfer fees as well as any additional bank fees.
Typically, international transfer services are the best way to transfer money from Hong Kong to New Zealand. In this case, “best” means the most cost-effective with consideration to transfer fees and exchange rates at one point in time only. It does not take into account your specific situation, differences in transfer times, transfer methods or any other factors which might affect an option’s suitability.
Here, international money transfer services generally have two key advantages over bank transfers:
It’s important to note there might be additional charges as well as a transfer fee. These are often unavoidable whether you’re using a bank transfer or an international money transfer service.
The main ones include the following:
However, the way these apply can work differently depending on whether you do a bank transfer or use a transfer service.
If you want to make sure the right amount of money arrives, you will often need to find a way of adapting to these fees. With a transfer service, you may be able to send more in order to compensate for the fees. With a bank transfer, you can choose to pay these fees up front.
However, doing so will generally incur yet another fee, called a correspondent fee. This can vary depending on the bank, the destination and currency. Note that this correspondent fee will apply on top of the recipient and intermediary fees that you have chosen to pay.
The best way to send money to New Zealand, purely in line with the cost-effectiveness criteria specified above, will typically be with an international money transfer service, rather than with a bank transfer. However, fees and rates aren’t always the only factors to consider. When comparing transfer methods, or looking at the differences between individual money transfer services, you might want to look at other features as well as balancing differences in rates and fees or conditions where you might be able to make fee-free transfers.
Bank transfers and international money transfer services are two of the main options, but you might consider others too.
Sometimes it may be necessary to make an emergency transfer of cash to New Zealand. For example, a relative could be travelling in New Zealand and have their wallet stolen.
Emergency cash transfers are useful here because they can pick up the funds almost immediately, frequently within five or ten minutes, and because it’s cash that they can use it right away.
Cash transfer companies like Western Union will have physical locations for easy and hassle free cash pick ups.
Back to topFor big transfers, it’s generally a good idea to phone ahead to ensure the branch in question will have enough cash on hand to complete the transaction. The recipient will typically need to provide a reference number, transfer details and some identification.
Auckland
Christchurch
Auckland
Christchurch
Although New Zealand is relatively safe overall, it’s a good idea to exercise caution when picking up a lot of cash no matter where you are. Take someone with you if possible, and try to head straight to a bank to deposit any excess as soon as you can.
If you’re sending a large amount of money, you might want to look for alternatives to a cash transfer. Not only is it safer, but you’ll typically be able to find more favourable exchange rates and lower fees by comparing international money transfer services.
Back to topThe exact application and transfer process will vary depending on your chosen service, but you’ll generally need to provide contact details, some personal information like your date of birth and provide some form of identification. Naturally, you’ll also need to provide your recipient’s details. Once you’ve completed a transfer, you’ll generally receive some sort of receipt or notification so that you can track the progress of your funds.
If you like the sound of the lowest fees and the most competitive rates available, you might opt for an international money transfer service. In that case, the first step is to compare your options, read over any terms and conditions and open an account.
Now that you understand how money transfers work and how to compare your options, go to the table above and click “Go to Site” on your chosen provider. Here, you can request a quote based on the current exchange rates. It’s best to get quotes from a couple of providers before making your transfer.
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