Take advantage of low fees and competitive exchange rates when sending money to New Zealand.
Compare international money transfers
Our interactive table 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 at your destination.
Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options.
With over 17 years of foreign exchange expertise and over $100 billion transferred, OFX can help with all your currency exchange needs, including:
- Buying property abroad
- Regular overseas payments
- Risk management
- If the provider quotes a different rate to the one above please let us know
How do international money transfers work?
If you don’t already have an account with the company you choose for your transfer, you’ll need to open one either in person or online. The money you send can be in cash or from a bank account, a debit card or even a credit card. Simply put, once you’ve signed over your funds and designated a recipient, the bank or transfer agency whisks it through electronic money networks to its destination, where your recipient either picks it up in person or finds it deposited into their bank account.Back to top
Banks vs. money transfer providers
Think the obvious way to send money abroad is through your bank? It may also be the slowest and priciest, with high fees and weak exchange rates — resulting in fewer New Zealand dollars for your recipient.
You can save time and money by using a money transfer company that specializes in zipping funds around the world. They stay in business by offering low fees, and most take a minimal cut of the exchange rate. You pay less upfront, and your recipient gets more NZDs down under.Back to top
Samantha sends money to New Zealand
Samantha lives in Oregon and wants to send $500 to help her nephew Liam in Dunedin fix his car. She calls her bank and is stunned at their fees and exchange rates for a wire transfer. After searching online, she finds a money transfer company that will let her help Liam for less.
|Exchange rate||1 USD = 1.31 NZD||1 USD = 1.41 NZD|
|Transfer method||Bank account withdrawal||Bank account withdrawal|
|Processing time||2 business days||1 business day|
|NZD received||655 NZD||705 NZD|
As the table shows, Aunt Samantha can send Liam an extra $50 NZD on the exchange rate alone by using the transfer company. And she’ll save the $45 transfer fee on her end.Back to top
How to compare transfer companies when transferring money to New Zealand
You’ll want to consider costs, of course. But other factors can also affect your choice.
- Exchange rate. U.S. dollars are converted to New Zealand dollars at an exchange rate that’s set by the transfer provider. These rates vary day to day, even moment to moment, and among providers.
- Fees. Most companies charge a fee to dispatch your money around the world, though some will waive that fee for large transfers. The fee and the exchange rate determine how much your transfer will cost.
- Minimum amounts. Some companies will transfer as little as a dollar, but others won’t deal with anything less than a few hundred. Look for a match with what you’re trying to send.
- Urgency. If the money needs to get there ASAP, most providers complete transactions in a day or two. Some can do it in minutes, at a higher cost. The fastest availability usually comes with picking up the funds in cash. Surprisingly, using a credit or debit card on your end can be faster than pulling money directly from a checking account.
- Process and scheduling. Do you prefer to send money online, over the phone or in person? Do you want to schedule a future transfer or use a forward contract in anticipation of better exchange rates?
- Payment methods. Will you pay with cash, a bank account or a debit or credit card? Transfer agents often see debit cards as quicker and more secure than the bank accounts they’re based on. However, using a credit card can trigger cash advance charges from your credit card company.
- Customer service. How much help will be available if you hit a snag or have a question? Are the support hours convenient?
Exchange rates reflect how much one country’s currency is worth in another currency, and rates fluctuate continuously on global markets based on shifting interest rates, economic prospects, inflation and other factors.
Ways to send money to New Zealand from America
- Bank transfers. Most major banks offer wire transfers to New Zealand.
- Money transfer providers. Online providers like TransferWise and WorldRemit can help you transfer money quickly and easily.
- Transfer companies with cash pickup. Providers like Western Union, MoneyGram and Ria have offices in New Zealand where your recipient can pick up the money — sometimes within minutes after you send it.
- PayPal. You can send money abroad using your PayPal account.
Picking up cash at a money transfer branch
If you send money for pickup at a money transfer location, share the transaction reference number with your recipient. The recipient will also need a photo ID and may want to call ahead to confirm operating hours and availability of the cash.
New Zealand’s crime rate is relatively low, according to the U.S. State Department. But anyone picking up a large amount of cash anywhere should keep it out of sight, be aware of their surroundings and deposit or spend it as soon as possible. Identify a safe pickup location in advance, and encourage your recipient to take a friend.Back to top
How safe is a money transfer?
When processed through a reputable provider, your funds are safely tracked until in the hands of your recipient. When sending money internationally, federal protections are in place that require banks, credit unions and money transfer companies to, for example, disclose all fees upfront and give you 30 minutes to cancel a transfer, assuming it hasn’t yet been picked up or deposited.
Follow the money to New Zealand
Whichever method you use, keep a record of the transaction reference number and other details so you can track the transfer and follow up if your recipient has any issues.
For a more comprehensive look at sending money overseas, see our guide to sending money overseas.Back to top