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How to send money to New Zealand using a money transfer service or foreign exchange broker to a New Zealand bank account.

Send Money To New Zealand

Transferring Money to New Zealand

When transferring money to New Zealand either to relocate or purchase a residential or commercial property, there is a series of ways to improve your chances of getting an ultra-competitive NZ dollar exchange rate, receive exceptional service and also guarantee you send out cash to New Zealand securely.

Ways to Send Money to New Zealand

  • Debit Card – when obtaining products on New Zealand web sites or making use of an internet merchant you might be offered the ability to pay with a debit card. Internet websites are not likely to give affordable foreign exchange rates when sending money to New Zealand or buying things on an international debit card. You are probably to be charged an admin fee from your bank to make the NZD settlement as well as possibly be charged by the seller’s financial institution. Those needing to transfer cash to New Zealand to buy a house or pay a lawyer expense could be required to transfer money to New Zealand, because of that they will require to move NZ dollars using their banks or ideally a foreign exchange broker. Numerous FX brokers accept debit cards as form of payment, leaving you to make payment with ease, whilst avoiding charges, and acquiring a far better NZD currency exchange rate.
  • Credit Card – Appropriate for leasing holiday accommodation before arriving in New Zealand, bank credit cards supply simplicity and the likelihood of compensation from your card firm if all isn’t as it appears. Nonetheless please understand credit card use uncompetitive NZD currency exchange rates as well as charge fees, occasionally this can be offset by air miles or credit card points.
  • Bank Transfer – Lots of will elect to transfer money straight to New Zealand from their international savings account. Usually, the foreign exchange rate to transfer money to New Zealand will not be as competitive as the one the fx broker will use. On top of this, you could need to stop by your bank to move a substantial amount to New Zealand. When sending out money to New Zealand via an overseas financial institution you will need to pay a transfer charge or cost corresponding to ₤ 10-30 or international currency equivalent.
  • Swift – Swift settlements relate to money transfers outside the EU. Within the EU and as a result not applicable when sending cash to New Zealand is the SEPA settlements system. As a result of not making use of the quick SEPA system money transfers to New Zealand can take a couple of days longer than transfers within the EU.

Required Bank Details to Transfer Money

Identification – when you send money worldwide using a financial institution you will be asked for to provide 1-2 examples of a photo ID and will need to have your bank account charge card on your person. Transfers to New Zealand typically will have to be made in your local branch. If you have the option to send cash to New Zealand using your online account, you will probably require your debit card reader and also log in to hand to access your online account.

When utilizing an Fx broker, your ID documents will certainly all have been maintained when you opened the account, your currency account manager will ask you some very easy questions to validate the account over the phone. Their online trading systems resemble those of retail banks with better on-line NZ dollar currency exchange rates.

Swift code –A New Zealand Swift code will begin with a four-letter bank code, followed to by two-letter country code, then a 2 letter area code, concluded by a 3 digit branch code. New Zealand doesn’t use the IBAN system.

Time taken to send money to New Zealand

  • Typical time – For an fx broker to obtain your global currency, change to NZD, and send your money transfer to a New Zealand account or recipient you need to allow in between 2-4 working days. Typically the recipient’s financial institution may take a while to assign funds sent from abroad. If utilising a bank to send funds to New Zealand you ought to permit 1-2 days extra as their handling is typically slower.
  • Same-day transfer – If funds are located in your foreign exchange transfer account you have a chance of moving your NZ dollars to New Zealand and them clearing of the following day. A same-day transfer to New Zealand is extremely unlikely when making use of the swift payments system. It can take the recipient bank account 1 day or more to allocate funds. Financial institutions will take a lot longer, normally 2-4 working days.

Cost to Transfer Money to New Zealand

  • Commission – FX commissions that are taken by international banks differs from one organisation to the next. However, one common similarity is they continue to be uncompetitive when compared to foreign exchange brokers. An Fx broker will commonly be able to save their clients around 1-4% when sending money to New Zealand as well as various other places outside of Europe.
  • Transfer Fees – An overseas bank will typically charge anywhere between ₤ 10 -₤ 40, or local currency equivalent to transfer your money to New Zealand. A lot of forex brokers do not charge transfer charges. As an example, none included on Foreign Exchange Live do.
  • Exchange Rate – A bank will typically utilise a ‘day FX rate’ which will be calculated when the branch opens in the morning. To decrease any kind of FX market volatility affecting profitability the NZ dollar rate will include a large margin or spread will be included in cover any type of daytime NZD volatility. Foreign exchange brokers, contrarily, work from live market currency exchange rates allowing you to make the most of favourable trends along with offering guidance if the NZ dollar rate weakens.

Fees for Receive Money in New Zealand

New Zealand adopts the swift settlement service which when compared to SEPA can be costly as well as slow-moving if you are sending cash to New Zealand, you are likely to be charged an intermediary expense or fee. An fx broker will typically absorb the fee yet financial institutions will charge.

Limits on Money Transfers to New Zealand

Customers should not be restricted on how much money you can move to New Zealand providing you or the business can verify the NZD money transfer. If your money broker authorises the money transfer, there is no restriction on how much you can trade.

Usually, if a transfer goes beyond ₤ 500,000+ or local currency equivalent your international currency broker can ask for a copy of a bank statement to confirm your ability to please the NZD currency trade, they might additionally ask for records to show the reason for the transfer (e.g New Zealand property purchase).

Transfer a Deposit to Open a New Zealand Bank Account

Worldwide banks or foreign money broker will be happy to assist with moving funds to transfer a new New Zealand bank account. Just make sure any documents, along with your New Zealand account info, is to hand, your financial institution or broker can after that help with your bank deposit transfer and send your money to New Zealand.

New Zealand financial institutions will normally expect you to credit your account rapidly, some banks open the account with zero deposit but usually charge between NZ$ 5-25 monthly including the fee of an of a debit card.

Safely Send Money to New Zealand

Luckily Foreign exchange brokers are aware of international payments scams and they will be diligent in your place and run recipients through their systems and flag any type of suspicious payments.

  • FCA – Always verify your UK foreign exchange provider is financial conduct authority (FCA) accepted. A UK foreign exchange broker must never hesitate to share their FCA enrolment number or a link to the FCA’s register. They must also advertise info concerning their policy on their internet site.
  • Guarantees – Whilst even the most legitimate foreign exchange broker will have no feasibility to provide guarantees, their segregated client accounts need to be held with tier 1 banking organisations. All consumer funds are held within these ringfenced accounts as well as distinguished from their working capital if something was to occur to the foreign exchange broker this permits you to obtain the funds directly from the tier 1 banks.
  • Protection –Reliable foreign exchange services abide by substantial anti-money laundering procedure to ensure they are only taking care of the transfers of respectable customers and businesses. This is continued when they exchange money and transfer funds to New Zealand, to make sure standards remain high currency exchange brokers might request details on transfers whose recipients look questionable. Money broker’s FX trading systems are electronically safeguarded, they furthermore utilise high levels of web security to avoid the possibility of their customer’s information being obtained.
  • Fraud – Despite these preventative procedures, unsavoury money transfers can happen within the global transfers market. You can, however, take measures to decrease your opportunities of ending up being a transfer scams sufferer. Never send your password or security logins over email or be pressurised to make a money transfer by a forex broker. Ensure communication with your broker is from their business e-mail address. If you are telephoned out of the blue by an unidentified member of the broker’s team or brand-new currency account manager agree to call them back to ensure they are an employee of the foreign exchange broker you work with.

Reasons to send money to New Zealand

  • Bills – Your New Zealand residence or company will have regular associated costs. These can include regional state real estate tax, renovation costs, or utility prices. An Fx broker will certainly be happy to arrange settlements to cover your New Zealand account and also look after any kind of cash transfers to New Zealand.
  • Loans – If you have been lent money from a good friend or family member in New Zealand you could want clear the financial debt if NZ dollar rates move in your favour. Conversely, if you have a home mortgage on your New Zealand property and the NZ dollar rate is in your favour you could think about sending money to New Zealand to clear part of your NZD residential or commercial property home loan.
  • Family – Birthday parties as well as family gatherings, are never far away. Your forex brokerage account can be a great means to send out financial presents to family members in New Zealand.
  • Property – When the NZ dollar currency exchange rate jumps in your favour, you might think about capitalising and renovate your residence.
  • Inheritance – Regretfully numerous people experience loved ones passing away overseas. You might need to repatriate inheritance to New Zealand. A broker can sensitively manage the transfer.
  • Car – If relocating to New Zealand you might want to rent or purchase cars to commute or discover the country
  • Holiday – If renting a residence or condominium for a trip to New Zealand your fx broker will offer a better NZD fx rate than your bank or debit card.
  • International wholesalers – When buying oversea items or materials you can use solutions offered by an fx broker to alleviate FX risk associated with purchasing items from wholesalers that market in NZD.

Foreign Exchange Brokers

Considering the services of a credible foreign exchange broker is the best way of guaranteeing to save money when sending money abroad. Savings between 1-4% are feasible which will be significant on regular transfers and Dutch property purchase money transfers. They can also provide you with several solutions to maximise the amount of currency you receive in New Zealand.

Finding a reputable Foreign Exchange Broker

Clients can compare the offerings of transfer services and foreign exchange brokers in many ways when they need to transfer money to New Zealand.

  • Regulation – always ensure the foreign exchange broker you use is regulated, in New Zealand, for example, brokers must be authorised by the FCA (financial conduct authority)
  • Length of time in business – typically indicating knowledge of the market, number of clients they’ve helped, stability in the market. They are most likely to have helped many other clients transfer money to New Zealand and dealt with many different scenarios.
  • Transfer fee or no transfer fee – especially worth considering when the payments being transferred to New Zealand are small. A transfer fee can typically outweigh the advantages of sending the money to New Zealand via a bank or broker even if the rate offered is competitive. All brokers promoted on Foreign Exchange Live work on a fee-free basis.
  • Online transfer, telephone transfers or both – online Apps are great for small transfers to New Zealand. Recourse can be slow if the money goes astray. Customer service when dealing solely online can vary. Much of this service is via a chat/text box or email. An established foreign exchange broker will operate both an online and telephone dealing service. Meaning you speak directly to an account manager who will be assisted by a back-office team or customer service division.

Find The Right Broker To Transfer Money To Canada

Specialists such as Moneycorp and Rational FX have vast experience in advising and assisting clients all over the globe and saving them thousands of pounds in the process.

  • Customer Service – Banks are cumbersome and hard to contact from overseas. Transfer apps can be convenient for smaller payments, but don’t offer prompt customer support if an issue arises. Foreign exchange brokers offer a consistent service. All clients receive a personal account manager with a direct email address and phone number to enable easy contact and customer service if required.
  • Safety And Security – All top foreign exchange brokers will hold client funds in segregated accounts. All transactions are conducted following the FCA regulations and guidelines, we strongly advise to check with your broker on the exact details.
  • No Expensive Fees Or Charges – Depending on the bank, for each transaction, it could cost anywhere from £10 to £4o or local currency equivalent. A foreign exchange broker will process your transfer to New Zealand with no transfer fees and narrow margin (or spread).
  • Better Exchange Rates – A bank will, as a rule, be making a spread of between 2-6% whereas the rates on offer from leading providers will be around 1%. Once your trade is executed, you will be provided with a deal notification showing clearly the base currency amount and the number of Euros purchased.

Foreign Exchange Contracts

A foreign exchange broker offers several supplementary services not available in banks or on many money transfer apps. These include:

  • Spot contracts – Arranging a transfer and agreeing on a rate and sending the money to New Zealand shortly after.
  • Forward contracts – fix today’s exchange rate for payment up to 2 years in the future. guaranteeing the cost of your purchase and avoiding foreign exchange volatility.
  • Stop-loss – If your currency pair is trending lower a stop-loss protects your currency from depreciating too much, the currency is traded automatically when it hits the agreed level
  • Firm order – target a rate superior to the current foreign exchange market rate. Once the desired exchange rate is reached, the currency is purchased automatically day or night.
  • Option contract – as with the forward contract but also having the ability to opt for a superior rate is the market rate improves. Typically for businesses rather than private clients.
  • Regular international transfers – A payment plan to send money overseas regularly

Documents needed for a foreign exchange broker account

The application to open your foreign exchange account can be completed within minutes. The first step is to apply online giving personal details and a brief overview of transfer needs. Once complete you will typically need to supply the following to get your account approved

  • A valid form of photo ID
  • Recent utility bill or address proof (less than 3 months old)

List of Foreign Exchange Brokers

  • Boutique brokerages such and Newbridge FX offer tailored services to cater to their clients’ needs and work tirelessly to limit their clients’ FX risk.
  • Midsize brokerages such as Rational FX operate both corporate and private client operations with a focus being on key markets such as France and Spain.
  • Large multi Geographic operations such as Moneycorp operate in multiple jurisdictions and have many local offices to best serve their global clientele.

Relocating to New Zealand

Opening a Bank Account in New Zealand

There are many banks operating in New Zealand offering a variety of services. International banks such as Rabobank, Deutsche Bank and Citibank have a presence but New Zealand based banks or those with strong Antipodean links dominate the market. The Bank of New Zealand (BNZ) is a wholly owned subsidiary of National Australia Bank but has operated in the country since 1861 when a branch was opened in Dunedin. Other major banks include ANZ Bank of New Zealand, Westpac New Zealand and ASB Bank which is majority owned by Commonwealth Bank which has a strong Australian presence. Kiwibank is a wholly owned subsidiary of New Zealand Post and offers banking service through a national network of post offices and book stores. ONe you have selected your bank you need to open an account before you can send money to New Zealand, please find the process below…..

In order to open an account in New Zealand, you will need to supply a few details relating to your move to New Zealand

  • The date you arrive in New Zealand – you may need to activate the account or confirm you arrive when you get there
  • The address you plan to reside – in many cases, you won’t be aware of exactly where your next home will be there. Banks are aware of this an may just request the state you plan to live
  • The type of visa you have applied for and the professional sector you’re planning to work in upon your arrival
  • Your projected salary or household income
  • Copies or proof of identity – Banks will almost certainly require a passport number or copy upon application

Naturally, all banks work on different criteria and eligibility but  generally the following rules will apply to whether or not you can successfully open a bank account.

  • If opening an account before arriving in New Zealand, you should look to do so between 3-12 months before you land in the country
  • The majority of banks will only accept applications from applicants over the age of 18. There are exceptions but do your own research well in advance as these compliance and KYC criteria change constantly

Applications can be made online or via phone just make sure you are aware of the time zone you’re calling before dialling.

Important Numbers And Banking Terms In New Zealand

Once you have your new bank account application approved you will need to send money to New Zealand in order to credit your account. Global bank account formats can differ significantly from those in other parts of the world, New Zealand is no different and therefore the following details will be required.

When transferring money from your home bank account to your New Zealand bank account, you will need to provide the following information:

  • Bank account name (your name)
  • Your physical address in New Zealand
  • Your full NZ bank account number (found on your bank statement or online banking account)
  • Your NZ bank address details
  • Branch identifier, if available (i.e. IBAN, NCC, sort code or BSB number)

From Your Local Account, You May Need:

  • IBAN and BIC or home bank credit/debit card details
  • Some banks in the US require a US phone number (check with your bank)

When approaching your foreign exchange broker, you will need to give the following details in order to send money to New Zealand. Similar details will be needed for payments to third parties, these might include your visa agent, rental property owner or agent or car hire company.

  • BSB number
  • Account number
  • Account name
  • Bank name
  • The amount being sent in NZD

As previously mentioned, the New Zealand Dollar (NZD) can fluctuate due to a number of scenarios (here’s why) whilst this volatility can occasionally be a source of frustration and can, in many cases provide a great opportunity to maximise your base currency and gain more NZD Dollars when transferring money.

Benefits Of Using A Foreign Exchange Broker – Send Money To New Zealand

Whilst many banks will be more than capable of helping you  transfer money to New Zealand they remain far from experts in the fields. Banks are large, slow and fragmented and offer a variety of services which dilute their knowledge of private client’s foreign exchange requirements. More importantly, they have a lot of liabilities that customers can default on like mortgages and Fis a quick and easy way to make a profit off the convenience. Therefore, foreigner exchange brokers will not only have a greater understanding of your scenario but excellent pricing when you need to send money to New Zealand. Here just a few of their core benefits.

The Process

Give yourself ample time to open an account with a foreign exchange broker. For security reasons, you will need to send a copy of photographic ID (usually your passport or driver license), as well as proof of residential address to open an account. This should be reviewed within a couple of working days as KYC and compliance checks are performed as standard. Once you account is activated you can transfer money to New Zealand immediately.

Excellent Customer Service Levels

International payments providers and Foreign exchange brokers work with key partners and networks meaning their services are recommended. They often come highly recommended and can be easily followed on sites such as Trust Pilot and Feefo. Whilst Banks will offer a very limited telephone and online service specialists will offer a suite of services including online dealing platforms and apps to ensure your transfer money to New Zealand is as hassle-free as possible.

They will also have dealt with thousands of clients who have also made a similar journey and will be more than aware of the process. The timelines involved and your specific aims, they will also be able to deal with you once you have moved to New Zealand.

Those located in the US will require the services of a US regulated Foreign Exchange Broker. The documents required will be very similar to those needed by a London based foreign exchange broker.  Once your account is activated in the US you can transfer money to New Zealand at ease.

Far Better NZD Dollar Exchange Rates On Offer

Whilst Banks and other institutions still trade the largest volume of Foreign Exchange the ultra-competitive pricing they receive is rarely passed down to the consumer. Put simply Banks still dominate the market and make more than enough money from their market share which makes them reluctant to improve pricing. Whilst some banks are trying to be more competitive at pricing currency it is far from their most profitable products with insurance, savings accounts and other sophisticated investment products proving far more lucrative.

In comparison Foreign exchange brokers work from similar rates to the bank and process so many of these international payments. Despite this, they are no way near the size of banks meaning they are much more agile, processing payments quickly and effectively whilst still remaining competitive in terms of pricing.

No Transfer Fees Or Hidden Charges

Another key advantage of using a specialist is that many will process your money transfer to New Zealand with no international transfer fees. Their segregated account networks can also ensure no charges or fees are taken along the way although this will differ from a provider. Banks will however charge to send money to New Zealand and if you make regular international transfers this will quickly add up.

Secure Payments Provide Ease Of Mind

All payments facilitated through reputable foreign exchange broker will be sent via secure segregated accounts and kept away from their operating funds. You should, however, ensure that they have the correct regulation and their accounts are held with Tier 1 institutions such as Barclays. Providers such as the ones mentioned in this article fit the bill nicely and perform quick easy transfers to New Zealand on a daily basis.

Transfer Money To New Zealand –  Advice Is Just A Call Away

Another Key Advantage Is That You Will Receive A Personalised Service, Your Account Will Be Proactively Managed By An Expert Rather Than A Bank Clerk Who Won’t Be Familiar With The Process Or Currency Pairing.

The expert guidance on offer from a specialist is unrivalled with the live Foreign exchange market at your adviser’s fingertips. They will also be able to structure a strategy which complements your time frame and requirements and can even fix a rate for a future deliverable date allowing certainty and eliminating the risks associated with Foreign Exchange rate fluctuation.

A Word Of Financial Warning: Things To Avoid

Traveller’s Cheques

Expensive and hard to redeem, the length of time to sort out how to use them in New Zealand makes traveller’s cheques an absolute no-no when transferring money into your New Zealand bank account.

Travel Money And “No Fee” Credit Cards

The option of multiple currencies, travel money cards claim to be usable like a credit card anywhere in New Zealand. However, we have found that they are not accepted everywhere and credit card usage fee incurs on each use. Plus, the exchange rates are usually pretty poor.

Many credit cards offer “no fees” when using them overseas. However, this comes at a much worse exchange rate than if you were to simply transfer your money. Credit cards also often incur extra fees (2-5% extra) on many transactions in New Zealand. Over a whole trip, this can really add up.

Cash Tip: for safety reasons don’t carry too much cash (enough for the first week). When arriving in New Zealand with your home currency, make sure to shop around to exchange your cash, as you will find huge differences from one money exchange place to another. Forget using an airport or bank to get or exchange cash!

Best ways to send money to New Zealand?

The best payment method when sending money to New Zealand will depend on your scenario. If you are sending money to top up the same bank account in New Zealand, a transfer app or foreign exchange broker platform could be ideal. Their online trading solutions will allow you to send regular small amounts at your convenience, achieve a  competitive exchange rate and transfer your money to New Zealand quickly. If however you are looking at a more significant longer term transfer, the consultancy offered by a foreign exchange broker can be invaluable. Foreign exchange brokers can keep you up to speed with significant exchange rate changes and provide a number of currency exchange solutions to maximise your money transfer to New Zealand. They are also up to speed with critical financial data which could impact your exchange rate. Foreign exchange brokers offer even more advanced solutions for businesses who regularly send money to New Zealand and need to mitigate risk and protect their bottom lines.

What bank details are needed to transfer money to New Zealand?

If you have already set up an account with a money transfer application or foreign exchange broker you will only require your New Zealand beneficiary details of your bank account or the person or company you are transferring money to. If you haven’t as yet opened an account with a foreign exchange broker or transfer app to send money to New Zealand, don’t worry, the process should only take 5-10 minutes and once approved will allow you to transfer money to New Zealand immediately. In many cases you will require little or no paperwork to get you foreign exchange broker account set up. If you do however require paperwork, the foreign exchange broker will typically request the following: 1 – Valid passport or photo Identification (drivers license or ID card are typically accepted). 2 – Recent utility bill or bank statement (must be at most 3 months old). Larger money transfers of £500,000 or more may require supporting documentation e.g property purchase contract or commercial invoice. Once the account is set up you will then just need the IBAN number or swift code to transfer money to New Zealand.

How long does a money transfer take to New Zealand?

The time taken for your foreign exchange to process, convert funds and funds to clear in an international bank account will depend on whether you use a bank or a specialist foreign exchange broker. A broker will typically be able to complete the process in a maximum of 4 days. If however you have already credited your foreign exchange account, funds can clear in New Zealand on the same day. If for some reason your funds are delayed, a foreign exchange broker can create a trace and provide a document to prove when funds left the brokerage. You can then forward this on to the beneficiary bank to locate funds if they’re unable to. If you decide to transfer your money to New Zealand via your bank rather than a foreign exchange broker or money transfer app, expect the transfer to take a while longer, sometimes up to 6 working days.

What are the cost of transferring money to New Zealand?

The money transfer cost or fee when sending money to New Zealand will vary from bank to bank or foreign exchange broker to another. Banks will typically charge between £10 to 30 to transfer money to New Zealand, however transfers within the EU using the SEPA system should not incur a reception fee. Those outside of Europe could be liable, however many foreign exchange brokers will kindly absorb the charge. The vast majority of foreign exchange brokers wont charge a money transfer fee and generate their profit between the buy and sell rate.  The foreign exchange brokers featured on this site don’t charge a fee to transfer money to New Zealand. If you are charged a reception fee by your New Zealand bank, you should quiz why a charge has been taken. The SEPA payments system should ensure that reception fees are avoided.

Foreign Exchange Brokers


Handling over $10 Billion of FX on behalf of its clients Rational FX is one of Europes leading foreign exchange brokers.


Its global presence allows Moneycorp to service clients all over the world with comprehensive FX solutions benefitting businesses and individuals.


Located in London City Newbridge FX posses a skilled team to best manage your personal and business FX exposure mitigating currency risk.

Frequently Asked Questions

The best payment method when sending money to New Zealand will depend on your scenario. If you are sending money to top up the same bank account in France, a transfer app or foreign exchange broker platform could be ideal. Their online trading solutions will allow you to send regular small amounts at your convenience, achieve a competitive exchange rate and transfer your money to New Zealand quickly. If however you are looking at a more significant longer term transfer, the consultancy offered by a foreign exchange broker can be invaluable. Foreign exchange brokers can keep you up to speed with significant exchange rate changes and provide a number of currency exchange solutions to maximise your money transfer to New Zealand. They are also up to speed with critical financial data which could impact your exchange rate. Foreign exchange brokers offer even more advanced solutions for businesses who regularly send money to New Zealand and need to mitigate risk and protect their bottom lines.
If you have already set up an account with a money transfer application or foreign exchange broker you will only require your New Zealand beneficiary details of your bank account or the person or company you are transferring money to. If you haven’t as yet opened an account with a foreign exchange broker or transfer app to send money to New Zealand, don’t worry, the process should only take 5-10 minutes and once approved will allow you to transfer money to New Zealand immediately. In many cases you will require little or no paperwork to get you foreign exchange broker account set up. If you do however require paperwork, the foreign exchange broker will typically request the following: 1 - Valid passport or photo Identification (drivers license or ID card are typically accepted). 2 - Recent utility bill or bank statement (must be at most 3 months old). Larger money transfers of £500,000 or more may require supporting documentation e.g property purchase contract or commercial invoice. Once the account is set up you will then just need the IBAN number or swift code to transfer money to New Zealand.
The time taken for your foreign exchange to process, convert funds and funds to clear in an international bank account will depend on whether you use a bank or a specialist foreign exchange broker. A broker will typically be able to complete the process in a maximum of 2 days. If however you have already credited your foreign exchange account, funds can clear in New Zealand on the same day. If for some reason your funds are delayed, a foreign exchange broker can create a trace and provide a document to prove when funds left the brokerage. You can then forward this on to the beneficiary bank to locate funds if they’re unable to. If you decide to transfer your money to New Zealand via your bank rather than a foreign exchange broker or money transfer app, expect the transfer to take a while longer, sometimes up to 4 working days.
The money transfer cost or fee when sending money to New Zealand will vary from bank to bank or foreign exchange broker to another. Banks will typically charge between £10 to 30 to transfer money to New Zealand, however transfers within the EU using the SEPA system should not incur a reception fee. Those outside of Europe could be liable, however many foreign exchange brokers will kindly absorb the charge. The vast majority of foreign exchange brokers wont charge a money transfer fee and generate their profit between the buy and sell rate. The foreign exchange brokers featured on this site don’t charge a fee to transfer money to New Zealand. If you are charged a reception fee by your New Zealand bank, you should quiz why a charge has been taken. The SEPA payments system should ensure that reception fees are avoided.

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