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How much does it cost to send money to New Zealand?
Sending money to New Zealand can be more affordable than you might think. However, understanding the fees can be confusing. This confusion arises because money transfer providers make money in different ways. They can charge transfer fees, mark up the exchange rate, or do both simultaneously.
Let's imagine you want to send $1,000 from the United States to New Zealand.
After analyzing the 20+ providers in our database, we have found that your best option would be to send money with TorFX via bank transfer. They charge no fees, and provide an account manager to help you with your transfer.
Mid-market rate versus markup
The mid-market rate is the average between the buying and selling prices of two currencies. It fluctuates over time. The markup is the additional amount charged by the provider above this rate.
At MoneyTransfers.com, we make it easy to compare rates by providing the updated exchange rate markup for each money transfer provider. Additionally, you can review fees, transfer times, and read customer reviews.
Best services to send money to New Zealand
When choosing a method to send money to New Zealand, you'll want to consider factors like convenience, cost, and transfer times.
TorFX focuses on providing great customer service, no fees, and fast transfer times to and from New Zealand.
Wise offers the fastest transfer times, so you can send money to New Zealand quickly. They also offer the mid-market exchange rate.
XE prioritizes keeping the costs down, with no fees for transfers above $500.
Use our data to find the best options for you and discover the money transfer providers that offer the exact service you need.
The suggestions below are created by combining data from thousands of real-life searches that were conducted on MoneyTransfers.com by individuals who, like you, wanted to send money internationally to New Zealand.
Overall, TorFX is the best way to send money to New Zealand. They have low, transparent fees and offer the mid market exchange rate.
This isn't just our opinion, this is based on thorough analysis of the benefits, costs, and speed of using TorFX for your transfers.
Cost: TorFX doesn't charge any fees for their transfers, they make their money by adding a markup to the exchange rate.
Speed: TorFX is one of the fastest providers on the market. Transfers to New Zealand with TorFX in a few working days.
Great customer service: When you sign up to TorFX, you'll be given a dedicated account manager to help you manage your transfer.
Wise has been a leading provider of swift international transactions to New Zealand for the past six months. If you prioritize speed, Wise is an exceptional choice as transfers are often completed within a few hours.
This service is a great option for those seeking to minimize fees, especially for regular international transfers. Their multi-currency account simplifies the process, ensuring convenient and fast money transfers. Leveraging Wise's extensive network, this feature ensures that your funds reach New Zealand quickly.
One key aspect that sets Wise apart, highly valued by users, is their transparent fee structure. They charge a percentage of the total transfer amount, in addition to a nominal fixed fee. This approach eliminates concerns about hidden costs or inflated exchange rates.
Wise always uses the mid-market rate for currency conversion to NZD, ensuring fairness and transparency in every transaction.
Watch our video review of Wise
XE is the cheapest way to send money to New Zealand, based on our research.
A key benefit here is the lack of fees for transfer amounts over $500. This makes them widely recognized for larger transfers, but they come out ahead on some smaller ones too.
Check out our review for more details on XE's main benefits.
Need more options? Compare ALL rates
Get more for your money: compare and choose from over 20 money transfer providers and find the top options to send money to
What is the cheapest way to send money to New Zealand?
Money transfer services are the cheapest way to send money to New Zealand
Whether you need to send money to your loved ones in New Zealand, pay for tuition fees, or send large amounts of money to invest in a property, money transfer services help you avoid bank charges and processes.
The exact cost of sending money to NZD can be influenced by factors like:
The country of origin
The amount you need to send
The payment method you select
The current exchange rates
Our comparison engine helps you find the best deal for your transfer by comparing the exact costs of all the most reliable money transfer services on the market in 2024.
USD to NZD Live Exchange Rate
Sending money to another country requires an understanding of exchange rates. An exchange rate can be compared to a constantly changing price tag that indicates the value of your currency in relation to another country's currency, in this case New Zealand's NZD.
A favorable exchange rate means that you will receive more foreign currency for each unit of your own currency, making your transfer more effective.
Use the tool on this page to get the latest exchange rate for your currency to NZD. It's pre-set to USD but, if you're dealing with different currencies such as Euros or Canadian dollars, you can easily adjust the settings and get the values you need. This helps you know exactly how much money will arrive in New Zealand when you send it.
Expert Tip: Watch the Exchange Rate
Did you know you can save money by keeping an eye on exchange rates? If you're not in a hurry to send money to New Zealand, watching how the rates change can be smart. When the USD to New Zealand Dollar rate is good, your money will get you more in New Zealand. This means you can send more money without spending extra!
Sign up for our automated notifications. We'll let you know the best time to send money. With these alerts, you won't miss out on a great rate. It's like having a money-saving expert in your pocket!
How long does it take to send money to New Zealand?
Quick and efficient - that's what you need when sending money to New Zealand. Money transfer services offer a great solution to those times when speed is of the essence, as their transfer times tend to be much shorter compared to banks.
Take, for instance, an urgent need to transfer $1,000 from the USA to New Zealand. Services like Wise excel in this regard, offering near-instantaneous transfers. Even other providers like TorFX and XE, while not as fast, ensure your money arrives swiftly.
Bear in mind that speed, like costs, can be influenced by:
The amount you're transferring. Smaller sums often move through the system quicker, while larger amounts may face delays due to necessary security verifications.
The time you start the transfer. To maximize speed when you send the money via bank transfer, initiate the operation before your bank's cut-off time. Miss this, and your transfer gets postponed to the next business day.
How to send and receive money in New Zealand
Sending money to New Zealand, is easy, especially when you gather the necessary documentation, and meet all legal requirements. To help you avoid unnecessary complications and delays, we have compiled a simple step-by-step process.
Transfer limits in New Zealand. There are no legal limits on how much money you can send to New Zealand.
New Zealand tax laws. In New Zealand, you’re taxed on your worldwide income. In other words, all income you earn, whether in New Zealand or another country, is subject to tax. This includes money earned from the sale of a property, pension payouts, interest on foreign bank accounts, and profits from shares and investments.
However, New Zealand has double taxation agreements with lots of countries, including Australia and the US. This means you should only need to pay tax once on any earnings you make in these countries.
A full list of countries New Zealand has these agreements with is available on the New Zealand government website.
Gift tax is not usually payable in New Zealand, and the recipient does not have to report the gift as a form of income.
What do you need to complete an international transfer to New Zealand?
When you open an account with a money transfer service, you will be asked to provide your personal information. Before the transfer is executed, you will also need to share the necessary details of your recipient.
Your contact details
You will need to share your contact details with the provider of your choice, so make sure to double check your email and address are correct.
Photo ID
Money transfer services will need you to share a photo ID to confirm your identity. Have it ready and make sure it's valid.
Proof of address (optional)
Some providers may ask you to share a phone bill or a bank statement to prove your address.
New Zealand money transfer guides
Financial regulators in New Zealand
The Financial Markets Authority is responsible for the accounting standards of banks and other financial institutions.
Analysis and methodology
At MoneyTransfers.com, we're not just another comparison site; we're your ally in beating the high costs and complexities of international money transfers. Our platform is designed to turn the tables on overpriced banks and providers, ensuring you get the best deal every time.
What sets us apart
Unmatched Transparency: We believe in honesty and clarity. With us, what you see is what you get - no hidden agendas, no preferential treatment for providers.
Comprehensive Provider Network: We go the extra mile to include an extensive range of providers in our comparisons. From industry giants to innovative newcomers, we partner with a diverse array of trusted providers, ensuring you have access to the best options available.
Tailored Solutions: We understand that every customer's needs are unique. That's why we offer personalized recommendations based on your specific requirements, ensuring you find the perfect match to send money to New Zealand.
The results displayed on this page are based on data we collected via our comparison engine during the past six months and show you a simple way to get the best fees, fastest transfer times, or most helpful customer support.
