Before you jump straight in and transfer money to New Zealand, have you researched your options and made sure that you’ve chosen the best one for you?
High street banks can look like an obvious way to transfer New Zealand dollars, but their services tend to come with unnecessary costs. You will not get the most competitive exchange rate through your bank and you will usually have to factor in extra expenses in the form of per-transfer fees.
However, you will get a secure service in return and using a bank can be quite a convenient way to transfer money to New Zealand if your recipient has access to an account in New Zealand, with Kiwibank or the Southland Building Society for example.
If you need to transfer money to New Zealand to somebody who does not have access to a bank account, however, Money Sending Bureaus could be more suitable.
These are small establishments visible on most high streets and shopping areas of major cities. They tend to be poorly regulated and impose high per-transfer fees of between ten and 15 per cent.
But they will allow you to move money without going through a bank, allowing your recipient to pick up the New Zealand dollars from a corresponding bureau.
If you don’t want to pay high transfer fees then Xendpay can offer you a cheaper way to transfer money to New Zealand.
Indeed, we offer a low fee service that also comes with some of the most competitive New Zealand dollar exchange rates on the market.
Why not open an online account today for free and see for yourself exactly how much you can save if you transfer money to New Zealand with us?!