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Thread: Best way to transfer money to NZ

  1. #1
    prem80uk is offline Junior Member
    Join Date
    Nov 2009

    Default Best way to transfer money to NZ

    Just got PR approved in principle. Thinking of selling our house but don't know what is the best way to transfer the money to NZ. A few agents been calling regarding this but we are not sure how to go about doing it . Can anyone help??

  2. #2
    Taffy's Avatar
    Taffy is offline He who shall be ignored
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    May 2004
    Hamilton, NZ
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    Hi, the best way is usually through an FX company such as WorldFirst. They can offer better rates than the banks and can usually process the transactions pretty quickly. Send an email to and he'll be able to give you some great advice.

    The greatest mistake you can make in life is to be continually fearing you will make one.

  3. #3
    Cliff's Avatar
    Cliff is offline Oh Masterful One
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    Apr 2008
    Nelson, NZ
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    Any bank can send a wire to an NZ bank via SWIFT. The thing is check the rate as on big sums this can amount to a lot. It is basically sent electronically overnight or can be in a few hours if the banks are online to swift or uses an intermediary. They may change you 10 pounds or less. The fee isn't the issue the rate is. Most will only quote you a rate good for the next few minutes. The longer the rate is good you can bet the worse the rate. You could send it in GBP and receive it in GBP at the nz bank if they support it (not all NZ banks do) and then convert it to NZD when there is a favorable exchange rate. I'm a day trader have traded currencies/forex so I could pick a better time to convert it.


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  4. #4
    Aubry is offline Junior Member
    Join Date
    Sep 2010

    Default money transfers

    Banks and brokerage houses such as Forsyth Barr allow you to set up foreign currency accounts so the money can stay in the home currency but be shifted to NZ. You can then set a rate on the board that will trigger the transfer when that rate is hit. This gives you greater power over the rates, and ensures you'll be happy with the rate you receive.
    If you need the money right away and are shifting over $100k NZD, any bank will allow you to be quoted the wholesale rates.

  5. #5
    nickydwuk's Avatar
    nickydwuk is offline God like figure
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    May 2007
    Was Oxford nr Chch, NZ now UK
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    We used Hifx - they are able to give you a rate on the phone and you can set that or set a rate further in advance but run the risk of it getting worse. They do not charge a fee but it can take about 5 days for the money to arrive the other end.
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