When you arrive in New Zealand on a working holiday visa, you usually need to send money to New Zealand from your Irish/UK bank account.
Typically you need to send money to New Zealand because you have just opened a new NZ bank account and have to transfer money from your bank account back home.
How to send money to New Zealand
More importantly, how to send money to New Zealand the cheapest way!
Unfortunately many Irish people tend just to do bank transfers as it seems to be the logical option.
What they might not realise is banks take 3-6% on the exchange rate alone.
Charge you a fee for sending it.
So sending that typical €2000 – €3000 when you first arrive in New Zealand could cost you anywhere from €50 – €100++ in charges. Crazy!!
Now multiply that by 5 transfers over a 1 year New Zealand working holiday visas and you can see how it adds up.
So how do you send money to New Zealand?
Easy, use a reputable international money transfer company, we recommend registering with CurrencyFair.
They charge much less than traditional bank transfers methods. Less than 1% to send money to New Zealand in fact.
With them can save up to 90% on money transfers!
Not only that but it is from your local bank to their local bank.
I.E Irish(BOI, AIB, etc.) -> Irish CurrencyFair Account -> Exchange at real and fair exchange rate -> Send to from CurrecnyFair’s NZ account to your New Zealand bank account.
That way there is no “receiving fees” or “middle man”.
So when you receive your money in New Zealand, you receive it in the local currency. NZ$
You get the real exchange rate:
We are not the first to talk about the benefits of using CurrencyFair to send money to New Zealand or abroad. Irish Around Oz and Irish Around Canada also highly recommend them along with a few other money transfer companies.
Some other money transfer companies worth checking out:
- NZ Forex – Free transfer over $1000 for Irish Around New Zealand readers with this link
- TransferMate – $2 transfers instead of $20’s with this link
- Transferwise – Another popular peer 2 peer money transfer company(no special offers with them). Check them out here
- HiFx – Recently bought out the popular Xe currency we mentioned above.
Confused about all this peer 2 peer talk and still wondering how the whole thing works? Watch this video:
It doesn’t take long to set up your CurrencyFair account and once it is set up you can send money to New Zealand or virtually any country in the world.
If you are curious about how much you could have saved check out CurrencyFair’s online calculator.
Their head office is based in Dublin and is fully regulated by the Central Bank Of Ireland.
What do you use to send money to New Zealand?
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Further reading on sending money to Ireland: