Transfer money from New Zealand to Australia, using NZForex and XE

How to Get the Best Exchange Rate on Every Money Transfer

Transferring your money from New Zealand to Australia is a big deal. It is important to use a trusted foreign exchange partner and make sure you get the most money possible from your money transfer. From our research, online money transfer companies give you the best rates with less margin and no fees.

Below you will find information on the below:

Editor's Note: We started off using our bank to transfer money to Australia from New Zealand, but got told by a friend that it is much cheaper to use an online foreign exchange company. I compared the costs and were surprised at the difference. We got the best possible rate for every transfer, with a way lower margin than the bank and did not get charged a fee, I was paying $25 with an extra 5% margin on the rate.

We personally used NZForex (now OFX) for 10 years and successfully referred 100's of clients to them and never received one complaint. They are a great company.

We have recently partnered with XE Money Transfers. They are worlds most well known and trusted FX company. XE's clients funds are held on trust in segregated client accounts. This is unique to XE and ensures that client funds are safe. Peace of mind! We loved this, so thought what's the harm in offering two great companies and letting you decide who to use.

How to get the most from your money transfer?

Learn how to transfer money easily without wasting a fortune of fees and charges.

International bank to bank transfers cost more and take longer. You will save at least $50 when you use an online foreign exchange specialist, like XE or OFX.

To give you an idea of how much you could save, XE have done a recent comparison with three New Zealand major banks for a $1,200,000 NZD / AUD transfer. Depending on which bank you use, XE would have saved you between $9,070 and $25,870.

**This comparison was made on 21.08.17, by speaking to the foreign exchange teams at 3 of the leading banks.

See how much you could save... Join XE now!

First Step: Analyze Transaction Fees

Online foreign exchange companies either don't charge fees or will wave fees in our case. Banks charge fees to transfer your money overseas (usually $10-$25)

Below is a comparison of the main foreign exchange companies that transfer New Zealand Dollar and the Australia Dollar. The table compares international money transfer rates, services, speed, min transfer and the online transfer fee.

Name Min. Transfer Speed Services Online Transfer Fee
NZForex (OFX) NZD 250
1 day Online, Phone, Bank Account to Bank Account NZD 0*
XE NZD 0 1 day Online, Phone, Bank Account to Bank Account, APP
NZD 0*
World First NZD 2,000 2 days Online, Phone, Agent NZD 10.00
fc exchange
NZD 3,000 1 day Online, Phone, Bank Account to Bank Account NZD 10.00
HiFX NZD 50 2 days Online, Phone, Agent NZD 15.00
Bank Average NZD 0 1 day (extra $25) Online, Phone, In-store NZD 15.00-25.00
* The online transfer fee is wavered if registered through our referral link. Link on logo above.

Second Step: Get to know Exchange Rates

Get better rates from a specialist FX provider. Banks add a margin on top of the exchange rate they give you that increase's the cost of the overall transfer by 2-5%. Money is money, it's better in your pocket than the banks.

Rates change daily so if you want to get the most form your FX transfer, start researching the transfer rates and discover what is a good rate and average rate.

The easiest way to do this is register with a FX online provider like XE or OFX and download their app and get live exchange rates. This way you can easily check the exchange rates and get to know what is a good rate and average rate. Do this now so you know what your doing when it's time to make the transfer.

You can also study the XE Currency Charts.The Charts let you see a pair's currency rate history for up to 10 years! XE uses highly accurate, live mid-market rates. Below I've compared NZD to AUD on the XE website and got the below including low and high rates:

2 Mar 2008 00:00 UTC - 27 Feb 2018 22:41 UTC
NZD/AUD close:0.92908 low:0.72610 high:0.99620
View here:

Third Step: How to Transfer

There are a number of options on how to make a transfer. Different options suit different people better:

  • Online
  • Phone
  • Account to account
  • Using an app
  • Agent

How does online foreign exchange/money transfers work?

  1. Register Online (XE or OFX)
  2. Lock-In your transfer - how much are you transferring, which currency and who to send it to.
  3. Send your funds - make a bank transfer from your account (e.g. online banking electronic bank transfer or BPay).
  4. Money is delivered - most transfers take 1-2 business days. You can track your transfer with OFX or XE online or on their app.

Both XE or OFX have fantastic customer support teams. They are always available 24/7 to answer any questions you have or give you advice on making the most from your money transfer. You can call them now on the numbers below. Please make sure you tell them that you heard about them through Moving to


Add comment


+1 # ANSWER: Should we convert cash after property sales or purchase from NZMTA Team 2014-04-29 07:15
Hi Maxine,

Thank you for your enquiry.

New Zealand citizens are exempt from the requirement to obtain approval from the Australian Foreign Investment Review Board (FIRB) before they purchase an urban property in Australia, so it is possible for you purchase while in NZ.

However, I am unsure of if you would still need to transfer your money to Australia to pay for the home. I recommend calling an Australian agent and asking them, as they will be able to tell you the best way for you to buy a home in Australia based on your circumstances.

Regarding transferring your money to Australia. You will save a lot of money if you use a foreign exchange company rather than your bank and it is easy to setup and make transfers. I recommend using NZ Forex for your foreign exchange as I have used them and now a number of our clients. You can register using this link:, or find out more about the benefits of using NZForex by clicking here:

I have lived in Brisbane and it took us three months to discover what suburb we wanted to live in, so you do need to take that into consideration. It's a lovely city. You will love it.

Please let me know if there is anything else I can help you with.
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0 # Should we convert cash after property sales or purchase from NZMaxine 2014-04-29 07:12

My family is thinking of moving over to the Brisbane area and we well be selling 2 properties in NZ so we can purchase in Australia is it easier to purchase from NZ as an overseas investor or is it better to have all the money exchanged over to AUD and purchase when there??

Thanks Maxine
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0 # Highly Recommend NZForexDesiree Prendergast 2012-11-19 09:19
I just wanted to say thanks to NZForex for helping me transfer money internationally . I was recommended them by ausmove and from beginning to end it was a straight forward and easy process, plus someone was always on hand to answer any questions. I will be recommending NZForex to anyone who needs to transfer money around the world.

Thanks again.
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0 # ANSWER: Transfering money to NZ regularlyMTA Team 2012-11-07 01:16
Hi Hilton,

Thank you for your comment.

Yes Commonwealth would be able to help you with that, but I recommend you setup an account with NZForex, as they will save you a lot of money on transfer fees and margins.

They have an Australian division OZForex, so you will be able to deal with customer service in Australia when there.

More information on NZForex:

Benefits of NZForex:

Setup a free no obligation account with NZForex:

However, Commonwealth are a fantastic bank and you will need an Australia account either way. We bank with them and we love their high level of customer service, which is not standard in Australia, like NZ.

If you have not already setup a bank account in Australia, please fill out the form on the top right side, as this will save you time and stress on trying to do it over there:

Good luck with your move and please let me know if there is anything else I can help you with.

Kind Regards,
MTA Team
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0 # Transfering money to NZ regularlyHilton 2012-11-06 11:32
I am moving over to Sydney in the next 2 weeks and I need to be able to transfer funds over to NZ easily.

Does the commonwealth bank cater to this? ie. I want to go online transfer over to NZ and have this done on a weekly basis...

What are the additional costs for this service?
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