Top 5 International Money Transfer Services in New Zealand

International money transfer is a relatively new concept. In the past, it was difficult and expensive to send funds abroad. More recently, technology has simplified the process, and you can send funds anywhere in the world quickly and easily. Banks aren’t the only way to send funds anymore – you can conveniently use money transfer services to send money abroad.


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In this article, we’ll go over the five best international money transfer services in New Zealand. Then, we’ll answer some questions about the subject. Let’s dive in!
Quick Summary:
  • Dedicated account manager
  • 40+ countires supported
  • Highly-competitive exchange rates
  • Highly-competitive exchange rates
  • Zero transfer fees
  • 24/7 support
  • Global secure service
  • Fast & easy service
  • Multiple payment methods
  • Zero transaction fees
  • 55+ currencies supported
  • 24/7 support service

1. SendSend (Best Currency Exchange Rate NZ)

Send (formally SendFX) is based in Australia, but provide global services for money transfers. International money transfers are their primary product. However, their website indicates that they plan on launching other products such as a card, digital wallet, and a loyalty point scheme soon. Be sure to stay tuned!

Rates and Fees

Send is proud to offer no fees for any international money transfer. Most money transfer companies earn money either by charging transfer fees or by a margin on the exchange rate. While Send does not charge a transfer fee, they charge a small margin on the exchange rate like most companies.

Send’s margin is typically less than 1% of your total transaction. That means if you’re transferring 10000AUD, you’ll pay less than 100AUD in transaction fees. Unfortunately, this is how money transfer services make money, however, Send’s transaction fee is fairly low. Some companies may charge over 3% for their services.


Sending an international money transfer takes some time. Instant money transfer services may advertise that their services are instant. In reality, money rarely appears instantly. It usually takes between 1-7 business days for the recipient to receive the funds.

Transfers with Send typically take between 1-2 business days for standard transfers, but you can ask them to rush your transfer for an additional fee.

Safety and Security

Send is a new company, but they have proven themselves to be safe and legitimate. They have a license from the Australian Financial Services.

Send is also regulated by the Australian Securities and Investment Commission. Send states online that keeping their customers’ funds secure is of the utmost importance to them, proving their dedication to safety and security.

Send Quick Summary:

πŸ›οΈ Established2017
🌎 ClientsGlobal
πŸ’± Currencies50+ provided
🏒OfficesGold Coast, Sydney, Melbourne
πŸ“± PlatformsRetail presence, phone service, online service
βš–οΈ RegulationAustralian Financial Services Licence (AFSL) holder
πŸ† AwardsFinnies finalist, Mozo experts choice

🌟ReviewsExcellent, 4.7 on TrustPilot
πŸ’° FeesNo transfer fees
πŸ“ˆ Trading Volume11,000 payments in 2021, trading $270 million in currency in 2021
🌐 Official WebsiteVisit Send


2. TorFXTorFX

TorFX is a leading money transfer company with offices worldwide. They offer both online and phone-based international money transfer services with no fees. TorFX assigns you a personal account manager when you sign up. The account manager helps you through the setup of your account and answers any questions you may have.

Rates and Fees

TorFX makes its profits like any other international money transfer company: Through margins on exchange rates. They do not charge any transfer fees other than this margin. On average, the cost of a transfer with TorFX is between 0.5-2% of your total amount. If you send large sums of money, this margin goes down. Therefore, we recommend transferring large sums with TorFX to avoid high fees.

They do not have any additional fees, but banks may charge you if they hold your funds for any reason. Check with your bank if you incur any charges from TorFX.


TorFX is one of the most competitive international money transfer companies. Although it’s not an instant money transfer, your recipient can expect to see funds arrive in their account within 3-5 business days. The money will reach TorFX’s bank account within the day, but the time it takes to get to the recipient depends on the currency, bank, and more.

Customers of TorFX have commented on the service speed, stating that the money took less than four days to arrive.

Safety and Security

You’ll be glad to know that TorFX has registration in Australia and the UK by the ASIC and the FCA. They adhere to strict security standards, making them one of the safest ways to initiate an international money transfer.



3. XE Money TransferXE Money Transfer

XE Money Transfer is one of the most prominent money transfer services in the world. They operate in over 200 countries and support over 130 currencies. XE Money Transfer offers instant money transfers with a maximum delay of two hours. If you want to send funds quickly and easily, XE Money Transfer is a viable option.

Rates and Fees

XE Money Transfer does not charge any transfer fees to their customers. They do, however, impose a small margin on the interbank rate. This margin depends on the currency exchange rate and how much you transfer. You will not know this margin until you sign up and initiate a transfer. However, the more money you send, the smaller the margin will be.

XE offers a widget on their website that lets you see the live exchange rates. You can also use their website to estimate how much the interbank margin will be. XE does disclose that the market is very volatile, so your rate may change from when you use the widget tool to when you initiate a transfer. However, once you begin your transfer, the exchange rate and margin will not change.

It’s important to note that although XE does not charge rates and fees, the banks involved in the transaction may charge fees.


XE is one of the fastest international money transfer services out there. Although money transfers aren’t typically instant, XE can process money transfers within one or two days. However, the speed will depend on the amount you transfer and the banks on either end of the transaction.

Safety and Security

XE has registrations in New Zealand, the United States, Canada, and Australia. They also communicate with several financial crime enforcement networks. XE wants to keep your money safe from end to end, which is why they’re on our list of the best international money transfer services.



OFX is the service to select if you’re initiating large transactions to New Zealand. OFX offers personal account managers that can help you with the process. As one of the oldest money transfer companies, they have a positive security track record. They also have international locations in Sydney, Auckland, and more.

Rates and Fees

OFX, like the previous two services, does not charge any transfer fees for customers in the United States. Like other services, they add a margin to the exchange rate when you convert your money from USD to NZD. The margin will depend on the currency exchange rate and how much you decide to transfer.

OFX is unique because the more you send abroad, the less you’ll pay to transfer it. OFX has a good track record with over 100 bank accounts worldwide, so it’s unlikely that you’d incur any bank fees on either end of the transaction. Some people have noted that OFX charges a small fee of $15, but this is uncommon.


As one of the most affordable international money transfer services, OFX must slightly compromise on speed. Finances don’t always appear in the recipient’s bank account within 1-2 days like other services. It may not be doable if the recipient needs the funds as quickly as possible. However, if you can afford to wait a few days, we recommend using OFX for large transfers.

Safety and Security

As said before, OFX is one of the oldest money transfer services out there. They’ve been in business for over ten years and have moved more than $80 billion for their customers. They must comply with international anti-money laundering laws and licensing laws, which they do. They’re one of the safest and most reputable ways to initiate an international money transfer.


5. WorldRemit

WorldRemit is an international money transfer service created in 2010 and available in 56 countries. WorldRemit lets consumers send 90 currencies to over 150 countries throughout the world.

Depending on the country combination, recipients can receive funds via direct deposit, cash, or delivery. WorldRemit’s most popular use is for receiving funds via mobile wallets to top off phone airtime, helping families stay connected across the world.

Rates and Fees

WorldRemit can be a good option for international money transfers. The fees depend on the amount of currency transferred, the payout method, and where you’re sending funds. The charges for cash pickup are often higher than using direct deposit. The transfer fees are usually flat, but they may vary depending on how much money you transfer.

The exchange rates also depend on the payout method you choose. However, these are locked in advance, so you know how much money your recipient will receive. WorldRemit charges no other fees, but you may incur fees from your bank or credit card company.

If you send money as an airtime top-up, some countries may apply taxes and reduce the amount of airtime received by the recipient.


Consumers have commented on the speed of WorldRemit and stated that it’s one of the fastest ways to conduct an international money transfer. Money typically reaches your recipient via direct deposit within one day, while cash pickups are instant. Airtime top-ups are near-instant.

Safety and Security

WorldRemit is regulated in the UK by the FCA. They have registrations with the FSPR and the AUSTRAC in New Zealand and Australia, respectively. They’ve also implemented some safety and security features to protect customer data, such as TLS encryption on their website. WorldRemit is more than safe to use when you want to initiate an international money transfer.

Frequently Asked Questions

You have questions about international money transfers, and we have answers. Check out some of the most frequently asked questions below.

How can I transfer money internationally?

If you want to send funds internationally, you should use one of the five services we recommended above. The steps you take to transfer funds internationally are the same regardless of which service you use.

  1. Sign up for an account. Most services will let you sign up online, but some will let you sign up over the phone or from a mobile app.
  2. Verify your identity. No matter the service you use, you’ll need to verify your identity for security purposes. You will need to upload a scanned copy of your ID, passport, or another form of identification. If you can’t produce the appropriate documents, you may need to verify your identity another way.
  3. Finish registration. Once you’ve verified your identity, you’ll be able to initiate your international money transfer.
  4. Initiate the transaction. Log in to the online portal of the service you selected and begin the process. You can also use the company’s mobile app, call the company themselves, or visit an agent near you.
  5. Fill in the recipient’s information. The form for the information about the recipient will include their name, address, and bank account information. You’ll need to provide information about the currency as well.
  6. Fund the transfer. Pay for the transfer using whichever method your service supports.
  7. Keep the transaction number and PIN handy. Once you initiate the transfer, you’ll receive a transaction number or PIN. Give the PIN to the recipient so they can receive their funds in cash.

How long does it take to transfer money online?

The amount of time it takes to send and receive funds depends on several factors, including:

  • Countries you send funds between
  • Payment method
  • Delivery method
  • Money transfer company
  • And more.

The way you pay for the transaction can also affect how long it’ll take the funds to get to the recipient. Typically, a money transfer can take anywhere between 1-7 business days. Use a comparison tool to see which one of the recommended companies is right for you.

How much money can I transfer to New Zealand?

There is no specific limit to how much you can transfer to New Zealand. Typically, banks and international money transfer services will put their own lower and upper limits on how much you can send with them. Check with your service provider to see how much you can transfer to New Zealand.

Final Thoughts

As you can see, transferring funds abroad doesn’t have to be an arduous process. You can use one of the five services we’ve listed above. All of them are safe, efficient, and affordable options for sending funds abroad. It’s just a matter of signing up, verifying your identity, and initiating the transaction.

In summary, our top recommended services are Send and TorFX.


Categories Money Transfer