If you are planning a trip overseas you will probably need to buy some cash in the local currency for day-to-day expenses such as taxis, food or drinks. It can make sense to try and transfer larger amounts less often (instead of smaller amounts frequently), to help save on transaction costs and cut down on fee percentages. If you plan ahead and do your research, transferring money can be very affordable. Money Compare can help you shop around and compare services to find a better deal. The more favourable the exchange rate, the better value for money you get and the more cash will arrive to the recipient. When making an international transfer, a competitive exchange rate is crucial. When you want to send money overseas, you will need to convert your New Zealand dollars into the local currency at your money transfer destination, for example New Zealand Dollars to British Pounds. For example, 1 New Zealand Dollar (1NZD) may be worth 52 British Pence (0.52GBP). What is an exchange rate?Īn exchange rate details the value of one currency in relation to another. It’s important to compare both the transaction fee and exchange rate before making a money transfer, as a lower transaction fee may be accompanied by a poor exchange rate which negates any saving. A small mark up on the exchange rate – this amount will vary between transfer providers The transaction fee – this is often a flat rate, or varies depending on how much you transfer and how quickly you want to transfer it. There are 2 ways a transfer provider makes money on your transfer: Your transfer service will deposit your funds into your destination account Transfer the funds you want to send using the bank account details from your transfer companyĦ. You may need to email a copy of your ID to be approved for your first transactionĥ. Input the amount you wish to transfer and the transaction detailsĤ. Register with the service of your choiceģ. Use Money Compare to compare the different money transfer deals and click ‘visit site’Ģ. When you send money overseas using a money transfer company, you will typically follow these steps:ġ. You provide funds and your recipient’s details to a bank or international transfer provider, who exchanges the money into your desired currency and then send the money to your recipient in another country.
Money transfer services are often provided by banks or an independent transfer provider. Fees and exchange rates can all eat into the amount of money you are transferring.Ĭompare money transfers What is a money transfer?Īn international money transfer allows you to send money to a recipient in the same country or internationally. There can be big variation in fees, minimum transfer amounts, transfer speed, exchange rates and destination countries. Money Compare can help you compare New Zealand’s top money transfer services to find the one that suits you best. Whether you need to send money back home, or make an overseas payment for personal or business reasons (stock orders, or paying an employee based overseas) you need to get the best deal on your money transfers. Taking the time to compare currency exchange and money transfer offers can help you get the best deal.Ĭompare Money Transfer deals Compare Currency Exchange deals There can be variations in exchange rates and fees, and these can all eat into the money you are exchanging or transferring. We will never add fees or commissions to the travel money rates you see on the site.Money Compare can help you compare the main currency transfer and foreign exchange companies in New Zealand to find the deal that suits you best.
Currency compare update#
✓We constantly update our exchange rates as they change for each money exchange supplier, and whilst we try to do this in almost real-time, there will be times when our data is slightly out of date (in normal circumstances not more than 1 minute).✓Our mission is to show you the best rates so you can save when buying your travel money.✓To ensure our independence, we always use transparent, objective and verifiable criteria in our comparisons.✓Compare Travel Cash is a non-bias travel money comparison site.
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