How to Send Money from New Zealand to the UK (& Vice Versa)© Unsplash
How to Send Money from New Zealand to the UK (& Vice Versa)

How to Send Money from New Zealand to the UK (& Vice Versa)

© Unsplash

How to Transfer Money from NZ to the UK

Returning from a gap year in New Zealand or for those starting an OE in the UK, many travellers often find themselves needing to send money to the UK from New Zealand (or the other way around). But what is the best method? We compare your options in this guide on how to send money to the UK from New Zealand (and vice versa).

Like all things money, there are several ways of sending it to the UK from NZ. This guide not only compares three of the main ways to exchange NZD to GBP and transfer it to a UK bank account but measures their cost, method and time. It also helps to choose a money transfer method that offers the best rates, has limited fees and offers good customer service.

Of course, the common go-to for those wanting to send money from NZ to the UK has always been high street banks, as it’s a service most are familiar with. However, new online services such as Wise can be up to eight times cheaper than bank transfers. It is one of the methods we compare in this guide on how to send money to the UK from New Zealand.

What is the Best Way to Send Money from New Zealand to the UK?

There are three main ways to transfer money from New Zealand to the UK, including:

  • Cash transfers
  • Money transfer services
  • High street banks.

Each method has its advantages and disadvantages. As discussed in How to Send Money Overseas from a New Zealand Bank Account, sending money via high street banks comes with hefty transfer fees and unfavourable exchange rates. On the other hand, cash transfers don’t offer the same security as bank transfers and money transfer services.

Money transfer services, however, tend to be the cheapest way to transfer money from NZ to the UK with much lower transfer fees than banks. What’s more, money transfer services, such as Wise, are regulated so that your money is secure while in transit and the entire transaction can be carried out online.

With the generally cheaper costs, security and ease associated with money transfer services, the next step is to know how to choose the right company for you.

How to Send Money from New Zealand to the UK (& Vice Versa)©

What is the Cheapest Way to Send Money to New Zealand from the UK?

There are two costs to be aware of when determining how much it is going to cost to send money to New Zealand from the UK: the transaction fee and the fee in the exchange rate. Most only know about the transaction fee and they take this as the total cost.

The reality is the margin on the exchange rate can be equal to or cost more than the transaction fee. With that in mind, it’s easy to underestimate the cost of a transfer. Therefore, when a money transfer service advertises “zero transfer fees” it could still be more expensive than a money transfer service that has a transfer fee but a better exchange rate.

How to Find the Cheapest Way to Transfer Money from the UK to New Zealand

When comparing money transfer methods, determine the amount of money you want to transfer from GBP to NZD (and vice versa). Then, see how much money the recipient would receive using the service’s exchange rate and their transfer fee (if applicable).

For example, if you send NZ$1,000 at an exchange rate of 2.084 GBP to NZD with Option #1, which doesn’t charge an upfront transfer fee, you will receive £2,084.

If you send the same amount of cash with Option #2, which has a better exchange rate of 2.110 GBP to NZD but also has a transfer fee of £5, the recipient will receive £2,105. That’s a difference of receiving £26 more with Option #2 compared to Option #1!

In short, it’s important to compare money transfer methods that have transparent exchange rates and transfer fees. If you can’t find the values to do the equation in the above example, we recommend avoiding the method and, in turn, potentially hidden fees and margins.

Use a service that clearly displays their transaction fees and exchange rates on their website – it usually is a good indication that they have nothing to hide. For instance, it’s easy to work out how much it will cost to send money to New Zealand from the UK and vice versa with a company like Wise because they use a mid-market exchange rate (i.e. do not set their own) and don’t add an extra margin. Plus, you’ll get the cost of the transfer upfront by using the Wise NZ to UK Transfer Calculator.

How to Send Money from New Zealand to the UK (& Vice Versa)© Unsplash

How to Send Money from the UK to New Zealand: Step-by-Step

Now that we’ve established the cheapest way to transfer money from the UK to NZ, how do you do it? With Wise, the steps will be as follows:

Step 1: Create a Free Account

First things first, create a free account on the Wise platform using your email address. Select whether you want a personal or business account, state which country you live most of the time, and provide your phone number to receive a verification code. Type in this verification code and then, create a password. Your account is set up!

Create a free account on Wise now!

Step 2: Create Your Transfer

As soon as you have logged into your Wise account, you should already have the “send” option selected and your chosen currency. Open a new currency to send to.

Step 3: Enter Your Recipient’s Details

When requested to insert your recipient’s details, you will need to have the following prepared:

  • The name of the account holder
  • Physical address as stated on their bank account
  • Bank name
  • Branch name
  • Branch address
  • The appropriate branch identifier, i.e. IBAN (International Bank Account Number), Clearing Code or SWIFT BIC code.

Step 4: Confirm Transfer

You have the opportunity to review all the details of your money transfer between the UK and New Zealand and amend any mistakes.

Step 5: Send the Money to Wise via Your Online Banking

Wise will provide you with the local bank account details to transfer money via POLi, a debit or credit card, or from your chosen bank account. If choosing the latter, login to the online banking profile of your bank and transfer money to Wise. As the funds will not be changing currency at this point, you should not be charged any currency exchange fees by your bank.

Step 6: Once Wise Gets Your Payment, It Will Send the Money to
Your Recipient.


Find out more about the recipient information needed to transfer money from New Zealand to the UK in our guide, What Details Do You Need to Transfer Money?

How to Send Money from New Zealand to the UK (& Vice Versa)© Unsplash

How Long Does it Take to Transfer Money from the UK to New Zealand?

The final consideration for choosing a money transfer method that meets your needs is how long the transfer takes. Money transfer services like Wise and cash transfer services tend to offer the quickest transfer, while bank transfers tend to take a few days.

  • Money transfer services: 2 hours – Money transfer services often quote arrival times in a matter of hours and sometimes offer updates on the movement of your funds. See the latest Wise transfer rate for UK to NZ transfers.
  • Cash transfer services: 0-3 days – They too offer quick arrival times sometimes within hours. However, this needs to be weighed up against the associated security risks.
  • Bank transfers: 2-5 days – The time it takes to receive funds from an international bank transfer depends on the receiving bank, which may go through a network of partner banks before landing in the New Zealand bank account.

In conclusion, it’s a good idea to compare all of your options when it comes to transferring money from the UK to New Zealand or vice versa. After comparing several methods and companies, the money transfer company Wise is a worthy choice for sending money to New Zealand. They also offer excellent customer service.

More About How to Send Money from New Zealand to the UK

That’s it for our guide on how to send money from New Zealand to the UK. For more tips for transferring money, check out the following guides:

Finally, if you’re leaving New Zealand, see our Checklist for Leaving New Zealand After Your Working Holiday.


Laura S.

This article was reviewed and published by Laura, editor in chief and co-founder of NZ Pocket Guide. Since arriving solo in New Zealand over 10 years ago and with a background in journalism, her mission has been to show the world how easy (and awesome) it is to travel New Zealand. She knows Aotearoa inside-out and loves sharing tips on how best to experience New Zealand’s must-dos and hidden gems. Laura is also editor of several other South Pacific travel guides and is the co-host of NZ Pocket Guide’s live New Zealand travel Q&As on YouTube.

Was this article useful?


Recommended For You