Best Method for Transferring Money to New Zealand?

Austin 316 on 12/10/2017 - 11:08
Last edited 12/10/2017 - 11:21 by 1 other user

Hi all, I need to transfer some money to a friend's ANZ account in New Zealand. I was looking at the best (which means cheapest and reliable in terms of OzBargain) mode of doing this transfer. So far I have narrowed down to the below 2 options:

  1. HiFX International Money transfer - 1st preference as it allows 1st transfer for free. Never heard of them before though.
  2. Transferwise - 2nd preference as have heard of them before through my friends.

What are your thoughts on this? Have you had any past experiences (good or bad)? Please also suggest if you know of a better way for doing the transfer.

Thanks in advance.

Financial

Comments

  • toomuchdogfur on 12/10/2017 - 12:22
    +1

    I'll throw a vote in for TransferWise - use them regularly with no problems. They're the only service I'm aware of that is upfront about their fees instead of bundling them into a crappier exchange rate, which I respect. All the other providers I looked at advertised a better rate on comparision sites, but that special rate was only for the first transaction… subsequent ones had worse rates than TransferWise did.

    BTW you can get the first transfer free by referral: https://www.ozbargain.com.au/node/333640

  • CLoSeR on 12/10/2017 - 12:34

    Citibank Plus account customers can transfer funds internationally for no fee and rates are not too bad. Transferwise is a popular one now and rates probably better, I only used Citibank in the past for ease of use as an existing customer.

    • DaTa on 15/03/2018 - 15:55

      Yeah Just found out today the rates were better than Worldfirst and alot of the other FX transfer places and the lack of fees makes it good, Also not having to transfer money to the FX company then onto the recipient thus cutting down the transfer time.

  • hamcool on 12/10/2017 - 18:54

    Transferwise for ease of use. I transfer money every couple of months, and have ended up on transferwise. For ease of use and price they seem to be the best I reckon.
    And as toomuchdogfur says, use the ozbargin referrals, and you will get a free (or sometimes a cheaper rate) first go.

  • jonnoyeo on 13/10/2017 - 08:47

    Recently used Transferwise, can't fault it!!! Was super impressed.

  • Austin 316 on 13/10/2017 - 08:48

    Thanks for the replies. I will also go with Transferwise (as it seems the obvious choice of OZB's) and will use a referral to get my 1st transfer for free :)

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