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Top 3 Money Transfer Providers for New Zealand to Australia

Provider Amount Received Fee Exchange Rate Speed
OFX (prev. NZForex) OFX (prev. NZForex) AUD $9,408.80 No Fee 0.9409 1-3 days more...
WorldFirst WorldFirst AUD $9,456.32 No Fee 0.9456 1-3 days more...
Moneycorp Moneycorp AUD $9,332.77 No Fee 0.9333 1-3 days more...
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NEW ZEALAND
New Zealandis very open to overseas money transfers and investment Read More
AUSTRALIA
The central bank does not target a specific value for the AUD Read More
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Send money from New Zealand to Australia

Top 9 Money Transfer Providers

Latest prices for transferring money from New Zealand to Australia
Exchange Rates as of 4 December 2020, 04:21

OFX (prev. NZForex)

Est. 1998

OFX in New Zealand provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates.

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Amount Received
AUD $9,408.80
NZD $318.46
saved vs. banks

WorldFirst

Est. 2004

Transparency and security | Great customer feedback rating from Feefo

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Amount Received
AUD $9,456.32
NZD $368.46
saved vs. banks

Moneycorp

Est. 1979

One-off payments | Regular payments | Great rates | Safeguarded customer funds

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Amount Received
AUD $9,332.77
NZD $238.46
saved vs. banks

TorFX

Est. 2004

Excellent exchange rates | No transfer fees | Thousands of 5 star reviews 

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FXcompared Rating
Amount Received
AUD $9,432.56
NZD $343.46
saved vs. banks

Currency Solutions

Est. 2003

Currency exchange specialists ranking No.1 on Trustpilot for the past two years

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Amount Received
AUD $9,417.35
NZD $327.46
saved vs. banks

Currencies Direct

Est. 1996

Great exchange rates | Specialist services | No added fees, 24/7 transfers | Safe and secure

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Amount Received
AUD $9,432.56
NZD $343.46
saved vs. banks

Smart Currency Exchange

Est. 2004
Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
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Amount Received
AUD $9,408.80
NZD $318.46
saved vs. banks

RationalFX

Est. 2005
Established in 2005, RationalFX helps individuals and businesses achieve significant savings on international payments
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Amount Received
AUD $9,418.30
NZD $328.46
saved vs. banks

Global Reach (formerly FC Exchange)

Est. 2005

Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers

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Amount Received
AUD $9,418.30
NZD $328.46
saved vs. banks

How to Transfer Money from New Zealand to Australia

What is in this guide

New Zealand to Australia Guide

Summary

Close geographic and political ties between Australia and New Zealand allows for a free flow of people, goods, services and currency across their national borders. There were more than 640,000 New Zealand nationals living in Australia as of June 2013, according to statistics from the Australian Department of Immigration and Border Protection. There are no restrictions to transfer money from New Zealand to Australia. However, anyone travelling with hard currency worth A$10,000 or more must declare these funds to customs authorities, as required under national anti-money laundering regulations.

Visas and immigration

The Trans-Tasman Travel Arrangement of 1973 allows for New Zealand and Australian citizens to visit, work or study in either country without needing a visa to travel. However, in June 30th, 2013, a Special Category Visa (SCV) was established especially for New Zealand nationals. The SCV allows eligible New Zealanders to live and work in Australia, while retaining their New Zealand citizenship. Interested individuals will need to present a valid passport and an incoming passenger card in order to be cleared at immigration. Each person must also be cleared in a character and health check; if these conditions are met, an SCV can be obtained from a departmental office.

The SCV does not give permanent residence status for New Zealanders in Australia, but allows them to work and live there indefinitely as long as they retain their citizenship. There are particular restrictions for New Zealand nationals who are Australian permanent residents or SCV holders. They are not able to vote in Australian elections, join the Australian army, hold permanent positions in the government or access student loans.

Study in Australia

New Zealand citizens do not require a study permit in order to attend tertiary institutions in Australia. These students are eligible for domestic instead of international tuition fees, but they will not be able to apply for Australian student loans. More information about studying in Australia can be obtained from the Australian High Commission in New Zealand.

Purchasing property in Australia

Citizens of New Zealand are able to purchase property in the urban areas of Australia. However, you should research out the costs and requirements before you transfer money from New Zealand to Australia as these prices tend to be relatively expensive. If you want to buy property in rural areas, you will have to contact the Foreign Investment Review Board (FIRB) for more information.

Money and banking

Australia boasts a sophisticated banking system. Although there are many options to choose from, consider that interest rates can vary greatly between different financial institutions. The major banks in Australia include Westpac, ANZ Bank, National Australia Bank and Commonwealth Bank, some of which maintain branches in New Zealand. Opening a bank account in Australia is a fairly straightforward process; New Zealand natives will need to show proof of an address in Australia, a bank statement and a certified copy of a passport.

Paying tax in Australia

New Zealand nationals who live and work in Australia will only be taxed on income earned within the country. This is irrelevant of whether you make overseas money transfers of salary, profit on investments or remittances. This is the case because New Zealanders are taxed on worldwide income. On the other hand, Australians living and working in New Zealand must pay taxes on income earned within New Zealand.

New Zealand citizens working in Australia will be required to get a tax file number in order to pay taxes. Registration forms for this number may be obtained from the Australian Taxation Office. Without this number you are likely to lose up to 46.5% of your salary as well as individual benefits. How much tax you pay is determined by how much you earn. New Zealand natives may also have to pay the Medicare Levy. The Australian tax system can be complex, so it is recommended that you consult with a certified accountant before preparing your statement.

Medical coverage in Australia

New Zealand nationals plan to reside in Australia for an extended period are entitled to some degree of medical benefits, as well as free emergency care. However, it is advised that you obtain more comprehensive health coverage before leaving New Zealand.

Trade

The economic and trade relationship between Australia and New Zealand is a significant one. Australia is New Zealand’s largest overall trade partner, driving steady international money transfer flows. More than 23% of New Zealand’s exports are destined for Australia. An ongoing free trade agreement between the two countries has helped to encourage the exchange of both goods and services; bilateral goods trade amounted to more than A$18bn in 2013.

Frequently Asked Questions

Are the money transfer companies shown above safe to use?

Yes, all the companies are safe and fully-regulated money transfer services. Each are authorised and regulated by the relevant authority such as the Financial Conduct Authority(FCA) in the UK, FinCEN in the US, FinTRAC in Canada or ASIC in Australia.

How long does an international money transfer take?

The speed of delivery will depend on where the money is being from and to and how you are sending and receiving the money. Transfers sent using bank to bank transfers can depend take anywhere from minutes to days and you should check the time estimates from the relevant provider. Debit and credit card payments sometimes allow for faster transfers for smaller amounts.

How do I use FXcompared?

First review the comparison results (such as for a table above) for a given amount of money sending from New Zealand to Australia. Then select a provider based on factors such as price, speed, their rating and click the green button to be taken to their website. From there, you can register and sign up for an account. Once you have done that and the provider has verified your identity to ensure the money can be send safely, you will be ready to transfer money.

What payments methods can I use to send money overseas?

The results shown above are typically for bank to bank transfers. It is possible via some providers to pay in your funds for the transfer via cash, debit or credit cards as well but this is usually reserved for smaller amounts. Some providers also give you different options for how the money will be received - to a bank account (most common), to a debit card, to cash or to a digital or mobile wallet.

What if the price shown above isn’t exactly what I am offered when I try to transfer money?

There can be a number of reasons why the final price you are offered may be different to that shown in the table above. Exchange rates between two currencies change all the time and is the most common reason. Additionally, some providers offer different pricing depending what method you are using to send funds or how the funds will be received. Others may offer you a premium service for faster payments. In some cases FXcompared has a special rate with a provider and this is reserved for first time customers who sign up to the provider starting from FXcompared’s website. As prices do change often, be sure to confirm the total cost with the provider before transferring money.

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All the providers listed are regulated by the relevant authority (e.g. the FCA in the UK, FinCEN in the US, ASIC in Australia) and have been vetted by FXcompared.

FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.