Transfer money from New Zealand to USA

NZD $277.39 Avg. Saving vs. Banks ?
 

Here are the latest prices for transferring money from New Zealand to USA
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Top 10 Money Transfer Providers

Exchange Rates as of 2018-05-20T23:34:47+00:00

WorldFirst

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Est. 2004
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Amount Received
USD $6,852.89
NZD $289.24
saved vs. banks

Currency Solutions

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Amount Received
USD $6,847.01
NZD $280.74
saved vs. banks

Moneycorp

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Est. 1979
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Amount Received
USD $6,840.80
NZD $271.74
saved vs. banks

OFX (prev. NZForex)

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Amount Received
USD $6,840.80
NZD $271.74
saved vs. banks
Bank Beating Rates

TorFX

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Est. 2004
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Amount Received
USD $6,854.62
NZD $291.74
saved vs. banks
Bank Beating Rates

Currencies Direct

 

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Amount Received
USD $6,833.89
NZD $261.74
saved vs. banks

Smart Currency Exchange

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Amount Received
USD $6,840.80
NZD $271.74
saved vs. banks

RationalFX

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Est. 2005
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Amount Received
USD $6,847.71
NZD $281.74
saved vs. banks

FC Exchange

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Est. 2005
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Amount Received
USD $6,847.71
NZD $281.74
saved vs. banks

OFX Business

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Amount Received
USD $6,840.80
NZD $271.74
saved vs. banks

How to Transfer Money from New Zealand to USA

Summary

New Zealand and the United States have solid political and economic ties, and these drive a steady volume of international money transfers between the two countries. Currently, there is no limit for those who wish to transfer money from New Zealand to the USA. Neither country places restrictions on incoming or outgoing capital flows, beyond reporting requirements under anti-money laundering laws. The US dollar (USD) and the New Zealand dollar (NZD) are both floating currencies; therefore, while the exchange rate may change, NZD may be freely converted to USD at market rates, and vice versa.

Visas, work permits and residency

Citizens of New Zealand who wish to live or work in the United States must apply for the appropriate visa and go through an in-person interview at an American consulate or embassy. Besides short-stay visas, there are also a variety of work visas of varying lengths of stay. The type of visa applied for typically depends on the type of work to be performed. For more information, please refer to the US Embassy website for specific details on visa types.

Buying property in the US

It is relatively easy to purchase property in the United Sates, as there are few restrictions on non-citizens who legally reside in the US and wish to own or rent property. However, there are a few key things to know before initiating a real estate transaction. Any buyer purchasing property in America must first provide an Individual Taxpayer Identification Number (ITIN) in order to for the transaction to be authorised. To obtain an ITIN, the buyer must apply with the domestic tax authorities, the Internal Revenue Service (IRS). Because the ITIN may take five weeks or longer to receive, it is best to apply for it immediately when beginning a property search. Once an ITIN number is received and all the necessary documents have been signed, the buyer can freely transfer money from New Zealand to the US to fund the purchase.

It is also important to know that each state in the US applies its own set of real estate laws. Given the complexity of the legal landscape, it is recommended to work with a licensed real estate attorney or agent, who can advise you on regional and federal real estate laws throughout the process. It is common to use a licensed real estate agent when buying or selling property within the US.

Taxation

In 1983, the governments of New Zealand and the United States entered into a bilateral income tax convention to help citizens of both countries avoid double taxation if living and working in either country. Citizens of New Zealand who reside or earn money in the US must file and pay income taxes, but tax credits may be available with the New Zealand government for taxes already paid in the United States. Each case is different, so it is advisable to consult the relevant documentation and if necessary, obtain the services of a specialised professional. When paying taxes, keep in mind that there are no limitations if arranging to transfer money from New Zealand to the US.

Studying in the US

Before they can apply for a visa to study at an American institution, students from New Zealand must first apply for and be accepted to a US-based school or program. Once accepted, the student will receive the necessary documents from the school to apply for the student visa. Currently, the two student visas offered are the F-1 and M-1 visas. The F-1, the most common type of student visa, is necessary for academic studies at an approved school or accredited American university. Non-academic or vocational studies require the M-1 visa.

Voting

New Zealand citizens are not permitted to vote in American federal elections, nor are they permitted to vote in New Zealand’s general elections if they have lived abroad for more than three years. Currently, voting for US federal office is restricted to American citizens. Although states may allow non-citizens to vote, this is rare and limited to local elections in only a few places today.

Bilateral trade and investment

New Zealand and the United States are partners in the Trans-Pacific Partnership (TPP), which aims to expand job creation and create economic growth throughout the Asia Pacific region and in the US. The two countries also take part in the US - New Zealand Trade and Investment Framework Agreement (TIFA), which seeks to strengthen strategic trade and investment partnerships between them and to increase regulatory transparency. In 2012, two-way trade of goods and services between the two countries totaled US$12bn. New Zealand was the 57th largest importer of goods into the US in 2013, amounting to US$3.5bn, a 1.4% increase from 2012. Foreign direct investment and money transfers from New Zealand into the United States totaled US$1.7bn in 2012, a decrease of 1.5% from the previous year.

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