Transferring money abroad can be quite the hustle if you don't choose the accurate mode of transfer or even if you fail to choose the perfect service provider. Therefore you should be aware of the different rules and regulations attached to it to make the transfer from GBP to NZD.
Similarly, when considering how to send money to New Zealand from the UK, make sure you are well aware of the important factors like exchange rates for sending GBP to NZD, fees and charges, convenience, and benefits offered by your service provider. Moreover, consider the reputation of the chosen money transfer provider, tax clearance, and transfer speed.
Commonly, there are three different ways of sending money to New Zealand. Likewise, we have discussed it below:
Online money transfer
This is the most common and widely used way of international money transfer whenever the question of how to send money to New Zealand from the UK arises. It is very easy, and as a sender, you are simply required to register and log in to move your money wherever you need to.
With the help of an app
Most foreign money transfer providers have an app these days. In general, this app is registered with your bank account. All you have to do is click on the start transfers option to send money to New Zealand from the UK.
Send money in person
In both cases mentioned above, having a bank account is mandatory; however, when sending money in person, there's no such compulsion. Moreover, when availing of this mode of transfer overseas, ensure that your service provider has the advantage of physical location transfer.
When making a transfer from the UK to New Zealand, follow the steps mentioned below to get it done in the easiest possible way.
Step One
Sign up by providing the required details (ID and password) on your chosen service provider's platform. In case you are not a member already, opt for registering instantly. Completing this process successfully will take less than 5 minutes.
Step Two
Provide all details as required. In general, both sender and receiver information is needed. Receiver details include the name of your recipient/ receiver in New Zealand, their New Zealand address, bank name, bank account number, and SWIFT/BIC code. Similarly, the same information from your (sender) end will also be required.
Step Three
Confirm and send. Once you have provided all details, double-check it and confirm the same. Next, wait till you get a confirmation of the transfer.
Now that you know how to send money to New Zealand understand the following factors cautiously to get the transfer done flawlessly.
Understand the exact cost of sending money to New Zealand from the UK
This is one of the critical factors to consider if you are not willing to get burned down by the cost of the transfer. The exact cost of the transfer depends on your chosen service provider; every transfer is unique, and so is its cost. Therefore, you should compare international money transfer services on the additional charges and the exchange mark-up rates before striking a deal.
Both these charges add up to the cost of each transfer from the UK to England and determine the final amount your recipient receives.
Keep handy all details about your receiver
Before starting the process, gather all essential documents and information about your recipients, such as their bank details and bank account number. One major benefit of keeping all details about your receiver handy is that it speeds up transferring money from the UK to New Zealand.
Transfer money to any of the major banks
Make sure that your transfers are made to any of the major banks in New Zealand. The sole reason behind this is that it guarantees fast and secure transfer.
Choose to send money from your bank account directly to the receiver's bank account in New Zealand. Bank transfers from the UK to New Zealand are the cheapest compared to the other modes.
Furthermore, in most cases, foreign money transfer providers offer you a free estimation of transferring funds before you send it. Use their free online international funds transfer calculator to understand the exact cost of sending money from the UK to New Zealand.
When planning how to send money to New Zealand from the UK regularly, get it done seamlessly through the account you opened with your foreign money transfer provider.
Essential data required for sending money to New Zealand from the UK
When transferring money to New Zealand from the UK, you will need the following information.
1. Beneficiary Name - It refers to the name of your receiver or recipient living in New Zealand.
2. Beneficiary Account Number - The account number of your recipient or receiver in New Zealand.
3. Swift Code - It stands for "Society for Worldwide Interbank Financial Telecommunication". This code is essential in the case of international transfers as it is the messaging network between two or more financial institutions that inform one another about the occurring financial activities. SWIFT makes international money transfers seamless and effortless.
4. Bank Name - The bank name of your recipient's bank is essential when transferring money to New Zealand.
5. Reason for Transfer - The reason for this money transfer needs to be mentioned and must be valid, like for meeting expenses, funding education, gift, or maybe donations.
Essentials to check on your service provider's end
Ensure that you are well aware of the below-mentioned factors when choosing your foreign money transfer service provider.
Exchange rate
In general, the exchange rate is the value of your currency in comparison to that of the home currency of your receiver. In this case, it is how many euros equal to how many more New Zealand Dollars. As of November 2022, One Pound Sterling = 1.93 New Zealand Dollars.
However, your service will charge an exchange mark-up rate, the normal exchange rate + additional rate. They charge this extra rate for their profit earnings and for pinning a hole in your pocket.
Online convenience
Do not forget to check out how convenient their online payment portal is and also ascertain that it is 100% secure and generates 24/7 service. As it is mainly an online activity, make sure you discuss all security-related concerns and understand the entire transfer process beforehand.
Transparency of the process
Transparency is another prime concern when you choose international transfer of funds. Ensure that your service provider is not hiding anything and practises a 100% fully regulated service accredited with relevant bodies and jurisdictions.
Reliable customer service
If your service provider has an efficient and friendly customer service team, you receive an additional benefit. They can offer you the needed assistance with your queries as and when you need it.
The bottom line is, transferring money from the UK to New Zealand today is simple, easy, and available with the same-day transfer. As every transaction is different from the others, the only thing that you must do minutely is to choose a foreign money transfer service provider cautiously. Take into account all the details mentioned above of how to send money to New Zealand from the UK and other additional details to unlock successful transactions every time. And if you are looking for a reliable partner, then the Currency Club is the one.
We have made every effort to ensure that the information published here is correct and accurate, however you should check and confirm the latest exchange rates with The Currency Club directly prior to making a decision. The information published is general and does not consider your personal objectives, financial situation or particular needs. Full disclaimer available
The Currency Club's officers, employees, representatives or agents shall not be held liable for any damages or injury resulting from your access to, or inability to access this internet site, or from your reliance on any information provided on this site or any accompanying literature or documentation.
The information and material provided on this site has been collected on a best efforts basis and does not constitute an offer to sell or the solicitation of an offer to buy, any currencies or securities and must not be relied upon in connection with any investment decision.
Whilst we take reasonable care to keep the information on the website accurate and up to date, there may be occasions when this is not possible and figures, fees etc are all subject to change. All facts quoted about 'The Currency Club' on the website are in relation to group statistics and not individual subsidiaries, unless otherwise stated.
Blogs including examples or case studies are provided for your information only and are not intended to predict future moves in exchange rates.
If you are in any doubt as to the suitability of any foreign exchange product that you are intending to purchase from The Currency Club, we recommend that you seek independent financial advice first.
Telephone calls are recorded for training and quality assurance purposes.
The Currency Club makes no representations, warranties, or assurances as to the accuracy or completeness of any information derived from third party sources.
The information and material provided on this site may not be reproduced or distributed, in whole or in part, without the prior written consent of The Currency Club.
Overview
Faq
Reviews
Back to home page