i need help transferring money from uk to nz

I need help transferring money from UK to NZ

We assist many Britons and New Zealanders in the United Kingdom to transfer money from the UK to NZ.

Selecting a service to transfer your hard earned British Pounds to New Zealand Dollars can be a daunting task. In this article we will discuss what you need to keep in mind when selecting a money transfer company and outline the benefits of using our services.

What should I look at when selecting a money transfer company?

Money Transfer Options

First you will need to decide whether you want to send your money using your local bank or a money transfer operator (MTO) or money transfer company such as Exchange4free. There are various benefits and disadvantages associated with the different options which will be discussed below.

Transfer Fees

International money transfer or 'swift transfer' fees need to be factored into the calculation when making your comparison. Most banks and MTOs will charge a fee to send your money overseas. This fee can be anything from 5 pound sterling to as much as 30 pound sterling and over.

Our benefit

We charge no transfer fees to send your money from United Kingdom to New Zealand. We make money off the exchange rate conversion.

Receiving Fees

Receiving fees are usually charged to your recipient/beneficiary by their bank to receive the international funds. These fees also vary differently from bank to bank but ultimately leave your beneficiary with less money than you intended them to receive.

Our benefit

Your recipient/beneficiary will not be charged a receiving fee. We cover these costs, so the amount we say will be paid to your beneficiary when booking your transaction is the amount that they will receive into their account.

Exchange Rates

One of the most important factors to look at is the foreign exchange rate that you are quoted on your money transfer. This is the rate at which your Pounds will be converted into New Zealand Dollars; even a few cents can make a huge difference, especially if you are sending a large amount. This rate will differ between the banks and different MTOs depending on the margin they quote off the current interbank exchange rate (the rate at which bank buy or sell large volumes of currency). This margin can be between 3-15% (or more).

Our benefit

Our margins vary between 0.75-2.5% off the interbank rate (depending on the amounts being sent, larger amounts will receive better exchange rates). We also don't offer a 'no transfer fee' service and then filter these fees into out exchange rate quotes. Our pricing allows us to achieve a satisfactory margin on all transactions while at the same time ensuring that our clients receive value while using our services and ultimately save money on their worldwide transfers.

Transaction Process Time

Different banks and MTOs will have varying time periods for a transaction to be completed. Some banks can take up to week for your money to reach your recipient. Other companies provide same day completion but at a cost.

Our benefit

After you have booked your transaction on our system, you will be required to pay your British Pounds into our GBP clearing account. Once these funds are received, our payments department will payout your beneficiary. These funds will be received in 2-3 days.

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I'd like to send my GBP using Exchange4free, what do I have to do?

First you need to register an account with us. Once your account is activated you will be able to access all our services.

STEP 1: REGISTER AN ACCOUNT

 

Register

 

STEP 2: LOGIN and SEND MONEY TO NEW ZEALAND

Login with your Member ID and Password

 

Login

 

Placing an online money transfer is simple. After logging into your account click on the 'send money online' option. After typing in the amount of GBP you want to send to New Zealand you will be quoted a GBPNZD exchange rate. On larger amounts you can call in and get a quoted rate from one of our FX Dealers.

Once the money transfer details and GBPNZD rate has been agreed and booked on our system, you will be able to select how you want to send your funds to Exchange4free. Once we receive your funds we will payout your chosen beneficiary.

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