ANZ New Zealand international transfers. A guide to the fees, rates and transfer time

Need to send birthday money to a relative in Europe, pay for a US purchase, or settle an invoice with an overseas freelancer? Whatever the reason, you need a quick, secure, and fair way to move your money across borders.

If you’re a customer of ANZ Bank New Zealand, you can send and receive international payments directly through your account. In this guide, we’ll break down the fees, how to make a transfer, and how long it actually takes. We'll also introduce to you Wise that can help you save on international transfers with it's low, transparent fees and mid-market exchange rates.

Can I make international transfers with ANZ?

Yes, if you are an ANZ New Zealand customer with an active transaction or savings account, you can send and receive international payments. ANZ supports transfers in over 30 currencies to more than 250 destinations worldwide.

Eligibility:

• Personal Customers: Anyone with an everyday (e.g., ANZ Go, ANZ Freedom) or savings account can use the service via the app or internet banking.
• Business Customers: Business account holders can use ANZ Direct Online or ANZ Transactive.³

ANZ International Transfer Fees

Here’s the fees you should take note of for your international transfer with ANZ

OUR Fee:

In addition to the charges above, an OUR Fee may apply to your payment. When you send money via the SWIFT network, it often travels through intermediary or correspondent banks before reaching its final destination. These banks usually deduct a fee from the total amount. To ensure your recipient gets the exact amount you sent, ANZ offers an OUR Fee option.

The OUR Fee is a process fee charged by ANZ. In exchange, ANZ covers the correspondent bank fees so they aren't deducted from your transfer amount.¹ An OUR Fee applies when you make an international money transfer in:

• A foreign currency to any account (including other ANZ accounts) in NZ or overseas.
• NZD to an account in another country. In the goMoney app or Internet Banking, you can currently only send NZD to the Cook Islands. For any other destination, you’ll need to convert your money to a foreign currency first.

You won't be charged this fee if you use goMoney or Internet Banking to send:¹

• USD to the USA
• GBP to the UK
• AUD to Australia
• INR to India

ANZ’s Exchange Rate

When transferring money overseas, the "sending fee" is only half the story. You also need to look closely at the exchange rate, especially when currency conversion is involved.

ANZ uses its own exchange rates, which are updated throughout the day. While these rates are published on their website, ANZ also explicitly states on their calculator that these exchange rates include a margin. This margin is essentially a hidden fee where the bank adds a percentage to the conversion, meaning the rate you get is often more expensive than the one you see on Google.

To see the real cost of your transfer, it’s a good idea to compare ANZ’s rate against the mid-market rate. This is the exchange rate banks use to trade with each other. Wise does things a little differently, Wise always uses the mid-market rate for every transaction, with no hidden markups. This ensures that more of your money actually reaches your recipient.

ANZ International Transfer limits

Here’s the daily international limits for ANZ transfers.

How to send money overseas with ANZ

One of the quickest and easiest ways to send money overseas is to use ANZ’s internet banking service. You can also make international money transfers (known in banking terms as an IMT) using the ANZ GoMoney app, by phone or in an ANZ branch.

Online

Follow these steps to set up an IMT in ANZ internet banking:

1. You need to be registered for the two-factor authentication system OnlineCode and have Pay Anyone access. You can register via the goMoney app or by calling 0800 269 296. Do note that activation for international services usually takes 24 hours.
2. Log in to ANZ Internet Banking and head to Pay & transfer > Send money overseas.
3. Select the account you’d like the payment to be made from.
4. Select an existing payee or select Add new. Provide the recipient’s full name, physical address, and account number or IBAN (mandatory for Europe/UK).
5. Enter the receiving bank’s SWIFT Code (BIC), name, and address.
6. Enter the payment amount and currency. You will be prompted to enter a unique OnlineCode sent to your mobile phone to authorise the transaction.
7. Confirm the details to complete the transaction.

ANZ goMoney app

You can also make international payments through the goMoney mobile app. Follow these steps:

1. Ensure you are registered for OnlineCode.
2. Login to the app and head to Menu > Overseas Payments.
3. If it's your first time, agree to the terms to register for the service.
4. Select the destination country and currency to see an indicative exchange rate.
5. Enter the amount and the recipient's details (or choose a saved payee).
6. Choose the account you are paying from and select whether you want to pay the OUR Fee (to cover intermediary bank charges).
7. Review the details and complete the payment using the OnlineCode sent to your phone.

By phone or in-branch

ANZ recommends using digital channels, but you can also process payments manually with a fee:

• By Phone: Call the International Support team on 0800 863 863 (or +64 4 494 3973 from overseas).
• In-Branch: Bring your photo ID and the recipient's full details to any ANZ branch.

What do I need in order to make an international money transfer?

To make an international transfer with ANZ NZ, you’ll typically need:

• BIC/SWIFT code of the recipient.
• IBAN or account number of the recipient
• Recipient’s full name and account name if it’s different
• Recipient’s home address
• Recipient bank’s address

How long does my international money transfer take?

When you send an international money transfer with ANZ, your funds are typically on a journey of 2 to 4 business days before they reach the recipient's account.

Daily Cut-off Times

To get your money moving on the same day, you need to hit ANZ's processing windows. If you miss these, your transfer won't start until the next business day.

• Major Currencies (USD, GBP, AUD, EUR, CAD): 5:00 pm NZST
• Asian Currencies (SGD, HKD): 1:30 pm NZST
• Pacific Currencies (FJD, WST): 1:30 pm NZST

How to receive money from overseas with ANZ?

To receive money from overseas into your ANZ New Zealand account, you’ll need to provide the sender with your full name, physical address, and your 16-digit account number. They will also need the ANZ SWIFT/BIC code. Just keep in mind that since New Zealand doesn't use IBANs, you should tell the sender to use your standard account number; if their bank insists on a "Routing Number" or "BSB," you can provide the first six digits of your account.

Check out a complete guide on how to receive money from overseas with ANZ.

Summary: Transferring money overseas with ANZ

Transferring money internationally with ANZ can be quite simple, especially if you’re an existing account holder. Their digital platforms allow you to send funds with ease and convenience. However, if you are more budget-conscious, it is worth comparing the total cost of your transfer with providers like Wise, who offer the mid-market exchange rate and transparent, low fees.

Save on international transfers with Wise's low fees and mid-market exchange rate

Wise is an easy way to save up to 6x when sending money overseas. You can make extra secure transfers to 140+ countries, which are easy to set up with no physical paperwork and completed usually in seconds.

With low, transparent pricing and the mid-market exchange rate for all your currency conversions for your foreign transfers, you'll usually get the best value for your money. Wise lets you see exactly what you're paying for a transfer, and what the recipient will get, with no hidden fees.

For managing foreign currencies even easier, create a free Wise account, and you'll be able to manage and convert your money in NZD and 40+ other currencies. Plus, you'll get local account details in 8+ currencies, making it easy to receive money from abroad whenever you need. You'll be able to track your transfers all in one place.

When it comes to international transfers, Wise makes things easier and cheaper.

📤 Send money with Wise