How to transfer large sums of money to New Zealand from Ireland 

1. The best way to transfer a large amount of money to New Zealand from Ireland >
2. The steps involved sending money to New Zealand >
3. What details are needed to transfer money from Ireland to New Zealand? >
4. How long does a money transfer from Ireland to New Zealand take? >
5. Why your high-street bank may not be the best choice for sending large cross-border payment >
6. Get the Best EUR to NZD Exchange Rate for Your Transfers >
7. How Fexco can help >


Sending money to New Zealand from Ireland can be a straightforward process once you understand the steps involved and the associated costs.  

You now have more options beyond traditional banks, offering cheaper, easier, and often faster ways to send money internationally.    


Overseas payments to New Zealand can be made using these methods:  

MethodDescriptionSpeedAdvantagesDisadvantagesSuitable for large amounts
International Money Transfer Service Convenient services offering various payout options Quick- Lower fees and rates are often more favourable than the traditional bank.

- Often more accessibility to banks worldwide.

- Streamlined payment options.
Client is required to sign up to tradeModerate to Large amounts
ACH (Automated Clearing House) Using in country payment systemsSimilar to money transfers but through a network of banks. Requires bank-specific instructions.ModerateWide accessibility, lower feesSlower processing compared to some methodsModerate to large amounts.
Traditional Bank transfersDirect transfer between banks, requiring recipient's bank info. Quick, fees depend on institution.ModerateSpeed and reliabilityLittle transparencyLarge amounts.
Cash-to-Cash TransferDrop off cash for pickup at a transfer centre.QuickQuick access for the recipient, convenienceFees can be relatively high, limited to cashModerate to large amounts.
Prepaid Debit CardsTransfer funds via a debit card for recipient's use.QuickConvenient for recipient, versatile usageActivation or monthly fees may applySmall to moderate amounts.
Foreign Currency ChequeIssue cheques in foreign currency, sent to recipient's local bank.SlowSimple process, local bank accessibilitySlower processing, processing feesModerate to large amounts.


1. The best way to transfer a large amount of money to New Zealand from Ireland

If you are looking to transfer a substantial amount of money to or from New Zealand to Ireland, choosing a money transfer specialist is often the wisest decision.  

The main reason is that you are likely to secure a more favourable exchange rate compared to a typical high street bank. 

According to a recent survey conducted by, involving over 4,205 consumers globally, individuals prioritise trust, security, and transparency when selecting an international payment provider for their overseas transfers. 

Specialist payment providers are often considered superior for international payments involving large sums due to their solutions that enhance security and reliability. 

These providers also offer dedicated and easily accessible support, a feature often lacking at digital banks and typical high street banks.  

When transferring substantial funds overseas, it’s crucial to have assurance that there is someone readily available on the phone in case any issues arise.  

Payment FX specialists leverage extensive relationships with banks and financial institutions to offer their clients competitive exchange rates and reduced fees, outperforming the services of traditional banks.  

Their profound understanding of the foreign exchange market ensures clients can access personalised solutions, making them the preferred choice for cost-efficient and streamlined cross-border transactions between Ireland and New Zealand.  


2. The steps involved sending money to New Zealand

Step 1 – Identity Verification 

Before initiating the money transfer from Ireland to New Zealand, your identity needs to be verified to comply with global anti-money laundering regulations. Typically, verification is quick and easy. You may be asked to provide: 

  • A copy of your passport/driver’s license and a recent bill as proof of address. It is advisable to complete this step well in advance, even if you are not ready to transfer immediately. 


Step 2 – Lock in an Exchange Rate (EUR to NZD) 

The next step involves locking in an exchange rate for converting Euros (EUR) to New Zealand Dollars (NZD). You will need to specify the amount of NZD you wish to purchase. 

Your money transfer specialist will then provide a live quote for the EUR/NZD exchange rate. Remember that no transaction will occur without your authorization. If you decide to proceed, the specialist will secure the agreed-upon exchange rate for your transaction. 


Step 3 – Submit your Euros 

Before the money transfer to New Zealand can take place, you will need to send in your Euros to the designated bank account of your payment processor. 


Step 4 – Currency Conversion and Transfer 

Once your bank or money transfer specialist receives your Euros, the converted funds will then be transferred to the New Zealand bank account you have specified. 



3. What details are needed to transfer money from Ireland to New Zealand?

You will need the following recipient’s bank details to send a payment from Ireland to New Zealand: 

Recipient's full nameThe recipient’s complete name as it appears on their New Zealand bank account
Recipient’s addressThe recipient’s full address in New Zealand
Recipient’s banks nameThe name of the recipient's New Zealand bank
Recipient Bank’s SWIFT/BICThe SWIFT or BIC code that uniquely identifies the recipient bank and its branch
Recipient’s Bank account numberThe unique 16-digit account number


Does New Zealand have BSB numbers like Australia?

In New Zealand, BSB numbers are not used. Instead, they employ 16-digit account numbers (XXXXXX YYYYYYY ZZZ) to distinguish individual accounts. 

  • The initial six digits represent the bank code, identifying both the bank and its specific branch.  
  • The following seven numbers identify the individual account. 
  • The last three digits indicate the account type, such as savings, business, chequing, and so on.  

Please be aware that depending on the recipient bank, there might be instances where only a 2-digit suffix number is used in the transaction. In such cases, a zero could be added as the first digit of the suffix sequence. 


Does New Zealand support IBAN?

No, New Zealand does not support IBAN (International Bank Account Number) for international transactions. 

New Zealand banks issue SWIFT codes (also referred to as BIC codes) to specify branches and financial institutions.  

When initiating international transfers to New Zealand, it’s essential to use the recipient bank’s SWIFT code along with the account number. 


4. How long does a money transfer from Ireland to New Zealand take?

Transferring money from Ireland to New Zealand typically takes 3-5 working days with traditional banks.  

However, the duration may vary based on the receiving bank’s internal checks and the time of day the funds are sent.  

Some Irish high-street banks charge up to €25 extra if you need funds to reach your New Zealand account the next working day.  

At Fexco, we do not charge extra for same-day/next-day payment delivery. 

Funds sent before the 2:00 pm cut-off time can be delivered to New Zealand the next working day, provided instructions and settlement funds are received on time. 

Get a bank-beating FX rate for your EUR to NZD overseas payments

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5. Why your high-street bank may not be the best choice for sending large cross-border payments:


  • Cap on transfer amounts 

Some of the larger banks in Ireland have daily online limits to how much you can send abroad for personal customers. Fexco does not apply a daily limit on the amount you can transfer. 

BankDaily online limitCost per transaction
Permanent TSB€10,000Outside of the EU €31.50 + FX rate markup
Bank of Ireland (BOI)€20,000€5 + FX rate markup
Allied Irish Bank (AIB)€10,000€6.35 + FX rate markup for amounts over €127
  • Poor rates and fees:  

Traditional banks often offer less competitive exchange rates and higher fees for international money transfers.  

On average, traditional banks charge transfer fees ranging from €20 to €40 per transaction, and their exchange rates can have a markup of up to 5% above the mid-market rate.  

For example, if you’re purchasing a property in New Zealand valued at €500,000 from Ireland, a 5% markup on the exchange rate could cost you an additional €25,000.  

Opting for specialized providers like Fexco, on the other hand, can result in significantly lower fees and competitive transparent FX rates, potentially saving you thousands on large transactions. 


  • No dedicated support  

Traditional banks lack specialized customer support for international transactions, as they offer a wide array of services, making their staff less knowledgeable in this area. 

According to the Irish Times, Irish bank customers have faced frustratingly long waits for telephone support, enduring delays of up to two hours.  

A review released by the Central Bank revealed that as many as 50% of one bank’s customers opted to disconnect their calls before reaching a human representative, underscoring serious inefficiencies in customer service within the banking sector.  

Neo banks, while technically advanced, may not always handle complex issues well via online channels. Customers often prefer direct phone or in-person assistance. 

For transfers over €5,000, using a specialist like Fexco ensures peace of mind. We provide real-time updates and immediate assistance over the phone for any concerns, ensuring a smooth transaction process. 


6. Get the Best EUR to NZD Exchange Rate for Your Transfers

Converting your Euro to New Zealand Dollars demands attention to market fluctuations, where even slight changes can significantly affect the amount, you receive.  

The impact minor Forex rate movements can have – a mere 1-2% shift could lead to substantial differences in the New Zealand Dollars you obtain, particularly for larger transfers exceeding €5,000.  

High-Street BankFX Transfer Providers
Advantages: ConvenientAdvantages: Cost-effective, dedicated account manager providing support when you need it and better technology
Disadvantages: High fees, unfavourable exchange rates, limited assistance, legacy technologyDisadvantages: Registration is required.
Suitable for: Smaller transfer payments (less than €5,000)Suitable for: Larger transfers (exceeding €5,000).

At Fexco, our team of experts constantly monitors the market and at request will promptly notify you when the EUR to NZD exchange rate reaches an optimal level, ensuring you maximise your funds.  

Unlike high-street banks, our specialised service offers cost-effective transfers, a dedicated account manager for personalised support, and superior payment technology.  

While high-street banks may charge high fees and offer limited assistance, our tailored approach provides a seamless experience for our customers. 

When transferring a large amount of money to an overseas bank account, peace of mind is everything. When choosing a payment provider, make sure the service is regulated. You can view a list of authorised payment providers in the Central Bank of Ireland register.


How Fexco can help

Fexco Corporate Payments Limited (t/a Fexco Corporate Payments) is regulated by the Central Bank of Ireland and is regulated by the Financial Conduct Authority for the conduct of payment business in the UK. 

Fexco specialises in cross-border bank-to-bank transfers for property purchases/sales, repatriating salary /pensions/investments, regular transfers between bank accounts, and commercial FX solutions for business clients.  

If you are transferring a large sum of money to a bank account in New Zealand, our team will guide you through the process from start to finish. 

If you need to make regular transfers to New Zealand, our online payments platform PayDirect facilitates transfers in your own time, without leaving your own home. 


Get a free EUR to NZD quote today


Check out similar articles in this series 

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Sending large sums of money to Australia from Ireland: A quick guide


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