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What Details Do You Need to Transfer Money

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Details needed for Transferring money in New Zealand.

There are not many headaches of doing a working holiday in New Zealand or doing a long-term backpacking trip. However, one of the headaches is figuring out how banking works in New Zealand. A question we receive all the time is what details do I need to transfer money? So in this guide, we’ll cover what details do you need to transfer money between New Zealand bank accounts. We’ll also go over the more complicated details needed to transfer money between overseas bank accounts, such as your New Zealand bank account and your bank account overseas and vice versa. We’ll also offer solutions to transferring money where you don’t need a long list of bank details.

Remember, you can get full guides to transferring money and all your banking needs at our Work Tips & Essentials page as well as our Budget section.

Details needed to transfer money between New Zealand bank accounts

This is the easy one. Transferring money from one bank account to another in New Zealand is pretty straightforward. Once you have set up your online banking, which your banker should have gone through with you when setting up your New Zealand bank account by giving you an account number login and temporary password to open your online banking, your online banking will give you the option to make a payment to someone new. The main detail needed for this is the New Zealand bank account number of the payee. For example, a New Zealand bank account numbers follow this structure: 00 0000 0000000 000 or 00 0000 0000000 00.

Tip: If your online banking only allows you to type in a bank account number with 16 digits but the account number you are trying to insert has 17 digits, then remove the last zero from the number, for instance XX XXXX XXXXXXX 003, then becomes XX XXXX XXXXXXX 03.

Other details you may be asked for when transferring money in New Zealand is a name and reference. These details are more for providing context of the payment for both you and the payee, so there’s no right or wrong answer. The payment should still work even if you have not included, say, the middle name of your payee.

Flying Kiwi

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Details needed to transfer money from an overseas bank account to a New Zealand Bank account

There are several methods of transferring money from an overseas bank account to a New Zealand bank account. We have a whole article on the different methods to transfer money between overseas bank accounts including their pros and cons. When transferring money online via online transfer (telegraphic transfer) or through an online foreign exchange broker, this requires the most details. The details needed vary between bank to bank, broker to broker, but generally, these are the details you will need to provide:

Bank details of your New Zealand bank account
  • Bank account name (your name)
  • Your physical address in New Zealand
  • Your full NZ bank account number (found on your bank statement or online banking account)
  • Your NZ bank address details
  • Branch identifier, if available (i.e. IBAN, NCC, SWIFT, sort code or BSB number)

To make things easier, here are the direct links to the main New Zealand banks and the pages where you will find the above information: Co-Operative Bank, Westpac, BNZ, ANZ, KiwiBank and ASB.

From an overseas account, you may need:
  • IBAN and BIC or home bank credit/debit card details.
  • Some banks in the USA may require a US phone number (check with your bank)

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Details Needed to transfer money between a New Zealand bank account to an overseas bank account

You may need to do this before closing your New Zealand bank account or to pay someone overseas. Again, there are several methods in doing this as mentioned in this article, but when transferring money online or through a foreign exchange broker, you will need the following details:

The Overseas receiver’s bank details
  • The name of the account holder
  • Physical address as stated on their bank account
  • Bank name
  • Branch name
  • Branch address
  • The appropriate branch identifier, i.e. IBAN (International Bank Account Number), Clearing Code or SWIFT BIC code. (More details below).
Your New Zealand Bank Account Details
  • Your New Zealand bank account number (found on your bank statement or online banking page)
  • The currency and amount you want to send. Some banks will allow you to send money in a foreign currency or a NZ$ equivalent, while other banks will only allow you to send in NZ$.

You can find most of this information on the following pages of your New Zealand bank account website: Co-Operative Bank, Westpac, BNZ, ANZ, KiwiBank and ASB.

If you need more help, follow our complete guide to transferring money from New Zealand to overseas.

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IBAN, SWIFT BIC codes and clearing codes

When transferring money between overseas bank accounts, the trickiest bank detail to find is usually the branch identifier. The branch identifier has a different name in different countries, whether it’s IBAN, SWIFT, BSB or something else.

The best way to find out your branch identifier number or code is either by simply getting in contact with your overseas bank or searching for information on your bank company’s website. This information should be readily available.

Here are some examples of the the branch identifier names in different countries:

  • Australia – BSB number
  • UK – sort code
  • Europe – The IBAN number
  • US – ABA or FedWire or SWIFT code
  • Hong Kong, Japan, Singapore – SWIFT code
  • Canada – transit number or Electronic Fund Transactions (EFT) routing number. Note a full EFT is 9 numbers long including the 0 at the start.
  • India – SWIFT code
  • Other countries – most commonly, the requirement is a SWIFT code.

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Ways to transfer money overseas without bank details

If you can’t obtain the details you need to transfer money online between overseas bank accounts, then there are other methods to transfer money that require far less details.

International Bank Draft

International Bank Drafts work like regular bank cheques where you simply need to write the name of the person you are paying, the amount in your chosen currency, and your signature. However, there are a few drawbacks to this transfer method, such as they can take a while to process.

Travellers Cheques

Some banks sell travellers cheques which is a cheque that can usually be cashed overseas. However, these are not always accepted by New Zealand banks so we tend to advice you avoid travellers cheques.

Carrying Cash

Of course, if you have the cash in New Zealand you can cash this in at your New Zealand bank. However, for security reasons, it’s not recommended to carry a large amount of cash on you.

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