You can send money overseas through internet banking for business using either a telegraphic transfer or an international direct credit.
If you want to pay someone or send money to an overseas account quickly, this is the fastest way to do it. You just need to be aware, that with a telegraphic transfer, unlike an international direct credit, the bank at the other end of the transfer may also deduct fees, so the full amount you send may not be credited to the recipient’s account.
Money should arrive in the account you’re sending it to within two to three business days, although the final delivery time is up to the receiving bank.
The other banks involved in processing the transfer may also deduct fees, so the full amount you send may not be credited to the recipient’s account. See our fees.
You can include reference details with the payment so it can be easily identified in the recipient’s bank statement (this can’t be done with international direct credits).
With international direct credits, no fees will be charged at the receiving end of the transaction, so the full amount you send will arrive in the recipient’s account. It's a bit slower than telegraphic transfers and is only available if you're paying someone in the UK, Australia or Canada.
It can take three to five business days to arrive in the account, depending on the country you’re sending money to.
There are no fees for the recipient, so what you send is what they get. See our fees.
Only available when sending British pounds to a bank account in the United Kingdom, Australian dollars to an Australian bank account or Canadian dollars to a Canadian bank account. International direct credits can only be made to bank accounts, not credit cards.
Unlike with telegraphic transfers, you can’t include reference information like invoice numbers or messages that will appear on the recipient’s statement.
You can make both telegraphic transfers or international direct credits via:
Outward international payment fee: telegraphic transfers and international direct credits |
When you send an international payment to an overseas bank account from your NZD account or your foreign currency account.
With international direct credits, there are no fees for the recipient, i.e. what you send is what they get. With telegraphic transfers, other banks involved in processing the transfer may deduct fees from the amount transferred. These fees vary from bank to bank. |
Outward international payment investigation, amendment and cancellation fee |
When you ask for an investigation in respect of an international payment, or ask for the amendment or cancellation of an international payment.
Other banks involved in the amendment or cancellation may charge fees. These fees vary from bank to bank. We’ll pass these fees onto you. |
When your business sends money overseas you need specific details about the person or organisation you’re sending money to.
*For internet banking, put this information in payee’s details.
For other countries we recommend that you ask the recipient to confirm the details their bank needs.
The most common requirements are:
Some countries may have additional requirements.
This information is subject to change. Kiwibank accepts no responsibility for errors or omissions.
When Kiwibank converts foreign currency into New Zealand dollars, or converts New Zealand dollars into foreign currency, or converts one foreign currency into another foreign currency, Kiwibank makes money on the conversion.