How do I transfer money to New Zealand for cheap – Backpacking Tips

How to transfer your money cheaply to the other side of the world

There are many ways to transfer your money across the world, but there are significant differences in price and performance. Here I present you the two most favourable routes for me.


Use travel savings

You saved money and would like to spend it on your trip around New Zealand?
Now suddenly there are two problems you usually do not think about. The international transfer costs fees, but these can be avoided in two ways if you prepare a little before your travel.


1. Free credit card:

A free credit card is a handy way to get your money anytime anywhere on the world. Important for a trip abroad is that the credit card charges no fees for the conversion into foreign currency or withdrawal at the ATM worldwide. Then you can withdraw money at any time with appropriate credit on the card.

So with the credit card for a trip, the following things are important to me:
• no basic fee / annual fee
• no withdrawal costs at the ATM
• free Worldwide use

These are the only things that are important to me, I can withdraw money anywhere and getting a little cash is not a problem. I am already satisfied with that. Bonus points or other bonus systems are currently uninteresting for me. The cards with nice bonus systems always finance themselves over any fees; I didn’t find any credit card with miles and worldwide free use.
On my trip, I used the credit card and the DKB account*. There is a free bank account and a credit card for free as well. Taking off worldwide costs, no bank fees if you are an active customer with 700€ income per month. And the best, totally free within the first 12 month, so you can easily test if you like it.


To be able to conveniently withdraw money in New Zealand by credit card, I can recommend a credit card by the DKB bank. Currently it is so that the first 12 months worldwide free money can be withdrawn by credit card. Vending machine fees are not refundable (if the ATM has fees), but in New Zealand there are only fees at the ANZ atm’s. After the first 12 months you need 700 € income so that it is still free worldwide to withdraw. But you can easily do this yourself by transferring 700 € from another account throughout the month (can also be 7x 100 € or 14x 50 €, any split). It is only important that after the 12 months you pay attention to having this monthly income or the credit card starts taking fees when using. The credit card and account management is and remains free, no matter how much income you have. Do you have questions about it, and then write me a message. At the moment it is the easiest way to get one if you are from Germany, but there are similar companies in other countries.

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To your free DKB account* and the free visa card it goes along here.

2. Cost-effective money transfer with peer-to-peer services:

There are some services that transfer money from one country to another country at a lower cost than normal banks would do. I would like to introduce you to two of these services today.



The first of the services is Transferwise*, which is also my favourite. Transferwise* has its own bank account in almost every country and works on a simple principle.

Let's take the example you want to transfer your German money cheap to New Zealand.


How does Transferwise work?

Transferwise* has an account in Germany and one in New Zealand. You transfer an amount in Euro from your German account to the German account of Transferwise*. Upon receipt of money, Transferwise* will look at the current exchange rate and will pay you from New Zealand's Transferwise* account the equivalent (after deducting a small fee that will be displayed before the transfer) in New Zealand dollars to your New Zealand account.

The only requirements are two bank accounts, your home one and a New Zealand bank account. To try out, you are welcome to use the following link to register with Transferwise*. The fees from Germany to New Zealand are about 0.7% and are thus at least 50% lower than if you have a normal credit card with fees (most of them have around 1,5% – 2%. Most banks take even more fees for an international bank transfer. In addition, Transferwise will show you the exact fees BEFORE transferring. So you can decide if you value it, or if you want to wait for a better exchange rate.
This is a service that I use myself and I can recommend especially for transfers to or from New Zealand. German banks, in my experience, like fees in the order of 10-20 € and then like to earn again on the bad exchange rate. Money that you, in my opinion, would rather spend on your trip through New Zealand or something else when you are back home.


Questions about Transferwise

If you have questions about Transferwise* I am pleased about a comment under the article. The easiest way is probably if you just register for free and try it.

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The alternative Currencyfair

The basic principle is the same as Transferwise uses, however, there are not that many accounts spread around the world for Currencyfair*. As a result, you must be careful that there is an account in the appropriate country, so that you do not make an international transfer and the high fees occur. Currencyfair*is especially interesting, if you transfer between countries in which Currencyfair*has a bank account. Check this out beforehand in the FAQ as the countries change sometimes. Also with Currencyfair*there is the possibility to register for free and to test for cheap. However, you have to transfer at least 2000€ for a welcome bonus (currently 30 € welcome bonus if you transfer 2000€ or more). If you have questions about Currencyfair*, feel free to leave a comment under this article. Currencyfair*is useful if you want to transfer large amounts of money (at least € 2,000 or more in one go) to New Zealand. It is not worth it for the return transfer from New Zealand to Germany, as Currencyfair*does not have a New Zealand account.


My favourite for New Zealand

This is currently Transferwise*. Transferwise* is completely transparent with the existing fees and has the best currency exchange rates I found so far. A nice feature I also find is the exchange rate alarm. So if you are not in a hurry, you can just wait until the exchange rate is right for you and then transfer the money. Register now at Transferwise*. Just give it a try and register for free. For large amounts of 2000€ or more, I recommend you Currencyfair*. However I can recommend Currencyfair*only for the transfer to New Zealand. Register now with Currencyfair*.


Transferwise & Currencyfair Logo

Ho to transfer money for cheap from one country into another


Found questions or another service

If you have any questions to the use of these services or if you found another interesting service, then please leave a comment under this article and I'll be happy to answer.

If you look for another service, always have a look at the exchange rate minus the fee, then you can see if it is worth it or not.



All links marked with * are Affiliate links to Transferwise, Currencyfair*and the DKB. I get a small commission if you register after using one of these links, nothing changes for you. When using our links, you support our blog and help us to maintain our services and work. Thanks in advance!

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