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How to send money overseas from New Zealand

07 January 2016 / Published in Your Money
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Summer is a busy time of year for travelling; with that comes the need for buying foreign currency and sending money overseas. You can do both online in FastNet Classic.

International Money Transfers

Paying an overseas bank account probably seems harder than it actually is. But you can easily do it by making an International Money Transfer (IMT) in FastNet Classic.

If you ever need to send money to a friend or family member overseas, then an IMT is a great way to do it. Using FastNet Classic means you can do the transfer when it suits you; you don’t have to wait for a branch to open or stand in line.  Plus, the fee for making an IMT in FastNet Classic is cheaper than in-branch.

Before setting up the transfer, make sure you’ve got the following information:

  • Beneficiary’s full account name
  • Beneficiary’s address
  • Beneficiary’s full account number or International Bank Account Number (IBAN)
  • Beneficiary’s bank name, address and SWIFT Code (also known as a Bank Identifier Code/BIC)

You’ll also need a Netcode to complete the transaction so setting this up before you start is a must.

Once you have everything you need simply log in from the comfort of home and get started by going to Foreign Exchange > Send International Transfer.

It’s important to note that IMTs are subject to fees and charges imposed by overseas banks involved in the transaction; these are usually deducted from the amount sent before it is received by the beneficiary.

More information about IMTs.

Buying foreign notes

You can also buy foreign notes in FastNet Classic if you’re heading overseas. You can choose which ASB branch you want to pick the notes up from, ensuring they have what you want, when you need it.

To buy foreign notes, log in to FastNet Classic and go to Foreign Exchange > Buy Notes. Select the currency and amount you need, choose the branch you want to collect the funds from; your order will be ready for you within 2-3 business days.

Foreign Exchange Terms and Conditions and FastNet Classic Terms and Conditions apply. Fees apply.

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