If you need to send money home to Australia, send money to Canada for your snowboard season, pay suppliers in the US or send money home to one of over 47 other countries.. NForex.co.nz may just be the overseas money transfer service for you. Unlike other NForex Reviews, this one goes in to much more detail. If you have any questions or comments, I would love to hear from you in the comments below.
At A Glance
- User Rating
- Transfer Type
- Regular Payments
- Mobile App
- Min Transfer Amount
NZForex is a subsidiary of OzForex, the leading Australian International Money Transfers company. OzForex was formed in 1998 and provides foreign exchange services to customers worldwide. With over 180,000 customers, offices in Auckland – Sydney – London – Hong Kong – Toronto, and over $13 billion transferred every year… These guys are the big boys in the market.
The OzForex group have brands specific to different markets. Their group contains UKForex, USForex, CanadianForex, NZForex, Transzfers (Small Money Transfers) and ClearFX. What sets these guys apart is their full operation in the US with USForex (OzForex USA). Their customers are free to transfer to and from the USA.
If you reside in the US, UK, NZ, Australia or Canada you need to register through their country specific brand name. For example, if you reside in the USA you should register with USForex. In the UK? UKForex etc etc. If you are a US citizen but reside in Australia, you should register through OzForex. If you don’t reside in any of those countries feel free to signup with OzForex.
Signing up is a simple, straightforward, 4 step process:
- Follow this link to activate and redeem your 2 Free Transfers! Then choose your country of residence and enter your email.
- Input some info on the currencies you are transferring.
- Enter some personal info.
- Wait for a call from NZForex to confirm your registration and activate your account.
NZForex and iCompareFX have teamed up to give you an exclusive offer of 2 FREE TRANSFERS when you signup here. This link will work on your phone or tablet and the desktop. If you are signing up for business, click the business option and fill out the simple form.
NZForex have set fee depending on the currency being converted. Transactions are fee free over a certain amount. The table below gives you the current breakdown of fees, fee threshold and associated currency. For example, NZD$12 fee but free over NZD$10,000. For an updated list, go to the NZForex Fees webpage.
If you are going to use NZForex for regular transactions I would recommend you call to discuss your requirements to see if a better conversion rate is available.
NZForex have a range of useful services. I have listed out most of them below with some links to their website to learn more.
- Global presence with offices in six countries.
- Transfer money to 47 countries. All major currencies included.
- Fast transfer. On average 1-2 days. Learn more here.
- Rate Alerts – Pick a rate you want to buy or sell your currency and get notified by email of SMS!
- Rate Charts. You can check out historical rates.
- Regular transfers service. Automate sending money overseas for your pension or mortgage.
- Forward contracts.
- Market Commentary newsletter. Sign up below!
- Mobile friendly website.
- Business and Personal accounts.
- Personal Service – Speak to Real People 24Hrs day 5 days a week.
What They Don’t Offer
- Money transfers under $250. (Try CurrencyFair for small values)
- Accept cash or credit card payment. You must use local bank transfer.
- Speculative trading.
Ease of Use
Once you have registered your account, it is extremely straightforward to transfer money globally. There is a simple Online 3 Step Wizard to follow:
- Choose the amount to send.
- Enter in beneficiary details (this is saved for later use).
- Transfer cash locally to NZForex.
This simple process can allow you to transfer money internationally in minutes! With their mobile enabled website you can also do this anywhere. Every step of the way you receive feedback by email.
If you are more comfortable talking on the phone, you can call NZForex to arrange your global money transfer.
Check out this video on their simple transfer process.
During the research for some finer details of this NZForex review, it becomes quite apparent that this is a well established organisation that is serious about the security of your money:
- ASX listed and well funded
- Heavily regulated by Australian Securities and Investment Commission (ASIC)
- 2048 bit SSL secured website
- Proven track record since 1998 with close to 600,000 transfers in 2014.
Read more about how OzForex is serious about the safety of your money.
NZForex takes customer service seriously. Customer reviews of the parent company, OzForex, on ProductReview.com.au have rated it 4.4 / 5. You will see that anyone that has had a less than satisfactory experience is followed up with by OzForex to ensure that their complaint is dealt with. This is quite impressive as not all companies tend to follow up on customer experience.
- Learn how to redeem and activate your NZForex Promo Code here.