Telegraphic transfers
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.
How it works
Speed
Money should arrive in the account you’re sending it to within one to three business days, although the final delivery time is up to the receiving bank.
For payments to Australia in Australian dollars, if sent before 1pm, it should arrive in Australia the same day.
Fees
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.
Reference
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).
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 or Australia.
How it works
Speed
It can take three to five business days to arrive in the account, depending on the country you’re sending money to.
Fees
There are no fees for the recipient, so what you send is what they get. See our fees.
Where to?
Only available when sending British pounds to a bank account in the United Kingdom and Australian dollars to an Australian bank account. International direct credits can only be made to bank accounts, not credit cards.
Reference
Unlike with telegraphic transfers, you can’t include reference information like invoice numbers or messages that will appear on the recipient’s statement.
How to send
You can make both telegraphic transfers or international direct credits via:
- Internet banking for business
- Visiting your nearest Kiwibank
- Downloading an international money transfer request and emailing it to supportTT@kiwibank.co.nz.
Outward payment fees
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.
When you send an international direct credit³ to an overseas bank account from your NZD account or your foreign currency account:
¹ SHA fees are shared between the sender and beneficiary of the payment: overseas bank fees will be deducted from the payment. This will mean the beneficiary receives less than you have sent. ² OUR fees are paid by the sender of the payment. You will pay an additional fee, which will be added to your payment fee to cover overseas bank fees. By choosing this option, the full amount you send should reach the beneficiary, however, this is not within Kiwibank’s control and there may be additional fees charged to the beneficiary. ³ Direct credits are only available in Great British pounds and Australian dollars. |
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. |
Information you need to make international transfers
When your business sends money overseas you need specific details about the person or organisation you’re sending money to.
- Bank and branch number (often referred to in Australia as BSB number)
- Account number
- Recipient’s account name
- Recipient’s physical address, including postcode and state.
- Bank and branch name
- Bank and branch number (often referred to in Canada as institution and transit number or Electronic Fund Transactions (EFT) routing number) - note: a full EFT is 9 numbers long and includes a 0 at the start
- Account number
- Recipient’s account name
- Recipient’s physical address
- IBAN number
- SWIFT code (preferrable)
- Recipient’s account name
- Recipient’s physical address
- Bank and branch name
- SWIFT code
- Account number
- Recipient’s account name
- Recipient’s physical address
- Bank and branch name
- SWIFT code
- Account number
- Recipient’s account name
- Recipient’s physical address
- IFSC code* (for transfers over 100,000 INR)
- Bank address including PIN code*
- If recipient is not an Indian resident you’ll need to refer to them as a NRE*.
*For internet banking, put this information in payee’s details.
- Bank and branch number (often referred to in the UK as sort code)
- Account number or IBAN
- Recipient’s account name
- Recipient’s physical address
- Bank and branch number (often referred to in the US as ABA or FedWire)
- Bank and branch name
- SWIFT code
- Account number
- Recipient’s account name
- Recipient’s physical address
For other countries we recommend that you ask the recipient to confirm the details their bank needs.
The most common requirements are:
- Bank and branch name
- SWIFT code
- Account number
- Recipient’s account name
- Recipient’s physical address
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.