Stop Worrying About Your Local Currency! How to Get Australian Dollars to Your New Zealand Bank Account (with Wise)

A friend of mine is looking for a flatmate, and a young man from Australia has agreed to move in, but he can't send the bond money to my friend right away because he only has Australian dollars at the moment. My friend knows I have a Wise account, so he asks me to send the Australian dollars to his New Zealand account instead.

This post is part of affiliate marketing, which means I may earn a small commission if you sign up using my affiliate links. The benefit of using my links is that your first international transfer up to NZD $900 will be fee-free, or the fee will be waived when you apply for a Wise physical card.

Leverage Borderless Passbook Wise

Send Australian dollars to a New Zealand bank account

Just as many Kiwis go to Australia, many Australians are curious about New Zealand. This time, a friend of mine rented a room to someone who is currently living in Australia.

I was on a video call with this Australian friend, showing him the room, and he said he really liked it and offered to put in a bond first.

My friend liked it, too, and said let's do it. But there was a problem: I live in Australia, so of course I couldn't send Australian dollars directly to my New Zealand bank account.

My friend didn't have a Wise multi-currency account and had never received currency from another country before. Then, knowing that I have a Wise multi-currency account and make good use of it, he offered to send me Australian dollars to my New Zealand account (Wise Account) to receive the money instead.

Wise Multi-Currency Account

When you live abroad, this is not uncommon. You might be sending money from other European currencies (such as British pounds) to New Zealand dollars, as well as Australian dollars.

These things are called New Zealand Working Holiday VisaThis happens a lot when you rent a house locally before coming to New Zealand, like my friend's experience above.

I have a Wise multi-currency account as shown above that allows me to send Australian dollars to a New Zealand account. I currently have accounts in New Zealand and Australian dollars, US dollars, Japanese yen, and Korean won.

How to use Wise Remittances

I live in New Zealand, so I receive my weekly paycheck in a New Zealand bank (ANZ, ASB, etc.), which I can convert and send to any Wise currency account of my choice.

For example, if I want to put money into a Japanese yen account, I can send money from my local bank account in New Zealand to my Wise Japanese yen account at the Wise exchange rate and fees.

Of course, the You can also use your Wise physical or digital card to make payments in Japan using that accountin the file.

Wise AUD NZD

When my Australian friend sent Australian dollars to my New Zealand bank account, it took a while for the money to be transferred. I think he was using bank transfer, which is one of his friend's wise money transfer methods, and was trying to pass on the fees.

A wise transfer works like this: (wise AUD NZD)

Australian local bank -> That Australian friend Wise Australian dollar account
Wise Australian Dollar Account -> My Wise New Zealand Dollar Account

Of course, there are foreign fees associated with converting Australian dollars to New Zealand dollars, which is unavoidable, but Wise is much cheaper than your regular bank or other international money transfer services.

But when I send it to my Australian friend Wise's Aussie dollar account at the local bank I mentioned in the first paragraph, With wise's bank transfer, you can send $0 to your Australian friend's Wise account with no fees. However, this usually takes 4-5 hours.

I wonder if he used that method to save his friend's fees. But in reality, the Poli method really does send money in a matter of minutes.

I use Poli because I always want things to be processed quickly, and even if I spend a few dollars more, I'm happy with the value for money because I know I'll get my money out quickly.

Wise money transfer structure and fees total

Wise currency converter

When sending New Zealand dollars to South Korea, I specifically used the Wise Money Transfer Servicea lot. It's fast, intuitive, easy, and best of all Wise offers good exchange rates when sending moneyin the exchange rate. If you want to find out the exchange rate when sending money in Wise, be sure to check out my article

Wise, an expat's must-have money transfer app

One thing you can't live without as an expat is a money transfer app. There are many times in your life when you need to send money back home and vice versa, or receive money from another country's currency into your New Zealand dollars or other currencies.

Wiseis now a necessity, not a choice, of living abroad.

Don't think about creating one when you need it, but if you're reading this, you should. To create a Wise account, just follow the steps in the post below.

Follow along with Wise Account, the #1 international money transfer app

Stop worrying about local currencies! The easiest way to get Australian dollars to your New Zealand bank account (with Wise)