Sending money from New Zealand to India

New Zealand to India is a smaller corridor than Australia to India, with fewer providers competing for it. That tends to show in what banks charge, and it makes comparing before you send more worthwhile, not less.

What a transfer costs

You pay a fee, shown when you send, and a margin, which is the gap between the mid-market rate and the rate the provider gives you. The margin is easy to miss: on a NZD 10,000 transfer, every extra percentage point costs NZD 100 before any fee. Check the live mid-market rate on our INR converter, then compare the rupees each provider would credit for the same amount.

Pay by bank transfer

The online providers in the table above accept ordinary New Zealand bank transfers, which are free from most accounts and usually clear the same day. Card funding is quicker to set up but adds a surcharge that is usually bigger than the whole difference between providers. Save the provider as a payee once and later transfers take a couple of minutes.

Choosing a provider

The picks above rank providers on total cost, speed and support for NRE accounts, using the criteria on our rating methodology page. Wise gives the mid-market rate with its fee shown up front; see our Wise review. OFX is worth comparing on larger amounts, and Remitly is often cheapest on a first transfer.

Where the money should land

Send what you earn in New Zealand to an NRE account: the interest is tax-free in India and you can move the money back abroad freely. New Zealand taxes its residents on worldwide income, though, so NRE interest still belongs on your return to Inland Revenue. NRO accounts are for income that arises in India, such as rent. Our NRI banking guide explains both, and the FD rate comparison shows current NRE deposit rates.

Rates and fees change often, so compare current figures before you transfer. NRIWallah may earn a commission from partner links; see how we make money.