The National Bank

Send Money Overseas

Sending Money Overseas is an easy way to transfer funds around the world. You can be confident that your funds will be sent to the other party's account through the worldwide bank network securely.

Follow our simple step-by-step guide to send money overseas or Print print this guide and read it later.

You'll need to register for both the 'Send Money Overseas' service and 'OnlineCode' in order to send money overseas. OnlineCode is our 'two-factor authentication' system that gives you an additional layer of protection when you're using Online Banking.

Step 1 Getting started

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When you log in to Online Banking you'll arrive at a page showing your account balances. From the options at the top of the page click on the Payments menu and select Send Money Overseas.

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Step 2 Enter your request details

You'll arrive at the Send Money Overseas screen.

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Select the currency you would like to transfer.

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Select the Amount you want to transfer in either the currency of transfer or NZD.

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Select the account you want to transfer money from.

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Click the Get a quote button to get a quote for the transaction request.

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Step 3 Review the quote details

Next you'll be asked to review the quote details and accept the terms and conditions of the request.

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If required, you are able to change the transfer details and get a new quote.

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Review the quote details for your request.

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Read the International Money Transfer Terms & Conditions by clicking on the link.

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Confirm that you have read the terms and conditions by clicking in the tick box.

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When you're sure the quote details are correct click the Accept & continue button.

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Step 4 Enter your beneficiary details

Next you'll be asked to provide the beneficiary's (recipient's) details.

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Enter the beneficiary's bank details. Be sure to include a SWIFT/BIC code if appropriate to avoid delays. SWIFT/Bank Identifier Codes can be looked up on the SWIFT website, http://www.swift.com/bsl/.

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Enter the beneficiary's personal details.

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Enter your purpose for the transfer and a message you want to be sent to the beneficiary (optional).

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When you're sure the details are correct click the Next button.

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If you need to change anything, click the Quote button and you'll be taken back to the previous screen.

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Step 5 Check that your transfer details are correct

You'll be asked to confirm the details you entered on the previous screen. It's important to carefully check all details are correct – especially the beneficiary's bank details.

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When you're sure the details are correct click the Confirm & submit button to submit your request and receive your OnlineCode.

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If you need to change anything, click the Request details button and you'll be taken back to the previous screen.

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Step 6 Enter your OnlineCode

Next you will be asked to enter your OnlineCode to complete the requested transaction.

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Enter the OnlineCode that was sent to your mobile phone.

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Click the Confirm button.

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Step 7 Get confirmation

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All done! You'll get a message on the screen saying your request to send money overseas has been sent to us successfully. Please note that your account will not be debited until the bank processes the transaction. Now you can create another transfer request, check your account balances or log off if you're finished.

Now you've seen how easy it is, have a go at learning how to set up a New Bill Payment or create an Automatic Payment.

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Do I need to register for the 'Send Money Overseas' service?

Yes. In order to send money overseas, you must be registered for the Send Money Overseas service itself and for OnlineCode, our 'two-factor authentication' system that gives you an additional layer of protection when you're using Online Banking.

To register for the Send Money Overseas service, please call us on 0800 49 50 51 (personal customers), or 0800 69 62 69 (business/rural customers) or +64 4 473 9880 (if you are overseas).

To register for OnlineCode, log in to Online Banking, go to 'My Details & Services' page, click on the 'OnlineCode Registration' link and follow the prompts.

What is 'two-factor' authentication and ‘OnlineCode’?

To protect your security, we often need to confirm who you are before giving you access to your accounts. A two-factor authentication process uses two 'factors':

  • Something you know e.g. your customer number and password, and
  • Something you have e.g. an object or device, such as your mobile phone in this case.

OnlineCode is a 'two-factor authentication' process for National Bank Online Banking. It works by sending a unique 8-digit 'single use' code to your mobile phone when you begin to use an Online Banking function for which OnlineCode applies. The 8-digit code is valid for your entire Online Banking session, enabling you to do multiple transactions.

Why do I need OnlineCode to send money overseas?

Once funds are sent overseas we are unable to recall those funds. Therefore to ensure safety of your funds we have introduced an extra layer of security when sending funds overseas.

Why is the New Zealand dollar not an available currency?

Outside of New Zealand, NZD is considered as a minor currency and overseas banks most often convert your payment to the currency of the beneficiary bank country at an exchange rate determined by them.

By selecting the currency for the beneficiary bank country, you are aware of the exchange rate and approximate value of your payment in your chosen currency.

What if my desired foreign currency doesn’t appear in the drop-down list?

The currency drop down list includes the most commonly exchanged currencies.

If your desired currency is not available, please contact us on 0800 86 38 63 or +64 4 494 5250 (if you are overseas), or visit your nearest National Banking Branch for assistance.

What is the minimum amount that I can transfer?

The minimum amount you can transfer per request is equivalent to NZD $100 equivalent in foreign currency.

What is the maximum amount that I can transfer?

The maximum amount you can transfer per request is equivalent to NZD $25,000 equivalent in foreign currency.

Are there fees for the service?

Yes. We have a flat fee of $20 per transaction.

In addition, fees may be deducted from the payment by overseas banks involved in processing your payment.

What is a SWIFT/BIC code?

SWIFT stands for Society for Worldwide Interbank Financial Telecommunication and BIC stands for Bank Identifier Code. Together they make up the 8-11 character identification code of a bank or financial institution.

When sending a payment overseas the SWIFT/BIC code helps us identify the receiving (beneficiary) bank or financial institution (it is not obligatory but we strongly recommend you include it).

The beneficiary's bank can provide the appropriate SWIFT/BIC code in order to enable an international money transfer to reach the overseas account. Alternatively, SWIFT/Bank Identifier Codes can be looked up on the SWIFT website, http://www.swift.com/bsl/.

What do I enter in the Branch Number field?

The Branch Number field should contain the unique branch code (also known as National Clearing Code) of the beneficiary's specific bank branch. Please note that branch number standards and format may vary by country. See below for guidelines:

CountryBranch number typeBranch number length
CanadaTransit code9 digits
AustraliaBSB6 digits
South AfricaBranch number6 digits
United StatesFedwire/Routing/ABA9 digits
United KingdomSortcode6 digits

What is an IBAN?

IBAN stands for International Bank Account Number. It is the standard formatting of an account number used for international payments to countries in the European Union and other countries.

IBANS start with a two-letter country code and contain between 15 and 34 letters and numbers in total. The length of an IBAN will differ depending on the country of the recipient (beneficiary). The IBAN should be presented as a continuous string of alphanumeric characters with no spaces (i.e. GB29NWBK60161331926819).

If you are sending funds to an account in the European Union, it is strongly recommended that you provide an IBAN. If an IBAN is not provided, you run a risk of the payment being delayed and/or returned. There is a strong likelihood that additional fees will also be incurred.

Destination countries with no IBAN allocated will require an account number.

Are funds debited immediately from my funding account?

No. Requests are validated by our bank staff before processing a transaction. Please note that transfers are subject to your funding account having sufficient funds available when your request is processed.

How long will it take for my request to be processed?

All Transfer requests made prior to 3pm on a business day will be processed the same day. Any Transfer requests made after 3pm will be processed the following business day.

When will the recipient/beneficiary receive the funds?

Once the payment is processed by us and forwarded to the overseas bank for processing, applying funds to the beneficiary's account is the responsibility of the recipient bank. Effecting the payment to the beneficiary's account, may depend on the recipient bank's policy, systems and factors such as public and bank holidays.

Where can I see a record of my submitted request?

To see a record of your submitted request, log in to Online Banking, click the 'Bank Mail' link, and then select 'Outbox'.

How will I know when my request has been processed?

The transaction will appear on your account in Online Banking.

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