Send Money to New Zealand from India

What each bank charges to send NZD to New Zealand

Line items reflect the bank's published fee schedule. GST at 18% is charged on commission (and on Swift / correspondent charges where the bank explicitly applies it).

How to send money to New Zealand from India

1. Get the beneficiary's bank details. Full name and address as held by their bank, bank name and address in New Zealand, plus the account number, bank/branch code, and SWIFT code.
2. Pick the purpose code and fill Form A2. The A2 form is the LRS declaration; the most common codes for New Zealand are S0202 (education), S1301 (gift), S0305 (maintenance of relative). Your PAN is mandatory and the bank checks your LRS usage for the financial year against the USD 250,000 cap.
3. Check TCS before you send. Above ₹10 lakh in a financial year most non-education purposes attract 20% TCS, collected by the bank and claimable in your ITR; education and medical purposes have lower rates. The calculator on this page applies it when you enter your year-to-date LRS amount.
4. Choose the channel. HDFC, ICICI, Kotak and Axis accept outward remittance in NZD through NetBanking or their apps; SBI routes select currencies through YONO and the rest through a branch; IOB is branch-led. Branch channels usually cost more — the bank pages list the difference.
5. Decide who pays the SWIFT and correspondent charges. OUR means you pay them upfront in rupees and the beneficiary gets the full amount; SHA and BEN shift them downstream, where they are deducted from what arrives. SBI's Payee, Remitter and Guaranteed modes are the same choice under different names.
6. The bank applies the TT Selling rate and its charges. Your INR is converted at the bank's published TT Selling rate for NZD at the moment of debit, then commission, SWIFT / correspondent charges and 18% GST are added — exactly the lines shown above.
7. Track it and expect 1–3 working days. Ask the bank for the SWIFT reference (UETR) so the beneficiary's bank can trace the payment. New Zealand is 6.5–7.5 hours ahead of IST; transfers sent in the Indian afternoon credit the next New Zealand business day.

LRS cap: USD 250,000 per resident per financial year (across all corridors combined). TCS at 20% applies above ₹10 lakh per year for most non-education purposes and is claimable in your ITR.

Sending to New Zealand: what's different

New Zealand's corridor is student tuition and living costs, family support, and professionals relocating under skilled-migrant routes.

On the receiving side

• New Zealand accounts use a 15–16 digit number in the format bank-branch-account-suffix; the SWIFT/BIC code routes the wire. No IBANs.
• New Zealand banks typically charge the recipient an incoming international payment fee (around NZD 10–15); some waive it for students.
• Universities publish NZD bank details or a payment portal; wire in NZD to avoid a second conversion on arrival.

About NZD

NZD is a lower-volume currency at Indian banks; SBI publishes NZD-specific table entries (branch commission NZD 10, correspondent NZD 5 in Remitter mode), and the comparison above shows who prices it online.

Timing

New Zealand is 6.5–7.5 hours ahead of IST; transfers sent in the Indian afternoon credit the next New Zealand business day.

FAQ — Sending money to New Zealand from India