Receiving payments into New Zealand

Deciding how you’d like to be paid by someone overseas.

• Fast electronic telegraphic transfer¹ direct to your bank account
• International bankers draft¹ that can be posted to you
• Personal or company cheques from overseas¹

We can help you with the details you need to give to someone who is sending you money from overseas.

Telegraphic transfer¹

• This is a proven and efficient way to receive payment from overseas
• The money is cleared and available as soon as the telegraphic transfer arrives
• It usually costs less to buy NZ dollars here in New Zealand, so think about asking for payment in their currency
• If you have a foreign currency account, in their currency, you can avoid conversion costs altogether by asking them to pay you in that currency and depositing it straight into your foreign currency account
• Either way, you’ll need to give them these details so they can send you a telegraphic transfer.

International bankers draft¹

• If you're receiving a smaller amount an International bankers draft could suit your needs
• These provide security because they’re issued by a bank in the sender’s country, and are usually drawn on a New Zealand bank - so they can be cleared here
• You usually have to deposit the cheque into your bank account - just bring it into any BNZ store and we’ll let you know
• International bankers drafts are sent to you by mail, which can add to the time it takes for you to get paid

Foreign cheque¹

• This is a cheque written by an overseas individual or company from their local cheque book
• These can be risky, so we don’t recommend you request or accept payment by foreign cheque
• If you do receive a foreign cheque, bring it into your local BNZ store and we'll explain your options
• Be very wary of any request to return funds or partial funds from the deposit of a foreign cheque

Need some help?

Foreign exchange rates