Setting up regular international payments with NZForex is easy and can save you time and money. Take advantage of our great exchange rates and flexible set up options to accommodate your specific needs.
With NZForex regular overseas payments, you don't have to worry about your transactions every month. Simply set up a transfer plan that suits your needs and leave the rest to us!
Fixed Regular Payments: If you require a specific amount for each payment (e.g. mortgage repayments), benefit from our fixed regular payment plans that remove the exchange rate risk.
Example: You are working overseas in the USA and need to pay off your mortgage in New Zealand each month. The amount you have to pay to your mortgage provider is fixed and you would also like to fix the amount that you pay each month in USD.
Non Fixed Payments: If you have a fixed amount to send overseas each month, you can benefit from our non fixed payments where the exchange rate is not locked in upfront.
Example: You are temporarily living in Australia and want to send AUD2,000 of savings back home to NZ every month.
Tip: You have the flexibility to switch from a non-fixed payment plan to a fixed payment plan depending on your needs.
Contact us today to discuss your regular money transfer needs.
Frequently Asked Questions
We will accept all major currencies. We currently accept direct debit instructions for AUD, GBP, CAD and USD (for USD accounts based in Canada only).
No deposit is necessary for non-fixed payment plans. For fixed payment plans, a deposit is necessary to cover any market risk exposure we may face. The deposit is the equivalent of one instalment. You will need to transfer it together with your first instalment. Please note that the deposit is not a fee and we will use it to pay off the last instalment of your regular payment plan.
There are no transaction costs or fees involved. You simply pay your regular instalments and the deposit as agreed in the payment plan and we will convert and transfer at the agreed rate.
The deposit is in the amount of one instalment. You need to transfer it together with your first instalment. Please note that the deposit is not a fee and we will use it to pay off the last instalment of your regular payment plan.
If a contract is cancelled or terminated, the Company will sell the balance of the purchased currency (if any) and buy back the balance of the original currency. The deposit will be returned minus any losses that may have resulted as a result of variations on the exchange rate. If the deposit does not cover the cost of the loss, clients will be required to transfer any additional losses owed.
Regular payment plans can be set up for a maximum of 12 months and they can recur fortnightly, monthly or quarterly. Shortly before your plan is due to finish, one of our accredited dealers will contact you to discuss renewing or changing the plan depending on your requirements.
Contact us today for more information.