How to Transfer GBP to New Zealand - January Update

GBP has strengthened in the last month. This is good news for those in New Zealand who have GBP to transfer in, and has more to do with a downward re-rating of the NZD due to the NZ economy being relatively weaker than most other developed nations.

However choosing the right option to transfer your GBP makes a difference also, especially for large amounts.

Here is our latest comparison of currency specialists as well as Lloyds Bank.

XE lead pricing over Wise slightly although Wise has become more competitive in recent weeks and is actually leading pricing on smaller transfers. TORFX and Lloyds Bank are not competitive.   The competitive landscape changes regularly because sometimes currency specialists are building margins, and other times they are building market share. We regularly monitor pricing as the best pricing today is not necessarily going to be the best pricing next month.

It is always worth comparing, especially for large amounts, and we will continue to monitor pricing each month as we work with many investment and mortgage clients who are impacted by FX rates.