Banking
New Zealand — Banking: International Transfers
New Zealand banks report international wire transfers of NZ$1,000 or more, where at least one institution involved (ordering, intermediary or beneficiary) is in New Zealand and at least one is outside it, to the Police Financial Intelligence Unit under the AML/CFT Act 2009 and the Prescribed Transactions Reporting Regulations 2016. Cash transactions of NZ$10,000 or more in physical currency are reported as large cash transactions. Reports go through the FIU's goAML system, generally within 10 working days. These reports are made by the bank, not by you, and fees and exchange margins are set by each bank or provider; compare quotes.
VerifiedGovernment / official sourceNZ Police Financial Intelligence Unit — prescribed transaction reportingLast reviewed: 2026-10-23
Key facts
- International wire transfers of NZ$1,000 or more between New Zealand and overseas are reported to the Police FIU by the ordering or beneficiary institution.
- Cash transactions of NZ$10,000 or more in physical currency are reported as large cash transactions.
- Reports go through the FIU's goAML system, generally within 10 working days.
- The reports are made by the bank; transfer fees and exchange margins are set by each provider.
Steps
- Identify the Transfer Method — Determine if the transfer will be done through a bank-to-bank transfer or a money transfer service like TransferWise or WorldRemit.
- Gather Required Information — Collect information such as the recipient's bank account details, transfer amount, and any relevant identification documents.
- Initiate the Transfer — Initiate the transfer through the chosen method, following the provider's instructions.
Common mistakes
- Splitting transfers to avoid the NZ$1,000 reporting threshold — it can be reported as suspicious activity.