Best Ways to Send Money to Malta from New Zealand

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How to Send Money from New Zealand to Malta?

A Guide to Send Money to Malta from New Zealand

Mohammad Humaid

Mohammad Humaid


Welcome to our informative article that will guide you on how to transfer money from New Zealand to Malta. Whether you’re an expatriate, a business owner, or a student studying abroad, the need to send money across borders is a common occurrence in today’s world. 

When you send money to Malta from New Zealand, there are many options available, but many methods, particularly those involving traditional banks, tend to be both expensive and time-consuming. 

So here are some top money transfer providers that can help you transfer money to Malta from New Zealand online. 

Sending Money from New Zealand to Malta – Overview

💸 Number of providers10+
💱 Currency Transfer PairNZD – EUR
🏅 Best providerWise
🤑 Cheapest providersWise and Atlantic Money
Fastest providersRemitly and XE
💱 Best exchange rateWise
💳 Pay-in options availableBank transfer, Debit card, Credit card, Direct bank payment
🏦 Pay-out options availableBank account (via international transfer), Bank account, Cash pickup, Card

About Money Transfer to Malta from New Zealand 

The initial steps involve choosing the best way to send money to Malta from New Zealand. Numerous banks in New Zealand and various money transfer providers offer international money transfer services, each presenting different fees, exchange rates, and transfer speeds for sending money to Malta from New Zealand. It’s crucial to compare these factors to identify the most cost-effective and efficient option tailored to your specific needs.

Here are the three most important factors to consider when sending money to Malta from New Zealand:

  • Transfer Cost
  • Transfer Time
  • Credibility

Cost (Fixed cost + exchange rate)

Transfer cost is the first and the most important step to find the best option to send money to Malta from New Zealand. You should be aware of potential fees associated with international transfers, including both sender and recipient charges.

Before transferring money from New Zealand to Malta, you need to evaluate the overall cost, which includes both the fixed fees and the NZD to EUR exchange rate. Plese note that exchange rates can significantly impact the amount received in the recipient bank in Malta when you transfer money from New Zealand. 

Big banks in New Zealand may advertise “free international transfers” to attract users. However, the hidden markup on NZD to EUR exchange rates can be quite high. This markup significantly impacts the final amount that reaches the recipient’s bank account in Malta.

Consider using a currency exchange specialist for money transfers to Malta. Additionally, you should also monitor NZD to EUR rates to ensure you get the best value for your money. 

Transfer Time

Consider the transfer time involved in sending money from New Zealand to Malta. Depending on the provider and the selected payment method, transfer times can vary. Assess your urgency and select a service that aligns with your timeline when you send money to Malta from New Zealand.

Please note that banks are not the fastest way to transfer money to Malta from New Zealand. Local banks in New Zealand may take up to 5 business days to transfer money to the recipient’s bank account in Malta.

In contrast, online money transfer providers like Wise and XE take an average of 1 business day to send money to Malta. Many transfers on specific currency routes are settled notably or within a few hours.

Trust and Credibility

Credibility is crucial for the safety and success of your money transfer from New Zealand to Malta. Not all money transfer providers are trustworthy and safe.

Finding the cheapest and fastest option doesn’t necessarily mean it’s the best way to send money to Malta from New Zealand. Ensure credibility by choosing reputable and well-established money transfer services. We only recommend providers that are safe and credible, with a track record of secure and reliable money transfer money transfers from New Zealand to Malta and worldwide.

By considering these three factors, you can make an informed decision when sending money to Malta from New Zealand, optimizing for cost efficiency, speed, and reliability. Lastly, remember to provide accurate recipient information, including their bank details, to prevent delays or complications during the transfer process.

How to Transfer Money to Malta from New Zealand?

There are 3 ways to send money to Malta

  • High Street banks in New Zealand
  • Specialist transfer services like Wise (TransferWise), and Remitly
  • Cash Pickup 

High Street Banks [Not Recommended]

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Your initial thought might be to consider a traditional bank transfer through your local bank account in New Zealand. While it may seem like the most straightforward choice, we advise NOT to choose this option due to two specific and straightforward reasons – it is the most expensive and slowest option to send money to Malta.

Choosing a high-street bank to send money to Malta can be a costly option, reaching as high as 10% of the transferred amount. This is because local banks in New Zealand impose substantial fixed fees on international transfers AND on top of that there are various other hidden fees involved when you transfer money from New Zealand to Malta.

Traditional banks in New Zealand usually offer poor exchange rates that are higher than the mid-market rate. The mid-market rates are the “real” exchange rates that you see on credible platforms like Google and XE.com.

Hidden Fees Explained

The NZD to EUR rate offered by these banks has a “hidden markup” on the mid-market exchange rate – which can be referred to as the “profit margin” for these banks. 

It is important to note that some banks in New Zealand may attract customers by offering “fee-free” international money transfers, but the hidden markups on the exchange rate can often escalate to 5-7% above the actual mid-market rate

Moreover, most banks all around the world use the SWIFT network to make international remittances. In SWIFT transfer, the recipient banks in Malta typically apply a fee to settle the amount into the recipient’s bank account. 

When your bank in New Zealand lacks a direct relationship with the recipient’s bank in Malta through the SWIFT network, an intermediary bank helps to facilitate the transfer. This can result in increased transfer costs due to additional fees that make the money transfer to Malta more expensive. 

Therefore, using traditional high-street banks for sending money from New Zealand to Malta is not the most cost-effective choice, given the high fixed transfer fees and additional hidden charges. 

By adding all fixed fees and hidden markups, the total cost of sending money to Malta using a local bank in New Zealand can range from 6% to 10% of the total transfer amount

Additionally, the duration for transferring money through traditional banks from New Zealand to Malta can be considerably lengthy. The average transfer time to send money to Malta ranges from 3 to 4 business days. In certain cases, it may extend to as much as 7 business days for the recipient to receive the funds in their bank account in Malta.

In contrast, specialised money transfer providers offer significantly lower fees — which can be as low as 0.4% of the total transfer amount, and offer faster ways to send money to Malta from New Zealand.

Money Transfer Privoders [Best Option]

best way to send money from New Zealand to Malta

Specialised money transfer providers have revolutionised the process of sending money to Malta, making it cheaper, faster, and easier. These services offer much lower transfer fees than traditional banks and offer better NZD to EUR exchange rates. 

According to a study by the Daily Telegraph, money transfer providers can be six to eight times cheaper than money transfers conducted through traditional banks. These platforms allow you to make international money transfers in just a few clicks from anywhere. 

Money transfer providers offer dedicated services to facilitate money transfers from New Zealand to Malta. These services offer low and transparent fees, dedicated customer support, and user-friendly platforms and mobile apps to send money abroad.

Best ways to transfer money to Malta from New Zealand

🏆 Best overall: Wise ❯
💰 Cheapest: Atlantic Money ❯
Fastest: Remitly ❯ and Wise ❯
💱 Best exchange rate: Wise ❯

Here are some of the reasons why online money transfer services is the best way to send money from New Zealand to Malta:

Cheaper: These providers often offer more competitive exchange rates and lower fees compared to traditional banks. It means they are also the cheapest way to transfer money to EUR from NZD.

Transparent Fees: These providers typically have transparent fee structures, making it easier for you to understand the cost of your transaction without hidden charges. When you send money from New Zealand to Malta the fees and rates are displayed clearly on the calculator. 

Fast Transfers: Most money transfer services offer the fastest way to transfer money to [tragetcountry] from New Zealand. Compared to traditional banks, these services provide faster transfer speed, ensuring that your recipient receives the funds quickly in their bank account in Malta.

Specialized Services: The money providers that we have listed above offer specific services tailored in New Zealand and also offer services for specific needs such as international business transactions or multi-currency bank accounts.

User-Friendly Platforms: Online money transfer providers offer user-friendly platforms and mobile apps to send money to EUR from NZD, and make the money transfer process convenient and accessible.

Dedicated Support: If you are transferring money to EUR from NZD for the first time, you may have several questions or concerns. All specialist providers offer dedicated customer support to assist you throughout the money transfer process.

Cash Pickup

cash transfer to  Malta from New Zealand

Cash Pickups is also an international money transfer service offered by many money transfer companies. With cash pickup, the sender initiates a money transfer in New Zealand, and the recipient can collect the funds in cash from designated locations in Malta. Typically, these locations include branches or agents of the money transfer service, such as Western Union or MoneyGram. The recipient in Malta needs to present a valid ID and a reference number or transaction details to collect the cash.

Cash pickup is also one of the best ways to send money from New Zealand to Malta, especially if the recipient wants to get paid out in cash.

In order to transfer money from New Zealand to Malta via cash pickup, follow these general steps:

Select a Money Transfer Service: Before sending cash from New Zealand to Malta, you need to choose a reliable money transfer service that offers cash pickup services in Malta. Some well-known providers that offer the cheapest way to transfer cash to Malta from New Zealand are Western Union, Remitly, WorldRemit, Remitly and XE.com.

Compare Fees and Exchange Rates: Before initiating the money transfer to Malta, compare the transfer fees and NZD to EUR exchange rates offered by different providers. Be mindful of any additional charges associated with cash pickups.

Initiate the Transfer: Once you have created an account, select the option for an international money transfer. Enter the amount you want to send in NZD and choose the destination as [tragercountry]. Done forget to select cash pickup as a payout option when transferring money to [tergetcountry] to New Zealand. 

Recipient Details: Provide the recipient’s details, including their full name, contact information, and the city or location where they will pick up the cash.

Payment Details: Choose the payment method to send money from New Zealand to Malta. This could be a bank transfer, credit card, or another payment option accepted by the service.

Share Details with Recipient: Once the money transfer to Malta is completed, you’ll receive an email that includes a reference number that the recipient will need to collect the cash. After sending money from NZD to EUR, Inform the recipient about the transfer, providing them with the reference number to collect the cash.

Recipient Collects Cash: The recipient in [targetcurrenct] can visit a selected cash pickup location to collect the funds. They will need to present valid identification and reference numbers to collect the cash and complete the money transfer to Malta. 

Remember to consider the fees, exchange rates, and the convenience of cash pickup locations before transferring money from New Zealand to Malta. Additionally, ensure that the recipient is aware of the details needed for collecting the cash.

How much does it cost to send money to Malta from New Zealand?

Sending money from New Zealand to Malta will generally involve two main costs: the upfront fee (the advertised cost) and the exchange rate.

Upfront Fee (Transfer fee)

The upfront fee, also known as the advertised cost, can vary among different service providers and banks. These fees are prominently displayed on your screen when you transfer money to Malta from New Zealand, and they are either paid by you or deducted from the final amount.

The upfront fee can be either a fixed or variable amount (a certain percentage of the total transfer amount). While the majority of online money providers tend to charge a percentage fee, in some cases a combination of fixed and variable amounts is applied.

Traditional banks in New Zealand often have fixed fees for international transfers, which can be relatively high. In comparison, specialist money transfer companies offer a cheaper way to send money from New Zealand to Malta. 

Our study shows that money transfer to Malta from New Zealand via providers can be up to 10x times cheaper than high street banks in Malta.

Please note that many providers, as well as banks, may advertise free money transfers from New Zealand to Malta. However, this claim is not entirely accurate because they generate revenue by incorporating a slight markup on the mid-market exchange rate (the actual NZD to EUR rates visible on Google). This represents the “hidden cost” added to the fees when you send money to Malta from New Zealand. We will delve into this in the next section.

Exchange Rates (Hidden Fee)

The NZD to EUR exchange rate is another crucial factor impacting the cost of sending money from New Zealand to Malta. While the mid-market exchange rate (the rate you see on Google) is considered the fairest, traditional banks in New Zealand and some currency exchange services may not offer the actual NZD to EUR rate when you transfer money to Malta from New Zealand. They often add a margin to the actual exchange rate, resulting in a hidden fee.

For example, suppose the actual GBP to USD rate for is 1 GBP = 1.27 USD. However, the provider might present a less favourable rate, such as 1 GBP = 1.25 USD. This difference can result in significant losses, particularly on larger transactions.

As a result, if you transfer 1000 GBP with a small markup of 0.02 USD, the recipient might receive 1,250 USD instead of 1,270, accumulating 20 USD in hidden fees, which equates to 2% of the total transfer amount.

This is why It’s essential to be mindful of exchange rate margins, especially for substantial international payments. Money transfer providers like Wise (formerly TransferWise) offer the mid-market rate, which is the most favourable rate for transferring money from New Zealand to Malta.

FAQs About Money Transfer to Malta from New Zealand

What is the best way to send money from New Zealand to Malta?

While local banks may seem like the most straightforward choice, they are not the most efficient way to transfer money from New Zealand to Malta. This is primarily due to banks in New Zealand imposing high fixed fees on international transfers. Additionally, they often include various hidden fees, including markups on NZD to EUR exchange rates and intermediary bank fees on SWIFT transfers.

Money transfer processors provide the best way to send money to Malta from New Zealand because they offer low fees and favourable exchange rates. Providers like Wise offer the mid-market rate, which is the real NZD to EUR rate you see on Google.

Moreover, banks are relatively slow when sending money from New Zealand to Malta and may take up to 5 business days to complete the transfer. In contrast, money transfer providers typically take less than a day, with many transfers settling almost instantly.

How long does it take to transfer money from  New Zealand to Malta?

Traditional banks are typically much slower than money transfer providers when you send money to Malta from New Zealand. It may take up to 5 days for the recipient to receive the money in their bank account in Malta.

Therefore, international money transfer providers are the fastest way to send money from New Zealand to Malta, and most transfers take only minutes. However, the duration may vary depending on multiple factors, such as:

Selected provider: Each provider uses different methods to transfer money to Malta from New Zealand, and not all of them offer instant transfers. MoneyTransfers.store offers a comparison of top providers that allows you to see the transfer time to send money to Malta offered by various providers.

Payment method: There are different ways to pay for money transfers from New Zealand to Malta, and some may take longer to process. For example, card payments are much faster than bank transfers but also incur higher fees to send money to Malta from New Zealand.

The time when you send the money: Some providers might not process transfers immediately if you initiate them to Malta on weekends or late at night.

The sending amount: Most providers will do their best to transfer large amounts from New Zealand to Malta. However, the money might need to go through security checks related to preventing money laundering, so patience could be necessary.

Mohammad Humaid

Mohammad Humaid

Mo is an accomplished content marketer with expertise in Fintech, FX market, international money transfers. His experience also extends to cryptocurrencies, decentralised finace, and Web3. His professional journey includes a notable stint at Wise (formerly TransferWise) and CryptoWallet.com

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