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Although one of the most remote places in the world, New Zealand continues to impact the global forex trade with its dollar, which any broker in New Zealand offers as base currency. Furthermore, some of the most renowned brokers ever, like FPMarkets and Pepperstone, offer the NZD as base currency.
Usually local Bank Transfer can take up to 5 days to arrive with some brokers, while other offer much more reduced expectancy times. The same time frame can be applied to international Bank Transfer; they too depend on the broker.
Local Bank Transfer in NZD are by default cheaper than international ones. Local ones should be, if not completely free, no more than NZD$15-NZD$30. International transfers should be between NZD$30-NZD$75. And of course users are to be reminded that fees will be issued by the individual banks that are taking care of the transaction(s).
Credit and Debit card payments in NZD are instant, and on some rare occasion can take several minutes to complete. On top of them being free, most brokers do not charge a fee, yet those that do charge one do not make it more than 3%-3.5% of the entire sum.
Some of the most popular alternative payment methods in New Zealand are Neteller and Skrill. Payments speed with these methods depend on the broker, but most of them are instant.
Some brokerages offer free Skrill/Neteller transfers, other will fee you with 1%-3% per transfer.
What’s more is that Skrill as a 3rd party payment provider, charges 1.45% of the sum for sending money. For Neteller, their system fees are 2.5% of the requested sum.
In New Zealand 96% of the entire population uses cash. This was concluded after the Reserve Bank of New Zealand issued a study in mid 2018.
The NZD currency is often referred to as “kiwi” after the national bird.
Despite the country’s seclusion and size, the New Zealand Dollar is the 10th most traded with currency in the world.