Estimate your foreign exchange conversions and telegraphic transfer costs.
Convert NZD to Foreign Currency
Convert Foreign Currency to NZD
Enter the 'Sell' rate for NZD->Foreign, or 'Buy' rate for Foreign->NZD found on Westpac NZ.
Standard International Transfer fees may apply (e.g., $15-$25).
Initial Amount:0.00
Exchange Rate Used:0.0000
Service Fee (Deducted/Added):$0.00 NZD
Effective Exchange Amount:0.00
Understanding Westpac NZ Exchange Rates
When conducting international business or traveling from New Zealand, understanding the dynamics of currency exchange is crucial. This calculator is designed to help you estimate the outcome of a currency conversion based on Westpac New Zealand's exchange rate mechanics.
How Westpac NZ Quotes Currency
Like most New Zealand banks, Westpac typically quotes exchange rates in terms of how much foreign currency one New Zealand Dollar (NZD) can buy. This is often referred to as an "indirect quote" for the NZD.
Buy Rate (TT Buy): The rate the bank uses when they are buying foreign currency from you (converting Foreign Currency to NZD).
Sell Rate (TT Sell): The rate the bank uses when they are selling foreign currency to you (converting NZD to Foreign Currency).
Telegraphic Transfers (TT) vs. Notes
It is important to select the correct rate when checking Westpac's daily board. Telegraphic Transfer (TT) rates apply to electronic funds transfers, such as sending money via online banking to an overseas account. Notes (Cash) rates apply when you are physically buying or selling foreign cash notes at a branch. Cash rates generally have a wider spread (are less favorable) than TT rates due to the logistics of handling physical money.
Fees and Charges
Beyond the exchange rate margin, Westpac NZ may charge transaction fees for international transfers.
Outward Payments: When sending money overseas from an NZD account, a standard service fee (often between $10 and $25 NZD depending on the channel used) is usually applied.
Inward Payments: Receiving foreign currency into your NZD account may also incur a processing fee, which is deducted from the total amount received.
This calculator allows you to input these fees manually to see the "real" effective amount you will send or receive.
Using the Calculator
To use the tool above effectively:
Check the Rate: Visit the official Westpac NZ website to find the current rate for your specific currency pair (e.g., NZD/USD, NZD/AUD, NZD/GBP).
Select Direction: Choose whether you are converting NZD into a foreign currency or vice versa.
Input Fee: If you know the transaction fee (e.g., $15.00), enter it to adjust the final calculation.
function updateLabels() {
var direction = document.getElementById('conversionDirection').value;
var amountLabel = document.getElementById('amountLabel');
var feeLabel = document.getElementById('bankFee');
if (direction === 'nzd_to_foreign') {
amountLabel.innerText = "Amount to Send (NZD)";
} else {
amountLabel.innerText = "Amount to Convert (Foreign Currency)";
}
}
function calculateFX() {
// Get Input Elements
var amountInput = document.getElementById('amountInput');
var rateInput = document.getElementById('exchangeRate');
var feeInput = document.getElementById('bankFee');
var direction = document.getElementById('conversionDirection').value;
var resultBox = document.getElementById('resultBox');
// Parse Values
var amount = parseFloat(amountInput.value);
var rate = parseFloat(rateInput.value);
var fee = parseFloat(feeInput.value);
// Validation
if (isNaN(amount) || amount <= 0) {
alert("Please enter a valid amount.");
return;
}
if (isNaN(rate) || rate <= 0) {
alert("Please enter a valid exchange rate.");
return;
}
if (isNaN(fee)) {
fee = 0;
}
// Calculation Logic
var finalResult = 0;
var displayInitial = "";
var displayFinalLabel = "";
if (direction === 'nzd_to_foreign') {
// Converting NZD to Foreign
// Formula: (Amount – Fee) * Rate
// Note: Fee is usually deducted from the NZD balance before conversion if "Amount" is total available funds.
// Or added on top. Here we assume Amount is what they want to convert, and fee is separate cost?
// Standard calculator behavior: Deduct fee from Send Amount to see what actually gets converted.
var netAmount = amount – fee;
if (netAmount < 0) {
alert("The fee is higher than the amount you are converting.");
return;
}
finalResult = netAmount * rate;
displayInitial = "$" + amount.toFixed(2) + " NZD";
displayFinalLabel = finalResult.toFixed(2) + " (Foreign Currency)";
document.getElementById('resInitial').innerHTML = displayInitial;
document.getElementById('resRate').innerHTML = rate.toFixed(4);
document.getElementById('resFee').innerHTML = "-$" + fee.toFixed(2) + " NZD";
document.getElementById('resFinal').innerHTML = displayFinalLabel;
} else {
// Converting Foreign to NZD
// Formula: (Amount / Rate) – Fee
// NZD quotes are typically 1 NZD = X Foreign.
// So Foreign Amount / Rate = NZD Amount.
var grossNZD = amount / rate;
var netNZD = grossNZD – fee;
if (netNZD < 0) {
netNZD = 0;
}
displayInitial = amount.toFixed(2) + " (Foreign)";
displayFinalLabel = "$" + netNZD.toFixed(2) + " NZD";
document.getElementById('resInitial').innerHTML = displayInitial;
document.getElementById('resRate').innerHTML = rate.toFixed(4);
document.getElementById('resFee').innerHTML = "-$" + fee.toFixed(2) + " NZD";
document.getElementById('resFinal').innerHTML = displayFinalLabel;
}
// Show Results
resultBox.style.display = "block";
}