Our FX Glossary
Be in the know with our handy explanations of travel-related and foreign exchange terms.
Buy and Sell Rates
The buy rate is the rate at which foreign exchange providers buy foreign exchange from you, whereas the sell rate is the rate at which foreign exchange providers sell you foreign currency for your local currency. The difference between these rates is called "spread".
This is an online tool to help you convert any amount of local currency into the equivalent worth of a foreign currency. Using the current sell rate, the calculator will convert your Kiwi dollars into the amount of foreign currency you would receive in return. Due to fluctuations in exchange rates, the displayed rates may differ instore than what you see online.
This refers to the currency data for every world currency . The exchange rate between two currencies - for example, the New Zealand dollar and the Japanese yen - is the rate at which 1 of these currencies will be exchanged for the other, determining the global value of that country's money.
The money of another currency other than your own.
International money transfers
A safe, fast and secure way for you to send money overseas, or to receive money from someone overseas.
This is a policy form that covers a specific range of circumstances that may happen while the insured person(s) is travelling. This can include, but is not limited to, illness, accidents, natural disasters, theft and loss. Find out more here.
These are documents or bills of exchange, available in fixed denominations in major global currencies for travellers to use overseas. They are accepted as cash at most outlets, and are insured by the issuer against theft, damage or loss.
Travel money cards
A pre-paid travel money card is the modern-day equivalent of travellers cheques - providing the same security, but with the convenience of plastic. You can use it just like you would use your debit card - loading it with your travel money and paying by card or drawing cash from ATM's while overseas. You can also add more money to it on the go. It is available in single and multiple currencies.