Black Friday and Cyber Monday online spending stretched far beyond New Zealand in 2022, with Kiwis making transactions
in 86 countries across the world.
This is a stark 41% increase in the number of countries compared to the same period last year, showing that as the cost
of living increases, Kiwis are hunting far and wide to find the best deals and save a bit of cash.
Today Wise, the global technology company building the best way to move money around the world, has released eCommerce spending
data from New Zealanders using the multi-currency Wise debit Card.
The data revealed Kiwis are spending money everywhere from Armenia and Belarus to Nigeria and Zimbabwe.
The most popular locations for international transactions were:United KingdomFor Kiwis shopping in the UK, the top purchases were made with electronics / software stores, department stores and with
business servicesAustraliaFor Kiwis shopping in Australia, the top purchases were made with record shops and electronics / software storesUnited StatesFor Kiwis shopping in USA, the top purchases were made with electronics / software stores, art, photography & graphics stores and bookstoresNetherlandsFor Kiwis shopping in the Netherlands, the top purchases were made with limousine companies, restaurants, hotels and
electronics / software storesSingaporeFor Kiwis shopping in Singapore, the top purchases were made with professional service providers and electronics /
software stores
Tristan Dakin, Wise’s New Zealand country manager, says he’s pleased to see many Kiwis being savvy with their
international spending.
“It’s encouraging to see plenty of Kiwis both at home and abroad using international currency cards for foreign
transactions and not falling victim to hefty fees from their bank cards on every single transaction.
“As international online shopping increases over the Christmas period and as more people head overseas during the
holidays, I hope to see more and more New Zealanders saving money by paying in the local currency and avoiding marked up
exchange rates and other hidden fees.”Tips on how to avoid hidden fees
Always pay in the local currency to avoid ‘dynamic currency conversion’ that happens each time you’re presented with
the option to either pay in local currency or your home currency. E.g when shopping from a US retailer, pay in USD
rather than NZD to avoid the retailer using their own currency conversion.
Avoid using a bank card on foreign purchases. Whether you’re paying in your home currency or the merchant’s local
currency, most banks charge what’s known as foreign or international transaction fee, which often ranges from 2-5% of
the total transaction amount.