Sterling Accounts in NZ

[Helga]

Hi guys

We want to hold a sterling account with a NZ bank alongside a current account - can anyone recommend an account that gives a good rate of interest plus flexibility without being stung on commission and transfer fees and banking fees?

At the moment we are looking at options with Westpac.

Any thoughts?

Helga

[veronica]

We've got our sterling account with the westpac, but only because we have the business accounts there.

We didn't do any shopping around for interest rates etc. when we set it up as it was all done in such a hurry.

The Westpac offered us the friendliest and easiest options generally of the banks we looked at for a couple of business accounts so we did most of it through them.

[Radders]

Hi, I had a quick look at this, and wasn't very impressed with the interest rates that were being offered. We have our money in an instant access internet account in the UK paying 5% interest. The westpac were only offering 3.65% at best, and that was a a 120 day notice account!!!

I would seriously consider leaving it in a good, easy to get to account in the UK, and just exchange what you need that way. Our's takes about a week from savings account to NZ bank account

[Helga]

I think that we had almost come to that conclusion too Radders and will probably go down that road. Keep the current account with Westpac - good tohear that there's nice to deal with.

Cheers.

Helga

[veronica]

Its not a problem cos we have spent the money on a deposit for the house. and we had to have it instantly available with setting up two businesses. We just had it in there hoping the exchange rate would get better before we needed to use it.