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Thread: International Payments - help!

  1. #1
    Join Date
    Apr 2009
    Location
    Rothesay Bay Auckland
    Posts
    364

    Default International Payments - help!

    We have the cash from our house sale sitting in our UK bank account. As the exchange rate is still so poor I am going to move the money to a sterling account in New Zealand. I can make an international payment if I go to my local branch of NatWest but cannot do it online, does anyone have any ideas how to get around this?

  2. #2
    Join Date
    Jun 2010
    Location
    Christchurch, New Zealand
    Posts
    69

    Default

    Can you do it over the phone?

  3. #3
    Join Date
    Jun 2009
    Location
    Manchester > Now Tauranga
    Posts
    4,393

    Default

    Hard to do from over here I think. Of no use to you, but getting this arranged before you leave the UK is the easiest way, and planning in advance is the key. HiFx needs to be set up from the UK I think, or at least their default account set up needs to be doen from the UK.

  4. #4
    Join Date
    Feb 2008
    Location
    Edinburgh>Cambridge>Auckland
    Posts
    758

    Default

    I use HiFx and just transfer money from my Barclays account to their Barclays account using online banking (max 10,000 pounds a day though). They then transfer it to my NZ account.

    It's always been very fast- normally less than 3 working days. So there may be little benefit in transferring it to a sterling account in NZ unless you are getting interest on the money here. Setting up the HiFx bit was easy and there were no transfer fees as both the UK accounts were Barclays.

    If you are transferring money for a house deposit it is worth knowing that agents will usually wait 3-5 days for deposit money in a negotiation. Even for auctions you can arrange a 5% deposit with the vendors. It saved us transferring money for an auction we lost out at.

  5. #5
    Join Date
    Jun 2009
    Location
    Manchester > Now Tauranga
    Posts
    4,393

    Default

    To open a Hi-fx account you need to be in the Uk though - they call on a Uk number to confirm the details, and also you need to have a bank card registered to a UK address. Or did you open the account whilst over here? I stuill use HiFx but that's from an existing account with them, and not one since my address has become NZ based.

  6. #6
    Join Date
    Apr 2009
    Location
    Rothesay Bay Auckland
    Posts
    364

    Default

    Thanks guys! I would love to do this transaction over the phone, spent about an hour this morning being passed from pillar to post. Used to have an HIFX account so will try and find the details. I phoned ANZ who were great, going to call NatWest again and organise a telegraphic transfer if possible. Last resort is to just pay a cheque into the sterling account here. Could take 30 days to clear, ANZ post to UK - technology is a wonderful thing! The account at ANZ has no interest, we are starting major renovations on house soon so hopefully the exchange rate will improve and we can get a move on. Have been in limbo too long.

  7. #7
    Join Date
    Feb 2008
    Location
    Edinburgh>Cambridge>Auckland
    Posts
    758

    Default

    I opened an account in NZ no problem. It may be worth calling the NZ branch. They will give you a better exchange rate than the banks.

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