TRF UK to NZ

[HelenH77]

Any advice on who to use to transfer our GBP over to NZ??. Have been in NZ for a couple of months and want to get things in order for when the exchange rate improves (fingers crossed) and just need advice on who to use etc.
Any advice is welcome - tried searching but am not having any luck in finding anything.
Thanks in advance.

[nickiware]

We use NZforex, quick, good rates and helpful. You need to set up an account first then you can do transactions over the internet. Others use HIFX, we are waiting for the improved rate as well!

[Duncan74]

HiFx for me. When I looked then it seemed easiest to set up in advance of coming over with a UK registered card and address, although I believe others have set it up from here.

[Tia Maria]

If you have time then I would get a few possibilities lined up - there is normally paperwork involved in setting up these accounts due to the potential for money laundering and this takes a while.

Contact your NZ bank, about fees (some offer better rates for higher sums of money moved), timings (how long it can all take), opening hours (some are 24hrs, some just NZ business hours) and amounts and whether it is a simple case of you just phoning up and transferring the money.

If you are moving a large amount ask your NZ bank for the interbank rate, not the tourist rate given to those changing up holiday money.

Contact HiFx and set up an account and ask similar questions.

The other one I would recommend is XE:

http://www.xe.com/

Once you have established an XE account, you can do online transfers yourself.

Then on the day you want to transfer, phone/contact all three to find out their best rate, (talk in terms of how much money you will actually receive, rather than exchange rate), and choose the one that gives you the most money.

It does take time and effort but I have seen quite a big difference in what I have been offered, so worth it from the money side of things.

In the past I have found our bank have offered us the best rate on the day but I have also used XE for bringing over smaller amounts at odd times - for instance, if there has been a spike in the rate at 11pm and the banks are closed.

At the same time I would confirm with your UK account that they are OK with you transferring out larger amounts. Some don't like it without a signature and you can sometimes do this in advance. I had one bank who had a max online transfer of 10K GBP but it turned out that there was no daily limit, so I could actually transfer as much as I wanted as long as I did it in 10K chunks.

[70m45]

+1 to xe.com - I used when moving from UK to NZ 2 years ago and then I used them again 2 months ago for couple of thousands. It was incredibly fast - I booked the rate on xe.com and transfer money from Lloyds to their UK account (that was Wednesday night). On thursday morning (all NZ time) I've received email from XE that they got money and are transferring to my NZ account (Westpac) which can take 5 working days. I could see the amount on my westpac account on Friday morning (so basically it took like 30 hours to get them to NZ with very competitive rate - and I think the fee was something like 12 pounds - so just be sure you have some reserve in UK bank for that fee since when you book 2000 pounds for transfer you will need to deposit 2012 pounds.

Good luck

[IanW99]

...
I could see the amount on my westpac account on Friday morning (so basically it took like 30 hours to get them to NZ with very competitive rate - and I think the fee was something like 12 pounds - so just be sure you have some reserve in UK bank for that fee since when you book 2000 pounds for transfer you will need to deposit 2012 pounds.

Good luck

If you transfer by EFT then there are no transfer fees with xe.com

Option: Delivery by EFT Electronic Funds Transfer (ACH)
Choosing this delivery option directs us to automatically deposit the funds to a specified bank account. This account can be your own, or can belong to the recipient of your choice. Sending funds by EFT from XE Trade is free. EFT is relatively fast, although not as fast as a Wire Transfer. Free delivery via EFT is currently available for the following currencies and countries:

Ian

[Dave in NZ]

another one you could look at is currencies direct. We always use them and we get a comparison rate with say hifx and they always beat it plus there are no charges

http://www.currenciesdirect.com/

[Charliefarley]

Also Torfx compare well

[gorstsmit]

Has anyone used Halo, or Moneycorp?

[sophiedb]

we used TorFX