Transferring Money to NZ - Urgent Plz-

[hazemsalem]

Hi All,
I will move to Auckland next week and wondering what is the best way to transfer my money.
I opened a bank account on BNZ and I am struggling which is better to Transfer US Dollars from my local bank account to BNZ or take the money Cash with me in USD and deposit it when I arrive. I don't know if the the exchange rate will be different or it will be the same.
Cheers,

[coconut88]

I think it depends on the rates your bank charges and the exchange rate fluctuations. If you carry more than NZ$10K cash (or its foreign equivalent), you will need to complete a Border Cash report. Here's the link to Customs NZ in case you don't know about it yet: http://www.customs.govt.nz/inprivate...s/default.aspx

[TJH]

About the best rates you will get from the US to NZ is from xe.com

We used that service and you can set it up where they direct debit your US bank account and then deposit the funds with no wire fees. The exchange rates they offer are much better than simply going from US bank direct to the NZ bank.

[Super_BQ]

If it's less than $10K NZD (equivalent) you wanting to transfer, then I would just bring it over as cash.

Although 3rd party currency exchange rate companies offer better rates, they're a bit more inconvenient and take longer for the funds to clear. Your $ goes from your US bank to the 3rd party account then to your NZ (BNZ) account. If you frequently transfer $ across, then I think it's worthwhile and it also depends on how much we're dealing with at exchanging.

I like simplicity. If you can negotiate with a currency broker in the US for the best rate, use them to transfer funds to your BNZ account.