Should I transfer my savings from NZ to Aus?

[jandal]

Hi

I'm moving permanently to Australia to work. I've 250000k in a NZ savings account from the sale of my house. Should I transfer this to an Oz bank acocunt or is it better off in NZ, I don't plan on using the money, just as savings.

Are there any pros and cons?

Many thanks for any advice

[catt]

The aussie $ has been up to the rate it was 4 years ago recently, so it could be a good time to move money from NZ, in saying that will you be coming back to NZ anytime in the future, if so you will need to think about what the exchange rate may be then..........its a difficult one and only one you can answer really.

[shawankit]

current NZ to AUD exchange rate is very good and I guess its would be good time to move the money across.
OZ bank interests rates are higher than NZ , so you will get more interest for your cash in OZ vs. NZ

[jandal]

Thanks for the advice, have decided to transfer