Foreign Exchange Companies - UK->NZ

[Keefy]

As part of one of the shippers I have spoken to I've ended up receiving a call from TorFX.
They say they can save me money moving my cash UK->NZ.
What are peoples experiences with the various forex companies?
I need to move $1500 pretty soon for the bond on our rental property and I'm tempted to use TorFX, but wonder if I should be looking at others?
Many thanks.

[Dave in NZ]

Its best to look at others as well and I am sure opinions will come in. We used HiFX with no problem. TorFX may be very good but would I imagine give shippers a commission for any positive leads which may or may not effect any deal they do with you

[IanW99]

Are you going to be regularly moving funds from the UK to NZ, or just once or twice?

If only once or twice, then have you already set up your NZ bank accounts, if you have then they also provide exchange services which are simpler, safer and in my experience just as good rates (or better).

If you are going to do regular exchanges then check out the exchange rates and all the additional costs / fees as those that don't charge the fees tend to offer lower rates (they have to make their money somewhere). Having said all that, I doubt that there is much difference in low value transfers that you are asking about.

Ian

[Karen Phillips]

HI. We have used Ozforex (who are also part of the same group as NZForex and UKForex. We have moved money back and forth between UK and NZ many times without a hitch. If it's a reasonable amount ($10,000+??) there's no charge and you can book the exchange rate you see in front of you. We love them! Cheers. Karen

[richak]

Whichever one you use, make sure that they are authorised & regulated by the FCA and that your money goes into a segregated client trust account - not just the currency brokers own bank account.

I use HiFX myself.