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Thread: Transferring money from SG to AKL

  1. #1
    Join Date
    Nov 2014
    Location
    Singapore
    Posts
    19

    Default Transferring money from SG to AKL

    Hi All,

    Anyone has transferred money from Singapore to Auckland? Can we open an account in any of the NZ banks prior to going and transfer from here? Or is there any other ways to transfer money?

    Thanks all in advance!

  2. #2
    Join Date
    Sep 2014
    Location
    Singapore --> Wellington, NZ
    Posts
    396

    Default

    I am sure you can open bank accounts from here but you need to be @ NZ physically to activate it by providing address proof etc. You can check out ANZ/Westpac websites for more information.

    Well if you are not planning to relocate immediately, then you could probably look at opening a DBS Multi Currency Auto Saver account which has options to save in 12 foreign currencies including NZD. You can either withdraw in NZD @ any DBS branch or remit as NZD to NZ bank accounts and save on forex charges.

    But if you are planning to do it in one shot then i would suggest to wait for our members who had done it earlier.

  3. #3
    Join Date
    Aug 2014
    Location
    NZ Auckland
    Posts
    83

    Default

    Thanks for the suggestion on DBS Multi Currency auto saver account!

    I have checked that you are allowed to open an ASB account from SG if you are moving to NZ within 6 months. For ANZ, I don't think they have such restrictions.

    Now is a good time to convert SG to NZD.

  4. #4
    Join Date
    Nov 2014
    Location
    Singapore
    Posts
    19

    Default

    Thanks for the replies nms.sun3 and darzren.

    We are planning to relocate in a month or two and want to transfer the money in one shot.

    So regarding opening an account with ASB/ANZ, we have to open online or we can go to a branch here in SG and create an account?

  5. #5
    Join Date
    Sep 2014
    Location
    Singapore --> Wellington, NZ
    Posts
    396

    Default

    With ANZ you can open it online. Someone from the migrant banking team will get back to you on the procedures. Check this link for more information.

  6. #6
    Join Date
    Nov 2014
    Location
    Singapore
    Posts
    19

    Default

    That is perfect! Will check that out. Thanks

  7. #7
    Join Date
    Mar 2013
    Location
    Wellington
    Posts
    20

    Default

    Hi Sala,

    You can take a look on https://www.pay2home.com/. They charge only $20 regardless on the amount with competitive rate. If you need to transfer anything more than $15,000, give them a call/email, they will initial the invoice/instruction to do the transfer. Amount less than $15,000, you can do it online. I used them to transferred several times and they are very reliable. Usually fund received within 2-3 working days provided you made the payment with FAST or using DBS to transfer (since they are using DBS bank). Hope this help.

    Regards,
    Zach

  8. #8
    Join Date
    Nov 2014
    Location
    Singapore
    Posts
    19

    Default

    Hi Zach,

    Thanks for the information

    We don't have a NZ bank account yet to do the transfer. We are waiting for passports to be returned with visas Once we received, we will open an account(with ANZ most probably) and then may use pay2home to transfer the money.

    Cheers,
    Sala

  9. #9
    Join Date
    Nov 2013
    Location
    Singapore
    Posts
    12

    Default

    Hey

    I've managed to open an ANZ account in Singapore just before I got here. Look up ANZ's website on their migrant banking facilities you should be able to find more information there. I think as long as u have a residential / working visa the process should be pretty straightforward.
    For transferring of money, I found out that DBS's rates and admin costs are the best amongst the rest, and if you're doing a huge transfer, a few cents difference might result in something substantial, so it's best to look around!

    Hope this helps!

    kengarulz

  10. #10
    Join Date
    Nov 2014
    Location
    Singapore
    Posts
    19

    Default

    Thanks kengarulz

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