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Thread: Transfer money to NZ

  1. #11
    Join Date
    May 2005
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    Palmerston North - X Yorks UK
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    Dan

    Not sure about the banking when we actually get to NZ - we have also opened accounts with the Kiwi bank over there, but need to look into all the charges and interest etc.

    ASB - when you send the money to them, once they receive it they will agree the exchange rate with you, and send it over - not sure (and can't find the paper work at the moment doh!!) what the minimum amount before any further charges are made is - (not a problem for us as we have 14 million ) seriously - just give the lady a ring with your list of questions and she will help you - no commitment to have to open an account!

    Good luck!

  2. #12
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    Sep 2005
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    QLD(NZ-Greenhills-E Linc-UK)
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    Quote Originally Posted by thepiesleys
    *hunts for edit facility*



    14 thousand pounds

    14,000

    There thats better...

    Jesus if i had 14 mill I would employ someone big to carry it over there and a big bag...
    I have sent you a PM

  3. #13
    Join Date
    Nov 2005
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    Canada->USA->Auckland>Canada
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    296

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    Try xe.com for a better exchange rate.

  4. #14
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    [QUOTE=marcia]Dan

    Not sure about the banking when we actually get to NZ - we have also opened accounts with the Kiwi bank over there, but need to look into all the charges and interest etc.

    ASB - when you send the money to them, once they receive it they will agree the exchange rate with you, and send it over - not sure (and can't find the paper work at the moment doh!!) what the minimum amount before any further charges are made is - (not a problem for us as we have 14 million ) seriously - just give the lady a ring with your list of questions and she will help you - no commitment to have to open an account!

    Good luck![QUOTE]

    Hi Marcia/Dan

    We have a national bank account which does not charge for services if you have a bank balance of $5,000, BUT Jordon has just opened a ASB Streamline account, although he doesnt get a chequebook he waived the paper statements and its free, no matter what balance he has.

    So if you shop arround you can usually find a bank account which doesnt rip you off on fees.

    all the best

    Kat

  5. #15
    Join Date
    Feb 2005
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    Eastern Auckland (from UK '05)
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    3,182

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    ASB have been good for our transfers and our banking this side too. We have just opted out of paper statements too, and so get a free account, but 0% interest.

    We also have the fastsaver option linked to it, and any cash we dont immediately need it put in there to earn interest at 7%.

    Happy so far, only reason mortgage not with them was cos they did not have a low enough rate, although after reading other posts, we will push them a bit next time...

  6. #16
    Join Date
    Sep 2004
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    Bucklands Beach, Auckland
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    893

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    Hi Dan

    There have been various other threads about this topic, which is how we decided on how to transfer our funds (both 'small' and 'housesale' amounts).

    Whilst still in the UK we opened Westpac migrant banking accounts (http://www.westpac.co.nz/olcontent/o...to+New+Zealand) , which compared with the system ASB had at that time we thought was more straight forward. Our contact is Jo Sullivan who has been more than helpful, i.e. one quick phonecall and she's quick to action any requests we've made. Her e-mail address is : jo_sullivan@westpac.co.nz

    To get our money from our Barclays' account to our new Westpac account we used a money exchange company called HIFX, which I believe quite a number of forum members have used. Again, good service at good highly competitive exchange rates. You can use them again and again to transfer 'any' amount.

    Hope this helps

    Babette

  7. #17
    Join Date
    Feb 2005
    Location
    New Plymouth - here to stay!
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    We did same as Marcia, used ASB when we transferred 8K when we came over for our 6 month stay. We were happy with the account we have over there and have also changed ours to a streamline acct. removing the statements and hence no fees ....although Streamline acct used to pay interest and now doesn't (i was better off when streamline paid interest and my interest pay out each month covered the fees with money left over GRRRR!). Still, ASB have various accts and you can always show around for the one that suits you.
    anyway, you could always transfer your money via ASB and then open an acct with another bank when you are there if you find there is a better deal out there. One of the benefits we found with ASB was that we didnt' need to have an NZ address to transfer our money. We could just take our passport into the bank and activate our account. Great if you are living in motel land when you arrive.
    hannah

  8. #18
    Join Date
    Oct 2005
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    Havelock North
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    Hi, We used transfers to move our cash, very easy to set up & 7 per transaction, I was a bit cautious like Marcia but I neednt have worried, done our last transfer recently phoned them up from here on a friday night and the money was in our account 1st thing weds morning, never a hassle and easy to set up, thing I liked about it was our cash was in a holding account for nearly 2 weeks and we moved most of it it when the exchange was in our favour, when we had tried to move another chunk earlier, the uk bank would only let us transfer 10.000 per day which cost us in exchange rates difference, we werent receiving interest in the uk account as we wanted access to our cash right away so it didnt matter to us what account it was in before we moved to NZ, now its in the ASB earning 7% until we are ready to buy property.

    Cheers Albert
    Last edited by Albertz; 23rd October 2006 at 11:16 AM.

  9. #19
    Join Date
    Aug 2006
    Location
    Auckland - West Midlands
    Posts
    231

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    Thanks for all the great replies. I think we want to open an ASB account because of the saver account which i similar to our ING account over here, apart from the paltry 4.5% compared to the 7%.

    One final question though...

    Will the exchange rates be comparable with Transferz, HIFX and XE.com to that of ASB? IE who will be the cheapest.

    Many Thanks

    Dan
    Last edited by thepiesleys; 26th October 2006 at 01:29 AM.

  10. #20
    Join Date
    Oct 2006
    Location
    Kent to Takapuna Jan 07
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    22

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    If you want to compare the ASB rate to someone like HIFX just call them both and ask.

    You can open a bank account with any of the NZ banks from the UK - see the links on their websites. We faxed the Westpac form to them in Auckland one day and the following day we received an email with our account numbers etc. You are then free to shop around for the best rate. If you like the look of ASB then open the account with them but don't given them any money straight away. Once again you can then shop around.

    I would guess that the ASB rate would be slightly worse than HIFX, Moneycorp, Currencies Direct etc. ASB also charge a transfer fee I think.

    When you get to New Zealand go into a migrant branch as soon as you get there. They will need to see ID and then they will activate your account and give you your EFTPOS/ATM cards on the spot - no waiting for the post.

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