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Thread: Transfer money to NZ

  1. #1
    Join Date
    Aug 2006
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    Auckland - West Midlands
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    231

    Default Transfer money to NZ

    I have searched for this but have found nothing that matches my needs.

    I want to transfer a small amount of money, about 14,000,000 from a UK based interest acount into a NZ bank account.

    Can I simply transfer the funds via internet banking or will I be restricted in anyway?

    Many Thanks

    Dan

  2. #2
    Join Date
    Mar 2006
    Location
    Wellington (from Beds, UK)
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    Default

    I want to transfer a small amount of money, about 14,000,000 from a UK based interest acount into a NZ bank account.
    Oh dear - I'd hate to think what would be a large amount of money!!!

  3. #3
    Join Date
    Aug 2006
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    Auckland - West Midlands
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    Default

    ^^^^^^^^^ Yes - I apologise that may look like a gross show of wealth. I was thinking in relation to people who transfer 100's of 1000's of pounds after house sales. This two years worth of savings which i to pay 12 months rent and support us for 18 weeks.
    Last edited by thepiesleys; 11th October 2006 at 02:59 AM.

  4. #4
    Join Date
    May 2005
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    Palmerston North - X Yorks UK
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    Default

    So Dan are you serious

    ???14 Million pounds???

    Or have you made a mistake with your commas????

    Don't mean to appear rude but if you are serious about the amount then why are you searching a forum like this for the answer wouldn't it be wiser to employ the services of a financial advisor??

  5. #5
    Join Date
    Sep 2006
    Location
    Wellington, NZ From Hants,UK
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    Default

    Hi Dan

    I think 14 million might be a stretch over internet banking

    No expert at all on this as I am looking into options myself but for 14 thousand any difference in exchange rates will still make a fair difference so I'd be looking at one of the companies like HIFX or HALO instead of the poor rates that the banks generally give.


    Cheers

  6. #6
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    Aug 2006
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    Auckland - West Midlands
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    Default

    *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...

  7. #7
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    May 2005
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    Palmerston North - X Yorks UK
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    ppppppppphew thought we were in the precence of a mega star there for a minute!!!!!!


    Well i can only tell you what we have done and why!

    We looked at companies like tranzfers and smart currency exchange. But the thing that put us off was that you transfer the money to a holding account - NOT an account in your own name!! Call me cautious but I'd rather keep it in my name thanks very much - there are people on the forum who have used these companies but we opted for a safer option.

    We contacted ASB, who are really helpful, they have opened an account in London (IN OUR NAMES) and an account in NZ, you do a chaps payment (cost 20) from your bank account to the london account which can be done in the same day, the rate that ASB offer is one cent below the market rate.

    The lady we have dealt with is called Kate Lancaster and her number is 020 7710 3592 if you wanted to give her a ring for a chat (just nice to hear the Kiwi accent!! )

    Can't tell you what the service will be like in NZ - will let you know in about 6 weeks time!

  8. #8
    Join Date
    Aug 2006
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    Auckland - West Midlands
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    Default

    Marcia - food for thought. many thanks.

    Are you happy to use ASB for all your banking requirements in NZ? I'm also in the process of opening a bank account.

    So what goes on with the London based ASB account when you have transfered the cashola?

    Cheers

    Dan 'dollars' Piesley

  9. #9
    Join Date
    Oct 2005
    Location
    Wellington, NZ (from Houston)
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    Default

    I've also been told by a soon-to-be coworker that you can use ATM's in NZ just like you do in the US (dunno if you're from US or not)....he says that the exchange rate is actually better (even factoring in the $2-$3 fee).

  10. #10
    Join Date
    Aug 2006
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    Auckland - West Midlands
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    Default

    Hi - were UK based and have heard that as well. In particular the Nationwide, we plan on opening one of those as well.

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