[Georgebulldog]

Hi all
Just wondering if you could save me some time surfing & tell me what the best way is to transfer money to NZ, we're talking our equity so not a small amout really. We're going to open an account with Westpac soon but ust wondered if that is the best way to to do it
Any comments would be very welcome
Thank you
Lindsey

[Sam B]

Lots of people on here use XE.com, including me. It's a pain to set up an account (think lots of paperwork and ID) but worth it.

[Georgebulldog]

Thans Sam B
When you say i's worth it is it because of charges or the exchange rate?
Sorry I am being really lazy & hoping to skip through surfing for several hours & use everybodys knowledge on here instead ;)

[M&J]

We use NZforex, no fee over £10,000 and they have been excellent.

[Tattie]

Yeah, we used NZforex or Ozforex/Ukforex. All the same company but different time zones!

They only ask for a 5% deposit as opposed to loads of other companies who ask for 10%. They wanted a bit of paperwork but once set up you just ring them and its a doddle! We have done 2 forward exchange contractrs with them and changed the dates over the phone.

For info - Uk £ to NZ £ work on 2 cents below on bank exchange rate

e.g. if 2.73 expect 2.71

[Caroline and Dave]

Hi,
We use currencies direct. They always seem to have the best exchange rate and no charges over £5,000.

https://www.currenciesdirect.com/

Hope this helps

Dave and Caroline

[sfordjasiri]

I have used XE Trade xe.com for the past two years. The exchange rate is good. I only paid a wire fee of about $15 for each transaction. It is a hassle to do the paperwork, but it is worth it. You basically link your NZ account with your US or UK account and then use their website to transfer money between them.

[kirkandliz]

Hi

I have used a number of companies now for varying sums at different stages. These have included
Halo
HIFX
Eldridge Lynch - FX.co.nz
Custom House

All easy to deal with and easy to transfer money with but these two things I have learned:

NEVER pay a fee - especially if you are transferring a sizeable sum of money
Shop around - play the companies off against each other and squeeze the rate - they are making a good margin so there is room to move.

The best company I have comes across is Eldridge Lynch (Search for fx.co.nz) - web site is very good with the ability to see a constantly updating rate (Every 30 secs)
Although this does become a nightmare as you sit there with you finger poised over the button - always hoping for a move in your direction.
And if transferring from UK to NZ there are no charges and they came out at better rates than other companies like HIFX & Halo - so win win!

[whiskythedog]

We used Hifx and they were more than helpful in the uk and nz.

[CliffordClark]

Thanks everyone, very useful to me too

[marcia]

We've used ASB, opened an account with the london branch whilst we were in the uk, they opened an account in NZ for us, which we activated on arrival no problems, the money has always been in an account in OUR name (not an unknown holding account!), earning interest whilst we wait for a good exchange rate, it only takes 3 days to get to your ASB account in NZ, no fees as long as you transfer £30K or more. The exchange rate they offer is one cent below the arte you see on places like the smart currency website etc. :nice1

If you want any more details send me a Pm!