[Dom]

Hi,

If the worst comes to the worst and our house hasn't sold in time I might have to come over to NZ by myself and leave the wife to sell the house.

I guess I will need to transfer money over to a UK bank account for the mortgage to be paid in the UK.

Does anyone already do this ? We are with First Direct here in the UK. I imagine there will be bank charges each time I do this from NZ ?

So I am thinking of leaving some money in our joint account in the UK before I leave ?

However I still think there will be times when I need to make a deposit into it until we sell up.

Any advice greatly appreciated.

cheers

[holland]

My advice would be to try and sort it all out before you leave, if you can sort an NZ bank account online and know you can make transfers it is all set up then.

We waited until we got here...and had to wait ages to transfer money from UK to NZ...affected our first week here as had very limited money...

OR, like you say, leave some in the uk for a couple of months, and sort it when you get here as you will have time on your hands.

Unsure about charges, if you can sort it online it will be a lot cheaper...the account we have with westpac we only get charged if we use a human over the counter!!! Its free if we manage it ourselves online!!

Sorry I can't be more help, I am sure there are others that have been in the same situation that will be able to give you more specific advice.

J x

[Dom]

cheers.

Yes as it happens I have already spoken to ASB about setting up a bank to transfer from the UK - but I cannot use this for anything much else.

Its aimed at when you want to move your money out then they will transfer it over to your ASB account in NZ.

I guess I might look at the option of leaving money here in the UK (and hope my wife doesn't spend it all on clothes !!) :uhoh

[DMcG]

Most banks can do a telegraphic transfer (BNZ and HSBC certainly can). You'll get charged for the transfer (maybe $20 - depends on the bank) and the receiving bank may charge you as well.
I regularly transfer funds to the UK to prop up the mortgage on a rental property - usually only takes 2 or 3 days.

Dougie

[jubjub]

The other alternative I would suggest is to see if your mortgage provider will let you take a mortgage holiday, until the house sells, and hopefully the house sells before the holiday is over! (we got 6 months with Nationwide).

Just a thought....

[Smiler]

Leave some money in the Uk account if you can, saves worrying about doing it from here at time when you may be stressed enough as it is.

I regularly transfer money from our NZ to UK bank, it costs $20.00 a pop so I make it worth my while and transfer as much as I can. That then sits in the UK paying the direct debits. I also use my UK CC to buy pressies for family and don't pay conversion charges on my NZ one.

Just my opinion, but Nationwide have been fantastic since we moved, not batted an eyelid at all.:nice1 Abbey have been truly awful and we've moved all OH's stuff to Nationwide.

[gpbenton]

Online transfer companies can transfer money both ways, often at better rates and lower fees than banks. They do take a bit of setting up though.

Look at www.xe.com or www.nzforex.co.nz which I have used, and www.hifx.co.uk, which I have not.

[richard]

I use Tranzfers to move my money backwards and forwards as I can do an electronic transfer from the UK to NZ or back the other way without having to contact anyone else.

http://www.tranzfers.com/

You can choose the source and destination from any of the countries below and the cost is as listed.

From Australia - AU$15
From New Zealand - NZ$15
From the UK - GB£7
From Canada - CA$15
From Singapore - SG$15
From Hong Kong - HK$60
From Europe - EUR10
From Sweden - SEK20

There are no other hidden charges.

[jonSE]

Check out www.xetrade.com

Their demo transfer process is awesome - lets you step through the whole process as if you were doing it for real (but you aren't) . Need to set it all up for the first time a few days in advance of a real transfer though.

Used them to move money from to the UK/NZ/OZ no problems and as you pay in local currency and recieve in local currency no foreign exchange charges either.

The biggest bugbear was the limits on internet transfers with barclays in the UK meaning you have to personally contact barclays and get them to transfer anything over a grand.

[Potato]

I use Tranzfers to move my money backwards and forwards as I can do an electronic transfer from the UK to NZ or back the other way without having to contact anyone else.

http://www.tranzfers.com/

You can choose the source and destination from any of the countries below and the cost is as listed.

From Australia - AU$15
From New Zealand - NZ$15
From the UK - GB£7
From Canada - CA$15
From Singapore - SG$15
From Hong Kong - HK$60
From Europe - EUR10
From Sweden - SEK20

There are no other hidden charges.

Yes, I've used them a number of times. Good rates, decent speed. Can't complain. Though I've never done it any other way.

[Dom]

this is a useful thread - thanks to all that have contributed. It has helped.

cheers