[Perksy]

We should complete on our house in a week or so and will have about the equity from the sale. We are still about 5-6 months off leaving the country and don't know whether to put the money in a high interest account for a few months or set up an NZ account straight away and have it sitting there wating for transfer.

Can anyone advise the best route as I am assuming the accounts where the money waits for transfer aren't paying a very good rate in the interim. Equally I don't want to miss out if the exchange rate should start to look healthy again (in my dreams). Kim

[Mels]

Don't know the answer I'm afraid but there was a thread about off shore accounts, that might give you a higher interest rate and easier transfer at later date maybe?

Mels

[Super_BQ]

We don't know which country you're leave before going to NZ? The fact is NZ is paying very high interest on NZ$ accounts - so much that I think it's the highest among the OECD. 5 or 6 months @ 9% is pretty hard to beat and it's not likey the currency rates would change that much in short term. The only real currency that is devaluing is the USD so it all depends on where you're from.

BQ

[Perksy]

Mels: Thanks for that I will take a look for the thread
BQ: I am coming from UK so rate is not great but I hadn't considered the saving rates in NZ. I guess I could gain some money back if I transferred straight away and let it sit in a high interest in NZ. Kim

[eternalkiwi]

The other option that could be worth considering is using a GBP currency account with a bank in NZ. They do not offer as much interest as a NZD account, but due to the high interest rates paid in NZ they usually pay more than banks in the UK.
This could balance the better interest returns available in NZ and leave some opportunity to gain from an improvement in the NZD/GBP exchange rate over the next 6 months.
Shawn

[Perksy]

Cheers Shawn I will look into that as well - decisions, decisions ...