Exchanging Currency
April
11th March 2009, 03:55 AM
What is currently the cheapest and easiest way to transfer sterling to dollars please (large amounts i.e. 100,000s rather than 10,000s)? Is it through a bank account or agent? Any advice welcome.
Many thanks.
Ana&Steve
11th March 2009, 08:58 AM
Hi, a company like this www.hifx.co.uk will get you a better rate on large amounts but definably compare w/ similar companies and see if your bank can match as well.
Ana&Steve
11th March 2009, 09:01 AM
Oops I'm sorry, just reread that and am thinking you're looking for cash in hand and not a transfer? If so there is a limit on how much cash you can bring in to NZ. (I think it's $10,000 per person)
James 1077
11th March 2009, 02:19 PM
Oops I'm sorry, just reread that and am thinking you're looking for cash in hand and not a transfer? If so there is a limit on how much cash you can bring in to NZ. (I think it's $10,000 per person)
I'm assuming it is a transfer so would recommend HiFX as they have been good the times I've used them.
With respect to the bringing cash in limit it is only a limit in the sense that cash in excess of that needs to be declared. You can still bring it in but the customs officers want to record it and to know that you have a purpose for having so much cash (ie you aren't laundering it!).
April
12th March 2009, 03:18 AM
Thanks for the info, but we are looking to transfer money electronically (i.e. from a UK to NZ account), not into cash. What are the current charges of doing it the cheapest way?
kags1694
12th March 2009, 07:32 AM
Hi we have just moved over to NZ, we used Halo, no problems. We moved some money while we where in the UK and the rest while we have been here.
We set a rate of exchange that we would buy at and when it reach that figure they bought and we transfered the money into our account with them.
We found them very helpfull, and kept in touch with us all the time
Karen
James 1077
12th March 2009, 09:46 AM
I used HiFX for the transfers that I made. I agreed a rate that was a tiny bit below the market rate at the time (much closer to it than through a bank though) and organised to have transfered them the money a few days later (internet banking transfer UK to UK account). Once they received the money they converted it into NZ $ and transferred it to my NZ account.
Process took about a week due to the slowness of UK online bank transfers but was free and we got a great rate each time.
You can also set rates with them if you want to wait for a rate rather than transferring the money straight away.
