[RJLink]

How long have you had to wait for them to process an exchange? I'm talking about when you've already got your account set up, and you instruct them to wire the funds.

I do not understand why this has to take more than a day or two--especially when the money has already been taken out of my account to pay for the NZ dollars. I'm beginning to suspect their customer service - once they even "forgot" (or whatever) for three weeks to deliver my money via cheque.

Or do I just need to chill?

[clg]

It takes about 3-7 days, they need to confirm receipt of funds to be exchanged then your NZ bank has to confirm receipt of the funds. Seeing it leave your account is not the same as XE receiving it. It does work fine so no worries.

[RJLink]

Thanks. It's been seven days. Next time I won't wait until I'm completely out of NZ dollars to make a trade.

[TJH]

I concur it takes about 7 business days on average. I have done 5 trades into my Kiwibank account from an account in the US and have had no issues to date.

[Mrs Pony]

We had to fax them paperwork too after we did everything on the site...They wouldn't put the money into the NZ account until that was done. It's was such a hassle!

[Bozeman]

I have done this both via Electronic Funds Transfer and via Wire - this is on the US end; the NZ end is by wire either way. Via EFT it takes several days. The last transfer done via Wire was concluded within one day. The XEtrade representative I spoke with on the phone basically said Wire is the only way to go. It cost me $15 (charged by my US bank) but that was nothing compared to the peace of mind gained. If you call XEtrade, they will tell you exactly what needs to be done.

[IanW99]

I have done this both via Electronic Funds Transfer and via Wire - this is on the US end; the NZ end is by wire either way. Via EFT it takes several days.
...


Just in case you weren't aware, it is now possible to transfer funds by EFT at the NZ end as well for many countries including the USA.

Option: Delivery by EFT Electronic Funds Transfer (ACH)
Choosing this delivery option directs us to automatically deposit the funds to a specified bank account. This account can be your own, or can belong to the recipient of your choice. Sending funds by EFT from XE Trade is free. EFT is relatively fast, although not as fast as a Wire Transfer. Free delivery via EFT is currently available for the following currencies and countries:

AUD to Australia.
CAD to Canada.
EUR to France, Germany, Italy, Netherlands and Spain.
GBP to The United Kingdom.
NZD to New Zealand.
USD to The United States or Canada.

Ian