[Glenn]

How best do you open a NZ bank account while still in the UK?

Surely they will require credit references etc?

Regards

Glenn

[Michelle and Richard]

We opened an account with ASB in London and transferred money out with them to migrant banking over here. Has worked a treat all sorted when we arrived, just looked at bank statements etc and sorted credit cards.

Would highly recomend them for helpfulness alone.

Michelle

[Tara Sage]

I totally agree with Michelle, we opened and ASB account before we left UK and all our money was here waiting for us.

[Dinnaefash]

Did you guys exchange your money at the same time, or open a sterling account?? :?

[veronica]

we opened a sterling account and are doling it out like misers waiting for the exchange rate to buck up

[Moorf]

We're beginning to wonder if the exchange rate WILL buck up, especially if there are further interest rates on the horizon :?

[Tara Sage]

We just sent the money direct to our NZ Account we didn't like the idea of leaving our money in UK so took the consciquences on the exchange rate although I think we diodn't do too bad it has gone down since we arrived! :?

[Michelle and Richard]

We transferred 15 000 over to tide us over buy a car, rental deposit etc, this I believe is the minimum at which you could get a decent bank rate. We have left all our house sale money and investments back in the UK, I am pretty damn cautious and if this all goes to a can of worms we can go back to the UK and pick up where we left of (ish) I dont want it to but I dont want to cancel everything transfer it all out here and then in a years time transfer it all back becuase things haven't worked out.

We didn't open a sterling account with ASB as the rates (negotiable but about 4.2 to 5 ish) were not as good as we could get on instant access in the Uk


Maybe you could say its not the right attitude but we did tie up most things but I'm not cancelling everything until we know this is gong to work and for us there is quite a large risk element. I suppose everyone has there own circumstances to consider.

Michelle

[Dinnaefash]

We didn't open a sterling account with ASB as the rates (negotiable but about 4.2 to 5 ish) were not as good as we could get on instant access in the Uk


:eek What is the UK bank account??!! Best rate I've been able to get on a large sum with instant access is 3.75! :no

[Radders]

ING direct is 5% before tax and is instant access. It's a internet/phone account and need a uk bank account to transfer to and from

[Michelle and Richard]

Cahoot paying 5.5% and Leeds and Holbeck building society internet account 5.4%.

Both are no notice accounts, it takes 4 to 5 days to do a transfer by BACS or instant via chaps.

Michelle

[Dinnaefash]

Thank you, guys! :cheers

[Diny]

I agree with the idea about leaving money in the UK. Firstly to wait for the exchange rates to get better (hoping they will one day) - secondly for a safety net. Pesemistic/realistic/sensible? Who knows - but it works for us.

Diny

[funkstar deluxe]

can somebody post the ASB bank london branch details or website.
Can you apply online like Egg and others? or do you have to go there?

thnx

[Michelle and Richard]

Its Migrant Banking. 85 Queen Victoria Street London EC4V 4HA tel 02077103550 www.asbbank.co.nz There is internet banking but i dont think it works from the UK you need to have the account set up whn you arrive, at least thats what we did.

Michelle

[Timbo]

I am pretty sure I read somewhere that you have to have a NZ IRD number before you can open an account in NZ. Is this not the case?

[Moorf]

No, that is not the case - we opened an account within days of arriving - only needed proof of ID and an address OTHER than a PO Box - i.e. you residential address.

[Timbo]

Ta very muchly Helen.

[Glenn]

Hi all

We opened an ASB Bank account from the UK. All we did when we got here was show 2 forms of ID and the account was open. They can process a debit card there and then and their exchange rate for currency transfer is very good, similar to HIFX who we have used already.

Regards

Glenn