[swade]

Hi all

Has anyone had any dealings with HIFX? Are there better ways of transferring money? Any advise re money transfer would be much appreciated.

Regards
Steve

[Debbie]

We are using them for our transfers, I haven't used anyone else so can't comment on them compared to others. They were efficient in their dealing with us. Im a financial novice and they explained everything to me. I guess you don't realize what you don't know but I felt comfortable enough to spend 40k with them as part of our program of transfering money. They can't give financial (market) advice but tended to stress how good the market is at this current time. You have to make up your own mind how high risk you are.
I liked their terms for the forward contract, (no money up front 10% down when rate achieved and infinatly deferable compleation) I don't know if these are standard across the industry. Friends have used and recommended them to us and OH thinks their rate is good, (I know nothing). Friends have advised that we set up a NZ HiFX account prior to going over as this is more time efficient and easier to access your funds.
Debbie

[Avalon]

I have also used Hifx, and can highly recommend them. Found them easy to deal with - and the are good at explaining the process in simple terms without treating you like an idiot (always a good sign in my book!)

Also, no fees - they make thier money in the difference between the rates they get and the rates they give you. So - the number they give you - is the number of $$$ that you get in your hands!

You should look at the rates you would get with your bank (and if they charge fees) as a comparison. In our case on £5k transfers (the minimum you can move with Hifx) - teh difference was coming to nearly $100.

If you are in teh UK currently - its worth knowing taht if you have a Nationwade account - you can use your Atm card to withdraw $$$ here with no charge - which can be very for smallish sums

[Tia Maria]

When we went to transfer our money, we got quotes from HIFX and the London side of our ASB migrant account. We got a much better rate with our migrant account. The downside is you have to wait for the London markets to open, (HIFX also have branches in NZ, so you never have to deal with time differences). Also you have to speak to London to get the best rate, as transfering money normally with ASB, will just get you the tourist rate.

Still the extra money we got was worth the extra hassle!

I think its worth setting up accounts with a couple of people, that way you can phone both on the day and be confident you got a good rate. I think some people even play them off against each other, but I'm no good at that sort of thing.

Cheers

Tia

[draig]

Used them just recently.

Very straight forward to use and a smooth transaction.

As someone else said they cannot give advice on future market trends.

[Avalon]

I think its worth setting up accounts with a couple of people, that way you can phone both on the day and be confident you got a good rate. I think some people even play them off against each other, but I'm no good at that sort of thing.

Have to say i aggree with this fully! It pays to shop around (you are after all Buying money - if you can shop around and save a few quid buying a nice pair of shoes - why not when you are buying NZ$ :) )

For us, Hifx gave us the best deal - by quite a bit - but its not always the case.

[Babette & Andy]

Same here. Have used them for all our money transfers, just arranged for the last one for next Monday. Easy to deal with, good rates. Based on our experience would highly recommend them.

Babette