[NannyOgg]

Hi All

Will be entering NZ with around £100,000. Don't know weather to keep it in UK until rate improves (assuming it does) OR open a stirling account once in NZ and transfer the money there. What has anyone else done?

Thanks

Nanny

[foolsgold99]

current exchange rate is as good as it's been for a few years, I'd convert

[katandbob]

1.00 GBPUnited Kingdom Pounds = 3.01652 NZD New Zealand Dollars :) :) :cheers

on xe.....god I wish our money transfers soon from our bank to the holding account I want to convert it :uhoh before it drops...

oooh the butterflies are swarming...

Kat

[diforsyth]

Once you have a non-UK address you could hold it an Offshore bank account (eg Abbey International) and use a company like HIFX to transfer when ready.

Offshore interest is slightly lower but you won't be hit with the 39% NZ tax. HIFX can hold rates & book them in advance and I think don't charge commission.

[roddixon]

I spoke with HIFX last week and they will let you keep the exchange rate that you lock in at for up to two years-you do need to pay a 10% deposit.
This is what I'll do-but when to lock in ????????????
IMHO it still has further to fall..............

Hope this helps.