Help! Transfer of funds from Natwest account to Westpac account!
#1
Just Joined
Thread Starter
Joined: Jul 2011
Posts: 8
Help! Transfer of funds from Natwest account to Westpac account!
Hi all, advice please!! I opened a new Westpac account and they sent me details on how to transfer funds from my UK account to the Westpac account, including account number and swift code. When I went into Natwest to do this, they said they needed a national clearing code, not a swift code. They tried the swift code, but it didn't work. I contacted Westpac and they gave me the apparent clearing code, but this still didn't work! Natwest are at a loss as was the Westpac staff member we spoke to on the phone! Anyone experienced similar and what did you do?!
Thank you in advance
Thank you in advance
#2
Forum Regular
Joined: Jul 2008
Posts: 63
Re: Help! Transfer of funds from Natwest account to Westpac account!
we went through a company called Halo Financial to transfer some money over, they have better rates of transfer than the British banks and I think it was about £15 per transfer. we called them asked them what rate they had, opened our account with them transferred money from our bank into our Halo account then transferred in to the NZ account. all done and dusted within 3 days.
#3
Forum Regular
Joined: Jan 2003
Location: Scotland
Posts: 103
Re: Help! Transfer of funds from Natwest account to Westpac account!
I used http://www.hifx.co.uk/ and they were pretty quick too
#4
Re: Help! Transfer of funds from Natwest account to Westpac account!
Hi I have done this many times. Hope this helps
What is the SWIFT code for Westpac New Zealand and how do I transfer money from overseas?
SWIFT codes are assigned to banks around the world to help with electronic payments.
The SWIFT code for Westpac New Zealand is
WPACNZ2W
Depending on the country you’re in, you may also be asked for
a BIC (bank identifier code)—this is the same as the Westpac SWIFT code: WPACNZ2W
an IBAN (international bank account number)—use the full bank account number that is to receive the funds, with no spaces or dashes
a BSB, sort code or FW—use the bank and branch number of the account receiving the funds i.e. the first 6 digits of the full bank account number.
Please instruct the initiating bank to send the money directly to
Westpac Banking Corporation
Wellington
New Zealand
The SWIFT code for Westpac New Zealand is WPACNZ2W.
The account name and full account number of the account to receive the funds must be included for processing.
Account number should be formatted as follows
Bank and branch number, seven digit account number and two digit account suffix
e.g. 03-XXXX-XXXXXXX-XX
What is the SWIFT code for Westpac New Zealand and how do I transfer money from overseas?
SWIFT codes are assigned to banks around the world to help with electronic payments.
The SWIFT code for Westpac New Zealand is
WPACNZ2W
Depending on the country you’re in, you may also be asked for
a BIC (bank identifier code)—this is the same as the Westpac SWIFT code: WPACNZ2W
an IBAN (international bank account number)—use the full bank account number that is to receive the funds, with no spaces or dashes
a BSB, sort code or FW—use the bank and branch number of the account receiving the funds i.e. the first 6 digits of the full bank account number.
Please instruct the initiating bank to send the money directly to
Westpac Banking Corporation
Wellington
New Zealand
The SWIFT code for Westpac New Zealand is WPACNZ2W.
The account name and full account number of the account to receive the funds must be included for processing.
Account number should be formatted as follows
Bank and branch number, seven digit account number and two digit account suffix
e.g. 03-XXXX-XXXXXXX-XX
#5
Re: Help! Transfer of funds from Natwest account to Westpac account!
I used Halo Financial in the past and it is cheaper than transferring through a bank as they offer better exchange rates. Depending on how much you're transferring it can be very worthwhile. I did not pay any fees, maybe that depends on how much you're transferring?
The only fee I paid was a $15 charge from my NZ bank to process an overseas order.
If you don't need the money immediately you can 'request' an exchange rate, I won't make you all weep with jealousy at the rate I got 2 years ago. As soon as the rate hits that amount Halo buys the $ and then charges you, you then transfer the amount in £ to their account and they send the $ to your NZ account. I probably wouldn't use a bank transfer again, those extra dollars will be needed!!
The only fee I paid was a $15 charge from my NZ bank to process an overseas order.
If you don't need the money immediately you can 'request' an exchange rate, I won't make you all weep with jealousy at the rate I got 2 years ago. As soon as the rate hits that amount Halo buys the $ and then charges you, you then transfer the amount in £ to their account and they send the $ to your NZ account. I probably wouldn't use a bank transfer again, those extra dollars will be needed!!
#6
Re: Help! Transfer of funds from Natwest account to Westpac account!
Hi all, advice please!! I opened a new Westpac account and they sent me details on how to transfer funds from my UK account to the Westpac account, including account number and swift code. When I went into Natwest to do this, they said they needed a national clearing code, not a swift code. They tried the swift code, but it didn't work. I contacted Westpac and they gave me the apparent clearing code, but this still didn't work! Natwest are at a loss as was the Westpac staff member we spoke to on the phone! Anyone experienced similar and what did you do?!
Thank you in advance
Thank you in advance
#7
221b Baker Street
Joined: Jun 2010
Location: Miles from anywhere, Victoria, Australia.
Posts: 14,125
Re: Help! Transfer of funds from Natwest account to Westpac account!
#8
Re: Help! Transfer of funds from Natwest account to Westpac account!
Oh my gawd, dont do it direct with your bank!!! Use a currency broker, they are all pretty much the same rates but loads better than what your bank will offer.
We use currencies direct and have moved money about 5 times with no hassle.
The exchange rate is pretty poor at mo but doesnt seem likely to improve much anytime soon.
Depending on how much you are moving, then it can pay to move money in chunks as and when you need it and just monitor the rate.
A good currency broker will explain all this..
We use currencies direct and have moved money about 5 times with no hassle.
The exchange rate is pretty poor at mo but doesnt seem likely to improve much anytime soon.
Depending on how much you are moving, then it can pay to move money in chunks as and when you need it and just monitor the rate.
A good currency broker will explain all this..
#9
Just Joined
Joined: Mar 2012
Location: New York, New York
Posts: 4
Re: Help! Transfer of funds from Natwest account to Westpac account!
I've got the answer to this, after experiencing the exact same problem with a US account, trying to transfer from Natwest to a Chase bank account.
It took me TWO HOURS on the phone to Natwest to get to the bottom of this, before I found someone with enough determination, after being passed from pillar to post by a number of telephone banking and online banking 'advisors'.
Basically, the issue is a matter of terminology. It seems no banks outside the UK know what this 'NCC - National Clearing Code' is, which Natwest specify on their Relay payments.
I discovered eventually that the NCC is referred to as the ABA or Routing/Transit Number in the US. It's a nine digit number that can be found on the bottom of most cheques attributed to the bank it belongs to.
I don't have a cheque book with Chase, but a quick google revealed a Chase web page with routing numbers for all their branches. It's determined by your region.
I entered the routing number from Chase and the Relay transfer from Natwest went through fine. Natwest really need to add an info button next to the 'NCC' field to explain that it may have a different name depending on the country they are sending to, and even a list of those names by country and region.
Cheers
It took me TWO HOURS on the phone to Natwest to get to the bottom of this, before I found someone with enough determination, after being passed from pillar to post by a number of telephone banking and online banking 'advisors'.
Basically, the issue is a matter of terminology. It seems no banks outside the UK know what this 'NCC - National Clearing Code' is, which Natwest specify on their Relay payments.
I discovered eventually that the NCC is referred to as the ABA or Routing/Transit Number in the US. It's a nine digit number that can be found on the bottom of most cheques attributed to the bank it belongs to.
I don't have a cheque book with Chase, but a quick google revealed a Chase web page with routing numbers for all their branches. It's determined by your region.
I entered the routing number from Chase and the Relay transfer from Natwest went through fine. Natwest really need to add an info button next to the 'NCC' field to explain that it may have a different name depending on the country they are sending to, and even a list of those names by country and region.
Cheers
#10
Re: Help! Transfer of funds from Natwest account to Westpac account!
don't use the banks! Hang on let me shout it, DON'T USE BANKS. The exchange rate is the same as their tourist rate - rubbish, We used hifx, same as Johneastriggs - very quick, better rate, a I think we paid about fifteen pounds to do it.
What I remember most about them was that once you set the rate, if the rate goes up/down between setting it and changing it the rate you set doesn't! I think, from memory you can set a transfer date up to 6 months in advance.
What I remember most about them was that once you set the rate, if the rate goes up/down between setting it and changing it the rate you set doesn't! I think, from memory you can set a transfer date up to 6 months in advance.
#11
Re: Help! Transfer of funds from Natwest account to Westpac account!
When I used hifx I was able to use my debit card for my UK account and it was transferred straight into my NZ bank. I also used exe.com for direct transfer which worked fine. I did have to talk to them by phone as the terminology got me confused too. The person on the end of the phone was very helpful.
#12
Just Joined
Joined: Mar 2012
Location: New York, New York
Posts: 4
Re: Help! Transfer of funds from Natwest account to Westpac account!
don't use the banks! Hang on let me shout it, DON'T USE BANKS. The exchange rate is the same as their tourist rate - rubbish, We used hifx, same as Johneastriggs - very quick, better rate, a I think we paid about fifteen pounds to do it.
What I remember most about them was that once you set the rate, if the rate goes up/down between setting it and changing it the rate you set doesn't! I think, from memory you can set a transfer date up to 6 months in advance.
What I remember most about them was that once you set the rate, if the rate goes up/down between setting it and changing it the rate you set doesn't! I think, from memory you can set a transfer date up to 6 months in advance.
How fast? Can you do same and next day?
#13
Re: Help! Transfer of funds from Natwest account to Westpac account!
Thanks for the advice chaps. Still, not really sure what you mean by 'once you set the rate, if the rate goes up/down between setting it and changing it the rate you set doesn't' but I guess that'll become clear by using hifx, and I guess you are saying the exchange rates are overall better than banks', and just as fast.
How fast? Can you do same and next day?
How fast? Can you do same and next day?
It doesn't take long for the money to appear in your NZ bank account. I think it might have been a couple of days.
#14
Re: Help! Transfer of funds from Natwest account to Westpac account!
JMH is right on to it.
When you sign what ever that rate is at that time it's set. But you could have up to 6 months to actually move the cash. so you could be quids in if it drops and out if it rises. You are playing the market! Exciting !
We 'made' and extra few THOUSAND! just by playing the market. Actually I think it was luck.
Still much better off than doing it through a bank
When you sign what ever that rate is at that time it's set. But you could have up to 6 months to actually move the cash. so you could be quids in if it drops and out if it rises. You are playing the market! Exciting !
We 'made' and extra few THOUSAND! just by playing the market. Actually I think it was luck.
Still much better off than doing it through a bank
#15
Just Joined
Joined: Mar 2012
Location: New York, New York
Posts: 4
Re: Help! Transfer of funds from Natwest account to Westpac account!
JMH is right on to it.
When you sign what ever that rate is at that time it's set. But you could have up to 6 months to actually move the cash. so you could be quids in if it drops and out if it rises. You are playing the market! Exciting !
We 'made' and extra few THOUSAND! just by playing the market. Actually I think it was luck.
Still much better off than doing it through a bank
When you sign what ever that rate is at that time it's set. But you could have up to 6 months to actually move the cash. so you could be quids in if it drops and out if it rises. You are playing the market! Exciting !
We 'made' and extra few THOUSAND! just by playing the market. Actually I think it was luck.
Still much better off than doing it through a bank