British Expats - Falling NZ Dollar

British Expats (https://britishexpats.com/forum/)

- Australia (https://britishexpats.com/forum/australia-54/)

- - Falling NZ Dollar (https://britishexpats.com/forum/australia-54/falling-nz-dollar-173042/)

Quote:

Originally posted by TIZUS
Ok In danger of sounding dumb but.... Can anyone explain the benifts in using a foriegn exchange company obviously you should get a better exchange rate, but what are the risks involved? How do they make their money? Has anyone any first hand experience of using a company? I have been looking at Halewoods?

Please excuse my ignorance never had to deal with anything much more than a few pounds pocket money before!!

Tori

Only thing I can think of is that companies like Halewoods are not regulated in any way, like a bank would be. So I think if there was a case of negliglence, fraud or some other failure it would be more difficult to get money back. That said, Halewoods have a good reputation and seem professional from my discussions with them. Any funds you send them are put into a trust account with Barclays, which is good practice.

Depends whether you think a Bank is more safe than a private company really - complaining through the Banking Ombudsman is also not the easiest thing in the world.

Southerner

Quote:

Originally posted by TIZUS
just checked exchange rates again ....

now 2.77 or .36 depending which way you look at it!

Could we reach the dizzy heights of 3:1 again????

heres hoping
Tori

It was a great day 3 years ago when I paid off my student loan in NZ at a rate of NZ3.66 - Ã‚Â£1!

Quote:

Originally posted by Sarah2004
It was a great day 3 years ago when I paid off my student loan in NZ at a rate of NZ3.66 - Ã‚Â£1!

Sarah

No need to feel so smug! Bet you wish you'd bought some more London property instead now don't you?

Quote:

Originally posted by southerner
Sarah

No need to feel so smug! Bet you wish you'd bought some more London property instead now don't you?

I know it is all very depressing at the moment! I remember sending down Ã‚Â£5000 and getting over $18000, it was like magic! Also wish I had bought some Auckland property after looking at the latest market figures down there. Its just not fair at the moment, house prices up and dollar down:mad: