How did you? NZ
Jun 26th 2003, 8:54 am
#16
Forum Regular
Joined: Feb 2003
Location: Auckland
Posts: 161
At the time I got NZ$3.46 for every pound transfered.
They typically quote the Interbank rate plus 1%.
Interbank rates can be found at http://www.oanda.com.
They typically quote the Interbank rate plus 1%.
Interbank rates can be found at http://www.oanda.com.
Jun 26th 2003, 10:15 am
#17
Just Joined
Joined: Jan 2003
Location: London
Posts: 11
Interest Rates
Just to get back to the brief point made earlier regarding interest rates. Yes, they are generally better in NZ than the UK (for savers that is). Check out www.interest.co.nz for a list of the rates offered for both savers and borrowers by dozens of NZ banks, building societies, finance companies etc.
Jul 8th 2003, 9:59 am
#18
Forum Regular
Joined: Jul 2003
Location: On the beach in Christchurch
Posts: 43
When my partner and I emigrated I simply used wire transfers from my brokerage and bank accounts.
The cost of each wire transfer was $15, I believe.
The most important detail to consider is the RATE at which your money will be converted to a foreign currency.
I closely monitored the currency exchange rates using Yahoo(which displays the INTERBANK rate):
http://finance.yahoo.com/m3?u
and I spoke with my account managers about this at length to ensure I received as sharp a rate as possible for a retail customer. If you don't ask, you may wind up paying the same extortionist rates as occurs when changing small amounts of money at a tourist destination.
Just a thought....I hope it helps.
The cost of each wire transfer was $15, I believe.
The most important detail to consider is the RATE at which your money will be converted to a foreign currency.
I closely monitored the currency exchange rates using Yahoo(which displays the INTERBANK rate):
http://finance.yahoo.com/m3?u
and I spoke with my account managers about this at length to ensure I received as sharp a rate as possible for a retail customer. If you don't ask, you may wind up paying the same extortionist rates as occurs when changing small amounts of money at a tourist destination.
Just a thought....I hope it helps.
Jul 8th 2003, 8:42 pm
#19
Here in Dunedin
Joined: May 2003
Location: Dunedin
Posts: 1,975
Regarding the higher interest rates in NZ - my personal view is that these will come down in comparison to the rest of the world. The knock on effect of this would be to weaken the NZ dollar.
Therefore if you have savings, you have a choice of higher interest rates in NZ versus being able to transfer the money at a later date from Uk at possibly a better rate (your £1 will buy more $)
Who knows which way this will go? It is something I am keeping an eye on.
Therefore if you have savings, you have a choice of higher interest rates in NZ versus being able to transfer the money at a later date from Uk at possibly a better rate (your £1 will buy more $)
Who knows which way this will go? It is something I am keeping an eye on.
Jul 8th 2003, 9:12 pm
#20
Forum Regular
Joined: Jul 2003
Location: On the beach in Christchurch
Posts: 43
Originally posted by southerner
Regarding the higher interest rates in NZ - my personal view is that these will come down in comparison to the rest of the world. The knock on effect of this would be to weaken the NZ dollar.
AGREED.....here's a link to an NBR article on anticipated NZ interest rate moves:
http://www.nbr.co.nz/home/column_art...Business+Today
In a nutshell.....currently 5.25%.....pegged to drop 1% within a year.
Therefore if you have savings, you have a choice of higher interest rates in NZ versus being able to transfer the money at a later date from Uk at possibly a better rate (your £1 will buy more $)
Who knows which way this will go? It is something I am keeping an eye on.
Regarding the higher interest rates in NZ - my personal view is that these will come down in comparison to the rest of the world. The knock on effect of this would be to weaken the NZ dollar.
AGREED.....here's a link to an NBR article on anticipated NZ interest rate moves:
http://www.nbr.co.nz/home/column_art...Business+Today
In a nutshell.....currently 5.25%.....pegged to drop 1% within a year.
Therefore if you have savings, you have a choice of higher interest rates in NZ versus being able to transfer the money at a later date from Uk at possibly a better rate (your £1 will buy more $)
Who knows which way this will go? It is something I am keeping an eye on.
All I know is, whenever I try to predict exchange rate moves...I lose!
Bets of luck!
Jul 8th 2003, 9:26 pm
#21
BE Enthusiast
Joined: Jan 2003
Location: Hawkes Bay
Posts: 359
We intend to migrate in September. Since the beginning of the year we have lost the equivalent of a 4x4 in the depreciation of Sterling.
I can't moan about how good the rates were two years ago etc as the equity on the house wasn't that much. Three years ago I couldn't have even afforded to emmigrate without the rise in house prices - this is how I console myself with the exchange rate moves.
Had considered to move my money into a sterling account with ASB Bank. They quote their rate today as $2.75 to a pound. Halewoods rate is $2.76 (reasonable I suppose). Now I'm not planning to transfer my hard earned cash at that rate. However interest in their account only gains 2.75%.
Anyone got an idea how to gain better rates of interest in sterling for an easy transfer later on?
Yours worried,
Roger
I can't moan about how good the rates were two years ago etc as the equity on the house wasn't that much. Three years ago I couldn't have even afforded to emmigrate without the rise in house prices - this is how I console myself with the exchange rate moves.
Had considered to move my money into a sterling account with ASB Bank. They quote their rate today as $2.75 to a pound. Halewoods rate is $2.76 (reasonable I suppose). Now I'm not planning to transfer my hard earned cash at that rate. However interest in their account only gains 2.75%.
Anyone got an idea how to gain better rates of interest in sterling for an easy transfer later on?
Yours worried,
Roger
Jul 8th 2003, 10:29 pm
#22
Life's next chapter is?
Joined: Jul 2003
Location: NW England...for now.
Posts: 942
Money transfer
Hi Tori,
I'd use NZForex - Matt Gilmour is a really on the level guy. It's a subsiduary of OzForex, so it's safe. You can send all the money at once or have them hold it for a better exchange rate.......
Go to http://www.ozforex.com.au/
good luck, all the best, Rich.
I'd use NZForex - Matt Gilmour is a really on the level guy. It's a subsiduary of OzForex, so it's safe. You can send all the money at once or have them hold it for a better exchange rate.......
Go to http://www.ozforex.com.au/
good luck, all the best, Rich.
Jul 9th 2003, 10:00 am
#23
BE Enthusiast
Joined: Jan 2003
Location: Hawkes Bay
Posts: 359
Halewoods rate seems to be one of the betters.
www.hifx.co.uk
Roger
(just trying to keep this on top as it's a worthwhile thread)
www.hifx.co.uk
Roger
(just trying to keep this on top as it's a worthwhile thread)
