viv jones

We are getting nearer to hitting Auckland having sold our UK house and visa moving along OK etc but I was wondering if anyone had any advice re exchanging "large" amounts of money when the final move goes ahead. I was planning to do this via an online company...anyone had good or bad experiences...the rate seems panse at the moment!!!
Thanks Viv

Persephone

The rate is not good at the moment so if you can avoid changing then do so. If you have to then take the hit-you need the cash.
I still have funds in the UK but transferred some earlier this year when the rate was good. I used Halo Financial but other companies do the same. They do give a better rate than banks, don't know much about online companies. I do not need the cash urgently so have set a limit, the money sits in my account until the exchange rate hits a certain rate at which point Halo will buy the dollars and I then pay for them and they go into my NZ account. Very simple. Unfortunately the rate just keeps dropping at the moment-waiting for a spike As I said I can sit it out for now at least...

viv jones

Thanks
With your experience what do you consider to be a good rate please?
If the company you use is not an online one can I find their details/telephone number through Goggle do you think? Sorry I opened this reply before I thought to check!!!
Viv

Persephone

Hmmm a good rate??? I exchanged when the rate was good at 2.85 in March. Now it's much much lower. I do get a weekly graph of how the rate is doing emailed to me from Halo and at the moment it seems pretty stable at the 2.45/2.5 mark. I have got an order to change if it reaches 2.80 but whether that will happen soon, who knows?
Problem is that it is always difficult to predict what will happen. If the rate is low and you can wait then maybe worth seeing what will happen. As I said, if you need that cash to get you over here and settled in then you just have to go for it [and avoid looking at the rates afterwards!!!]

Graph of exchange rates UK-NZ This is their long range one, usually it's only for about 12m!
You can find their details online, may be able to use them online, I have only ever phoned them

viv jones

Appreciate your help and I will follow up and look at your suggestion. Thanks for the link to the overview graph too...depressing!!!
Viv

Persephone

I know, sorry