Genesis

Who does the best one? Any ideas? My bank Westpac appears to charge 2% for monies lodged in this type of account (seems excessive to me) and the interest is only about .075%!!!!

Alas at present the GBP is so weak I cannot do a foreign exchange deal at sub $2.50! Any ideas where the GBP is going? Apart from down the gurgler? The GBP is almost at one with the Euro. Do you remember when the euro was worth about 60p?

Thanks in anticipation of any replies. Happy new year!!

Genesis

HSBC don't pay ANY interest for GBP foreign accounts I have just found out. Think I will leave it in the UK and await the many many moons for the GBP to bounce back.

Does anyone else (either here or in the UK thinking of coming to NZ) have GBPs and doesn't know what to do with them. As ever I made a poor decision not buying at $2.80 a few weeks ago awaiting the fallout from the big interest rate drop here..alas the $ did not weaken but took an express train to where it is now. Bollocks.

nero

Yep have money in the UK - leaving it there for the moment and hoping things will improve ;-)

CarolineSwan

we are having a nightmare right now. we have a lot of money in the uk and we just leaving it there until it picks up again... but we needed some sent over to pay for car rent bond furniture etc, we decided to use forex as were giving much better rate than our bank back home.. so we set up the transfer by telephone one night and it wasn't in a few days later so i called and some how it was cancelled so re-set it back up and called this am to check where it was as we move into rental on sunday and our car is waiting for us, lo and behold no record of any transfer by our bank ... u guessed it we are pissed lol. so re-transfered again and forex going to keep the amount we got the transfer set up for so not loosing money that way. we went to take the car back the dealer lent us till our money through but he just told us to keep hold of it thank god, how nice was that, plus harvey norman cool about money for furniture being late ... all i need to do now is talk to quinovec about our bond so fingers crossed we not on the street come sunday lol

where has the 280 rate gone , bring it back lol so we can get all our money over

SLH

We still have money in the UK even though we have been here 5 years. Relatives deposit money into our UK account for birthdays etc and then we use our UK debit card to access it using a cash machine.

Whenever the dollar drops significantly and I want to bring a large amount of money over I do a Cash Advance, I go to my NZ bank (Westpac) and ask for a Cash Advance from our UK account, they fill in a debit slip and then get an authorisation number. You do not pay any transfer fee and just deposit it into your bank account here. We bank with Nationwide in the UK and they never charge fees for any use of their debit card either.

Hope this helps.

nero

Interested in how you do a Cash Advance from Westpac from your UK account. Did you have to set up anything specific with your UK account? Or with the Westpac account? Did you get a good exchange rate?
We have used HiFx but it can be a quite pretracted as you have to move money into their UK account before money can be transfered. Any help would be much appreciated. Cheers

NermaltheCute

We might have to transfer money back to the UK every month to pay our mortgage as our house hasn't sold, has anyone got any advice on the best way to do this? We may have the same situation in reverse if we end up renting our house. We won't be talking major money just a few hundred each way.