Tom H

Wow

I've never been charged by ASB for international payments received. The only time I do get charged by them is if I make an international transfer through them which is $20.00 - no charge done by Deutsche Bank or HSBC (depending whether i'm transferring to Euros or Pound Sterling)

Chocoholics

I think it probably depends on the receiving bank in NZ. I would check with them first before making the transfer.

redtop12

Hi, Used Hifx lots earlier in the year. They don't charge but send directly to there landing bank who charge a fee to transfer it to your bank,Westpac in my case. You may not be charged if goes to the bank they use. Can't recall their bank, i did query the charge with mine as i wasn't expecting it but it was in the T &Cs

462

HiFX told me that they used to have an arrangement with Westpac, but as HiFX have now been acquired by Euronet Worldwide, that arrangement has been discontinued.

I have asked three FX companies and a rep from ANZ about the NZ banks 'landing fees' - all said that they were unaware of anyway to avoid them. There was confirmation that there is a third party in the chain - an intermediary and that is why NZ landing costs are higher.

I have been shopping around and discovered that some recommended FX companies will negotiate with you so that you always get the same fixed percentage off the mid-point - very useful! They refer to it as the 'spread' - "we are happy to trade for you with a spread of x percentage".