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moving money from uk to nz

moving money from uk to nz

Old Aug 24th 2006, 3:22 pm
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Default moving money from uk to nz

Hi, Ive been contacted by an agency about moving my £ to NZ. Why cant I just do a transfer from my uk bank account into my nz bank account? It must all be about exchange rates and getting a good rate, but these agencies must take their commissions. whats your experience?
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Old Aug 24th 2006, 3:42 pm
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Default Re: moving money from uk to nz

Originally Posted by bts016
Hi, Ive been contacted by an agency about moving my £ to NZ. Why cant I just do a transfer from my uk bank account into my nz bank account? It must all be about exchange rates and getting a good rate, but these agencies must take their commissions. whats your experience?
Hi You can transfer money from uk bank accounts Lloyds charge 30 quid a go .If you have phone bank you can transfer up to 5,000 over the phone 24 hours a day at a cost though.It faster but more expensive!!!
Jane
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Old Aug 24th 2006, 6:05 pm
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Default Re: moving money from uk to nz

Originally Posted by bts016
Hi, Ive been contacted by an agency about moving my £ to NZ. Why cant I just do a transfer from my uk bank account into my nz bank account? It must all be about exchange rates and getting a good rate, but these agencies must take their commissions. whats your experience?
You don't need to use an agency. And yes you are correct that your bank will be able to transfer money for you.

BUT unless you are transferring a very small amount of money, you should do some research into the exchange rate, fees and timescale of doing such transfers, for comparative reasons.

A relatively small variation in exchange rate could make quite a difference! At least check out companies such as Hifx - the rate should be quite a bit better than your bank. I suggest you do a 'test quote' with your bank and a couple of other specialist agencies before deciding.

I would however be a bit dubious about having been contacted 'cold' by an agency if this is the case - how would they get your details? I know some advertise on this site though.
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Old Aug 24th 2006, 7:13 pm
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Default Re: moving money from uk to nz

Originally Posted by bts016
Hi, Ive been contacted by an agency about moving my £ to NZ. Why cant I just do a transfer from my uk bank account into my nz bank account? It must all be about exchange rates and getting a good rate, but these agencies must take their commissions. whats your experience?
Hi,

We decided we didn't want to trust our money to someone else. We opened an ASB bank account (very simple, quick & easy) they open you a London & NZ accounts.
We transfered our money to the London account then had 2 choices - either the money would automatically be transferred to NZ same day OR you could phone London to check on rates and they would transfer the money on your instructions.
As long as you are transferring more than £30k in one go it is free, for under £30k charge is £15. Very reasonable.
If you want any more info send a PM.

Judy
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Old Aug 24th 2006, 8:55 pm
  #5  
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Default Re: moving money from uk to nz

Originally Posted by bts016
Hi, Ive been contacted by an agency about moving my £ to NZ. Why cant I just do a transfer from my uk bank account into my nz bank account? It must all be about exchange rates and getting a good rate, but these agencies must take their commissions. whats your experience?
www.tranzfers.com are really really good. Low fee, good exchange rate, money in your bank account in NZ$ very quickly.You can choose when you transfer to get the best rate. Internet site is very good, helps you keep tabs on what is happening (whereas with a bank the money just disappears... then reappears hopefully some days later). They answer their phone and I have had very good customer service just by ringing them up and quizzing them on how it works.
I would never use a bank for this. If you are transfering a lot of money then a small difference in exchange rate can make a big difference in NZ$.
No I don't work for Tranzfers, but have done many transfers over a number of years.
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Old Aug 24th 2006, 11:06 pm
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Default Re: moving money from uk to nz

I'd recommend Tranzfers too. I used them and HIFX. Tranzfers is really simple but HIFX offered poor advice and very pernickity about how the money was transferred. Tranzfers rate better too - you get what is on the computer screen.
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