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New Zealand Dollars Question

New Zealand Dollars Question

Old Apr 25th 2010, 2:43 pm
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Question New Zealand Dollars Question

Hi all,

While I wait for an update for INZ regarding my interview, I have been making a list of things to do if I it all goes ok and one of those things is NZ money.

I was wondering what the best way to get NZ Dollars is. I need a residence (flat/house) in NZ before I can open a NZ bank account, and I need a job in order to know where I am settling, so we are talking about while I travel and look for a job.

I know that by using a UK based credit/debit card I will be charged either a rate or percentage to withdraw cash and make transactions in a foreign currency, so I thought travellers cheques ~ But they are hardly used anymore!

Obviously I will withdraw some NZD's in the UK before I depart.

I therefore have 2 questions:

1) What is a suitable sum of NZD's to get in the UK (Excluding cash for accomidation)?
2) What is the best way to pay for things once I am in NZ and looking for work. Credit card, debit card, travellers cheques or another way?

Thanks, Gizzy.
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Old Apr 25th 2010, 5:52 pm
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Default Re: New Zealand Dollars Question

Originally Posted by Gizmo27
Hi all,

While I wait for an update for INZ regarding my interview, I have been making a list of things to do if I it all goes ok and one of those things is NZ money.

I was wondering what the best way to get NZ Dollars is. I need a residence (flat/house) in NZ before I can open a NZ bank account, and I need a job in order to know where I am settling, so we are talking about while I travel and look for a job.

I know that by using a UK based credit/debit card I will be charged either a rate or percentage to withdraw cash and make transactions in a foreign currency, so I thought travellers cheques ~ But they are hardly used anymore!

Obviously I will withdraw some NZD's in the UK before I depart.

I therefore have 2 questions:

1) What is a suitable sum of NZD's to get in the UK (Excluding cash for accomidation)?
2) What is the best way to pay for things once I am in NZ and looking for work. Credit card, debit card, travellers cheques or another way?

Thanks, Gizzy.
hi unless its changed , we opened a bank account with ABS in 1991,and we were on holiday then, so you should not have any problems ABS also have an account in London where you cant open an account and they will transfer money, if you transfer more than £30,000 its free if you transfer less its £15
and they can arrange for you to have a expos card, which is like cash 99% of places take them, so when you arrive in nz you go to your nearist asb and prove who you are then you can sign for you card and off you go
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Old Apr 25th 2010, 6:47 pm
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Default Re: New Zealand Dollars Question

Originally Posted by Gizmo27
I need a residence (flat/house) in NZ before I can open a NZ bank account
No you don't mate.

En EFTPOS (electronic funds transfer at point of sale) card can be sent to the bank for you to pick up.
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Old Apr 25th 2010, 7:18 pm
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Default Re: New Zealand Dollars Question

Originally Posted by hazeandsteve
No you don't mate.

En EFTPOS (electronic funds transfer at point of sale) card can be sent to the bank for you to pick up.
My brother gives me dodgy information yet again.

One might think he dosn't want me moving to the same country as him

Thanks. I will look up the ABS/EFTPOS card thingys tomorrow.
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Old Apr 26th 2010, 6:40 am
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Default Re: New Zealand Dollars Question

Originally Posted by Gizmo27
Hi all,

While I wait for an update for INZ regarding my interview, I have been making a list of things to do if I it all goes ok and one of those things is NZ money.

I was wondering what the best way to get NZ Dollars is. I need a residence (flat/house) in NZ before I can open a NZ bank account, and I need a job in order to know where I am settling, so we are talking about while I travel and look for a job.

I know that by using a UK based credit/debit card I will be charged either a rate or percentage to withdraw cash and make transactions in a foreign currency, so I thought travellers cheques ~ But they are hardly used anymore!

Obviously I will withdraw some NZD's in the UK before I depart.

I therefore have 2 questions:

1) What is a suitable sum of NZD's to get in the UK (Excluding cash for accomidation)?
2) What is the best way to pay for things once I am in NZ and looking for work. Credit card, debit card, travellers cheques or another way?

Thanks, Gizzy.
No problems opening a BNZ a/c online, before you arrive with no NZ address, transfer £££'s using a FE service such as HIfx or Moneycorp, once you've arrived keep pre-arranged appointment with BNZ (they email you a/c details and to arrange appt.) to activate your account, collect EFTPOS card ....easy peasy but I admit a bit daunting when your in the UK and unfamiliar with NZ Banking.
HTH
B x
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Old Apr 26th 2010, 7:21 am
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Default Re: New Zealand Dollars Question

Concur with all above, but also using a UK credit card here is a relatively good way of transferring smallish amounts of UKP. There is a charge, but the exchange rate is usually OK.
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Old Apr 26th 2010, 8:20 am
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Default Re: New Zealand Dollars Question

For ABS, substitute it as ASB....If you want to open an account on line, from the UK, you can. We did it, no problems, all you have to do is register on line and then make a phone call to confirm. Simple!

Family, eh??
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Old Apr 26th 2010, 9:10 am
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Default Re: New Zealand Dollars Question

We opened an account with Kiwibank (http://www.kiwibank.co.nz) prior to leaving the UK using a Private Box (http://www.privatebox.co.nz/) street address our residence... we collected all of our bank details (including Eftpos cards) from a Wellington branch of Kiwibank upon arrival after presenting our ID (passports etc) and our welcome letter from Kiwibank (which was emailed to us). Our VISA Debit cards were posted to us within (I think) approximately two weeks after our visit to the branch.

Just as we left the UK (well... just before we left for the airport) we instructed Currencies Direct (http://www.currenciesdirect.com/) to transfer a lump sum to our Kiwibank account and it was sat in the account waiting for us when we walked in to the Kiwibank branch in Wellington. Although I haven't used an alternative currency broker I have absolutely no complaints about Currencies Direct or my contact there and would highly recommend them - if you want me to send you his contact details, just ask.

I continue to use CurrenciesDirect to make repeated (although smaller than the initial sum) but infrequent transfers to NZ, and in my experience it's much better to get the funds here through a broker (than a bank or credit card) - that is to say that I get a better exchange rate this way, but it does depend on the sums involved.
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