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Queries from two UK Pensioners Emigrating to Daughter & family in Auck - Tax&Pension

Queries from two UK Pensioners Emigrating to Daughter & family in Auck - Tax&Pension

Old Jul 28th 2015, 8:06 am
  #31  
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Default Re: Queries from two UK Pensioners Emigrating to Daughter & family in Auck - Tax&Pen

Originally Posted by 462
Thank you for that. I spoke with an ANZ rep who is chasing our banking business. When I asked about this point, she said that there was always a transaction/landing charge by ANZ. Could it be that when you emigrated and signed up this was not the case?
no idea to be honest, as far as I know I have never paid to receive money into my account here, but have not transferred any money over for a year or so. HiFx bank through Barclays (or they used to). I'm going to make a post asking just this.
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Old Jul 28th 2015, 8:35 am
  #32  
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Default Re: Queries from two UK Pensioners Emigrating to Daughter & family in Auck - Tax&Pen

I have enquired of HiFX and TorFX and they say that there is nothing they are able to do because these are charges from the transferring (sometimes even on-route) and receiving banks. Barclays act for both companies. I thought to ask this question because both companies get high ratings other than some very unhappy users who say that they were unaware of these additional costs. (It is in the small print, of-course!!)
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Old Jul 28th 2015, 9:28 am
  #33  
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Default Re: Queries from two UK Pensioners Emigrating to Daughter & family in Auck - Tax&Pen

well the exchange companies are not responsible for the charges the receiving establishments puts on
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Old Jul 31st 2015, 8:56 am
  #34  
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Default Re: Queries from two UK Pensioners Emigrating to Daughter & family in Auck - Tax&Pen

Originally Posted by Stormer999
Stormer is using a forex company to trade the money out of the Lloyds offshore into his NZ bank.There are several easy to use forex companies out there.

As Bevs says my pensions go into Lloyds Offshore sterling and I use Moneycorp to transfer into NZ$ on a regular basis into BNZ.
I was lucky enough to be able to open a Lloyds Sterling Premier Account that charged me not for transactions if I keep 2.5k sterling in there, they also give me and family free travel insurance. They no longer do that account.

If anyone knows where the UK pound sign is located on my NZ Netbook keyboard I would be extremely grateful...
I know this point was sometime back, but now having delved deeper into what FX companies do - could you explain why the requirement for an 'International' bank account? Lloyds have offered me one, but it needs £25k placed into it within three months and also charges £7.50pm (first 3 months free). They say you get a debit card.

But surely it would be better to have a NZ bank account (with a debit card), keep ones original UK bank account and use an FX company to execute international transfers either 'on-demand' or regularly if required? This would not 'tie-up' such sums of money and avoid regular charges. I gather it is in order to reduce the £25k over time.
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