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UK bank accounts and cash to bring over.

UK bank accounts and cash to bring over.

Old Jul 6th 2014, 4:23 pm
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Default UK bank accounts and cash to bring over.

HI

sorry if this has been done but I am currently chasing and 18 month around a tip whilst trying to sort out stuff for our move NEXT WEEK!!!

We are trying to get info on what is best to do - change up our savings or leave them in our UK account and do it when we arrive - we know about limits but will need cash for a car and also access to cash for food, bills, rent and the like until I have set up an NZ account and have wages from my job.Is it easier to take some in cash and then tx the rest from UK account into NZ account when it is set up?

Thanks in advance and sorry for being so dull and boring in my very practical advice request,

Emma
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Old Jul 6th 2014, 5:13 pm
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Default Re: UK bank accounts and cash to bring over.

You can set up an expat bank account from overseas fairly easily and transfer money into it. I was with Westpac and found them very quick and helpful but other banks will likely offer a similar service. I'd recommend having an account before you arrive just because large amounts of cash are a risk to carry and having a bank acct set up makes things like rent/mortgage and bill payments easier to get up and running. I had an appt with Westpac the day after I landed and walked out with my EFTPOS card the same day.

As for transferring over I guess its just a matter of checking the exchange rate and making sure it'll be favourable to you. Whatever money you do bring in whatever form make sure to include 'I didn't think of that' wiggle room. I made the mistake of assuming my salary that lasted me a month in the UK would last the same in NZ and ended up having to faff around with transfers at inconvenient times.
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Old Jul 6th 2014, 8:48 pm
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Default Re: UK bank accounts and cash to bring over.

Thanks for this info I have contacted both Westpac and BNZ. Hopefully Ill have one set up before we fly next Tuesday.
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Old Jul 6th 2014, 8:52 pm
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Default Re: UK bank accounts and cash to bring over.

Originally Posted by emmawoo77 View Post
HI

sorry if this has been done but I am currently chasing and 18 month around a tip whilst trying to sort out stuff for our move NEXT WEEK!!!

We are trying to get info on what is best to do - change up our savings or leave them in our UK account and do it when we arrive - we know about limits but will need cash for a car and also access to cash for food, bills, rent and the like until I have set up an NZ account and have wages from my job.Is it easier to take some in cash and then tx the rest from UK account into NZ account when it is set up?

Thanks in advance and sorry for being so dull and boring in my very practical advice request,

Emma
Use this as an excuse to go to London for the day

1: Catch a train from Brighton to London
2: Get a tube to Mansion House
3: Walk to the Commonwealth Bank at 85 Queen Victoria Street. Request to see someone about getting all the account set up. Once that's done, just take some form of ID with you to any branch and the money is ready

The account will be with ASB bank but so far I've had no problems with them

It's easy, it's an excuse to go to London and then you'll just have to pick up the cards etc when you arrive. No need to worry about transfers, you can transfer some money from your account into the NZ account once you've opened it in England.
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Old Jul 6th 2014, 9:13 pm
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Default Re: UK bank accounts and cash to bring over.

Easy as...we set up account with BNZ online and also Moneycorp and transferred whilst sitting at home, walked into BNZ on arrival and all was sweet.
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Old Jul 10th 2014, 9:41 am
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Default Re: UK bank accounts and cash to bring over.

Keep both accounts open. I still have my UK account and they know that I live in nZ, they were fine with that.

Ex pat bank accounts are easy to set up, do it before you leave if possible. I used westpac initially but now ANZ.

HiFX are the best people for transferring between accounts. I do it regularly from GBP to NZD and vice versa.
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Old Jul 10th 2014, 10:45 am
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Default Re: UK bank accounts and cash to bring over.

Hopefully you will have set up an nz account now. As M_and_M has said keep the UK account open and active. I use it quite often to send my eldest some money and pay for clothes from Marks and Tesco's. and of course pay for family gifts.
HiFx is also the transfer company we use. They use Barclays, our bank so everything goes very smoothly, even when I forgot to add the transfer details on payment they soon tracked it down for me.
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Old Jul 12th 2014, 9:59 am
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Default Re: UK bank accounts and cash to bring over.

Excellent help thanks I have set up an account with BNZ and a HiFX account and we are ready to tx online between the two accounts.

t minus 72 hours...... x
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Old Jul 12th 2014, 10:17 am
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Default Re: UK bank accounts and cash to bring over.

Also a HiFX user, westpac and ASB accounts! Not had any issues and if your transferring enough they will pre book an exchange rate for you
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Old Jul 13th 2014, 12:59 am
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Default Re: UK bank accounts and cash to bring over.

Hi Emma,
Good luck with your move. Not sure of your circumstances, but, when you are calculating how much to bring initially, please be sure to ensure add enough for unexpected expenses, you really don't need to be further stressed by financial issues. Money Corp are great, but it can take a day or two to get the money into your ANZ account. We have just switched from Westpac to them and they are great!
Afew things to consider: GST on any new items you are shipping 10% of their value, MAF clearance costs, Import liciences, Driving lieicences, clearance and handling fees on anything you bring, storage costs of your container, $2 /m3/day, deposits on rental property (friends/ of ours just paid ($3K on a bed house in Pukekohe), getting started on your food cupboard and freezer(!), Set up of bills, sky, Council tax etc. Car, (we paid $7.5K for a Honda fit from a dealership) kids enrolment fees at school, stationry and uniform, about $250 per child.
As I said, I am unsure of your specific circumstances, but hopefully it will help someone!
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