Thread: Buying/changing currency
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Old 17-03-2007, 05:17 PM
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Default Re: Buying/changing currency
Hi Dawn,

We've used HiFX, Money Corps and a sterling account with our NZ bank to transfer money from the UK in the last few months. ?

Generally speaking, we've got a better rate with the brokers than the bank. HiFX have been faultless, dead easy to deal with and we used their office in Auckland, so didn't have to phone in the middle of the night to speak to them. ?Their minimum transaction is ?5,000, which made me gulp a bit!

Money Corps were okay the first time I used them. ?Their minimum transaction is ?2,000 which I liked. ?Unfortunately, they had a 'telephone malfunction' when I rang to make a second transaction. ?I was put on hold when I asked to speak to my named broker. ?They didn't press the mute button properly and I heard every word of the conversation. ?It wasn't derogatory or anything, but the bloke was clearly in the office so I was surprised to be told he wasn't in and could I ring back tomorrow...

The bank option needed an international money transfer, which costs about ?25. ?Our UK bank has a maximum limit of ?10,000 per transaction unless you go into the bank in person, which isn't really an option when you live in NZ. ?We were told that we could deposit a stirling cheque in NZ, but it will take 30 days to clear. ?

We've transfered relatively modest amounts so far, but I'd love to know what people do when they transfer lump sums to buy a house! ?I'm half tempted to try PayPal....
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