Results 1 to 6 of 6

Thread: HiFX or MoneyCorp? Also which NZ bank to use?

  1. #1
    ConniePrags is offline Junior Member
    Join Date
    Mar 2009
    Location
    UK
    Posts
    15

    Question HiFX or MoneyCorp? Also which NZ bank to use?

    Does anyone have any comments on which of these 2 companies is better? Crown removals has suggested MoneyCorp, but I had already heard about HiFX. At the moment, MoneyCorp's rates seem marginally better. Also anyone have experience with NZ banks, good or bad? HSBC, my bank in the UK has offered to help me open an account in NZ, for a fee, but they don't really have very many branches outside the bigger cities. Any recommendations/ words of warning?

  2. #2
    MotherBear's Avatar
    MotherBear is offline The missing link
    Join Date
    Jan 2005
    Location
    currently Ras al Khaimah, UAE, ex Wales, UK
    Posts
    11,180
    Blog Entries
    1

    Default

    From reading and working on this forum over the last few years, both HiFX and MoneyCorp seem to perform well so it would just be a case of deciding which one can offer you the best deal. If want to do a search on here for HiFX and MoneyCorp, you can read other people's comments about their services.

    HSBC have their main branch in Auckland. I don't think they have branches outside of Auckland, which is a bit of a pain if you live in another part of the country, but you can do banking with them through Westpac Bank and there are plenty of their branches dotted around the place. We have an account with HSBC in NZ but get money out of the ATMs at Westpac. Perhaps someone already in NZ can elaborate about how much HSBC service you would get from a Westpac bank.
    Mother Bear

    Try to bloom wherever you are planted.

  3. #3
    zummerzet_lou's Avatar
    zummerzet_lou is offline your flexible friend
    Join Date
    Jul 2007
    Location
    Christchurch, NZ
    Posts
    447
    Blog Entries
    6

    Default

    I haven't done any comparisons, or spent a huge amount of time weighing up all the options .. so this is only my personal experience.

    We used Moneycorp on a few occassions: to transfer some initial funds (Approx 15k UKP),and later the proceeds from our house sale. On both occasions the transaction was easy - my broker even called regularly to catch up, and we had a watch on the rate, and he called when it reached our desired threshold.
    No fees, and money was in NZ approx 5-10 working days later.

    Bank account - I set up a NZ bank account with the national bank from the UK, and was able to transfer the initial money before "Activating" the account. Thus the money was sitting and waiting for our arrival. Would you believe the bank manager from NZ phoned my UK number when the funds arrived to let me know!!

    To activate the account, we simply went to the Auckland branch, showed them our passports, and they had our eftpos card sitting there waiting, so we collected them and away we went. Easy-peasy eh?

    Any questions, please shout.

    Lou
    EOI Submitted 8th July 2007, 140 points no job offer.
    EOI Selected 18th July 2007
    ITA pack received 12th Oct 2007
    Completed ITA posted to NZIS 26th November 2007
    Case Officer assigned approx 22nd Feb 2008
    Immigration interview 7th May 2008
    PR AIP 10th May 2008
    Arrived in NZ, August 13th

    Check out our website -> http://the-clarks.freehostia.com/

  4. #4
    ebianca's Avatar
    ebianca is offline Gingery, Peppery & Spicy
    Join Date
    Dec 2006
    Location
    WELLINGTON, New Zealand!!
    Posts
    1,019
    Blog Entries
    10

    Default

    Hi

    We to set up a NZ bank account from the UK to activate when we arrived and it was very easy.

    As regards to HSBC we set up an account in the UK that they said could connect to one here in NZ and we could transfer between with no fees etc. We also got a credit card linked to the account.

    We never set up the account at the NZ end as there are no branches in Wellington. We had our NZ bank account and online banking set up for the HSBC UK account so did transfers that way and we regularly use the HSBC credit card here in NZ with no probs at all. We could also withdraw cash from our UK account with our debit cards- just bear in mind the exchange rate when you do it.
    Flights booked for 24th March 2008!
    Landed in Wellington 26th March 2008!!

    Job Offer Received 9th July 2008!

    Temp Work Permit application submitted 11th July 2008!
    Temp Work Permit approved 4th August 2008!

    EOI Submitted 11th July 2008!
    EOI Selected 16th July 2008!
    EOI 'Successful' 1st August 2008!
    ITA Received 8th August 2008!
    ITA Aplication accepted 26th September!

    APROVED in Principle 10th June 2009!!!!
    Residency Visa issued 7th July 2009!!!!!

  5. #5
    ConniePrags is offline Junior Member
    Join Date
    Mar 2009
    Location
    UK
    Posts
    15

    Default

    'Bank account - I set up a NZ bank account with the national bank from the UK, and was able to transfer the initial money before "Activating" the account. Thus the money was sitting and waiting for our arrival. Would you believe the bank manager from NZ phoned my UK number when the funds arrived to let me know!!'

    Thanks everyone. I didn't see the point of paying to set up a bank account in NZ with HSBC, when they don't really have that much of a presence there.

    Lou, Is that the National Bank of New Zealand? Was it complicated? And how long did it take?

    Connie x

  6. #6
    Sulaco is offline Junior Member
    Join Date
    Apr 2009
    Location
    Hamilton - City of the Future!
    Posts
    5

    Post

    Hi there! For your foreign exchange requirement use Worldfirst, - best rates and by far the best service, I've used all the different FX specialist companies and they are the best by far. They have links on this site too! (Foreign Exchange - Currency Exchange - Currency Transfers - Money Transfer) Regarding a NZ bank, HSBC are not much use here except for corporate banking, they use Westpac for their personal banking network but their fee's are pretty high! Up to $5 for using a non Westpac ATM on a transaction!!! ASB always come out tops on customer service results and you can open an account with them from overseas. Other than that there is ANZ / National Bank (ANZ bought The National Bank of New Zealand Back in 2003) Or if a Building Society interests you; go for SBS (Southland Building Society) They have also just been registered as a Bank, but do not have much of a branch network in the north island - great to deal with tho! The other banks - BNZ and Westpac are pretty uninspiring....

Similar Threads

  1. Whose better Worldfirst or Hifx ??
    By crookie in forum General NZ Chat
    Replies: 3
    Last Post: 18-11-2008, 09:52 AM
  2. Moneycorp??
    By Rho in forum Making The Move
    Replies: 14
    Last Post: 03-07-2008, 10:59 PM
  3. Bank Charges in NZ?
    By katiej35 in forum General NZ Chat
    Replies: 14
    Last Post: 17-10-2007, 04:07 PM
  4. Do you need a NZ bank Account?
    By LilAmy in forum General NZ Chat
    Replies: 4
    Last Post: 07-06-2006, 10:58 AM
  5. HIFX
    By macfod in forum General NZ Chat
    Replies: 6
    Last Post: 20-04-2006, 10:39 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46