Currecy change

[andytheplumb]

Hi, my sister-in-law is moving to New Zealand and will need to change the money from her house sale and savings she has from pounds to NZ dollars does anyone know the best way to get a good rate???? thanks

[richafra]

Whatever you do don't go to your local high street bank - they'll charge through the nose. I've recently returned to NZ after several years in the UK - I'd recommend using either NZ Forex or HIFX which are both specialist forex brokers and give good rates. It's easy to set up an account and you can drip feed your funds if you don't want to exchange the whole lot at once.

[Memore]

i think you should do a bit more research my friends went back to new zealand quite a few years back now and I transferred the money from my bank here to there but the � wasnt so strong then so it was ok but now with the currency as it is you really should look around and get independent advice on it

[vindi48]

(1) Simply draw a cheque from the savings account and deposit it at a bank in NZ. That bank will exchange and credit the NZ$ to an open account. Takes 21 days to clear.
(2) Use the saving's bank Telegraphic Transfer facility BUT have the money sent in sterling so it is changed at the NZ end. UK banks charge the earth for almost nothing.
(3) Opening a bank account in NZ is simple provided the prospective customer is breathing continuously and remains vertical some of the time.
(4) Take money actually needed then have balance drip-fed across to NZ over several months - as suggested above. Daily exchange rate varies so while some rates will be better than others it will average out OK.