Every now and then I do this and it costs a lot more than the original amount. Is there any way of by passing the bank fees?
Sending Money (NZD50) to NZ Bank
anna10 on 01/03/2015 - 15:40
Comments
PayPal? I personally hate it, but you can withdraw to bank accounts.
The person selling me something wants direct payment into the bank. I didn't know I could do direct debit into a bank from Paypal. I have my credit cards attached to Paypal, would that work? I'd need the vendor to get the full amount and I pay any charges.
(On the odd occasion that I have done it, I have had to go to the bank and it's a waste of time and it's expensive).
Just to clarify, it would need the other person to have Paypal.
Yep, you are right of course.
And you'd have to wear PayPal's exchange rate which is typically pretty bad, although on $50 maybe negligible.
Yes, you can link your credit cards, debit cards or bank accounts to pay via Paypal. You can also 'send money to a friend' or as a 'gift' and then you have the option of paying the transfer fees yourself or passing them on to the receiver. (Note: If you just send money without selecting friend/gift then the fees will be deducted from the payment)
The receiver would also need to have a paypal account and they are able to link their bank account to withdraw the money straight to their account (2-4 days processing time depending on bank).
Currencyfair seems to be a good option. I need to get some money from NZ soon and will be trying it out, Choice seemed to rate them.
I have used Currencyfair multiple times to move money from UK to Australia. It was very good and much cheaper than a bank. You must have a bank account in both countries.
What are the Currencyfair fees Vs PayPal.
On say $50NZ.
I sporadically buy off TradeMe in New Zealand. As my purchases are small transactions the only 'transfer' method that works for me is AUD notes in an envelope. I tried bank transfer but the banks wanted a minimum $25 for a transfer fee. Stuff that for a joke!
In the case of auction sites (not sure if that is what the OP is doing) NZ sellers will accept AUD notes if you have good feedback - besides, they will not post until they receive the cash, so not skin off their nose.
Thanks, I will suggest it to the Trade Me seller. Or, I could buy some NZD and send them those.
My boss at $work has used OrbitRemit for years to pay the workers in the Philippines. They charge $8.00 AUD for sending money from an Australian account to New Zealand. The fee probably isn't worth it for only 50 NZD but worth considering in any case. Bonus: You can send money to the USA for $0.00.
do ANZ (austalian & newzealand bank) allow this cheaply after all its A N Z… You would think they would have this sorted!
Not if they think they can charge money :)
Has anyone tried an on line transfer with the Citibank Visa Debit Card? I see it advertises no fee transfers internationally. If that is correct, it would be very useful.
Merged from Best Way to Transfer Money into NZ Bank Account
Hi folks,
What's the best/cheapest way to transfer money into a NZ bank account…has to be a bank account
International bank transfer costs a bomb with the transfer fees and exchange rate
Thanks!
Can't you send less frequently but in larger amounts?