Hi all,
Can someone tell me the cheapest way to transfer $2300 NZD from Australia? I used commonwelath bank app overseas transfer last time but the aud/nzd conversion rate was really expensive and the for some reason the bank ANZ bank account in NZ received $25 less.
Would appreciate any advice.
These guys have been my fav. I transfer to the US, and they have always had the best spot on the day. Margin is really small for them.
And free if you do over certain amounts or once a month.
It’s just like a bpay payment for any bill. Once you complete it, you get a boat reference to pay the AUD. Simple.
Banks will always give terrible rates; compare the rates between transferwise and currencyfair
Tansferwise
Have you used Transferwise yourself? Can you please tell me once you book in the transaction, do you just transfer the money to a local bank account? How does it work if the currency is foreign currency converting to AUD? Do they give you a foreign bank account to transfer the foreign currency into?
Yes, I have used Transferwise to send money to NZ. Once you complete your transaction in Transferwise, you will be given a local bank account details. You then need to login to your Internet banking and make your transfer to that local account in AUD.
After this step, Transferwise will send money to your account in NZ in NZD. In most cases, your money would reach your NZ account within 2/3 hours. Feel free to PM me if you are still not sure.
What about the reverse? Have you tried doing the reverse? Where you want to convert foreign currency to AUD? Say trying to convert NZD to AUD and receive it in my local Australian bank account.
@geek001: I haven't tried that but I assume it would be the same process provided you have an NZ account. I don't see it being different.
https://www.ozbargain.com.au/deals/currencyfair.com
https://www.ozbargain.com.au/deals/ofx.com
https://www.ozbargain.com.au/deals/transferwise.com
Have used the first two and all went well. Have not yet tried the third but gets mentioned often.
They are all very similar, so I'd just check which has the best rate for AU to NZ at the moment and go with that one.
Can you use PayPal?
Ripple
ETH
Currencyfair
I believe the owners of this great site use OFX so as they say, if it’s good for them…
OrbitRemit are very good. Good rates, low fees.
ofx.com