I'm Australian and have sold 2 ebikes I purchased and was using in NZ. I had setup a Wise NZ account thinking it would be the perfect way to receive the $3500 I received for the ebikes. However I didn't realise at the time that Wise takes 1-2 business days for amount to show up. I've had to opt for NZD cash as I fly home Monday so there are limited options I can think of -
1. Bring the NZD back (you can fly with up to $10k) and take to a bank in Australia (I gather the bank will take about 3% hidden in their exchange rate, plus some fee on top),
2. Load a TravelEX card at the airport (they have a promo which is NZ $100 which mitigates the 1% loading fee, however there is still the poor exchange rate they offer which has 2.9% margin)
3. Convert direct to Euro (TravelEX or otherwise) as I'll be travelling there in April.
4. Any other ideas to minimise Forex losses?
Forex Dilemma NZD to AUD or EUR
affable on 09/12/2023 - 06:38
Last edited 09/12/2023 - 11:54
Last edited 09/12/2023 - 11:54
Comments
Interesting idea. I'm not sure I could pick something of no significant weight that will guarantee the same value in Australia, are you thinking jewellery or something?
I did consider buying iTunes cards etc, however I don't think they would work out any better than TravelEX?Really? NZ GST is 15%…. buy an iPhone pro max duty free and sell it new in box for a small discount on the AU
suckerssticker price. Some fruit fanboi will happily take it off your hands,Ah ok.
Option 5. Spend the money in NZ. If you must, buy something easily resealable at cost when you arrive. If you're morally flexible buy it duty free and forget to declare it one the way in.