Hi,
Not sure if this is the right place but I was wondering if anyone had any experience with or might know the best way to go about transferring money overseas. More specifically I have with me Aussie dollars in cash, in New Zealand. I want to get it to Australia. Is there any way to get it there (without personally flying over) without having to convert it to NZD and then back to AUD? I have an Australian bank account which I would prefer it to go into. Any help or suggestions much appreciated.
Currency transfer
LJoshyss on 19/03/2019 - 18:17
Comments
Thanks upbeat, I gave them a call earlier but they told me I have to use NZD to send.
transferwise
ofxAnother option for transferring money overseas is by using a foreign cheque - also known as an international bank draft.
https://www.asb.co.nz/foreign-exchange/sending-money-oversea…or pls post a Q in ozbargain
I did call OFX and they said to use their service there must be at least one currency exchange. I’ll have a look into transferwire and the bank draft. Thank you
I think you'll find that you can't transfer cash (short of physically posting it, which isn't actually legal, despite many people doing it). Any business in New Zealand will have to work in NZ$, so it will have to be converted to that first.
There is a way to send foreign currency overseas if you open a foreign currency account with your bank. Unfortunately since you have cash, they usually charge about 1% to convert cash to digits to put into the account. Then the charge to send foreign currency is about $5 per transaction. I'm not sure if this is the best method but at least its cheaper than converting then reconverting and safer than sending cash in the mail. Good luck.
Senior mouse has expertise in all sorts of stuff ;)
Thanks senior mouse. I will ask the bank about that tomorrow. That would definitely be a better way if that is what they charge and are able to do that!
try western union