I need to send money to pay some bills in Australia every month from my NZ Bank account and realised I was getting shafted $18NZD from ANZ and $25AUD from my Australian bank (with a poor exchange rate)
Whats the cheapest way to send money?
Western Union charges $10, but seeking something cheaper still with better exchange rate.
What fees do NZ forex charge per transaction? Keen on a $50 itunes card!!!
I'm not too concerned about credit card payments at the moment (although would prefer something that has 0% international fee). Mainly need cash to pay my mortgage.
It's $15 per transfer under $10,000, and you can get a spot quote on their website, to compare with WU or your bank. Obviously there are no fees at either side either, so it depends if the rate is good enough to better the $5 difference with WU, which I'd imagine it would be.
I have been watching credit cards in nz, and I recall the Warehouse card has the lowest international fees at around 1.5%, but has quite a high yearly fee.
I used to use the Citibank debit card from Australia for 0% transaction fee for international purchases and international ATM withdrawals. Unfortunately there is no Citibank in NZ:(
Yea, I was the same, I still have my card somewhere.
Citi do offer some lending services in NZ, but not what we are after.
I've used NZ forex in the past, and their rates are pretty competitive. If you want to join, I'll pm you a referral link and both get a $50 ITunes card.
The other option could be to use a credit card, my $0 fee Amex costs 2.5% for international purchases/payments, which could be better depending on the amount transfered.