Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.

View this topic in a long page with up to 500 replies per page Create new topic
1 | 2 
756 posts

Ultimate Geek
+1 received by user: 17


  Reply # 675639 22-Aug-2012 20:40 Send private message

what is the usual amount you transfer using currencyonline.com?

437 posts

Ultimate Geek
+1 received by user: 9
Inactive user


  Reply # 675820 23-Aug-2012 09:42 Send private message

I use Orb Remit to transfer money into my Aussie account all the time. The first transfer is free and it's NZ $12  after that

http://www.orbitremit.com/nz/

Awesome
3703 posts

Uber Geek
+1 received by user: 311

Trusted
Subscriber

  Reply # 675862 23-Aug-2012 11:39 Send private message

khull: what is the usual amount you transfer using currencyonline.com?


I've done numerous transactions, usually between about $1000 and $5000 each.

Mostly for sending money home to NZ from OZ to pay money onto my NZ credit card (which I owed a bit on when I left NZ) and my student loan.




Twitter: ajobbins



2732 posts

Uber Geek
+1 received by user: 180

Trusted
Subscriber

  Reply # 676202 24-Aug-2012 04:27 Send private message

Thanks everyone.

I found ANZ offers the best solution. International money tx is so easy just like local interbank tx. It is fast too...





2250 posts

Uber Geek
+1 received by user: 160

Trusted
Subscriber

  Reply # 676245 24-Aug-2012 08:55 Send private message

Except the recipient gets charged a sometimes pretty hefty fee to receive it. You can avoid that if you use a solution like American Express Fx International Payments which is pretty fast (~2 business days) and gets deposited in the other side's currency to their bank just like a normal deposit (no fees to receive). Sending costs like $10.

62 posts

Master Geek
+1 received by user: 2


  Reply # 676583 24-Aug-2012 20:50 Send private message

@ ajobbins and any others -

I'm interested in using Currency Online or XE Trade or whatever as a transfer system to replace international wires, for payments from overseas business partners. Is this an appropriate sort of use for these services, as they seem to focus more on personal use?

How does the transfer process actually work from the perspective of the payer (depositor) - do you get a set of details to give out, which remain constant, which instruct the payer to make a local bank deposit with specific info which results in whatever $ being transferred into your account? Or do you need to set up each individual transfer? The depositor has no need of an account with CO or whomever? Or?

589 posts

Ultimate Geek
+1 received by user: 55

Trusted

  Reply # 676584 24-Aug-2012 20:58 Send private message

Tranzfers works by paying NZ$ into a local account here and you nominate the overseas account to pay money into directly.
Pretty seamless once you set up the compliance and have the receivers bank details.

2250 posts

Uber Geek
+1 received by user: 160

Trusted
Subscriber

  Reply # 676783 25-Aug-2012 12:45 Send private message

BadBadBadMonkey: @ ajobbins and any others -

I'm interested in using Currency Online or XE Trade or whatever as a transfer system to replace international wires, for payments from overseas business partners. Is this an appropriate sort of use for these services, as they seem to focus more on personal use?

How does the transfer process actually work from the perspective of the payer (depositor) - do you get a set of details to give out, which remain constant, which instruct the payer to make a local bank deposit with specific info which results in whatever $ being transferred into your account? Or do you need to set up each individual transfer? The depositor has no need of an account with CO or whomever? Or?


All systems require the payer to have an account - this is because it's the person sending money who has to go through the legal compliance/"know your customer" rigmarole enforced by pretty much every government.  If you're looking for a system where you the recipient sign up and anyone can send money to it, that's called a bank account, and bank wires are your only answer.

Awesome
3703 posts

Uber Geek
+1 received by user: 311

Trusted
Subscriber

  Reply # 676904 25-Aug-2012 17:59 Send private message

BadBadBadMonkey: @ ajobbins and any others -

I'm interested in using Currency Online or XE Trade or whatever as a transfer system to replace international wires, for payments from overseas business partners. Is this an appropriate sort of use for these services, as they seem to focus more on personal use?

How does the transfer process actually work from the perspective of the payer (depositor) - do you get a set of details to give out, which remain constant, which instruct the payer to make a local bank deposit with specific info which results in whatever $ being transferred into your account? Or do you need to set up each individual transfer? The depositor has no need of an account with CO or whomever? Or?


You enter a contract, to sell $x of currency 1 and receive $x of currency 2 for it. The rate and amount is agreed at that point and you are then under contract to pay it. They give you a bank account and a reference to make a deposit in the country you are sending money from (Eg. In NZ they give you a BNZ account, in Oz it's a NAB account.

For business transactions, it's probably easier to use PayPal.




Twitter: ajobbins

756 posts

Ultimate Geek
+1 received by user: 17


  Reply # 685130 12-Sep-2012 17:56 Send private message

ajobbins:
BadBadBadMonkey: @ ajobbins and any others -

I'm interested in using Currency Online or XE Trade or whatever as a transfer system to replace international wires, for payments from overseas business partners. Is this an appropriate sort of use for these services, as they seem to focus more on personal use?

How does the transfer process actually work from the perspective of the payer (depositor) - do you get a set of details to give out, which remain constant, which instruct the payer to make a local bank deposit with specific info which results in whatever $ being transferred into your account? Or do you need to set up each individual transfer? The depositor has no need of an account with CO or whomever? Or?


You enter a contract, to sell $x of currency 1 and receive $x of currency 2 for it. The rate and amount is agreed at that point and you are then under contract to pay it. They give you a bank account and a reference to make a deposit in the country you are sending money from (Eg. In NZ they give you a BNZ account, in Oz it's a NAB account.

For business transactions, it's probably easier to use PayPal.


What is the "bank code" for in currencyonline? I have a SWIFT number, ABA routing number and a branch number

Awesome
3703 posts

Uber Geek
+1 received by user: 311

Trusted
Subscriber

  Reply # 685137 12-Sep-2012 18:19 Send private message

khull: What is the "bank code" for in currencyonline? I have a SWIFT number, ABA routing number and a branch number


Not sure what you mean? SWIFT code for what country/account? They have a local account in each country




Twitter: ajobbins

756 posts

Ultimate Geek
+1 received by user: 17


  Reply # 685217 12-Sep-2012 22:05 Send private message

ajobbins:
khull: What is the "bank code" for in currencyonline? I have a SWIFT number, ABA routing number and a branch number


Not sure what you mean? SWIFT code for what country/account? They have a local account in each country


When you add a beneficiary there is a field called "bank code". Not sure what to put there

Awesome
3703 posts

Uber Geek
+1 received by user: 311

Trusted
Subscriber

  Reply # 685228 12-Sep-2012 22:10 Send private message

Oh, put the SWIFT code for the bank the account you are adding.

Eg, I have an ASB account as a NZD beneficiary. So I put ASB's SWIFT code (Get it from their website)




Twitter: ajobbins

1 | 2 
View this topic in a long page with up to 500 replies per page Create new topic








Twitter »
Follow us to receive Twitter updates when new discussions are posted in our forums:



Follow us to receive Twitter updates when news items and blogs are posted in our frontpage:



Follow us to receive Twitter updates when new jobs are posted to our jobs board:



Follow us to receive Twitter updates when tech item prices are listed in our price comparison site:




News »

Trending now »
Hot discussions in our forums right now:

Telecom introduces unlimited broadband data plan
Created by freitasm, last reply by khull on 23-Apr-2014 21:12 (76 replies)
Pages... 4 5 6


Stonedine
Created by Lizard1977, last reply by gzt on 23-Apr-2014 17:31 (57 replies)
Pages... 2 3 4


Telecom has started metering their TiVo customers' broadband usage (WITHOUT PRENOTIFICATION)
Created by Peteriv, last reply by mxpress on 23-Apr-2014 14:22 (69 replies)
Pages... 3 4 5


Forms of government for New Zealand
Created by charsleysa, last reply by KiwiNZ on 23-Apr-2014 20:57 (169 replies)
Pages... 10 11 12


Parallel imported product
Created by Wills1, last reply by joker97 on 23-Apr-2014 21:01 (53 replies)
Pages... 2 3 4


Labour MP Shane Jones to step down
Created by jeffnz, last reply by jeffnz on 23-Apr-2014 20:41 (32 replies)
Pages... 2 3


Upcoming Freeview Restack AUCKLAND
Created by Brunzy, last reply by richms on 23-Apr-2014 21:05 (13 replies)

Paywave unauthorised transaction
Created by Ford, last reply by Jase2985 on 23-Apr-2014 17:13 (69 replies)
Pages... 3 4 5



Geekzone Live »
Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.

Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.

Alternatively, you can receive a daily email with Geekzone updates.