I work for myself from home doing affiliate marketing meaning that my income spread across various bank accounts etc. The bulk of my money goes into my UK HSBC account since I can't transfer it directly into a NZ account.
I also have a PayPal account linked into this bank account.
The problem is when I need to transfer the money from UK to NZ I'm losing quite a bit of money due to transfer fees, currency conversions etc. Last transfer I had to pay $500 just to get my money.
I'm currently in the process of joining Kiwibank so I can hook another PayPal account into my NZ bank so I don't have to lose money on the international transfer.
But since the bulk of my money comes from my HSBC account I'm trying to figure out a cheaper way to get it into my NZ account.
I'm currently looking into Bitcoins as an option, does anyone know of a bank that would allow me to transfer Bitcoins into my account?
Has anyone tried converting money into Bitcoins from a foreign bank into a NZ bank? Did it work out cheaper?