online banking - bank with international tx

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Forums › Finance and wealth management › online banking - bank with international tx

nakedmolerat

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#107900 22-Aug-2012 00:22

anyone knows banks that will let you do international money transfer through internet banking/online?

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#675295 22-Aug-2012 01:35

BNZ will let you during business hours, out of hours you can send them a secure email and they'll do it the next day. Was pretty fast too - for my last transfer the money was in my Australian account in about 30 min (helped by the fact that BNZ is owned by NAB perhaps).

sbiddle

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#675298 22-Aug-2012 06:11

ANZ

johnr

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#675313 22-Aug-2012 07:29

Most banks

Kyanar

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#675317 22-Aug-2012 08:06

Westpac will NOT let you do a SWIFT payment from online banking. Nor will ASB.

timmmay

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#675376 22-Aug-2012 10:39

ASB lets you do international transfers, I've done then to Australia and the UK in the past month.

Tabuti

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#675412 22-Aug-2012 11:29

Kiwibank let you do it. You upload a template which is checked to ensure the details are correct. Once loaded as a template you can do the transfer any time you wish & it is saved for future use.

tcpdump

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#675463 22-Aug-2012 13:11

timmmay: ASB lets you do international transfers, I've done then to Australia and the UK in the past month.

I can also confirm that you can make SWIFT payments from ASB via online banking.
Of course, you need to be registered for netcode.

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Kyanar

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#675464 22-Aug-2012 13:13

tcpdump:
timmmay: ASB lets you do international transfers, I've done then to Australia and the UK in the past month.

I can also confirm that you can make SWIFT payments from ASB via online banking.
Of course, you need to be registered for netcode.

Ah, maybe that's why I don't see it (or possibly my account type doesn't support it).

tcpdump

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#675465 22-Aug-2012 13:16

Kyanar:
Ah, maybe that's why I don't see it (or possibly my account type doesn't support it).

It's under Accounts -> Foreign Exchange -> International Transfers.

ajobbins

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#675469 22-Aug-2012 13:19

Doing it this way is hugely expensive. The bank will likely charge you fees at both ends, and their exchange rates aren't that good.

I use currencyonline.com

They have local accounts in a bunch of countries.

If I am sending NZ->AU I pay into their BNZ account, once receipted they pay it into my CommBank account in Oz.

If sending Oz->NZ I pay into their NAB account and once receipted they pay into my NZ account.

Exchange rates are better than the banks and fees are NZ$8 for NZ->AU and AU$12 for AU->NZ.

Usually takes up to 48 hours (Overnight for first transfer to appear in their account, then overnight again for them to xfer to me).

Tho now NZ banks are doing same day xfers, I've had money AU to NZ in under 24 hours.

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timmmay

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#675470 22-Aug-2012 13:23

I have some USD in a kiwibank USD account that I want to turn into NZD, enough that a 1% difference in rate makes a small but useful difference. What's the best way of getting in turned into NZD? The only way I know is transferring it to my KiwiBank NZD account, with whatever fees and exchange rate they feel like using.

For example the National Bank has a current USD rate of about 80c, same with xe.com. Kiwibank is currently at 85c, meaning I lose 5% in the conversion. Maybe that's just the difference between the buy and the sell rate, but still, it seems high.

Tabuti

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#675478 22-Aug-2012 13:46

timmmay: I have some USD in a kiwibank USD account that I want to turn into NZD, enough that a 1% difference in rate makes a small but useful difference. What's the best way of getting in turned into NZD? The only way I know is transferring it to my KiwiBank NZD account, with whatever fees and exchange rate they feel like using.

For example the National Bank has a current USD rate of about 80c, same with xe.com. Kiwibank is currently at 85c, meaning I lose 5% in the conversion. Maybe that's just the difference between the buy and the sell rate, but still, it seems high.

You could give the Kiwibank International team a call on 0800 222 490 & see if they can do a better rate for you.

Also regarding Fee's etc Kiwibank can also offer Direct Credits into Australian Bank accounts so it by passes a step or two.

Sending money from an Oz bank can sometime end up with the Oz bank sending to their NZ equiv who charge & then send it to the correct NZ Bank account

timmmay

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#675479 22-Aug-2012 13:51

I could, but I don't like to beg for them to match other companies, I just use the other company.

Currency Online and XE.com would probably both be better than kiwibank, and would probably both work. I've emailed CO to see what they say.

Shame I'm needing to do it now at 81c, rather than back when it was 50, 60, or even 70c. I was going to wait until the rate got better but it could be 5-10 years before the rate gets down to 60c again.

knoydart

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#675498 22-Aug-2012 14:39

Like other posters, I used web based transfers. My website of choice is tranzfers.com You pay tour NZ$ into a westpac via internext banking in the usual way and the money appears in your local currency account fairly sharpish. NZ-UK now can come in at under 24 hours if you get the right point in the day of the bank transfer system. You can either leave the exchange rate picking with them or hold the money untill the exchange rate is at your prefered rate.

blakamin

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#675634 22-Aug-2012 20:30

I use PayPal between aus and NZ

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