ANZ's Online Code

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Forums › Finance and wealth management › ANZ's Online Code

coolcat21

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#160360 3-Jan-2015 23:27

Hey guys, I was just wondering if anyone here has had any experience dealing with ANZ from overseas particulary from Canada ?

I'll be moving to canada soon and am looking at doing an IMT (international money transfer) once i'm over there from my current online account to a canadian bank.

I know different banks have their own security system and ANZ's is the online code they send to their phone.

I'll be bringing my vodafone number with me but since I don't know how well roaming will work over there or say I lose my phone somewhere, I'm not sure how I'm going to receive the online code.

I've asked the teller and he told me that eventhough they've approved my 'online code exemption' for the period of weeks I've requested, it won't matter because all IMT transactions will require an online code and then after the 'online code exemption' period ends, the system will send me a code just to login to internet banking itself if I'm outside of NZ.

I asked the guy if there's any other way, he said nope, that's how anz's system works. If you lose your vodafone number overseas and your account is tied to that number, good luck (in a more professional way he said it of course)

I also have an asb account that i barely use, so i'm thinking of transferring all my anz stuff over, are they easier ? Or should I open a new westpac account ?

**** this 'verify through mobile number' bullcrap tbh.

Geektastic

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#1207888 3-Jan-2015 23:37

I send and receive money internationally all the time - no need for any codes, phones etc etc.

As long as you have the SWIFT code for your Canadian account it should not be any harder than sending it from one NZ account to another, it'll just cost more. I can do international transfers from within ASB's internet banking just like any other transaction.

Perhaps you can work around it? Do you have parents here that you could give the money to before you leave, then just have them make the transfer?

My brother works in a Canadian bank in Toronto if you are headed there.

coolcat21

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#1207890 3-Jan-2015 23:57

Geektastic: I send and receive money internationally all the time - no need for any codes, phones etc etc.

As long as you have the SWIFT code for your Canadian account it should not be any harder than sending it from one NZ account to another, it'll just cost more. I can do international transfers from within ASB's internet banking just like any other transaction.

Perhaps you can work around it? Do you have parents here that you could give the money to before you leave, then just have them make the transfer?

My brother works in a Canadian bank in Toronto if you are headed there.

Yeah see with ASB it's easier they don't ask for that.

But with ANZ it's mandatory. To do an IMT especially outside of NZ from your NZ bank account, the online code is mandatory.

And then when you're trying to login to the internet banking itself (to just check your balance for example) , if they detect that your IP address is outside of NZ then you'll be sent an online code before you can login.

They guy also said that some people have tried changing the cellphone number that anz account is attached to to their new overseas number, but they couldn't receive the text at all and thus were unable to do a transfer.

I "can" give it to my parents, but they don't deal with the bank alot and gets frustrated/angry fast at the teller etc. So I'd want to avoid that mess as much as possible. I'm a pretty patient guy, i'm not frustrated with this at all (eventhough it seems like I am) , because I know those security system is there for a reason.

I'm going to Calgary though, and I'll pretty much be based there. What bank does your brother work it ? Can you ask him if they've got a branch in Calgary and maybe then I can talk to him and i'll at least have a kiwi banker there that can help me ?

The amount i'm transferring isn't small but it's not big either. It's less than $50K, but not too much less.

richms

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#1207916 4-Jan-2015 07:11

The dependance on SMS to a single number is a real pain with all the banks in NZ. They are basically passing the hassle to you to maintain a number that they can text you on, and eensure that number is on an active sim in a device with battery and in coverage just to use their services.

Last I asked, ASB would give you a token thing to get codes from, but there was a monthly charge for this so I told them no thanks, not paying them to sort out their security.

Worst case if it wants me to do the code hassle thing and I dont have that sim with me or in a device I just call them and waste their call centers time to sort things out. Its a pain but they force you do to it.

Richard rich.ms

Geektastic

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#1208051 4-Jan-2015 16:25

Why not ask your NZ bank to issue a Bank Draft in CAD for the amount, in your name? Take it with you and pay it in when you get there. Or take it as Travellers Cheques? Or load it onto a one-shot travel money Visa Debit and take it out in Canadian ATM's?

coolcat21

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#1208122 4-Jan-2015 19:01

Geektastic: Why not ask your NZ bank to issue a Bank Draft in CAD for the amount, in your name? Take it with you and pay it in when you get there. Or take it as Travellers Cheques? Or load it onto a one-shot travel money Visa Debit and take it out in Canadian ATM's?

According to the link below, for a bank draft, you have to have the recipient's bank account number. ...I don't currently have a canadian bank account.

https://www.anz.co.nz/resources/7/a/7ae8c5804d8ce982bf9cbf32c55cda98/International-Bank-Draft-application.pdf?MOD=AJPERES

As with a one-shot visa debit, I risk of losing tens of thousands of dollars if I lose the card , but then again, it'll be as risky withdrawing that much money just from an ATM

kiwigander

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#1208141 4-Jan-2015 20:27

Coolcat, a few things to consider:

1) If you can contact Geektastic's bro in TO, see whether that bank will open an account for you while you're still in NZ. Canadian banks are much like Australian - mostly very large firms with national scope - so just about any bank in Toronto should have branches in Calgary.

2) If that bank can't help, perhaps another will? The big Canadian banks are the Royal (www.rbcroyalbank.com), the Commerce (www.cibc.com), the Bank of Montreal (www.bmo.com), the Toronto-Dominion (www.td.com) and Scotiabank (www.scotiabank.com). HSBC have a Canadian presence, so if you're near HSBC's New Zealand branch, they might be the way to go.

3) If you're on Vodafone here I imagine you'll roam on Rogers in Canada. The other big cellphone providers are CDMA outfits. I would not want to rely on receiving a text in good time from NZ to Canada.

4) If you can't open a Canadian account from here can your employer do so? It'd be less worry making the big transfer before you board the plane (preferably a few days before so you can verify that the money has arrived).

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Mahjong

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#1208250 5-Jan-2015 01:18

coolcat21:
Geektastic: Why not ask your NZ bank to issue a Bank Draft in CAD for the amount, in your name? Take it with you and pay it in when you get there. Or take it as Travellers Cheques? Or load it onto a one-shot travel money Visa Debit and take it out in Canadian ATM's?

According to the link below, for a bank draft, you have to have the recipient's bank account number. ...I don't currently have a canadian bank account.

https://www.anz.co.nz/resources/7/a/7ae8c5804d8ce982bf9cbf32c55cda98/International-Bank-Draft-application.pdf?MOD=AJPERES

As with a one-shot visa debit, I risk of losing tens of thousands of dollars if I lose the card , but then again, it'll be as risky withdrawing that much money just from an ATM

coolcat21, the recipient's bank account number is NOT required to purchase a bank draft from ANZ, so you do not need to have an existing Canadian bank account when you apply for the bank draft. On the ANZ bank draft application, only the applicant's bank account details are required to debit the remittance amount and charges. In the "Overseas Payment Details" section, you do have to specify the name of the drawee bank which in your case would be ANZ's correspondent bank (agent bank) in Calgary. The ANZ teller should be able to advise you which Canadian bank is their correspondent bank. It is not mandatory that you open an account with that particular drawee bank but if you do, it will expedite the clearance of the bank draft, possibly immediate or same day clearance. If you open an account with another bank in Canada, the bank draft will be cleared through normal local bank clearing process.

It would be advisable to keep a photocopy of the bank draft and the application form separately in case you accidentally lose the bank draft, as you will then need the bank draft application and transaction details to report the loss, request a cancellation and refund.