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 | 3 
4081 posts

Uber Geek
+1 received by user: 1371


  Reply # 948178 9-Dec-2013 15:59
Send private message

1080p: What are the fees for just walking into a Western Union and handing them the cash? I thought it would be ~$25 or so, wouldn't it?


There are several components to the costs though -- the transaction 'fee', and the fx margin.Maybe WU offers horrible fx rates!!

Personally, I've found credit cards to be a reasonable method to get an OK fx rate for purchases. 

But, if when CC is not possible, I have a fx account with ASB -- i receive the funds in the same currency as the foreign exchange and call the bank dealing room for the best deal to convert into NZD.   The banks advertised rates are always much worse and I always get a much better deal by calling the dealing room. 

For sending funds overseas, I don't see why you couldn't call the dealing room direct anyway. 




3741 posts

Uber Geek
+1 received by user: 1128


  Reply # 948213 9-Dec-2013 16:45
Send private message

networkn: Interested to know where I might get an idea if the NZ/USD will get to 84-85c by the end of December, how does one get a feel for the likelihood of such a thing?


Buy a Dartbboard and some darts and rent a monkey.

but in all seriousness FX rates are pretty much a crapshot and what makes things go up and down are pretty unpredictable, 

 
 
 
 


5107 posts

Uber Geek
+1 received by user: 1421

Trusted
Microsoft

  Reply # 948220 9-Dec-2013 16:58
Send private message

networkn: Interested to know where I might get an idea if the NZ/USD will get to 84-85c by the end of December, how does one get a feel for the likelihood of such a thing?


I doubt that will happen in the next 3 weeks, by end of December

I'd almost bet on it

Next year I'm banking on a lower NZD/USD FX rate

mdf

2190 posts

Uber Geek
+1 received by user: 671

Trusted
Subscriber

  Reply # 948242 9-Dec-2013 17:58
Send private message

All the major banks and the more reputable FX dealers will open a foreign currency account (FCA). This is essentially a New Zealand account denominated in an overseas currency. This means you can make foreign transfers without incurring the exchange fees (though obviously you may still incur those when you deposit money in and out).

If you are making frequent foreign currency payments, the banks and FX dealers offer a range of more sophisticated products (forwards, swaps and options, primarily) that let you lock in an exchange rate now, lessening the risk of being hit by FX fluctuations later. A forward is basically an agreement that you will exchange $X NZD for $Y USD at Z rate. If the exchange rate moves against you in the meantime, you won't pay any more (on the flip side, if it moves in your favour, you won't pay any less either). An option is kind of like insurance that the rate won't move beyond a certain amount, though you will pay for the privilege. Swaps are really complex. One of these might be right for you. If it's a reputable NZ dealer, they will give you something called a "Risk Disclosure Statement" or similar, outlining the pros and cons of the various products.

If you are asking for advice (e.g. will the rate go up or down), this is financial advice and they will be obliged to give you more disclosure statements. In all likelihood, they are more likely to say "I can't provide financial advice to you" though.

It's really hard to open an account with a US bank. There's lot's of regulation about money laundering and funding terrorism that more or less makes it impossible.

5 posts

Wannabe Geek
+1 received by user: 2


  Reply # 948251 9-Dec-2013 18:18
Send private message

Mine some Bit Coins. No transaction or any other fees.

1 | 2 | 3 
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 tech item prices are listed in our price comparison site:





News »

Orcon announces new always-on internet service for Small Business
Posted 18-Apr-2019 10:19


Spark Sport prices for Rugby World Cup 2019 announced
Posted 16-Apr-2019 07:58


2degrees launches new unlimited mobile plan
Posted 15-Apr-2019 09:35


Redgate brings together major industry speakers for SQL in the City Summits
Posted 13-Apr-2019 12:35


Exported honey authenticated on Blockchain
Posted 10-Apr-2019 21:19


HPE and Nutanix partner to deliver hybrid cloud as a service
Posted 10-Apr-2019 21:12


Southern Cross and ASN sign contract for Southern Cross NEXT
Posted 10-Apr-2019 21:09


Data security top New Zealand consumer priority when choosing a bank
Posted 10-Apr-2019 21:07


Samsung announces first 8K screens to hit New Zealand
Posted 10-Apr-2019 21:03


New cyber-protection and insurance product for businesses launched in APAC
Posted 10-Apr-2019 20:59


Kiwis ensure streaming is never interrupted by opting for uncapped broadband plans
Posted 7-Apr-2019 09:05


DHL Express introduces new MyDHL+ online portal to make shipping easier
Posted 7-Apr-2019 08:51


RackWare hybrid cloud platform removes barriers to enterprise cloud adoption
Posted 7-Apr-2019 08:50


Top partner named at MYOB High Achievers Awards
Posted 7-Apr-2019 08:48


Great ideas start in Gisborne with hackathon event back for another round
Posted 7-Apr-2019 08:42



Geekzone Live »

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


Support Geekzone »

Our community of supporters help make Geekzone possible. Click the button below to join them.

Support Geezone on PressPatron



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.