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Ultimate Geek
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Topic # 160082 22-Dec-2014 20:54
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Hey guys, any pointers on how/where to get a good rate to convert USD to nzd?

Went through a couple of bank websites and they seem to have lousy rate/high service fees.


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Uber Geek
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  Reply # 1202326 22-Dec-2014 20:55
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What is the amount you are after to transfer?



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Ultimate Geek
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  Reply # 1202339 22-Dec-2014 21:20
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Got them in cash, less than 5000 USD.

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  Reply # 1202341 22-Dec-2014 21:36
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Bank probably. If you can get it into a USD account (kiwibank) then you can use https://www.currencyonline.com/ - they were recommended to me here on GZ a couple of years ago, I moved that sort of money over here to NZ with no problems, got a better deal than the banks.




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  Reply # 1202348 22-Dec-2014 21:50
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banks are average, but here is a list of their rates

$5000 is nothing in the scheme of things so don't expect a massive discount

http://www.interest.co.nz/Calculators/buying-foreign-currency



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Ultimate Geek
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  Reply # 1202350 22-Dec-2014 21:56
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nathan: banks are average, but here is a list of their rates

$5000 is nothing in the scheme of things so don't expect a massive discount

http://www.interest.co.nz/Calculators/buying-foreign-currency


Thanks.

Hmm I guess bank is the only way to go ..

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Ultimate Geek
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  Reply # 1202353 22-Dec-2014 22:02
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If you have a premium credit card, i.e. Platinum or higher, then your bank may not charge you a service fee.

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  Reply # 1202371 22-Dec-2014 23:08
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There are a few "hole in the walls" around Auckland. Chinese small operators that will be worth checking out.

Haven't got one off the top of my head though.

Cheers Matt.




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Ultimate Geek
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  Reply # 1202374 22-Dec-2014 23:36
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hairy1: There are a few "hole in the walls" around Auckland. Chinese small operators that will be worth checking out.

Haven't got one off the top of my head though.

Cheers Matt.


And how do one find out more about these "hole in the walls" you speak of? Sounds kinda shady

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Wannabe Geek
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  Reply # 1202418 23-Dec-2014 08:02
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https://www.currencyfair.com
Gives good rates and cuts out the bank fees.
Also you can setup auto trades. So you can say I want it at this rate and it will auto trade. When the rate is available.

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Ultimate Geek
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  Reply # 1202659 23-Dec-2014 14:23
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Find someone who needs US dollars and do a deal with them. Cut out fees and you both get a better rate than the bank is offering.

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Master Geek
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  Reply # 1202712 23-Dec-2014 15:22
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ech3lon:
hairy1: There are a few "hole in the walls" around Auckland. Chinese small operators that will be worth checking out.

Haven't got one off the top of my head though.

Cheers Matt.


And how do one find out more about these "hole in the walls" you speak of? Sounds kinda shady


I have only ever bought not sold foreign currency but have found the best one is in Queen st near PB Tech - "e-trans" I think its called - they do have a website but it doesnt seem to work in english! Pretty sure there's no commission and everytime i've checked their rates have been the best (haven't needed to change cash for a couple of years though).



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Ultimate Geek
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  Reply # 1202777 23-Dec-2014 17:03
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Well, just to update I ended up trading the cash in one of thosel forex stall in the mall, i think it was called it was called "lotus" or something.

After doing a bit of research banks probably offers the worst rates and should be the last option unless its only for a small amount where its not worth the effort.

Thanks for all who replies.

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