Transferring money to New Zealand

What is the best / cheapest way to get GBP across to New Zealand as there local currency?

Small amounts such as birthday gifts to kids etc <£100

Paypal gift?

(seriously)

Fee for GBP to NZD on £100 transfer is $0.50

Paypal was one of my thoughts but how do they get the money out. The kid is 10 and wants to walk into the sports shop with dollars in his hand

Can’t you tell mum and dad to stick $100 in a card from you and then give them the same amount by paypal?

If you get stuck you can PayPal it to me and I will transfer 100 to their account for you.

We don’t actually use money here, certainly not a currency that has value outside our small islands….

If you get stuck you can PayPal it to me and I will transfer 100 to their account for you.

NZCol – thanks for the offer but we can get the money over there by using HSBC cash transfer. It isn’t an emergency.

What we were wondering was if anyone on here does similar on a regular basis and has worked out the cheapest, most reliable way to do it.

We don’t actually use money here, certainly not a currency that has value outside our small islands….

makes decent tyre repair patches though.

IME Moneycorp is consistently cheaper for USD – Sterling (and back) currency transfers. Much better than the banks.

MoneyCorp is a lot of hassle for such small, one off payments though surely? Also, just noticed transfer fees start at £5, so hugely expensive for a <£100 transfer!

I think we usually come to some agreement where Anne-Marie’s sister (who’s in Oz) will give an amount in AUS$ to her children, and Anne-Marie (here) will give a roughly equivalent amount tour two (in GBP£).

buy them some bitcoins?

I use currencyfair.com – peer to peer exchange so you get the mid-market rate, eg, exactly the same as exchanging the other way. They take 0.3% for providing the forum. You deposit the funds in your account with them using a normal free bank transfer, then they charge £3 for you to transfer it into the foreign account. No other charges. I’ve used it 3 times for ski apartments in Europe, my BiL now living in Canada uses it regularly to transfer his UK pension.

Most NZ banks will accept UK bank cheques which take 21 working days to clear. Some banks charge a nominal $0.50 fee some like mine ASB charge nothing you just have to wait the 21 days. My relatives often send money gifts for my kids this way.

Go to post office, buy a couple of hundred quid in NZD, send it periodically by mail?

I’ve used HiFx for large transfers (car, house deposits) transferred from UK savings to NZ bank account with no hassles and you get decent rates.

My mam just gets NZD out of the UK post office and sticks in my Christmas/Birthday cards for small amounts.

Currencyfair here too. Good rates and almost same day service.

We used any of the transfer companies but you need to shop around a bit depending on the amount. These days we still have a UK account for the house over there so we just get people to pay into that in £ which saves us transferring money back over.
After that PP is good for small amounts.

I used Tranferwise recently after baulking at NatWest’s £25 fee to send £170 to Norway.

Quite clever peer-to-peer transfer matching. You put your destination bank deets in, say how much you want to tranfer, give it a range +/-% of today’s exchange rate, pay a deposit which is today’s ROE + deposit to take you to your upper boundary, you get an email later that day or a day or sao later saykng they’ve matched yours with “Tom” transferring the other way, this was the ROE, and the relevant sum from your deposit back onto the card you paid with.

My Mother wanted to send us over the equivalent sterling to NZ$400 for Xmas. I opened a paypal account, which took about 5 minutes, and added my bank account. She then transferred the money and the next day I received it and transferred it to my bank account, which is where I am assuming it is now. Dead easy.

Hope this helps.