Transferring savings to NZ?

Question

I am planning on emigrating to NZ next year. What is the cheapest and easiest way to transfer quite substantial savings to an account over there. Obviously may lose out depending on the exchange rate at the time. Can I open a bank account in the UK before going over or do I have to be in NZ ? Just forward planning!!

Answer 1

hi generally you need to be in NZ as they require an IRD no (tax number) to open bank account, if you go over for holiday before you emigrate then do it then otherwise keep your uk account open until you get there and do a bacs transfer, sometimes this can be done for fixed fee instead of % of amount transferred, alternativly keep your uk account open until you create a good credit rating over there as for first year you wont exsist, good luck and can i come with you please

Answer 2

I live in New Zealand and did something similiar when I took a vacation in the U.S.A........

I opened an account in the states using Visa...( online) then when I arrived in the U.S I transferred a bigger amount from back home......

I relise that may not help you much but if you want to google NZ Banks Im sure there will be a contact number you can email and ask.......

I use to be with one of the big banks ( Westpac) but they just got too greedy so I changed to Kiwibank.....( NZ owned too )

unlike the others....

Also give the NZ Embassy a call.....your query would be quite a common one Im sure....

Good Luck and see ya when you get here.....

Ka Kite Ano....

Answer 3

I emigrated from the US about 3 years ago and opened a regular bank account, changing some of my USD into kiwi dollars, but have kept some USD in an offshore account, waiting for the exchange rate to get favourable for conversion again.

Answer 4

There are a few companies who specialise in transferring larger amounts. For NZ, maybe have a look at nznews.co.uk - they don't do the transfer, are just a newspaper - but are targeted to Kiwis here, so may have adverts for companies doing what you need.

Other suggestion would be talk to the HSBC - their international banking department. I know that recently they opened one of their international banking centres in Auckland NZ, so you may be able to have an account all set up before you go, and funds transferred etc through them.

Best of luck with it.