View Full Version : Reducing exchange rate/admin fees (single bank transaction)

27-08-2018, 10:32 AM
Hi all,

The business regularly exchanges money between NZD, AUD and in the future potentially GBP and USD.

The business has accounts with ASB, and the exchange rate fees are quite high - the exchange rate is OK but the exchange convenience fee makes up for that.

Does anyone know of a way to reduce the cost of exchange between the above currencies, I am happy doing leg work or filling out any required paperwork if it will save the business money. The last exchange cost nearly $1,000 in exchange rate fees and a could-be-better exchange rate.

Looking forward to seeing what others do with their personal and business funds on exchange that I could do better.

27-08-2018, 10:43 AM
There are places like this which have been around for some time. Don't have any requirement for using them myself.


27-08-2018, 11:09 AM
Thank you Triple-seven, I have just registered the business with them (I did not realise this was possible, awesome!) - I have used this companies services for several years sending money through to Thailand, a great outfit. Thank you.