Best way to deposit USD cash into ANZ foreign currency account?

[hyinvest]

Hey folks! 😊


Hope everyone's having a great day. So, I've got a bit of a conundrum and I reckon you all are just the crowd to help me untangle it.


Here is the situation: I have an ANZ foreign currency account (USD) and found myself with a nice little surplus of USD cash after a recent trip. Nothing massive, just a few K. Now, I thought it'd be a straightforward task to deposit this directly into my account. Lo and behold, ANZ has other ideas! 🙄


According to their website (https://www.anz.co.nz/comms/foreign-cash/), it seems they've stopped direct deposits or withdrawals of foreign cash in branches. But, they do mention we can digitally deposit and withdraw foreign currencies via electronic transfers between ANZ accounts or international money transfers.


Now, I'm scratching my head trying to figure out the most cost-effective method to deposit this USD cash into my foreign currency account. Any suggestions?


Really appreciate any tips or hacks you folks might have up your sleeves. 🙏

[Snow Leopard]

Stick it in the draw until your next trip out of NZ then swap it for the local currency as needed.

[blackcap]

Stick it in the draw until your next trip out of NZ then swap it for the local currency as needed.

That is what we do. I have a drawer full of Singapore $, Hong Kong $, Euros and a few other currencies. Nothing too special but it can be handy when you land at the airport.

[777]

Except that often currency gets replaced and then you have to go through hand springs to dispose of the old notes.

[stoploss]

Where are you based I could purchase a K of it if you are in Wellington ?

[hyinvest]

Where are you based I could purchase a K of it if you are in Wellington ?
@stoploss
Thanks a ton for your kind offer, it's really appreciated! However, I've decided to hang onto the USD for the time being.
Thanks again for your willingness to help out, it's gestures like these that make this forum a great place!

[hyinvest]

Stick it in the draw until your next trip out of NZ then swap it for the local currency as needed.
Thanks. You know what, I think you've hit the nail on the head. It seems like the most practical course of action given the circumstances. Let the dollars take a little vacation in the drawer till their next overseas trip.


It seems they were getting little jealous while their siblings are hard at work in the bank, earning a sweet 4.45% p.a. for a 60d term deposit. Guess it's time to let them know not all dollars are born to yield, some are meant for adventures!