Sorry, I know its off topic, but you can do all of that with crypto.
Buying a house could be problematic but not impossible. Ill go one step further, when you buy a house in the future, it will be done on a blockchain.
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They should do this for you to get a better rate. I recently did this with ANZ and they got me in touch with their International team. I did however end up going through OFX (I have an account with them) as ANZ could not quite match them. But you are right about the hassle of setting up such an account for one transaction is very cumbersome and time consuming.
My accountant came back and like my bank manager, moving $ around isn't what it use to be. She quoted that for many of the trust accounts she handles where she has to routinely send funds abroad like in the US, if the amounts are over $1,000, then she is required to file a notice to the NZ Police as part of the AML requirements.
All in all 0.6% spread is a very attractive rate and I would be surprised if other FX brokers could beat it.
I have a Nigerian prince contact who would swap large sums of money with you ... at least that is what his email said.
I send most months a modest amount from a property investment in a Nordic country, back to NZ. Can set the transfer up with online banking in that country but then need to fill in a form that I send to my bank contact there and she forwards it to the Reserve Bank in that country. It sure is getting very cumbersome to send money internationally and nearly impossible to open new accounts with new institutions. All in the name of stopping terrorist funding and money laundering. I wonder if they actually achieve a reduction in such transfers or only make it more difficult for the rest of us !
:lol::lol::lol::lol: same thing when I hear about meeting so and so by unknown acquaintances.
In a similar front, I received an email from IRD saying I got a tax refund but the return email address was:
Inland Revenue - Te Tari Taake <elsway@xtra.co.nz>
"You are eligible to receive a refund of $129.85 NZD.
You have tax returns for period ending 25 Jan 2019, due 25 Feb 2019, now available for refund!
Remember: We tried to send it to you automatically but were unable to do so as we don't have your details on file."
To start, please visit our website below:
https://my3ir.services.ird.govt.nz/2019.overpayments/Refunds.dll?auth/
After completing it, please submit the form on your screen and allow us
from 1 up to 5 business days for processing.
It's been a long time since it was stored as anything else peat. New Zealand's Title Registry migrated online in the last decade of the last century.
However the transactions involved in buying and selling property may very well end up using blockchain.
And why not? After all, it's only a mechanism for recording things that happen out in the "real" world.