sharetrader
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  1. #1
    Member
    Join Date
    Aug 2003
    Location
    Tauranga
    Posts
    96

    Default FX transfer costs.

    With regard to international currency exchange, I'm wondering if there is much variation between FX exchange companys. I usually deal with 1 company but thought a bit more research is appropriate.
    Anyone have any experience with rates on fx transfers.
    Im looking at aud to nzd.

  2. #2
    Advanced Member
    Join Date
    Feb 2011
    Location
    Wellington
    Posts
    1,641

  3. #3
    Guru
    Join Date
    May 2013
    Location
    NZ
    Posts
    2,585

    Default

    Yep there is huge disparity. I use OZ Forex, their spreads are quite as tight as they used to be around 50bps I think.
    Depending in the amount they charge a fee of $12 per transaction as well. If you transfer over a certain amount they wipe the fee.
    Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.

  4. #4
    Veteran novice
    Join Date
    Jun 2007
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    Default

    Has anyone any experience using HiFX New Zealand? A friend has received advice of an inward international payment and is concerned whether it is legit or a scam.

  5. #5
    Junior Member
    Join Date
    Jan 2014
    Posts
    15

    Default

    I have used OZForex for many years and always been very pleased with the service and rates. For NZ residents it is probably more appropriate to use the NZ branch NZForex.

    HiFX is a scam

  6. #6
    Advanced Member
    Join Date
    Feb 2011
    Location
    Wellington
    Posts
    1,641

    Default

    Quote Originally Posted by tomblu View Post
    I have used OZForex for many years and always been very pleased with the service and rates. For NZ residents it is probably more appropriate to use the NZ branch NZForex.

    HiFX is a scam
    I do believe there is a genuine company out there , think they sponsor the Warriors ... just beware of a phishing scam ...... DYOR etc.

    http://www.hifx.co.nz

  7. #7
    Senior Member
    Join Date
    Mar 2001
    Location
    Auckland, , New Zealand.
    Posts
    1,223

    Default

    macduffy - Also is your friend expecting any funds - seems an obvious question but...

    Check the wording of the email is it proper English, use the mouse to hover over any link and see if it says the website that stoploss has mentioned

  8. #8
    Veteran novice
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    Jun 2007
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    Default

    Thanks, Jay, and others.

    No, no funds expected. All "tests" applied, awaiting developments.

  9. #9
    Junior Member
    Join Date
    Feb 2013
    Posts
    27

    Default

    Transferwise is the way to go - I live in London and send money back with them occasionally, peer to peer, much cheaper.

    https://transferwise.com/

  10. #10

  11. #11
    Senior Member
    Join Date
    Mar 2008
    Posts
    645

    Default

    I've had my debit card for around a month and it's a game changer for sure. Been using Transferwise for several years

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