sharetrader
Page 3 of 3 FirstFirst 123
Results 31 to 32 of 32
  1. #31

    Default

    Quote Originally Posted by Cricketfan View Post
    Cool, didn't know about that. I take it once you have money in NZD, you can transfer it to a regular bank account? Or do you have to spend it via purchase transactions?
    You can perform local bank transfers in each currency, e.g. NZD to a NZ bank account, AUD to an Australian bank account, etc. They provide you with a "virtual bank account" in each currency, with your own account number, etc, so you can send and receive local payments all around the world. You also get the equivalent of NZ$350 of free ATM withdrawals per month (in any country) using your TransferWise debit card.

  2. #32
    Member
    Join Date
    Aug 2009
    Posts
    309

    Default

    One way to minimise the problem with cashing in Aus $ dividends is:
    1, open a nominee account with asb and all Aussie Shares (and NZ shares) are held in the nominee account (annual fee of $500 - but free for me since I have margin lending account)
    2, open an Australian $ currency account with ASB and you could get all the dividends credited to this account - any hassles asb will deal with on your behalf!
    3, when required transfer NZ$ to your Australian $ currency account via OFX (cheaper than transferwise) - very easy process once you set up an account with OFX)

    4, you could utilise Aus $ account for purchasing Aus shares

    No more hassles with cashing in your dividends from Australian shares and if any issues asb will deal with it for you! Of course only applies if you deal with ASB and not sure if it will work for other currencies

    Discl- hold OFX
    Last edited by RRR; 13-09-2019 at 11:47 AM.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •