Sending Large Sum $ out of NZ - Implications ?

[Paddles]

Besides, sooner or later you'll need to realise it in fiat currency and to do that, it has to pass through into a banking system.

That's not necessarily true.

It is possible to survive using crypto only. In fact crypto will take you further than anyone single fiat currency will.

[SBQ]

That's not necessarily true.

It is possible to survive using crypto only. In fact crypto will take you further than anyone single fiat currency will.

well I wouldn't want to make it a challenge. At the moment i'm not seeing places like Countdown and PaK N Save accepting BTC payments. Likewise trying to buy a car in NZ or paying your house bills or even buying a new house. The AML laws are very clear and strict where the $ flows.

[SBQ]

OK good news. Came back from BNZ and was very impressed with the exchange rate. At the time the open market rate was 0.6464 and the dealer rate he offered (as it changes minute by minute) was 0.6425. A difference of 0.006033 or 0.6% as he mentioned, moving $ around has become a lot more difficult for the banks with lots of regulations ; 'it's the 0.1% that wrecks it for the 99.9% of those who are legit and play by the rules'.

Thanks for your reply stoploss, however I could not resist the great rate BNZ gave me.

[Paddles]

well I wouldn't want to make it a challenge. At the moment i'm not seeing places like Countdown and PaK N Save accepting BTC payments. Likewise trying to buy a car in NZ or paying your house bills or even buying a new house. The AML laws are very clear and strict where the $ flows.

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.

[peat]

, when you buy a house in the future, it will be done on a blockchain.

I'm not having my Title Deed stored only as 1's and 0's thank you.

[GTM 3442]

I'm not having my Title Deed stored only as 1's and 0's thank you.

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.

[Timesurfer]

I have a Nigerian prince contact who would swap large sums of money with you ... at least that is what his email said.

[SBQ]

I have a Nigerian prince contact who would swap large sums of money with you ... at least that is what his email said.

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.