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Banned
Originally Posted by SBQ
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.
Last edited by Paddles; 13-02-2020 at 04:37 PM.
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Originally Posted by Paddles
, 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.
For clarity, nothing I say is advice....
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Originally Posted by SBQ
Yes the major banks have large spread on the exchange rate. Well in excess of 2% from the market rate. I will need to ask if my BNZ manager can get me in touch with their 'International Team' to get me a better rate. However, uncertain how readily accessible this would be. I'm certain most bank teller workers would be unaware of this feature.
More to come so stay tuned!
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.
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Originally Posted by iceman
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.
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I have a Nigerian prince contact who would swap large sums of money with you ... at least that is what his email said.
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Originally Posted by SBQ
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 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 !
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Originally Posted by peat
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.
Last edited by GTM 3442; 16-02-2020 at 02:33 AM.
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