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  1. #1
    Staying hungry, staying foolish
    Join Date
    Oct 2019
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    Default Best way to deposit USD cash into ANZ foreign currency account?

    Hey folks! 😊


    Hope everyone's having a great day. So, I've got a bit of a conundrum and I reckon you all are just the crowd to help me untangle it.


    Here is the situation: I have an ANZ foreign currency account (USD) and found myself with a nice little surplus of USD cash after a recent trip. Nothing massive, just a few K. Now, I thought it'd be a straightforward task to deposit this directly into my account. Lo and behold, ANZ has other ideas! 🙄


    According to their website (https://www.anz.co.nz/comms/foreign-cash/), it seems they've stopped direct deposits or withdrawals of foreign cash in branches. But, they do mention we can digitally deposit and withdraw foreign currencies via electronic transfers between ANZ accounts or international money transfers.


    Now, I'm scratching my head trying to figure out the most cost-effective method to deposit this USD cash into my foreign currency account. Any suggestions?


    Really appreciate any tips or hacks you folks might have up your sleeves. 🙏
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    “The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him.”

    Leo Tolstoy

  2. #2
    Reincarnated Panthera Snow Leopard's Avatar
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    Default

    Stick it in the draw until your next trip out of NZ then swap it for the local currency as needed.
    om mani peme hum

  3. #3
    Guru
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    Apr 2003
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    Wellington, New Zealand
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    Default

    Quote Originally Posted by Snow Leopard View Post
    Stick it in the draw until your next trip out of NZ then swap it for the local currency as needed.
    That is what we do. I have a drawer full of Singapore $, Hong Kong $, Euros and a few other currencies. Nothing too special but it can be handy when you land at the airport.

  4. #4
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    Auckland, , New Zealand.
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    Default

    Except that often currency gets replaced and then you have to go through hand springs to dispose of the old notes.

  5. #5
    Advanced Member
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    Feb 2011
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    Default

    Where are you based I could purchase a K of it if you are in Wellington ?

  6. #6
    Staying hungry, staying foolish
    Join Date
    Oct 2019
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    44

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    Quote Originally Posted by stoploss View Post
    Where are you based I could purchase a K of it if you are in Wellington ?
    @stoploss
    Thanks a ton for your kind offer, it's really appreciated! However, I've decided to hang onto the USD for the time being.
    Thanks again for your willingness to help out, it's gestures like these that make this forum a great place!
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    “The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him.”

    Leo Tolstoy

  7. #7
    Staying hungry, staying foolish
    Join Date
    Oct 2019
    Posts
    44

    Default

    Quote Originally Posted by Snow Leopard View Post
    Stick it in the draw until your next trip out of NZ then swap it for the local currency as needed.
    Thanks. You know what, I think you've hit the nail on the head. It seems like the most practical course of action given the circumstances. Let the dollars take a little vacation in the drawer till their next overseas trip.


    It seems they were getting little jealous while their siblings are hard at work in the bank, earning a sweet 4.45% p.a. for a 60d term deposit. Guess it's time to let them know not all dollars are born to yield, some are meant for adventures!
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    “The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him.”

    Leo Tolstoy

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