Time for an update - investing overseas from NZ

[blackcap]

A problem I found with the global ETFs on the ASX is that it's not easy to receive the dividends. I spoke to Vanguard and they said I had to have an Australian bank account. I think iShares might still send a cheque but I'm not 100% sure on this. Even if they did that's another cost cashing a foreign cheque, and a significant one if the dividend amount is quite small.

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Kaspar, I have an Online Cash Management Account (OCMA) with Direct Broking. I get many dividend cheques from Australian companies some of them pretty small. I then send these cheques to Direct Broking who put them into my OCMA at no cost and 3 days later the funds are cleared. These are then to be used to buy more shares or for whatever you want. I used to have to take these cheques to the bank at considerable cost but no more.

[heisenberg]

Hmm, I wonder if ASB securities offers a similar service- will have to look into it. A lot of good replies here, thanks
Added: ASB does have a foreign currency account-
"Minimal fees - There are no transaction fees associated with the ASB Foreign Currency account for transfers being made between an ASB Cash Management account and an ASB Foreign Currency account. However, if you withdraw funds from your ASB Foreign Currency account in the form of a telegraphic transfer, travellers cheques or foreign cash, fees will apply."

I wouldn't plan to withdraw any funds from this foreign account, just to reinvest whatever is earned. Could be an option.