sharetrader
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  1. #1
    Junior Member
    Join Date
    Jun 2009
    Posts
    4

    Default Bpay and international funds transfer

    Hi all,

    I live in NZ and own Australian shares and through a share placement it suggests making payment through Bpay.
    I'm not really sure what this is and if we have access to this in NZ Banks.

    What is the best way to send my money to the company electronically as don't have much time left.

    I bank with ANZ which appear to have two options: International Money Transfer or International Bank Draft

    Thanks in advance,
    EJ

  2. #2
    Guru
    Join Date
    Feb 2005
    Location
    Auckland, , New Zealand.
    Posts
    2,623

    Default

    I think International Money Transfer would be your best bet. Cost about $25.00. Just make sure you have all the bank details when you go to the bank. It is pretty much instant and would show up in their account the next day. Draft would need to be mailed.

    Bpay seems to be an Australian thing. I stand to be corrected on that.

  3. #3
    Senior Member
    Join Date
    Nov 2012
    Location
    Auckland
    Posts
    1,358

    Default

    Most placements allow you to do bpay or cheque(in aussie dollars).

    Aussie cheque is a pain because you need to goto the bank to get the cheque then the post office to send it.

    BPAY is better. But you need an aussie bank account OR if you are with ASB securities, they will do it on your behalf (for $25?)
    No advice here. Just banter. DYOR

  4. #4
    Advanced Member
    Join Date
    Feb 2011
    Location
    Wellington
    Posts
    1,651

    Default

    Quote Originally Posted by ellj13 View Post
    Hi all,

    I live in NZ and own Australian shares and through a share placement it suggests making payment through Bpay.
    I'm not really sure what this is and if we have access to this in NZ Banks.

    What is the best way to send my money to the company electronically as don't have much time left.

    I bank with ANZ which appear to have two options: International Money Transfer or International Bank Draft

    Thanks in advance,
    EJ
    IF you have an ANZ sharetrade account they may make the payment for you. I have a OMCA account with them and they have made SPP payments out of this account ( no fees ) .

  5. #5
    Senior Member
    Join Date
    Mar 2001
    Location
    Auckland, , New Zealand.
    Posts
    1,230

    Default

    ASB Securities will do it for you as well if a client, cost $12 and the funds must come from your Aust. Cash management account.
    Need to allow a couple of Business days to be on the safe side.
    I just enquired with them the other day as I was looking to do the same thing.

    Sorry noodles did not see your post! But can confirm it is $12.00
    Last edited by Jay; 23-01-2014 at 07:32 PM.

  6. #6
    Senior Member airedale's Avatar
    Join Date
    Apr 2003
    Location
    Above the high tide mark.
    Posts
    1,263

    Default

    If you use ANZ share and bond trading, then when you get the papers from the Aussie company e.g. BHP, advising you of your entitlement in the offer to shareholders, ring ANZ S&B trading and tell them that you will email or fax the paperwork to them, then ask them to take the money from your S&B a/c and do the Bpay transaction. I deal with Daniel Lewington, always helpful.
    I presume that the ASB share trading office has a similar system.

  7. #7
    Member
    Join Date
    Sep 2007
    Posts
    388

    Default

    KW do you use IB and their services?

  8. #8
    Junior Member
    Join Date
    Apr 2014
    Posts
    6

    Default

    I've been using NZForex for the last few years. Found them very good.

    Looking at IB now though after KW's post. Is there a downside, KW?? I can't seem to get a quote before signing up, but from what I've read they give you the interbank rate and only take a VERY small fee? As in $2 US. Is this the case?

    What's their current rate for AUD to NZD?

  9. #9
    percy
    Join Date
    Oct 2009
    Location
    christchurch
    Posts
    13,582

    Default

    Perhaps the above may be helpfull.

  10. #10
    Guru peat's Avatar
    Join Date
    Aug 2004
    Location
    Whanganui, New Zealand.
    Posts
    4,654

    Default

    I use OFX if I need to move money to or from Australia.
    For clarity, nothing I say is advice....

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