Easiest/Cheapest Way to move money from Australian to New Zealand

Ldave1234 on 03/09/2018 - 13:17

I'm moving short term to NZ for study and need to move money for tuition and living expenses in AUD to NZD.

I've been looking into ways to transfer between accounts and am wondering if the simplest way is to just withdraw the max limit from my citibank plus debit mastercard from ATM's and re-deposit it in cash into a NZ account.

If possible I'd like to find the simplest way with the least amount of fees, was thinking about doing it via paypal but I'm worried if I tick the wrong box it will put me out a lot in conversion fees.

Has anyone had any experience using the Citibank or another method to convert funds without incurring excessive conversion fees?

Financial

Comments

  • Hybroid on 03/09/2018 - 13:18
    +5

    Transferwise works a treat for me from UK to AUS with lowest fees and best conversion rates. Give it a look.

  • geek001 on 03/09/2018 - 13:28
    +2

    +1 for Transferwise. Tried comparing a few others the last time I transferred money, Transferwise had the best rate for larger amounts.

  • dave1234 on 03/09/2018 - 13:43

    Thanks heaps! Looks pretty good, xe rates seem the same with a 0.5% fee on transfers.

    I used xe for an international transfer for a course to usd before and I think they charged a lot more than 0.5%. Wish I asked this question before!

    • mdsh on 03/09/2018 - 14:02
      +1

      Also, first transfer is free at Transferwise if you use a referral link.

  • altomic on 03/09/2018 - 13:45
    +1

    why not use a foreign ATM fee free CC/DC and deposit your funds in to that?

  • [Deactivated] on 03/09/2018 - 14:24
    +1

    I use HiFX regularly and found it easy to use with a good rate. It is fee free for large sums of money although I cannot remember the exact amount.

    Hope this helps.

  • CLoSeR on 03/09/2018 - 16:02
    +1

    Transferwise is popular, but if you already have a Citibank Plus account then they don't charge for international transfers and rates are very good.

    • ctd on 06/09/2018 - 06:00

      Better than others, but in my experience they're not as good as Transferwise.

  • matt3 on 03/09/2018 - 19:21
    +3

    Ask the OzBargain bikies - I think they run a sweet deal.

  • Love a bargain on 04/09/2018 - 13:38

    Free international transfer with Citibank plus?

  • streetsmart on 06/09/2018 - 00:18

    Orbitremit

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