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Thread ID: 82438	2007-08-27 11:23:00	Transferring funds to the UK	Mercury (1316)	PC World Chat

Post ID	Timestamp	Content	User
585140	2007-09-06 00:03:00	Hi Tom, The 22 year old is a while off pensioner status. But being a student... must get her to check that one out. But it doesn't solve the parent problem. We are the ones that tend to pay bank fees to subsidize the students and pensioners. I think the answer is either NZ Forex or Elldridge Lynch. Can't do it yet as she hasn't an account yet. But looking at the diving exchange rate I should probably do some research into forward purchases. But that, of course, means increasing the flexi loan now. Now if only I had a time capsule to go back a couple of weeks to when the exchange rates were peaking.	Mercury (1316)
585141	2007-09-06 00:06:00	Last time i went to singapore, I went to the bank in person and they were more then helpful telling me my options. Banks are extremely helpful on explaining THEIR options. I doubt they'd be quite so helpful on explaining the opposition's options - Foreign Exchange companies.	Mercury (1316)
585142	2007-09-06 22:39:00	Hi Tom, We are the ones that tend to pay bank fees to subsidize the students and pensioners . Gosh thanks Mercury . Certain aspects of being a pensioner are quite delightful . Having you pay our bank fees is great . Now if only we could get free transport . According to my UK relations who already have free bus etc services in their local areas, they will have free travel nationwide from next April . My sister in law and her husband are already planning their trip from the midlands to Edinburgh . Tom	Thomas01 (317)
585143	2007-09-07 06:47:00	Glad to be of service Tom.	Mercury (1316)
585144	2007-09-07 08:53:00	NZ Banking is so far advanced on the UK that it is hard to believe. UK EFTPOS is not Real Time, or certainly not for the Nat West, with the consequence that one can easily enter an unauthorised overdraft situation, and the penalty fees for that will make your eyes water. I have been with National Westminster Bank for over 35 years and they are now owned by the Royal bank of Scotland. Their Customer Service is abysmal, so my advice is to avoid that Group. You will need a UK bank account if you are going to work there, and the best course of action is to open one in NZ if at all possible before you leave and transfer money through the Banking System.To open a UK Account in NZ definitely restricts your options, as it will have to be with a Bank that your NZ Bank has close relations with - you just can't open an account easily now in the UK without fronting up to the actual Bank branch with which you intend to bank with, and besides all the proof of identity documents you will be required to provide proof of residence, this is not just staying with someone but,a rentbook, plus phone or utility account in your name at that address etc etc. It became one hell of a lot harder after 9-11. So if you can open an account through your bank in NZ go for it. Just about every mode of transferring money other than by TT from Account to Account is more expensive - there are frequently hidden charges, and the exchange rate used can have quite a bearing on the cost.Fewer large transfers are cheaper that small frequent ones. If you are transferring NZ Dollars to the UK, have them changed to UK Pounds in NZ don't have the draft go through in NZ Dollars or you will be hit with exchange transaction fees at the other end.	KenESmith (6287)
585145	2007-09-07 09:30:00	She's left it too late to organize a bank account now - leaves on Monday . But she will be living in official student accommodation and there is a branch of some bank on campus . Interesting to see how she gets on . When we used Mum's account in 1994 the paperwork was a right drama . Multiple letters back and forth and I had to go down to the ASB to get a reference from them before leaving NZ . ASB were Not Amused and made some scathing comments about their British counterparts . Then their service when we were in Britain was so last century it wasn't funny (and I ain't talking here about the 20th century!) I grew up in a New Zealand that we knew was behind the rest of the world in so many ways . Mum went to Australia for my aunt's wedding nearly 40 years ago and came back with a wonderful new product - Glad Wrap . Couldn't get things like that here at that time due to massive import restrictions . When we travelled in 1994 I was stunned at how far advanced NZ was in comparison with the rest of the world . Banking systems, supermarkets etc far superior to overseas . We had been told that NZ was used to test new products as we were a small market - and it was true .	Mercury (1316)
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