NZD to EURO

Lemsiper

Hi, I'm looking for people's opinions on what's the best option for changing our NZ dollar to euro.

My girlfriend and I will be leaving New Zealand soon and moving back to Ireland indefinitely. We're presently debating whether to withdraw and change i) before leaving New Zealand ii) during stopover in US iii) wait until we get home.

Between us it will be less than 10k and probably loser to 5k depending on how much we spend before NZ.


Any advice much appreciated.

wassie

Hi,

If you have an Irish bank account, I would use a peer-to-peer currency exchange such as CurrencyFair. (You need a bank account in each of the respective countries for it to work).

They offer the best exchange rates and their fee will be ridiculously low (probably around only €3.00). You do need to check however if your respective banks charged an international transfer fee or intermediary bank fees may also apply. See the Currency website for details.

Importantly they are regulated by the Central Bank in Ireland and ASIC in Australia (where they are based) so you have a level of assurance your money will be safe.

This probably isn't so useful for a US side trip - a preloaded credit card in the currency of your choice may be useful for that.

As a general rule whatever you choose you only want to be exchanging currency once - otherwise everytime you exchange you will potentially reduce the total capital value of your money.

Good luck

Lemsiper

wassie wrote: »

Hi,

If you have an Irish bank account, I would use a peer-to-peer currency exchange such as CurrencyFair. (You need a bank account in each of the respective countries for it to work).

They offer the best exchange rates and their fee will be ridiculously low (probably around only €3.00). You do need to check however if your respective banks charged an international transfer fee or intermediary bank fees may also apply. See the Currency website for details.

Importantly they are regulated by the Central Bank in Ireland and ASIC in Australia (where they are based) so you have a level of assurance your money will be safe.

This probably isn't so useful for a US side trip - a preloaded credit card in the currency of your choice may be useful for that.

As a general rule whatever you choose you only want to be exchanging currency once - otherwise everytime you exchange you will potentially reduce the total capital value of your money.

Good luck

Amazing! Thank you for such a helpful response. I will certainly explore this option.

wassie

No problems. There are other peer-to-peer exchanges around also, however ensure what ever one you use ensure they are regulated in at least either NZ or Ireland so that you know there is some protection for your money if things go wrong with a transaction.

Good luck with the travels - very jealous!