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Bank Transfer NZD to EUR

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  • 25-07-2020 3:33pm
    #1
    Gimmemymoney
    Registered Users Posts: 3 ✭


    I have NZD$200k in my NZ bank account that I want to transfer to my Irish PTSB account.

    What’s the best way to do this in order to minimise fees/currency conversion costs?


Comments

  • Options
    #2
    jmlad2020
    Registered Users Posts: 691 ✭✭✭jmlad2020


    Gimmemymoney wrote: »
    I have NZD$200k in my NZ bank account that I want to transfer to my Irish PTSB account.

    What’s the best way to do this in order to minimise fees/currency conversion costs?

    Try Transferwise. Its fast, legit and I never have any issues.

    I've had a look and it will cost you 6NZD, cheaper and faster than a typical bank transfer.


  • Options
    #3
    Gimmemymoney
    Registered Users Posts: 3 ✭Gimmemymoney


    Thanks, I do have a transferwise account so have no problem using that. Just wondering if there are better alternatives for a large sum.

    It’s NZD977.23 for a NZD200,000 transfer (0.49%).


  • Options
    #4
    zell12
    Registered Users Posts: 23,367 ✭✭✭✭zell12


    Use a comparison currency transfer website, ie
    www.fxcompared.com

    shop around


  • Options
    #5
    robman60
    Registered Users Posts: 2,222 ✭✭✭robman60


    You have a few options. The one thing you absolutely should not do is transfer from your NZ bank straight to PTSB. You'd be thousands out of pocket.

    Revolut allows you to do €6000 a month for free so you could do that, or temporarily upgrade to premium for less than a tenner per month and you have unlimited transfers.

    Personally, and I recognise this isn't for everyone and is different if you need the cash in Ireland immediately, but I'd transfer it in chunks just to effectively average the exchange rate you get.

    I used to use currencyfair/transferwise but the Half a percent fee would be a lot as you've shown on such a large amount.


  • Options
    #6
    Darc19
    Registered Users Posts: 3,817 ✭✭✭Darc19


    Option 1 - call ptsb and ask for their best market rate. Not sure about ptsb doing it, but easy if you bank with aib.

    Option 2 - transferwise or transfermate. Again, call them for best rates. You might get to 0.3%


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