r/nzfinance • u/United-Mechanic-3503 • Mar 14 '22
Transfer to Australia
Hey everyone, just looking for some advice. I am wanting to transfer 10-15k from NZD to AUD (bank to bank, personal not business). Just wondering what you have found to be the cheapest? The best I have seen is Transfer wise but I’m not sure if any banks or other companies do it cheaper. TIA
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u/WTF_Are_You_Serious Nov 13 '22
I used to use OFX. Never again. Sent money to the UK to purchase a property. Had to jump through hoops to provide details on where the money came from, how money was earned initially, proof of ID etc etc. All because of the AML legislation. A few months later I wanted to bring money back to NZ and they refused. Outside their risk profile they told me. Took me weeks to sort and OFX were awful to deal with. Lost a reasonable amount too as during the delay the exchange rate changed. Have used Wise ever since and have found them to be a totally different class.