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Paying AUS Mortgage from NZ

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  • Paying AUS Mortgage from NZ

    Hi all!

    I have a friend who has just moved to New Zealand from Australia.

    She is trying to figure out the best way to move money from her account in New Zealand into her mortgage account at the Commonwealth Bank in Australia.

    Has anyone come up with an innovative solution to this?

    I know you can do electronic money transfers but is there another way - ie. a bank that works between the two countries?

    Cheers!

    Regan

  • #2
    i used to just get my banks to do a foreign telgraphic transfer. Although you will need the banks special codes to enable the transfer.
    Ring the bank you wish to transfer from and they can help you.

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    • #3
      You may also wish to investigate a foreign exchange company their rates are better than a bank but you have to transfer a minimum of $2k some don’t have transaction fees.
      I have used http://www.ozforex.com.au/ to transfer funds both ways across the Tasman.

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      • #4
        Realistically due to likley amounts involved Whitts suggestion will work ok or through darrylls use of FOREx dealers.

        One thing you may want to do to take advantage of the high $NZ at present is to ask you bank if you can buy forward cover for the monthly payments over the next 12 or 24 months this way you can have certantity of the $amt and lock in the current rates of .905 - .915c AUD . It depends on the $amt you need each month as to if the banks would do it

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