I have a friend in NZ who needs to send me some money. Without incurring exorbitant bank charges, is there an easy and cheap way of doing this? I thought there might be an online method? Like an international NoChex/Fastpay system perhaps?
Thanks for any help. Steve
How much money? What sort of bank charges are you looking to avoid? For small amounts, either cash in the post, or something like amazon vouchers, might be your best bet. Or he could pay you via paypal (but beware of using pp for paying other people until you understand the drawbacks.
Thanks for the reply. It's NZ$450 (around 150). That's interesting about PayPal. Wasn't sure if you could register in other countries, apart from UK and USA. Will look into that.
Thanks Steve
Well dont take that as gospel I had just assumed (dangerous I know) that anyone with a credit card could sign up to paypal.
I would avoid cash in the post for safety reasons. If your friend just writes you a dollar cheque drawn on an NZ bank, you will pay 8 - 10 fees (depending on your bank), get a reasonable exchange rate and have the cheque cleared in a month or two.
If this is not good enough, your friend could track down a trustworthy British tourist and do a deal whereby they get their holiday money and you get your pounds at the middle exchange rate with no fees. To send the money your friend would have to use one of the tourist's cheques which is risky unless your friend is a good judge of character.
Post Office ......... International Special Delivery (or whatever posh name they give it) Insurance up to £250 I think .........
PayPal will set their own exchange rate, (assuming your are having it converted to £ ) plus a percentage
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