Save on International Money Transfers
As communicated last month in our article ‘Are you Sending Money Internationally?’ we are pleased to announce that we have recently commenced a relationship with NZForex a global foreign exchange specialist to help save our clients money on international money transfers.
Did you know that banks may apply unnecessary high margins and fees to international transactions? This has prompted us at the Loan Market Group to partner with NZForex.
On behalf of our clients, we have negotiated rates of exchange which will not be beaten, and the difference in rates may even be in the thousands of dollars.
With a special NZForex offer to waive all transfer fees for Loan Market clients, savings on smaller transfers soon add up if you are making regular payments and transfers.
NZForex can also provide you with advice and hedging tools in order to assist you in managing the volatility of the foreign exchange markets.
Here are some frequently asked questions:
What can I use NZForex for?
If you are sending money Internationally then NZForex can help.
How Much will I save with NZForex?
This depends on how much is being sent, but at the very minimum you will be saving the fees incurred using the banks, this is normally $25-$50 to send and receive, so up to $100 on fees alone. The margins applied by the banks can often be significantly higher, meaning a difference of thousands, or even more in your bank account, by using NZForex. It is best to talk to me about your particular situation.
I am worried about what the NZD is going to do in the future, as I have just agreed to buy a NZ Property, can I lock in a rate today for delivery later?
Clients can take advantage of forward exchange rates using forward exchange contracts (FECs). An FEC allows clients to lock in an exchange rate today for a transfer that needs to occur in the future (between two days and twelve months from today), thereby protecting against exchange rate movements in the interim.
How do I know what the rate is at the moment?
The exchange rates are continually changing, by looking at the live rates on the NZForex website; you will be able to see what the rate is 24 hours a day. By registering and logging into the website, you will be able to get live quotes for your specific profile. And, for extra convenience you can also set rate alerts to trigger an email or text message if the currency hits your ‘target’ rate.
Can I speak to someone or do I have to deal online?
We have a team of dedicated dealers available 24 hours a day 5 days a week to assist with all of your queries or questions. This is a free call from NZ 0800 161 868.
What are the other benefits of using NZForex?
- Zero transaction fees
- No receiving bank fees in most countries
- Extremely competitive foreign exchange rates across 52 currencies
- Online access 24/7
- Access to a dedicated dealer by phone 24-hours a day, 5 days a week
- Complete exchange rate transparency
- Risk management tools through Limit Orders and Forward Exchange Contracts
- Exchange rate alerts via email
- Access to their highly regarded daily and weekly ‘Market Commentary’
For more information on how to register free for a no obligation quote or for more information contact me today, and remember this special offer is only available through Loan Market.