Payment

Thomask

Hi

I had my wallet stolen whilst overseas. I had planned on using my Nationwide Cashcash to withdraw funds and obtain an excellent rate yet instead had to borrow Euros from friends with me.

I plan on using XE's forigern exchange service to send funds, in New Zealand dollars, by draft back to them.

Is it fair to calculate the euros into £, via XE.com, then send that many £'s in NZD?

Thomask

buuuuuuuuuuuump

lisyloo

Send them too much to make sure it's covered.

It sounds like your friends really helped you out at a bad time.
It's not worth creating any bad feeling over a few quid.

If they were my friends in the UK, I'd buy them a pint or two, so just top it up a little.

taless

My experience with NZ banks is that they offer a much better rate in buying Sterling compared to UK banks which offer a rather mediocre rate in selling you NZDs. And NZ banks do not charge any commission for conversions.

Personally I'd send drafts in GBP to them (perhaps overpaying a bit for their kind help) - so that in the end it's your friend who benefits and not the banks.


Some helpful sites of NZ banks' rates:
Westpac NZ - http://www.westpac.co.nz/olcontent/olcontent.nsf/Content/Foreign+exchange+rates?OpenDocument&refr=rates
National Bank of NZ -http://www.nationalbank.co.nz/personal/product/index/fxrates.aspx
Bank of New Zealand - http://www.bnz.co.nz/Rates_and_Fees/1,1184,20-189-513-2490,FF.html

21castlehill

What's wrong with using the Euro to NZD rate then you purchasing NZD a few extra for their trouble. Personally I'd be checking the rate on the day they lent me the money in case the rate has changed in such a way that I'd still be short changing them too.

Thomask

Thanks all.

Of course I'll be repaying them in full plus a little extra.

My original post was just to work out the eaisest way of paying them back.