LUMP SUM

AFOURMAN

HI
I AM MOVING TO NEW ZEALAND SOON (YIPPEE!)
I HAD INTENDED ON MOVING ALL MY CASH AT THIS TIME, HOWEVER GIVEN THE RECENT JAW DROPPING DECLINE IN EXCHANGE RATE I AM NOW CONSIDERING MY OPTIONS.

CAN ANYONE RECOMMEND A SUITABLE HOLDING ACCOUNT HERE IN THE UK THAT I CAN LEAVE MY MONEY, KNOWING IT WILL ACCRUE A REASONABLE RATE OF INTEREST AND IS READILY AVAILABLE WHEN (HOPEFULLY) THE EXCHAGE RATE IMPROVES??? ???

Speculator

Simple.

Open a Nationwide flexaccount (current a/c)

Next open their Internet savings account which is linked to the current account.

Transfer all your savings to this internet savings account which pays 5.00% gross.

If exchange rates pick up, transfer the money to your Flexaccount via the net and withdraw the money commission free using the Nationwide VISA Debit card at any ATM machine displaying the VISA LOGO in NZ.

Hope this helps.

AFOURMAN

thanks

that sounds too easy, will look into it.

one problem i have with that is,

i have to close my interent access as i am finishing work. (my current employer provides my IT hardware)
once in NZ i will have to set up again, a fresh so to speak, therefore wont this prevent me from re-accessing my new account?

hope that makes sense???

Speculator

This is what I did when I went to HK for 6 months.

Also, you can access your Nationwide ac wherever you are in the world as long as you have internet access and your passwords for your account.

Also, I think Nationwide are the only organisation that provide commision free access to your money. Exchange rates are better as well since you don't get lumbered with the ripoff tourist exchange rates.

Reaper

Some things to think about - which I don't know the answer to!

If you are emigrating then you will no longer be paying UK tax. Therefore, I assume, you can ask for your savings in the UK to be paid to you free of tax (you need to fill out an R85 form, I believe).

However I guess that if you are paying NZ tax then you might need to pay tax on any money you transfer NZ? I don't know if this is the case but hopefully somebody here can give you the answer.

Kontiki

There is a withdrawl limit when using Flex of £500 per day in the UK & abroad. As for using it me & the wife use it in Europe with no problem & my kids have used it in the USA & NZ without any problems. http://www.nationwide.co.uk/banking/current-account/paying-money-in/taking-money-out.htm
Like has already been said as long as you have your account number & logon / passwords you can access your money from anywhere on the interet.
You also get a cheque book is it possible to transfer the money to a bank in NZ by cheque?