NZForex - www.nzforex.co.nz

I was very concerned at first..., but NZ Forex is super easy and fast, really friendly & helpful staff... I can do it all on my own after 2nd visit..

I just loaded a new recipient and the money's gone, deal done..., in 3 minutes... all done for the price of 2 coffees!

Being a Senior & very conservative I was hesitant to try NZForex however I have found them easy to use, great with communication, and they delivered everything they said they would including communication throughout the transactions & prompt delivery of funds. I think they saved me around $7K overall and I am very happy to recommend them.

I am an existing NZforex customer and have been for over five years conducting currency transfers every now and then. I wished to convert NZD to USD, which I had not done previously. In order to receive a quote after logging in I had to contact the NZ Forex customer centre. Upon contacting them, I was asked to spend a few minutes updating aspects of my profile (this was ok, no problem). Then it came to getting access to do the currency pair. I was asked a number of questions of the nature of the transaction I was intending to do after which I was given access to do a single transfer. This was ok, but I was disappointed that I then had to specifically ask to get access to do a second similar transfer for a few months in the future. I then asked to check whether I could do transfers between currencies I had done in the past also in future and was informed that I would need to call every time in advance before I could do a deal online. I was frustrated by this. Is this customer service or bureaucracy? I was then required to explain these other transactions in detail going to the extent of divulging aspects of my investment strategy and explaining what LIBOR is. I can imagine that there is a need to make sure people aren't evading tax or money laundering and this might be linked, but I was honestly shocked by the extent of data requested by the customer service rep and his statement that he had never heard of LIBOR (was he being honest or purposely intruthful in order to check something about me). Up until this experience I was happy with NZforex, now I have a bad taste in my mouth.

I was let down by my bank of 40 years in regard to the exchange rate they would offer me on Aus to NZ $640 K. Friends recommended OzForex. I was assisted by a senior staff member to complete the registration. Nothing was too much trouble including international calls. Once registered the App is easy to use and helpful. I also appreciated the emails re the arrival of the funds into Forex account, transfer and arrival of the funds into the Beneficiary account.

I ARRANGED A TRANSFER OF FUNDS, ON LINE; TO BE SENT TO GHANA (IN USD )TO PAY BILLS THAT MY WIFE HAD,THAT WERE COMING DUE.

WHEN CALLED BACK; I WAS TOLD THAT I DID NOT HAVE ENOUGH DETAILS OF THE PERSON TO WHOM I INTENDED TO SEND THE FUNDS. THE PERSON TO WHO HELD THE NEAR DUE DEBT.

I AGREED THAT THE TRANSFER BE CHANGED TO MY WIFE.

WHEN THE CHANGE WAS MADE THE FUNDS WERE CHANGED TO NZD, TO BE PAID IN GHANA. FORM THEN ON I GOT A DIFFERENT STORY OF WHY THE FUNDS WERE NOT FORWARDED TO GHANA, FROM EVERY DIFFERENT PERSON THAT I DEALT WITH. EVENTUALLY I WAS TOLD THAT THE FUNDS WOULD BE RETURNED ON CONDITION THAT I SUPPLY THE DETAILS; SHOWING THE FUNDS COMING FROM THE ACCOUNTS.

I WAS BLAMED FOR THE PROBLEM IN THE CHANGING OF THE CURRENCIES,AND AGAIN HAVE BEEN ASKED FOR MY ACCOUNT DETAILS THREE WEEKS AFTER THE INITIAL TRANSFER WAS ATTEMPTED. I STILL WILL HAVE DELAYS BEFORE I AM LIKELY TO SEE THE FUNDS BACK IN MY ACCOUNT.

I HAVE NOW BEEN TOLD THAT FOREX WILL NO LONGER ALLOW FUNDS TO BE SENT TO GHANA. THIS I FIND RACIST; AS IT IS MAKING IT SEEM THAT EVERYONE WHO JUST HAPPENS TO LIVE IN GHANA IS A CRIMINAL OF SOME KIND.

I WOULD GIVE YOU LESS THAN ONE STAR IF THAT WERE POSSIBLE.

I, LIKE MY STOCKBROKER, WILL NEVER USE YOUR COMPANY AGAIN.

3/6/2015

First transaction - two hundred K US to NZ dollar. Person handling transaction asked where funds were coming from and was told NZ bank US dollar account. They said to transfer funds to their Bank of New York account to AVOID intermediary bank fee. We did as directed.

5/6/2015

Followed up to see if our US dollar funds had been received. Person I was speaking to could not find them - said they would let me know 6/6 (a Saturday in NZ) if they still hadn't received them.

I asked how long it usually took for funds to appear in their account. She looked a little further and found our transfer - not two hundred K which is what she (or the system) was looking for but two hundred k minus an intermediary bank fee which she told me (several times) was fifteen dollars.

She explained the fee was charged because our funds came from a NZ account not a US account. I explained that the person who handled the transaction was made aware of this at the time of doing the transaction and suggested that the problem (of my money sitting in limbo) could be avoided if the person making the transfer was told to add the fee to their transaction.

We discussed the second transaction I was in the process of making - she asked if I wanted to add the fifteen dollar transaction fee to the total or reduce the transaction amount by fifteen dollars. I agreed to add the fee to the total.

Shortly after the call ended she called me back and said she was going to credit xxx.xx to my account because of the problem. I was impressed and thanked her.

I then received an email confirming that Transaction #1 funds had been received - but the total received indicated a bank fee of twentry five dollars not fifteen dollars.

If we had already transferred Transaction 2 money + fifteen dollars we would again have had a problem with transferred amount not matching what you were expecting to receive.

While everyone I've spoken to has been great and I truly appreciate the customer service gesture of a credit, I am very surprised (unnerved even) that the possibility even exists for such a small dollar administrative issue to affect the timing of your receipt of my money and the timing of your transfer of money back to my account.

I would recommend your service to a friend but after ONLY one transaction I'd make sure they were very aware of the need to clarify exactly how intermediary bank fees WILL affect the transfer amount.

Given the volume of transactions you process you might revisit this with your staff.

I've used NZForex now a fair few times for small transfers from Australia to New Zealand and they all went without a hitch and within a good time frame.

This time we had sold our investment property in Australia to buy a house in New Zealand and were basically transferring our life savings across, we were extremely worried about doing this or making a mistake in the process and were considering using the banks so their tellers could just do the transfer for us however we decided it was best just to use NZForex to get the better rate.

The current exchange rate is pretty poor but at least by using NZForex we got as close to the actual rate as is possible.

We contacted NZforex who informed us to contact our bank and ensure they are aware we are taking the money out of our account a few days prior to the transfer to ensure we had no slowdowns caused by the bank, they also told us to call back when we are doing the transfer to talk us through doing it so we were confident we couldn't make any mistakes. They were fantastic with phone service and took our fears out of doing the transfer.

Once the money left out Australian account it arrived in NZForex the next day, they then sent us an email saying the money had arrived in their account, from there they sent another email later that day saying they had transferred it to our New Zealand account, sure enough the next morning it was there, we couldn't believe the speed. It was cleared straight away and ready to go.

Thank you NZForex, we will always point everyone in your direction, so much better than the banks!!!

Simon Muilwyk

Have used NZ forex several times now for currency transfers to Australia. On every occasion we have found the transaction to be hassle free, and the staff service exceptional. The last transaction we placed the order on a Thursday and transferred the money to NZ forex the same day and were most impressed when the following day it landed in the Australian account.

We will definitely continue to use NZ forex and highly recommend them to anyone wanting fast, efficient money transfers at a competitive rate.

Since July 2013 I have used NZForex's services on 10 different occasions and each time I have been more than impressed with their rates and service. Their rates are consistently higher than the bank's we used to use AND no fees under $NZ10,000. Very helpful staff when I have contacted them, prompt, patient and courteous service, especially for a greenhorn like myself who knew absolutely nothing about, and who does not really understand, the world of foreign exchange. I have recommended their services to others - even to the accountant of the company I was employed by for their foreign buying/selling - and would recommend them to anyone wanting to buy or sell foreign exchange. Thank you NZ Forex for helping me through a quite stressful time of moving all our funds to Australia where we now live.

During the past month I have completed three transactions, two to USA banks accounts in US$ and one to a 3rd party UK Euro account. The rates were significantly better than any NZ bank and the only fee was $12 for one transaction under $10,000. Previously I did use my bank and sent funds to the UK Euro account which attracted fees from both my bank and an unknown intermediary bank totally $53.

NZFOREX service was very efficient and the funds where received by the recipients within 48hrs. I have recommended NZFOREX to friend