Forex Traders in New Zealand (Bank withdrawals + fees)

[Moyes]

Hi there, I am trying to find out what my best option is with regards to withdrawing money from my Australian broker(IC Markets and AxiTrader) to a New Zealand bank. From what I gather every time I do a withdrawal i get a fee of around $50. $25 from the Australian bank and then another $25 for the banks to receive it here in New Zealand.

Any other options out there to at least try and slash the fees down to half. I find $50 to be on the high side.

I’m with Kiwi Bank in New Zealand. Any suggestions or is this just something I have to be content with and pay $50 for every wire transfer?

Thanks.

[ivanyo]

Is there any of the large Aussie banks in New Zealand? (ANZ, CBA, WBC)

If forex trading is going to be a long term thing your life, probably worth opening up an account with them.

[TheLastBear]

Hi there, I am trying to find out what my best option is with regards to withdrawing money from my Australian broker(IC Markets and AxiTrader) to a New Zealand bank. From what I gather every time I do a withdrawal i get a fee of around $50. $25 from the Australian bank and then another $25 for the banks to receive it here in New Zealand.

Any other options out there to at least try and slash the fees down to half. I find $50 to be on the high side.

I’m with Kiwi Bank in New Zealand. Any suggestions or is this just something I have to be content with and pay $50 for every wire transfer?

Thanks.

Not sure if this is an option for you, but would an online payment processor help? Something like Skrill where forex brokers usually do not charge at all and you only face on fee for the withdrawal from (in this example) Skrill to your bank unless you have their prepaid debit card.