Ignorance is not bliss when it comes to remittance costs


remittance costs

All money transfers are processed for a fee – whether they are hidden or not. To be clear, the remittance costs have certainly dropped considerably since fintech companies such as OrbitRemit appeared on the scene

However, they have not yet managed to discover a way to facilitate remittance payments for free. Banks charge about 5% – 10% in transfer and FX costs and independent remittance companies usually perform them for about 1% of the total transfer value. Remittance costs have come down but now fees are often charged to the customer in non-apparent ways. Although it is not important to understand how your transfer is processed, it is important to understand the actual ‘conversion rate’ which is the amount received divided by the amount sent and its comparison to the interbank rate.


Commonly Used Money Transfer Terms

  • Posted by Joe Campbell on December 2, 2018 in Banking Global Money Transfer

commonly used money transfer terms

International money transfer, the process of transferring money overseas – has a language of its own. This article will help you decode the financial garble in order to make your global remittance easier

There are plenty of things to think about if you’re transferring money overseas. The most useful thing you can do is become familiar with the jargon you’re likely to hear, so here are the key international money transfer phrases and acronyms, decoded.


9 Questions to Ask Yourself Before Taking your Side Hustle Overseas


taking your side hustle overseas

By Kirsty Lamont, Money Expert at Mozo

From handcrafting soy candles to designing clothing from scratch, starting a small business online has never been easier. But whether you’re just starting out or have got the local market cornered, any business owner should always be planning their next step.

With online shopping booming around the world, you might be thinking it’s time you took your side hustle global. But before you break down borders, there are a few things to get on top of to help prevent a financial disaster and make your online business a success.


The Best Time to Send Money Overseas

  • Posted by Joe Campbell on November 20, 2018 in Global Money Transfer

the best time to send money overseas

When I was 19 and I was thinking about selling some shares to travel overseas, I called my father’s stockbroker and asked him, ‘So when’s the best time to sell my shares?’ He simply said: ‘When you need the money.’

I sold the shares and almost immediately afterwards the stock price almost doubled in price. I still regard this conversation to be some of the best personal financial advice I ever received. In 2000, the Dot.com bubble burst and those shares went to zero as the company went bust.


The Predictive Power of the Kiwi


predictive_power_of_the_kiwi_trading

Question: What do currencies say about an economy? Well that’s a trick question because the answer is everything and nothing at all

See, in today’s trading markets a currency means nothing unless it’s compared against another national currency (or perhaps the price of gold). When you compare a currency against another currency, not only can it be a potential indicator of economic strength relative to other economies, but it can also tell you the general global financial mood, the appetite for risk, the stage of economic cycle – both domestic and global, about the state of inflationary pressures and about other macroeconomic and environmental forces.


We will remember them. Why ANZAC Day is so important


ANZAC Day

You might have heard of Australian New Zealand Army Corps (ANZAC) Day, which is coming up on the 25th of April. It’s not just an excuse to eat oatey, golden-syrup biscuits though. In this article we’re going to give you a bit of a background into what ANZAC Day is all about.


Paying off your New Zealand student loan from overseas


student-fees-nz-aus

We’ve been there. Borrowing money for study is all fun-and-games until it comes time to paying it back! We’re here to give you a bit of a briefing on paying back your student loans. Plus, we’ll tell you how we can help.


8 things to consider *before* moving overseas


Moving to distant lands, whether for work or to seek adventure, can be one of life’s most exciting experiences. However, there’s no denying it can also be stressful at times. So, how can you ease the discomfort of the move so you can make the most of the experience?


What to expect from FinTech in 2018


Happy New Year! 2017 was a great year for FinTech (Financial Technology), but we have a sneaky feeling that 2018 is going to be even bigger and better. Here are just a few things you can expect from the industry in the year ahead.


Kiwi Christmas Traditions


It’s December now, so you’re probably hearing Christmas carols every time you walk down the street. Yes – it’s nearly the end of the year, so before we get there, we thought we’d look at some Kiwi Christmas traditions to get you in the Christmas spirit for the 25th of December!

The Christmas spirit is embraced by most Kiwi families. You might notice it in your workplace, around the shop front windows and on T.V and the radio. Some people love it more than others too. Often there will be that one person in the office that will wear their Santa hat every single day during December, even if it’s 25 degrees outside! Kiwis REALLY like getting festive. There are some essential Kiwi Christmas Traditions that you need to know about.