FX rates are down?
- Posted by Blair Pedersen on February 18, 2019 in Global Economies Global Money Transfer
Foreign exchange rates, like all cyclical things in life go up and down
As a general rule, a currency’s valuation generally trends in line with the fortunes of the respective country but there are many other influences, the health of the global financial markets, the monetary policies of foreign central banks, natural disasters and so on. Due to these many factors country’s economic cycle cannot be predicted with absolute certainty and consequently trading currencies is a very difficult thing to do. Nobody has control over the direction of a currency, but everybody has control over their personal finances and so it is incumbent upon everybody remitting money overseas to ensure they are getting the most out of their money transfers.
Moving to Australia? Avoid these money faux pas!
- Posted by Blair Pedersen on February 18, 2019 in Immigration
By Ceyda Erem, Money Writer at Mozo
We do things a little differently down under – from vegemite on toast to sweltering beach Christmases. And that goes for some of our money habits as well. For example, you may never have heard of the post-pay service Afterpay, but this modern layby is big news on Aussie shores.
But that’s not all. We also have a few unwritten money rules that are important in many situations, from standing in line to heading down to the pub on a Saturday night. So if you’ve just moved to the land down under and are ready to get into the true blue spirit, here are some Aussie money faux pas to avoid…
The 3 best nursing homes to work for in Australia
- Posted by Blair Pedersen on February 15, 2019 in Immigration
The nursing home industry in Australia is growing at a rapid rate. This growth is set to explode in the coming years as an entire generation of Baby Boomers get ready to retire
Statistics made available in 2015 say there are 3.6 million Australians over the age of 65. This figure is projected to increase to 8.9 million or one in four Australians by 2055!
Moving to Australia? Bank accounts 101
- Posted by Blair Pedersen on January 24, 2019 in Banking Immigration Travel
By Tom Watson, Money Writer at Mozo
Moving countries, whether to study or for new work opportunities, can be both an exciting and daunting experience – especially when you’ve got to juggle travel arrangements, move your belongings and find a new place to live.
With so much to think about it can be easy to forget one of the first, and most important financial services you’ll want to set up as soon as you arrive in Australia: an Australian bank account.
Wellington Vs Melbourne: Which City is Better?
- Posted by Blair Pedersen on January 18, 2019 in Global Economies Travel
Wellington and Melbourne are often considered to be sister cities. They both have a similar vibe and both cities definitively beat Sydney. Melbourne’s population has skyrocketed due to internal and external migration and is due to overtake Sydney in size this decade. This rapid increase in population seems to be taking a toll as many local hipsters are moving away to Byron Bay.
Here are some quality of life and liveability results as determined by credibly researched and published city rankings:
5 South Island Adventures Every New Kiwi Should Tick Off In 2019
- Posted by Blair Pedersen on January 15, 2019 in Travel
Guest post by Breadcrumbs app
There are many things that define us as “kiwis” – from barefoot shopping to supporting the All Blacks, there are lots of building blocks that make up our cultural identity. Perhaps one of the largest blocks there is, would be a connection with the outdoors.
Kiwis are an “outdoorsy” bunch of people. Whether you moved to New Zealand last decade, last year or last week it is an inescapable reality that at some point you will find yourself looking for adventure in our great outdoors (also known as the “wops”). We are lucky in Aotearoa to have an abundance of natural serenity right on our doorstep, but sometimes it can be difficult to figure out where to go and what to do first. Luckily, our good mates from Breadcrumbs have put together a short collection to give you some inspiration for where to start!
The foreign exchange market in 2018, a forecast for 2019 and a message from the CEO
- Posted by Blair Pedersen on December 20, 2018 in Global Economies Global Money Transfer
In 2018, the Australian dollar has seemed to find some stability in October with it stabilising around 0.705 and then clawing its way back up since then to its current level at 0.72. The ‘aussie’ has been whacked by an appreciating US dollar, a Chinese economic slowdown and economic worries that there’s a bubble in the real estate market – a weighty concern expressed by the RBA
Against exotic currencies such as the Indian rupee, the Australian dollar has oscillated around the current level as it has done since 2016. Of note is the recent significant drop in the last few days due to foreign fund flows and a risk-off atmosphere. It remains to be seen if this is a sustained drop and a sign of things to come. It’s the same situation with Filipino peso and the Australian currency really hasn’t seen much movement against currencies like it. Though it has settled at its current level of around after falling about 2.5% over the first half of the year.
5 important financial services you need as a new immigrant
- Posted by Joe Campbell on December 14, 2018 in Immigration
Moving to a new country is always a time-consuming and often exasperating exercise. It may take months before your affairs are finally in order and years before you can feel ‘settled’ as a new immigrant. There are many things you’ll have to sort out such as finding a place to live, finding a school for the kids, finding employment, new friends, a club to continue your hobby, a car… the list goes on and on.
I get it; it’s challenging and daunting. However, one of the most important aspects to your new life that is overlooked or postponed are your financial affairs. Of course, getting a bank account ASAP is unavoidable, but there are other essential financial services you’ll need to seek as soon as you arrive and others that can wait though you’ll likely need at some point down the track. Below are five of the most important and they all require some research before a provider is chosen.
Ignorance is not bliss when it comes to remittance costs
- Posted by Joe Campbell on December 7, 2018 in Global Money Transfer
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
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.