All Topics / Finance / Accessing deposit funds overseas

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  • Profile photo of oziozi
    Member
    @ozi
    Join Date: 2004
    Post Count: 262

    Hi all,

    I am heading to NZ next month and have stumbled across some finance questions. Well obviously if I do find a deal down there, I will need to take out a NZ loan. However, I would like to know how everyone accesses their finances when buying overseas (i.e. deposit + closing cost money). I am guessing I will need access to this immediately if I go unconditional on a property while down there?

    Do I need to open up a NZ bank account before going there and transfer the funds over so they are available? Should I open a NZ bank account when down there? What other options are there?

    I spoke to my bank today (CBA) and they were sort of lost [blink] The guy suggested I can take out a draft, like a bank cheque or something (?) which can be deposited anywhere, however will generally take about 5-10 business days to clear. I’m not sure this is a viable option.

    Would like hear how others do it?

    Kind regards,
    Ozi

    Profile photo of cbrennercbrenner
    Participant
    @cbrenner
    Join Date: 2005
    Post Count: 3

    CBA? Lost? Never!

    [biggrin]

    Regards,
    Christian

    “Just because you’re winning doesn’t mean you’re the lucky one.”

Viewing 2 posts - 1 through 2 (of 2 total)

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