Case Studies

When bringing money over from a foreign country to New Zealand, the foreign exchange rate can significantly alter the amount of New Zealand dollars that end up in your bank account. World First can help in two ways:

We will provide a better foreign exchange rate than your bank.

We will offer you products to reduce the impact of adverse foreign exchange rate movements.

Immediate (Spot) Transaction

Mr. Wilson emigrated from the UK to New Zealand and had £100,000 to move over from the UK. He needed to make an immediate transaction (known as a "spot" transaction). He initially sourced an exchange rate from his bank and then compared it to an exchange rate he obtained from World First:

	Retail Bank	World First
Exchange Rate	2.6240	2.6735
Transfer Fee	£30	£0
Total Cost	$262,400	$267,350
Total Saving		$4,950

Forward Contract Transaction

On 20^th October 2008, Mr. Brown agreed to buy £100,000 of New Zealand $ with payment due on the 30^th December 2008. Between the 20^th October and the 30^th December 2008, the sterling to New Zealand dollar exchange rate moved from 2.8500 down to 2.4900.

The amount of New Zealand Dollars Mr. Brown would have received on 30^th December by booking a forward contract on 20^th October 2008 is $285,000. If he had not booked a forward contract and he took the prevailing rate on 30^th Decemebr 2008, he would only have received $249,000.

With the forward contracts we offer, you can have peace of mind knowing that irrespective of exchange rate movements, you will always have a fixed cost.

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