Sending NZD from Interactive Brokers to New Zealand

[UniqueUserName]

Interactive Brokers have introduced some new restrictions so that I can't withdraw to my Kiwi bank account directly anymore.

So what's the best way to get the NZD back to New Zealand?

My bank is currently Citibank.


IB has the cheapest conversion rates. If I withdraw from IB to Citi as NZD then Citi doesn't seem to be setup to then transfer that NZD abroad: It expects to transfer HKD to NZD in the process.
So perhaps using a remittance company is more straightforward?
I guess I'll have to queue up at Citi and ask but to avoid that I wondered what geoexpat says. Usually some pretty knowledgeable people around here :-)

[redslert]

Citibank account supports NZD... you can just transfer from IBKR to Citibank keeping in NZD.
Then transfer NZD out from Citibank.
If you don't know how to transfer from Citibank then just call them up or send a message through internet banking.

[bdw]

Interactive Brokers have introduced some new restrictions so that I can't withdraw to my Kiwi bank account directly anymore.

So what's the best way to get the NZD back to New Zealand?

My bank is currently Citibank.


IB has the cheapest conversion rates. If I withdraw from IB to Citi as NZD then Citi doesn't seem to be setup to then transfer that NZD abroad: It expects to transfer HKD to NZD in the process.
So perhaps using a remittance company is more straightforward?
I guess I'll have to queue up at Citi and ask but to avoid that I wondered what geoexpat says. Usually some pretty knowledgeable people around here :-)

What is your signature verification method with IB? If you select Option 4 which is all online, you link your IB account to your HK bank account and then you cannot withdraw funds to other countries. But if you select option 1 -3, then you should still be able to withdraw to other countries. Option 1 means you need to visit IB office with your HKD card, option 2 is to mail them some certified copies of your documents, option 3 is to send them a cheque. So you should do one of these 3 options.