Milestone has negotiated a foreign exchange/currency conversion arrangement with one of Australasia’s largest foreign exchange specialists. Clients piggy back on the massive discounts that Milestone has negotiated and this enables clients to transfer funds or currency at often less than half the cost they would be charged by their local bank. Clients can set up their secure facility via the web.
‘This facility is more than just getting a better exchange rate and lower ‘spread’’, says Stephen Fitzjohn from Milestone (Wellington).
The facility enables clients to:
Peter Tetzlaff from Milestone (North) used this facility to transfer his funds from Germany to New Zealand. Peter indicated that the process worked flawlessly.
“The fluctuation in the Euro-NZ dollar exchange rate was 22% in the year I was doing it. I studied the market, picked a rate and locked in at that rate. No-one is ever smart enough to work out the absolute best time to move money but for me, it worked out pretty well and the saving in both picking an opportune rate and then receiving a conversion spread over 50% better than any bank could offer, saved me tens of thousands of dollars. The saving equated to the cost of buying a good second-hand car in New Zealand,” reported Peter.
“We don’t provide the actual advice on what rate to select or when to move the money,” said Richard Paynter from Milestone (Canterbury). “We leave that up to the experts in foreign exchange to discuss with our clients. We merely make available the wholesale facility so our clients can potentially get the best deal in the market. The whole process is simple, fast, low cost and secure. Our clients love it.”