Money Transfer from Sri Lanka to New Zealand (Educational Purpose)

Member since 13 June 2016

RajitharanMember13 June 2016 14:52:08

Hello,

I'm currently in Sri Lanka. I've applied for a student visa and want to transfer my college tuition fees to the college's bank account in "Bank of New Zealand" and my living expenses to the "Australian New Zealand bank". I've asked around in the local banks and found out that they follow the exchange rate fixed by the Central Bank of Sri Lanka. Further each bank have varying foreign exchange rates (by one or two rupees) and service charges and to sum it all up it is very expensive. Last week my total fees was coming around 30,50,000 rs and now it has risen up to 32,00,000 because of the unreliable Sri Lankan foreign exchange system.
Back in India my friend transferred his funds through a company called "Centrum" (Private bank) and their exchange rate was based on xe.com and they charged only 30 cents(paise) per dollar and it was done without any complications.
Kindly advise me if there is a way to transfer my funds to New Zealand account without spending a fortune.
Any comment is welcome.

bookedout21 Member

Member since 07 May 2016

bookedout21Member22 August 2016 02:25:27

Do you have a friend in NZ who has PayPal attached to their bank account?
I've found sending money by PayPal to be a cheaper alternative.
I send money to my mum, who then sends money to my account lol. We both have Kiwibank so it's easy and quick.

sumith Member

Member since 12 February 2012

sumithMember16 December 2016 02:11:59

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