Bitcoin Forum

My brother-in-law has been awarded a fellowship to go study in New Zealand.  Naturally, I would like to help him get the best conversion rate possible for his dollars.  Also, he needs a little guidance on choosing a bank to keep his account with.  Can anyone from New Zealand suggest a bank?  Obviously, considering the state of the global economy, exposure to European debt in particular is a concern.  If there is some sort of FDIC equivalent that would cover the deposits of a foreigner that would solve those concerns.  Customer service is also important.  Also, he would like to set up the account beforehand so he can have is stipend deposited before he arrives.  I know that's not possible with US bank accounts (you need a physical US address to open the account), but I doubt the rest of the world has such a strict financial environment.  And finally, what are my options for BTC->NZD?  Tradehill can not withdraw as NZD.  Mtgox can, but there seems to be very little volume.  Is there a more liquid market I'm missing?

Hi there,

when I was over in NZ I chose http://www.nationalbank.co.nz/ However, I just opened the account when I was over. I'm not sure whether you can open an account if you're not there in person, I would doubt it but I'm not sure.
If you are based in Germany there are some very nice options of how to get your money there without being charged anything for it (we have a lot of banks who allow withdrawal with credit card for free - so basically you can convert money for free everywhere where you are). For the US I have little idea, though. If you want to sell BTC for NZD feel free to give me a shout - I might well be interested :)

Thanks for the info.  They still have a few months before they leave, but I may PM you when we get closer.  We'll probably only go the BTC route if we can do it cheaper than the 3-5% the bank charges.  I can afford to spend a little more for philosophical reasons, but they have a child so money is much tighter for them.