International Money Transfers

[promaori]

Hi everyone,

I have recently begun my mining endeavours and have intentions on transferring my hard earned bitcoins into my currency. Can anyone offer some tips on money transfer from bitcoin to USD using MT. Gox, then from USD to my currency? I have thought about creating a US bank account, but unsure of how much currency loss is due to fees from such a painful method of trading currencies.

[riX]

Hi everyone,

I have recently begun my mining endeavours and have intentions on transferring my hard earned bitcoins into my currency. Can anyone offer some tips on money transfer from bitcoin to USD using MT. Gox, then from USD to my currency? I have thought about creating a US bank account, but unsure of how much currency loss is due to fees from such a painful method of trading currencies.

You can withdraw directly from mtgox to your bank account, your bank will automatically exchange it for the currency your account is denominated in. Check with your bank for conversion fees.
What country are you in?

[promaori]

New Zealand. And also, how do I go about this?

[riX]

Get the IBAN number from your bank, click withdraw @ mtgox and follow the instructions.

[lord bookington]

Hey promaori, I could have guessed you were NZ with that name, Im a student at Otago and have been looking into the problems associated with getting USD in Mtgox back into NZD.
this site might help http://www.peopleplusideas.com/post/6313692656/bitcoin-and-australia

Plenty of fees attached!

Or.... If you were looking at selling some bitcoins I would love to take some off your hands... good ol' studylink.
send me a message if your keen

-Bookington

[foo]

Get the IBAN number from your bank, click withdraw @ mtgox and follow the instructions.

New Zealand does not use IBAN.

[promaori]

Hey promaori, I could have guessed you were NZ with that name, Im a student at Otago and have been looking into the problems associated with getting USD in Mtgox back into NZD.
this site might help http://www.peopleplusideas.com/post/6313692656/bitcoin-and-australia

Plenty of fees attached!

Or.... If you were looking at selling some bitcoins I would love to take some off your hands... good ol' studylink.
send me a message if your keen

-Bookington

I have done a little research, and there is a way to do it. Using MT Gox, you can do a USD to EURO direct deposit by supply details to a Foreign Currency Call Account with BNZ. Talk to your bank regarding the specific details of this account. But Telegraphic transfers are the way to go. They have information about this all on their website. I'm sure other NZ banks offer the same services.

Get the IBAN number from your bank, click withdraw @ mtgox and follow the instructions.

New Zealand does not use IBAN.

BNZ have a holding IBAN which, if you supply the details to the sender e.g. MT Gox, they can deposit the money into this account. The details which you give vary among accounts.

[lord bookington]

That seems a lot easier, I will look into that in more depth once Mt Gox is up and running again. I wonder if it would work for deposits into Mt Gox, I was looking at going through Technocash before this, however a 5% fee isnt really that appealing