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Currency Fees KiwiSaver & Retirement Cash | Auckland News
Banks charge hidden currency conversion fees because they’re covering their own costs — the wholesale rates they use for big trades don’t apply to your everyday spending, which is why you pay more. With KiwiSaver, there’s no hard cap on contributions — you can auto-deduct up to 10% and add extra anytime — but whether it’s right for you depends on your full financial situation. If you’re retired, mortgage-free, with a couple million in property and $900K in cash, holding all that cash might feel safe, but inflation will slowly erode its value. Experts say it’s smart to invest some of that…
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