Shopping overseas

[Big Shed]

With the current public debate on the woes of the retail industry as a result of people buying overeas via the internet, I was somewhat surprised to receive an email from the ANZ bank which (in part) said this:

Ever wanted to access big name overseas retailers that don't ship to Australia? By using your ANZ credit card online, in association with borderlinx, not only can you get delivery to your door, you still have the security of using your ANZ credit card.
Borderlinx - how does it work?
Watch the 90 second video clip, set-up an account at borderlinx.com (http://borderlinx.com/) and you're ready to start.
You can even join your items together with friends and family to ship them across in one order. The borderlinx website provides a breakdown of all costs including shipping so you know exactly what you'll pay.
So now the doors to the London High Street, New York's Fifth Avenue and the best Australian stores are open to you, from the comfort of your lounge room.

As one of the big 4 banks ANZ must have literally tens of thousands of retail business customers and I wonder how they view this email from their banker?

If I was a retailer and banked with ANZ I would seriously consider taking my business elsewhere.

[ColW]

If I was a retailer and banked with ANZ I would seriously consider taking my business elsewhere.

It's a fair comment and would be reasonable if said retailers sold Australian made/maufactured items, but if they source products overseas to exploit cheap
labor it would be a little hypocritical, that's the world we live in, and honestly I've
recently bought a few items, hand saws, saw blades, router bits, from the US
because of the strong exchange rate.

[artme]

Yes, the hip pocket nerve and a sense of loyalty are at odds here.

For those of us who are retired and on a limited oncome, the overseas shopping is extremely attractive.

Which brand of shoe is made in Indinesia? Is it Adidas?

Well no matter. They are made there for peanuts and could be launched to Darwin by a good arm.Yet we are expected to pay outrageous prices for them. When the retailers stop the rip offs perhaps attitudes and habits will change.

[Big Shed]

I have no problem with people shopping overseas, that is not the intent of my post. I regularly shop overseas via the internet for the reasons outlined above. In fact if you care to read through some of my posts you will find that I am an enthusiastic supporter of shopping overseas.

What I do have a problem with is one of the big 4 banks promoting and facilitating this shift away from shopping in Australia whilst serving as one of the main bankers for the very Australian retailers, their customers. Not only a conflict of interest but rather hypocritical in my opinion.

[artme]

True enough Fred. I was just sounding off.

Should have put the thoughts in "Nothing to do With Woodwork" as a new thread.:doh:

[Scott]

I'm a little with Bigshed here, what are ANZ's motives for promoting this? I do, however, shop overseas to obtain the best possible deal.

[Dan]

... what are ANZ's motives for promoting this?

Perhaps they want people to spend up on their credit cards so they can pay them more interest?

[damian]

I noticed another story into the investigation of collecting gst the other day. No conclusions yet but if it pans out the way I think it's going it'll lead to me spending MORE money off shore.

They are planning to streamline the collection of import taxes. Right now I don't go over the $1k because I'm not sure how much hassle it is to pay the tax. If that gets clearer/easier I'm more likely to buy big ticket items offshore. The 10% is neither here nor there, the savings are usually quarter to half the local prices.

As I've said before I'll pay a premium to buy locally and I'll pay a premium for good service, but very often the service isn't there and the premium is unreasonable.

I tried to buy a car radio for the boss last weekend. 2 days and a tour of brisbane to get the things I needed. Frustrating. I'll be spending this weekend installing it.

I think ANZ are only thinking of turnover, they probably see the retailers as captured market. Most small businesses need overdrafts and loans, they are probably hopelessly bound to their bank.

[fxst]

Also check out if they charge a transaction fee for foreign currency as the other big three do. I have a citibank card for all overseas transactions where paypal is not an option as they don't charge a fee for foreign transactions.
Pete

[kiwigeo]

I'm a little with Bigshed here, what are ANZ's motives for promoting this? I do, however, shop overseas to obtain the best possible deal.

What are ANZ's motives?? Making lots of loot for its share holders...like the other 3 major banks.

I'd bet that at least half the posters on this thread own shares in ANZ either directly.... or indirectly through a super fund.

[robbygard]

I noticed another story into the investigation of collecting gst the other day. No conclusions yet but if it pans out the way I think it's going it'll lead to me spending MORE money off shore.

They are planning to streamline the collection of import taxes. Right now I don't go over the $1k because I'm not sure how much hassle it is to pay the tax. If that gets clearer/easier I'm more likely to buy big ticket items offshore. The 10% is neither here nor there, the savings are usually quarter to half the local prices.

As I've said before I'll pay a premium to buy locally and I'll pay a premium for good service, but very often the service isn't there and the premium is unreasonable.

I tried to buy a car radio for the boss last weekend. 2 days and a tour of brisbane to get the things I needed. Frustrating. I'll be spending this weekend installing it.

I think ANZ are only thinking of turnover, they probably see the retailers as captured market. Most small businesses need overdrafts and loans, they are probably hopelessly bound to their bank.


good point ... i went over the $1000 ten years ago or so (on some sheet music) ... whilst it was still 50% of the local prices, the rigmarole to go through to pay the tax was a bit extreme ... i am sure you would get used to it if you did it often (and indeed some of the steps were one-off) ... when i phoned the help line they actually said: "i can't help you with that form it is too complex" ...

it transpired the help line staff were monitored for the length of their calls (which is another and different issue) and couldn't spend the length of time needed for the form on just one customer .... they did eventually help me by phoning back on an "unmonitored" line so as an individual was quite helpful ... it still took her over one hour including some time on hold while she checked elsewhere for information which i did not (and could not) have ... hopefully it is already streamlined a bit from then

like you i will try to shop locally within reason ... and that, to me, also means local to where i live, not just in australia

regards david

[Chris Parks]

I think ANZ's point is security. Banks cop a hammering for fraudulent transactions and it must cost them a lot of money so ANZ have looked at a way around it. Australia Post a looked at a similar scheme many years ago where you bought something then went into the PO to pay for it. It did not go ahead and was most probably killed off by CC companies non cooperation (just guessing there).