Money Matters: A Snapshot Comparison of Currency Exchange Rates

A couple of readers have recently pointed out that the exchange rate of Air New Zealand's OneSmart card is not as good as it used to be. I decided to take a look at how it compares with banks and other travel card options these days. [Added 8 May 2013: I also just noticed yesterday that the OneSmart fees schedule is changing  from 21 May, so have added a column showing the changes in the last table.] [Added 22 May 2013: And vented my displeasure at the lack of communication about the changes.]

Exchange Rates: an Unfair Comparison

In the table below, I have taken the exchange rates from the various websites at around noon on Thursday. I have left out rates for international money transfer, as that requires you to have a bank account in another country. I have also not considered Western Union rates, as their pre-paid cards do not appear to be available in New Zealand, and apart from being the favoured form of payment by scammers, I assume you would also need to have a foreign bank account, or go out of your way to visit an agent at your destination country.

I have highlighted the best exchange rate for each currency in green below.  These are rates for buying foreign currency with your NZD at the major organisations, and do not take into account any commissions or withdrawal fees which may be charged.

	One Smart	ANZ	ASB	BNZ	Kiwibank		Travelex		TSB
	25 April, ~12:05p.m.	25 April, 11:59am	25 April, 12:06p.m.	24 April, 16:42pm	25 April,  12:03pm		24 Apr,  11:30am		24 Apr, time not stated
	One Smart	Cash	Cash	Cash	Cash	Loaded™ for Travel	Cash (Online)	Cash Passport	Cash	Cash Passport
AUD Australian Dollars	0.7959	0.8128	0.8109	0.8139	0.8076	0.8162	0.806	0.806	0.8112	0.7962
GBP Great Britain Pounds	0.5353	0.5458	0.5446	0.5454	0.5424	0.5465	0.5366	0.5366	0.5445	0.5305
USD United States Dollars	0.8177	0.8344	0.8309	0.8325	0.8294	0.8364	0.8253	0.8253	0.8322	0.8208
JPY Japanese Yen	81.3450	82.84	82.2535	82.37	82.0470	82.6479	81.1824	81.1824	82.6786	79.6696
EUR Euros	0.6282	0.6395	0.6367	0.6378	0.6352	0.6398	0.628	0.628	0.6364	0.6226
CAD Canadian Dollars	0.8383	0.8579	0.8541		0.8485	0.8534	0.8347	0.8347	0.8547	0.8285
AED United Arab Emirates Dirham				2.9552			2.7969		2.5459
ARS Argentine Pesos							3.8538
BRL Brazilian Real							1.5452
CHF Swiss Francs		0.7921	0.7833	0.783	0.7786				0.7847
CNY Chinese Yuan				4.8805	4.7814		4.7659		4.6691
DKK Danish Krone		4.7104	4.7282	4.7547	4.7367				4.7462
EGP Egyptian Pounds					5.1345				5.0377
FJD Fijian Dollars		1.4598	1.4534	1.4419	1.4490		1.4237		1.4772
HKD Hong Kong Dollars	6.3486	6.4950	6.4419	6.4433	6.3660	6.4051	6.2393	6.2393	6.4794	6.2324
IDR Indonesian Rupiah					7664 .0373		7153 .8364		7393 .4198
INR Indian Rupee			44.3985		41.1603	40.8478	42.4691		43.6899
KRW Korea (South) Won				901 .57	841 .0558		865 .1645		819 .1501
MYR Malaysian Ringgit				2.4008	2.3915		2.3831		2.349
NOK Norwegian Krone			4.8963	4.9071	4.8864				4.9068
PGK Papua New Guinea Kina			1.6970				1.5628		1.5783
PHP Philippines Pesos			33.801		32.8944		31.5497		34.0472
SEK Swedish Krona		5.4399	5.4798	5.5111	5.4419				5.4723
SGD Singapore Dollars	1.0157	1.0387	1.0269	1.0292	1.0223	1.0314	1.0052	1.0052	1.0351	0.9965
THB Thailand Baht		23.7798	23.3873	23.50	23.1032	23.3298	22.2673		23.7778
TOP Tongan Pa’anga			1.3449	1.3457	1.3265		1.2683	1.2796
TRY Turkish Lira					1.3627				1.3119
TWD Taiwanese New Dollars					22.2885				24.2543
VND Viet Nam Dong					15631 .8624				13956 .5145
VUV Vanuatu Vatu					73.5993		70.0811		71.5479
WST Samoan Tala		1.8135	1.7792	1.659	1.7601		1.6578		1.6851
XPF French Polynesian Francs		74.97	74.9845	75.00			71.0793		73.2717
ZAR South African Rand		7.5299	7.5929	7.6517	7.4484	7.4606	7.1148		7.6647

As Thursday was a public holiday (ANZAC Day), some of these rates have not been updated since the day before. I therefore ran the numbers again yesterday morning, just before 8:30am.  The Travelex and TSB websites did not display refreshed numbers until later in the day, so to avoid using the same data as in the table above, I used rates from a later time.  It's also worth pointing out that I was not able to get all the rates at the same time for OneSmart, because I was viewing each currency manually.  By the time I had gone through the other currencies and checked HKD again, for instance, 1 NZD could be converted to 6.3685 HKD, rather than the 6.3696 HKD listed in the table below, which was from just a couple of minutes earlier.

	One Smart	ANZ	ASB	BNZ	Kiwibank		Travelex		TSB
	26 April, ~8:25am	26 April, 8:24am	26 April, 08:29am	26 April,  08:17am	26 April,  8:28am		26 Apr,  11:30am		26 Apr, time not stated
	One Smart	Cash	Cash	Cash	Cash	Loaded™ for Travel	Cash (Online)	Cash Passport	Cash	Cash Passport
AUD Australian Dollars	0.7968	0.8141	0.8145	0.817	0.8076	0.8168	0.8134	0.8134	0.816	0.8021
GBP Great Britain Pounds	0.5316	0.542	0.5423	0.5428	0.5424	0.5426	0.5363	0.5363	0.5419	0.5306
USD United States Dollars	0.8204	0.837	0.8383	0.8389	0.8294	0.8387	0.8351	0.8351	0.8393	0.829
JPY Japanese Yen	81.51	83.04	82.9395	82.97	82.047	82.8247	82.1944	82.1944	83.3479	80.5912
EUR Euros	0.6307	0.6421	0.6416	0.6422	0.6352	0.642	0.6353	0.6353	0.6413	0.6317
CAD Canadian Dollars	0.8372	0.8567	0.8565	0.8536	0.8485	0.8521	0.8401	0.8401	0.8564	0.832
AED United Arab Emirates Dirham				2.978			2.8301		2.5788
ARS Argentine Pesos							3.9007
BRL Brazilian Real							1.5475
CHF Swiss Francs		0.7926	0.789	0.7887	0.7786				0.7909
CNY Chinese Yuan				4.9119	4.7814		4.8161		4.7225
DKK Danish Krone		4.7295	4.7651	4.7885	4.7367				4.7826
EGP Egyptian Pounds					5.1345				5.099
FJD Fijian Dollars		1.4642	1.4658	1.4498	1.449		1.4373		1.48
HKD Hong Kong Dollars	6.3696	6.5152	6.4991	6.4935	6.366	6.4229	6.3137	6.3137	6.535	6.2958
IDR Indonesian Rupiah					7664 .0373		7233 .789		7479 .0676
INR Indian Rupee			44.6721		41.1603	40.7135	42.8084		44.0426
KRW Korea (South) Won				902 .09	841 .0558		869 .2693		823 .511
MYR Malaysian Ringgit				2.4028	2.3915		2.3949		2.3612
NOK Norwegian Krone			4.9	4.9086	4.8864				4.9077
PGK Papua New Guinea Kina							1.581		1.5972
PHP Philippines Pesos			34.0844		32.8944		31.8249		34.2285
SEK Swedish Krona		5.4553	5.4978	5.5236	5.4419				5.484
SGD Singapore Dollars	1.016	1.0391	1.0341	1.0347	1.0223	1.0313	1.0149	1.0149	1.0424	1.0056
THB Thailand Baht		24.0471	24.113	23.97	23.1032	23.5503	22.8464		24.3101
TOP Tongan Pa’anga			1.357	1.3561	1.3265		1.2833		1.2952
TRY Turkish Lira					1.3627				1.3278
TWD Taiwanese New Dollars					22.2885				24.5463
VND Viet Nam Dong					15631 .8624				14126 .4372
VUV Vanuatu Vatu					73.5993				72.4979
WST Samoan Tala		1.819	1.7952	1.6719	1.7601		1.677		1.705
XPF French Polynesian Francs		75.28	75.5565	75.54			71.894		74.1345
ZAR South African Rand		7.5277	7.5567	7.6146	7.4484	7.4618	7.1077		7.6671

As you can see, there isn't one outright winner.  Depending on the currency you want to purchase, and the time at which you are checking the rates, your choice could swing one way or another.  Just because a certain business offers the best rate doesn't mean it is necessarily the best option either, because it could come with high fees that outweigh the rate advantage. Or it may not be suitable because you need to wait for the currency to be ordered, when you are in a hurry to get the money.

Which Form of Payment?

Banks generally charge a 1% commission for changing foreign currency, with a minimum fee.  It's always useful to have some cash on hand before going to another country, but you may want to have another form of payment to avoid carrying large wads of cash around, and for paying for higher value and/or online purchases.  You can, of course, use a credit or debit card linked to your bank account, which is a very convenient option.  But this often comes with high fees for cash withdrawals and currency conversions, which you might be able to bypass by using a multi-currency travel card.  You may also want to use a standalone travel card in case it gets stolen, or to make sure you don't spend too much.

Form of Payment	Pros	Cons
Cash	Money is right there; no need to look for an ATM You can request smaller notes when getting your money changed, useful for smaller purchases Cash is accepted everywhere, including at roadside stalls At certain stores, you may go into an express queue if paying by cash	Need to collect cash from bank or money exchange location Cannot make online purchases, e.g. top up mobile credit from home No recourse if your money is lost or stolen, or at least it may be difficult to prove how much you had
Credit Card	Convenient; no need to plan ahead No need to set aside funds in advance; money potentially earning interest at a bank if not used Can be replaced if lost or stolen May offer rewards for purchases	High fees, particularly for cash withdrawals Cannot know exchange rate ahead of time Card may not be accepted for smaller purchases, or merchant may charge a fee for its use
Travel Card (Multi-Currency Debit Card)	Can "lock in" exchange rate Standalone card with no link to your bank account could provide peace of mind Potentially lower fees and/or better exchange rates than credit cards Can be replaced if lost or stolen May offer rewards for purchases	Requires research and planning, e.g. understand concept of wallets, must load money before using the card, take steps to avoid fees Complicated fees structure For longer trips, you will want to make sure you have internet access to manage your funds Card may not be accepted for smaller purchases, or merchant may charge a fee for its use

A Closer Look at Travel Cards

I only know of three main travel card options, which I have included in the table of fees and limits below (please check the official websites to confirm these have not changed).  Kiwibank's Loaded for Travel card appears to have the best exchange rate, but is also the only travel card to charge $6 for every ATM withdrawal, and has a higher fee for loading money onto the card, assuming you are loading more than $100. You will not be issued a new card once it expires, so you would need to pay another $12 setup fee for a new one. Air New Zealand's OneSmart card is the only one which is free to obtain and rewards purchases on the card (bonus Airpoints Dollars), but is also the only travel card which does not offer you a secondary card for the same account, free or otherwise [Added 8 May 2013: looks like this may be offered at a later date].  Travelex's Cash Passport has higher limits than the others, though that is not necessarily a good thing.

	OneSmart		Loaded For Travel	Cash Passport
Card type	Mastercard		Visa	Mastercard
Promoted by	AirNZ		NZ Post	Travelex
Issuing Bank	BNZ		Kiwibank
Fees (changes to OneSmart fees effective from 21 May 2013 highlighted in red below)
Setup fee	$0 (you can join Airpoints for free using the promo code JOINAP)		$12	Dependent on agent
Secondary card fee	N/A	$10	$0	$0
Load/Reload fee - bank transfer	$1	$0	1% of the amount loaded, up to $10	$1
Load/Reload fee - via agent	$3.95	$4	1% of the amount loaded, up to $10	The greater of 1% of the initial load / reload amount or NZ$10.00
ATM balance enquiry	$1		$1	not mentioned
ATM cash withdrawal - in NZ	$1.50	$2	$6	$2
ATM cash withdrawal - international	$0	$0 for first three withdrawals per month, thereafter NZ$3 or similar values in other currencies	$6	$0
Branch withdrawal fee - cash over the counter	N/A		$6	$10
Currency Conversion Fee - unsupported currencies	2.50% (not charged although listed in fees)	2.50% (enforced)	2.50%	5.95%
Currency Conversion Fee - insufficient funds in wallet	0.00%		0.00%	5.95%
Monthly account fee	$1.95 unless money loaded, or no money in NZD wallet	$1, even if money loaded. Fee taken from other wallet if insufficient NZD	$0	$0
Monthly Inactivity fee	$1.95, after 3 months	$0 (now covered by monthly account fee)	$1, after 12 months	$4, after 12 months
Email alerts fee	$0		$0.05	N/A
TXT alerts fee	$0.10		N/A	N/A
TXT service fee - balance enquiry	$0.10		$0.50	N/A
Card replacement fee	$12.95	$10	$10	$0
Express delivery fee	$25		$15 - $30	N/A
Paper statement fee	$9.95	$10	N/A	N/A
Disputed transaction fee	$9.95	$10	$15	not mentioned
Closure/Transfer fee	$9.95	$10	$15	$10
Limits
Max load amount	$10,000		$9,500	$25,000
Max load per day	N/A		$9,500	$25,000
Max balance across all currencies	$10,000 (online verification), $25,000 (verification in person)	$75,000 on application	$20,000	$75,000
Max withdrawal amount	$1,000		$1,000	N/A
Daily max withdrawals and purchases	N/A		$5,000	$15,000
Daily cash over the counter limit	N/A		N/A	$400
Daily max ATM withdrawal	$1,000		$2,500	$3,000

[Added 11 May 2013:

My Latest Experience with the OneSmart Card

Cash vs. OneSmart

On 29 April, I was quoted a rate of 6.5251 for changing HKD cash at TSB (this rate remains active until the next morning). Since this was much better than the rate on OneSmart (which was around 6.37), and I always like to have some cash on hand, I walked in to their Queen Street branch and changed another 6,000 HKD, even though I had already loaded money on my OneSmart card. This cost me 928.73 NZD: 6000 / 6.5251 = $919.53 in straight currency exchange, plus 1%, or $9.20 in commission.  You could say that this had an effective exchange rate of 6000 / 928.73 = 6.4604. I left my money as NZD on OneSmart, in case I chose not to spend it overseas, but on groceries at home instead.

On checking in to a hotel a day later, I was given the option of paying in cash, or by card.  The OneSmart exchange rate at the time was 6.3531, so a room costing 700 HKD would cost 700 / 6.3531 = 110.18 NZD.  Since I would earn 1% of the value spent overseas, or $1.10, in Airpoints Dollars, I calculated the effective exchange rate as 700 / (110.18 - 1.10) = 6.4173.  Not as good as the rate I had from TSB.  I chose to pay in cash, which was a good thing, as we ended up leaving the hotel early.  Getting payment back in cash is much better than having a pending transaction trapped in your OneSmart card, because you can spend the money again immediately.

The exchange rate on OneSmart did go up to 6.40xx a couple of days later, which would have yielded an effective exchange rate of something like 6.4641 for overseas purchases (but not ATM withdrawals).

At the start of my trip, I was able to have much better exchange rate from a bank than from the OneSmart card.  However, if the exchange rate was going to keep going up, using the OneSmart would have allowed me to change money at a later point in time, when the exchange rate was better (but, not having prophetic powers, it could have been even worse as well).

Credit card vs. OneSmart - purchases in-store while overseas

The thing with credit card exchange rates is that they are not published anywhere, so it is difficult to know in advance whether they are worth using, other than for the obvious convenience factor.  To compare the rate of my Visa credit card against OneSmart, I looked at transactions that were made at a similar time.

While I was in Hong Kong last week, I went clothes shopping (the shops were open till midnight or 1am!).  At one shop, I made the payment on my Visa credit card at 23:20 on 5 May.  The 998 HKD was converted with an exchange rate of 6.5831 to 151.60 NZD.  On top of this, I had to pay an Offshore Service Margin of 2.1%.  I calculated this to be 0.021 * 151.60 = $3.1836, but this was rounded up to $3.19 in my statement.  In total, this purchase cost me 151.60 + 3.19 = NZ$154.79, which I considered as having an effective exchange rate of 998 / 154.79 = 6.4474.  (I am not considering rewards in this section, as I am assuming credit cards and OneSmart both offer rewards of 1%, though this may be different depending on the type of credit card you have.)

For a smaller purchase across the road, I used my OneSmart card at 23:58, also on 5 May.  This time, a 179 HKD purchase was converted to 28.18 NZD, giving an effective exchange rate of 179 / 28.18 = 6.3520.  Even without further fees, this was worse than using the credit card.

To be sure, I checked again on another day, when I had purchases on the two cards within a couple of hours  of each other.  This time, what I call the effective exchange rate was 6.4378 and 6.3910 for Visa and OneSmart respectively.  Again, the Visa credit card had a better exchange rate, even after taking the Offshore Service Margin into account.  If you consider how much easier it is to use a credit card (no need to load money in advance) and the fact that you have a one month grace period before you have to pay that debt off, the credit card is superior these days.

Credit card vs. OneSmart - obtaining cash from ATM while overseas

So what if you have run out of cash, and need some more?  Using the same rates as above getting 1,000 HKD in cash from an ATM using a credit card would cost you 1000 / 6.4474 = 155.10 NZD using your Visa card, and you would need to pay a fee of $7.50, so a total of 155.10 + 7.50 = $162.60.  Don't forget that for cash advances, interest is payable immediately, rather than having the one month grace period that purchases offer.

In contrast, using your OneSmart, the same amount of foreign currency would cost you 1000 / 6.3520 = $157.43.  With the new fees kicking in from 21 May, you would have to pay an extra 20 HKD for the international withdrawal if this is your fourth withdrawal in the month.  In this case, it would cost you 1020 / 6.3520 = $160.58.

In either case, the OneSmart is better for overseas cash withdrawals than my Visa credit card.

---

In the past, I have found the OneSmart to be an excellent solution for travelling with less cash.  However, as various people have pointed out, its exchange rates are poorer these days, and its fees are changing as of 21 May 2013.  While the OneSmart is still good for withdrawing cash overseas, for a shorter trip to a developed country, I would now rely on getting cash out from a bank in advance, then making purchases on my normal credit card, but perhaps for a longer trip to a destination where you feel less comfortable with carrying cash and where credit cards are not widely accepted, you may choose to go for a travel card solution.
]
As usual, different options each have their own advantages and disadvantages.  You will need to evaluate your intended spending behaviour to find out what would work best for you.  Good luck, and happy travels!

Waiting for Gordon

Today I did something totally irrational.  I bought a cookbook (I generally never read such things again after flicking through a few times), and queued for two hours to see the author.  That's right, Gordon Ramsey is in town.

Gordon at his book signing at Paper Plus Newmarket today.

People usually associate the man with swearing and abuse, but I have really only watched Kitchen Nightmares and found him to be genuine and helpful to restaurant owners in distress.  And he is just spot on with his advice.

With the title of his latest book being "Ultimate Cookery Course" (which sounded like I would learn something rather than just getting a book of recipes), the promise of a signature from the celebrity, and the chance to win a fancy dinner cooked by the man himself, I absconded from work to wait in line.

Finally got to Broadway after over an hour of queuing!

And what a wait that was!  The security guards at the entrance to the shop suggested that I buy a book first, so I went into the store and made my way to the counter, before joining the queue for signings.  It was only afterwards that I realised I could have joined the queue immediately, because there was a man there with a mobile Eftpos machine, carting a stack of the books around!

Although the signing session was supposed to be from 12 to 1pm, there was little movement in the queue until the celebrity chef presumably turned up at 12:50pm.  Twenty minutes later, I made it onto Broadway (the queue went from this street around the corner), and began to hope I would get my turn soon.  At 1:30pm, someone from the ZM radio station announced the winners of the dinner with Gordon, and ten minutes later I was inside!

Queuing inside Paper Plus Newmarket.

At 1:50pm, just as I was getting close to the table, the queue was suddenly cut off in front of me.  Gordon's signing hour was up, and everyone behind the arbitrary position would have to leave.  We were naturally outraged!  What?  You tell us this after we have waited two hours already?  And spent $50 on his book (or $100 in my case, as I got an extra one as a gift)?  After having been videoed waiting in line, and advertised to by opportunistic promo girls?

I refused to leave, and watched as the last of the lucky ones made it to the table.  Gordon, perhaps unaware of the situation, chatted cheerfully to each person, asking one about their studies, noticing another was their friend.  As soon as he was done, those of us behind the cut-off mark who did not already leave in disgust cried out for him to sign our books also.  He laughed and agreed, while the book store staff laid down the rules: no messages, no photos, just signatures and out the door.

It was an expensive price to pay for an illegible scrawl, but, well, I got my prize!

It's supposed to say "To Nom Nom Panda", but...

Magnum Pink and Black, Heartbrand Icecreams Around the World, and the Power of Marketing

Marketing really works.  We're not the type of people who walk down the icecream aisle in the supermarket—the boxes tend to sit in our fridge, just taking up space and getting more and more frosty—but we went and spent $14 on those new limited edition pink and black Magnums the other day.

Huge billboards at major intersections.

As soon as we started seeing the advertising for these new products a month or so ago, on giant billboards as well as in dairies and bus stops, we just had to give them a go. How's "Marc de Champagne" for an exotic sounding flavour?  And wouldn't "Black Espresso" be just absolutely decadent?

Sandwich board outside a local dairy.

These icecreams also happened to be on special at our local supermarket, which sealed the deal.  We took home a beautiful black box (nice and flat for easy storage in our freezer) for something like $7 for four sticks.

Magnum black: espresso flavour.

The design was a delight to behold.  Inside the sleek box sat the individually-wrapped portions. When you open one of the foil packets, you notice that the wrapper has a gold lining, and the icecream has an "M" proudly stamped onto one side.

Unfortunately, the flavour was rather underwhelming.  The overriding taste was that of the dark chocolate coating, which is similar to eating Whittaker's 72% dark ghana.  In order to experience the icecream inside, you needed to remove the outer layer first.  Then it is pretty much just your usual icecream with a few swirls of coffee, light in colour as well as flavour.

Did this stop us wanting to try the pink version? Not at all. The fruit and vege shop down the road sells single servings, so we thought we would just have one each, rather than a whole box.  Turns out they were $3.50 per portion, so we might as well have bought the box for the price of our two icecream sticks.

Single servings of Magnum Pink and Black at a local vegie store.

These pink beauties have a slick of edible metallic paint on the outside (a "pearlescent pink coating" according to the label), which comes off on your fingers, a bit like eye shadow.  They looked amazing, but again, under that gorgeous exterior, they didn't really taste like very much.  I certainly would never have guessed "champagne" if I hadn't been told beforehand what flavour to expect.

If Magnum's Facebook page is anything to go by, others have been less than impressed too, but clearly someone likes them, and now we can't go anywhere without noticing the signage.  The advertising pops up at the major intersections and busy areas, including:

• Balmoral Road and Dominion Road junction
• Sandringham Road shops
• Newton motorway onramp
• Ellerslie-Panmure highway
• Newmarket, corner of Khyber Pass and Broadway
• Newmarket, Khyber Pass motorway on-ramp
• Fanshawe Street, on the way from the central city to Victoria Park

We have probably seen the billboards in other places too, not to mention the signage at practically every dairy.  That marketing budget must have been huge!

Bus stop outside our local supermarket.

I have to admit I have a fascination with the Heartbrand in general. Owned by Unilever, it is known as Streets here in New Zealand and Australia, but has many names around the world, from Lusso in Switzerland to Good Humor in North America and China.  With such a global brand, I should probably have been less surprised that the pink and black icecreams are not made in New Zealand, but in Germany and Hungary respectively!

Heartbrand signage from my travels: (from left to right, top to bottom) Argentina, France, UK, and Turkey.

These new products are not bad, just not much more exciting than the other Magnum flavours. I am amazed by how much advertising Unilever is putting into them, but then again, we ended up purchasing something we would normally not have, and I am writing a blog post about it! Marketing works, and the company knows it.

Mexican Meal @ Social Cooking

Tortilla soup and churros?  I like the sound of that!  When a friend was not able to make it to a Social Cooking class they had bought a daily deal for, I jumped at the chance to try it out.

The ground floor kitchen on Nelson Street is not a place you would normally walk past, but you have a good view of the beautiful space from the street. Despite the website stating "Please arrive 15-30 minutes prior to the class starting as the demonstration starts smack on time" though, it was not entirely to schedule. No, this is not a class with a focus on speed or skill acquisition.  It is about cooking as a social event, and as such, it runs at a rather leisurely pace, to give you a chance to chat to your fellow students.

View from the street, while waiting for the class to begin.

We wandered in and stood around looking confused for a while, then we were greeted, and marked off the attendance list. "Now, a glass of bubbly is included with your deal.  Would you like to have that, or would you rather drink something else?  We have wine, beer, non-alcoholic drinks..."  The staff member took our order and promised to bring our drinks and name stickers around.

Cutlery hooks are very appropriate for hanging aprons.

The cooking demonstration started about 10 minutes late.  Fortunately, there were little packets of bagel chips on the table, so if you were already needing a bite, you could stave off your hunger a little.  The instructor cracked jokes and set a conversational tone, telling us about growing up in Goa and working on cruise ships. It was an entertaining show, but you couldn't help but notice the product-pushing.  We were working on induction cooktops from Electrolux, all the spices were from Gregg's, the frozen skinless chicken breasts were from Tegel's, and so on.

If you are anxious about cooking, this is the class for you.  The recipe is dead easy, put together with things things you can buy from the supermarket, and everything is measured out for you already.  You don't even have to crush your garlic, because there is a jar of Gregg's minced garlic waiting on the table.  Just in case you didn't know how to chop your onions though, the instructor takes you through the proper technique. (I disagree with his assertion that red onions make you cry more than regular brown ones though.)

While we were shown how to make the tortilla soup, a staff member also ran a food-related quiz, asking for instance how pizza margherita got its name, or what the original flavour of Twinkies was.  We got to take nibbles of the deep-fried tortilla strips, then sample the finished soup, watch the churros being made, and taste that too, before we were let loose to have a go ourselves.

Tortilla chips fried while cooking the rest of the ingredients. This space is actually for four couples.

It's a good thing we did not have to work in groups of more than two, because the bench space was feeling pretty crowded already, though we are used to working in a small kitchen.  It was our first time using an induction cooktop, and we were amazed at how quickly it heated food up.  However, we struggled with the touch controls, which didn't really want to respond to our frantic pressing and swiping most of the time.

Our sopa de tortilla.

We didn't want to have boiled chicken (okay, "poached" sounds somewhat better), so we modified the recipe a little and cooked the flesh on dry heat.  We followed the serving suggestion though, and wish we hadn't, because the fried tortilla strips went soggy pretty quickly in the hot liquid.  We would definitely have the chips sitting on the side or just on top next time.

To be honest, given the simple ingredients of this dish and the quick and easy steps involved, it was surprisingly tasty (apart from the frozen chicken breast which we overcooked).  And it looked impressive too, with some vibrant colours.

The staff cleaned up after us while we ate our meals, then after some more relaxing time (and offers of drinks), we were in the kitchen area again to make our dessert.  There were nine couples in the class, and only two deep fryers, so you can imagine we were hurrying through to make sure we got to one first.  We didn't manage to make our churros crisp, but they were delicious anyway, served with spiced hot chocolate (from Tio Pablo) or just sugar and cinammon.

Our churros weren't pretty or crispy, but they were good anyway.

Overall, we had a good meal (the portion sizes were huge too).  It was the first time we had used an induction cooktop or deep fryer, not to mention the first time we have tried to make tortilla soup and churros, and it's always good to try something new.  We found it hard to keep our interest levels up though, because of the slow pace of the class.  We are just not as good at making small talk with strangers as other people are.

This course is suited to beginners, and we wish this was clearer on the website.  For the price that we paid, even at the discounted rate of $100 for two people, we expected something a little more gourmet than food from a packet.  We would have loved to have been given a chance to make our own tortillas, for instance, or to mince our own garlic.

We were also not too impressed by the knives (blunt by our standards anyway) or the state of the deep frying oil (canola oil which was already dark brown before our class).  To add insult to injury, we were charged an extra $21 for the two glasses of wine we drank, one of which we had assumed would be included in the price we paid, as a replacement for the bubbly.

Although we were disappointed by the level of cooking in this class, it is likely that other classes will be more interesting.  A friend told me that she went to one for pork and fennel cannelloni, and they made the pasta from scratch.  Likewise, if you went to this with the intent of meeting people while doing something fun, you will get more out of it than if you were expecting some sort of masterclass.

We wouldn't pay full price for this event, but we did have an enjoyable evening trying a few new things. We might even make tortilla soup and churros again, now that we know how easy that can be!

This post is part of Our Growing Edge, a monthly blogging event aimed at inspiring us to try new things.  This month it is hosted by Genie from Bunny. Eats. Design.

Review: Best Ugly Bagels

The secret to success is clearly not in giving your customers what they want, or think they need. I never needed a smartphone until I got one, and now I can't live without one.  Similarly, Auckland never knew it needed an oyster bar until Al Brown's Depot came along, and his latest venture, Best Ugly Bagels, fits into the same category.

"King" bagel (lox, capers, red onion and cream cheese).

In a way, you could see it coming.  The trend these days is towards simple, well-executed food in an informal setting, where you can feel at ease and just drop in for a bite of something delicious.  It's not really surprising that Best Ugly Bagels has a queue going out the door of its open kitchen.

Fortunately, I first turned up on Tuesday, on the morning of the bagelry's official opening day, before the hordes of customers arrived.  I was warmly invited to step into the kitchen area, and the head baker took me through the bagel-making process, even getting their consultant from Montreal, Steve, to demonstrate how they hand-roll the dough into rings.

The team in action.

Naturally, the first question that came to my lips was "So how are Montreal bagels different from any other bagels?"  Apparently, these are different from American bagels because they are rolled thinner, and contain no salt.  Best Ugly's hand-shaped  bagels—so called because of their rustic, uneven look—are then cooked in a pot of water with honey, before being baked in their wood-fired oven. I was handed a sesame-coated one, just pulled from the heat, and it was softer and sweeter than other bagels I have eaten, with a beautiful shiny and golden crust.  It tasted and smelt fantastic.

The team didn't let me leave without making me a completely new bagel for free.  Yes, with whatever filling I wanted!  How's that for a pleasant surprise?  Of course I honoured my promise to return with others for lunch.

"Yodi" bagel (pastrami, Swiss cheese, and pickle), and "PB&J" (Pics Peanut Butter and Te Horo jam).

Although a fresh bagel is amazing on its own, the highlights of the menu are the non-vegetarian fillings.  The pastrami and cured salmon are both made using a secret recipe unique to the bagelry, though they are happy to share the fact that the salmon comes from The Salmon Man (farmed in Stewart Island) and the pastrami is produced by Karl Campbell in Wellington.

I wish there were a few more filling choices, maybe the offer of a side salad, and also more seating, but this converted warehouse is well worth visiting just the way it is.

Panda Recommends

Best Ugly only has three kinds of filled bagels—quality over quantity! Don't be tempted to cheap out and just get one with spreads. They are good too, but you would be missing out. You can also get some bagels to take away to eat with your own favourite toppings.

Mains: "King" bagel with lox (cured salmon), capers, red onion and cream cheese ($12.00), "Yodi" bagel with pastrami, Swiss cheese and pickle ($10.00)

Vegie Pandas
There is one filled bagel you can eat, the "TAB" with tomato, avocado and basil ($8.00).

Menu

Note

If you don't specify which type of bagel you want (sesame, plain ugly, poppy seed, or cinnamon and raisin), you will get the sesame one by default.  They won't ask you.

Although it looks like there is nowhere to sit, the tables outside Shed Five are shared.  You will still need to wait for your bagel to be made before sitting down though.  This is not a table service kind of place.

Oh, and you really need to eat these on the day they are made, unless you have kept the bagels in the freezer.  Just like baguettes, they will go hard and dry if left out.

Restaurant Details

Best Ugly Bagels
Shed 3, City Works Depot, 90 Wellesley Street West, Auckland
(09) 366 3926

Opening hours:
Mondays to Sundays 7am - 3pm

The queue moves quicker than it looks at Best Ugly, but be prepared to wait and/or  take your bagel away.

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