access to your money from Aus.
Oct 22nd 2005, 10:36 pm
#1
NEO LIVES
Thread Starter
Joined: Dec 2004
Location: ADELAIDE
Posts: 929
access to your money from Aus.
How and what is the easiest way to access you money from a UK account when you arrive in Aus...??
Can you leave the money in the UK and give your bank instructions that you will be accessing and transferring it from/to Aus.??
i.e. deposit your house sale money in the UK bank then transfer it to your new Aus. bank when you open an account..??
Can you leave the money in the UK and give your bank instructions that you will be accessing and transferring it from/to Aus.??
i.e. deposit your house sale money in the UK bank then transfer it to your new Aus. bank when you open an account..??
Oct 22nd 2005, 10:44 pm
#2
BE Site Lead
Joined: Aug 2004
Location: MA, USA
Posts: 92,170
Re: access to your money from Aus.
XE.com is one of the best places to transfer large sums of money, it's a pain in the arse setting up ,but plenty of people are happy with the results.....there's also hifx.com
Oct 22nd 2005, 10:47 pm
#3
NEO LIVES
Thread Starter
Joined: Dec 2004
Location: ADELAIDE
Posts: 929
Re: access to your money from Aus.
Originally Posted by Bob
XE.com is one of the best places to transfer large sums of money, it's a pain in the arse setting up ,but plenty of people are happy with the results.....there's also hifx.com
Oct 22nd 2005, 11:08 pm
#4
Joined: Jan 2005
Location: Asia Pacific
Posts: 4,922
Re: access to your money from Aus.
Originally Posted by CORKER
Do you really save loads of money using these guys or is it just easier to use your own bank..
My UK bank offered the worst rate out of all the options, commonwealth migrant banking next and lastly the highest was offered by the brokers such as Hifx.
However - may I suggest that you consider www.tranzfers.com - the rates a very very good and you can transfer for the money via internet banking with your uk bank, do the transfer on line montoring rates etc and generally sit back whilst the money goes into your australian account. You can do small amounts as well as large.
Generally well regarded on this board I think and I have just uesd them and they gave me a much better rate than commonwealth.
Hope that helps.
Oct 22nd 2005, 11:30 pm
#5
BE Site Lead
Joined: Aug 2004
Location: MA, USA
Posts: 92,170
Re: access to your money from Aus.
Originally Posted by CORKER
Do you really save loads of money using these guys or is it just easier to use your own bank..
http://britishexpats.com/forum/showthread.php?t=331972
Last edited by Bob; Oct 22nd 2005 at 11:33 pm.
Oct 23rd 2005, 12:50 am
#6
sunshinesarah
Joined: Oct 2005
Location: Buderim, Sunshine Coast, Queensland
Posts: 203
Re: access to your money from Aus.
We arranged a power of attorney (my mum) who could basically do anything with our account. We had a bond that was not due to mature until after emigarting so she did that for us when we were here.
The one big thing we found was how much the exchange rate affected the transer. We explored the net and checked out the exchange rate for the last 5 years. We were doing to leave money in the Uk for a good 6 months but decided to bring it sooner. Turned out to be a good move as moving the money earlier gave us an extra $30k or something which paid for 2 cars.
You can register with stock market dealers who, once you decide to use them, just take a nominal fee - a few hundred quid - then call you with an 'offered' exchange rate and ask if you want to do it that day or not. It's all a bit nerve wracking and a bit like gambling but worth doing.
We found this out by reading an article in Sunday Mail - Money Mail and it listed Top 10 international money movers. Can't even remember who we used but once we had done research, it was easy. The hard part was deciding which hour of which day to do the transaction. No wonder these boys get paid silly money. we dilly dallied for 2 weeks and it was all worth it in the end.
Good luck
Sarah
The one big thing we found was how much the exchange rate affected the transer. We explored the net and checked out the exchange rate for the last 5 years. We were doing to leave money in the Uk for a good 6 months but decided to bring it sooner. Turned out to be a good move as moving the money earlier gave us an extra $30k or something which paid for 2 cars.
You can register with stock market dealers who, once you decide to use them, just take a nominal fee - a few hundred quid - then call you with an 'offered' exchange rate and ask if you want to do it that day or not. It's all a bit nerve wracking and a bit like gambling but worth doing.
We found this out by reading an article in Sunday Mail - Money Mail and it listed Top 10 international money movers. Can't even remember who we used but once we had done research, it was easy. The hard part was deciding which hour of which day to do the transaction. No wonder these boys get paid silly money. we dilly dallied for 2 weeks and it was all worth it in the end.
Good luck
Sarah
Oct 23rd 2005, 10:02 pm
#7
BE Forum Addict
Joined: Dec 2003
Location: Adelaide - South Australia
Posts: 1,820
Re: access to your money from Aus.
Originally Posted by sunshinesarah
We arranged a power of attorney (my mum) who could basically do anything with our account. We had a bond that was not due to mature until after emigarting so she did that for us when we were here.
The one big thing we found was how much the exchange rate affected the transer. We explored the net and checked out the exchange rate for the last 5 years. We were doing to leave money in the Uk for a good 6 months but decided to bring it sooner. Turned out to be a good move as moving the money earlier gave us an extra $30k or something which paid for 2 cars.
You can register with stock market dealers who, once you decide to use them, just take a nominal fee - a few hundred quid - then call you with an 'offered' exchange rate and ask if you want to do it that day or not. It's all a bit nerve wracking and a bit like gambling but worth doing.
We found this out by reading an article in Sunday Mail - Money Mail and it listed Top 10 international money movers. Can't even remember who we used but once we had done research, it was easy. The hard part was deciding which hour of which day to do the transaction. No wonder these boys get paid silly money. we dilly dallied for 2 weeks and it was all worth it in the end.
Good luck
Sarah
The one big thing we found was how much the exchange rate affected the transer. We explored the net and checked out the exchange rate for the last 5 years. We were doing to leave money in the Uk for a good 6 months but decided to bring it sooner. Turned out to be a good move as moving the money earlier gave us an extra $30k or something which paid for 2 cars.
You can register with stock market dealers who, once you decide to use them, just take a nominal fee - a few hundred quid - then call you with an 'offered' exchange rate and ask if you want to do it that day or not. It's all a bit nerve wracking and a bit like gambling but worth doing.
We found this out by reading an article in Sunday Mail - Money Mail and it listed Top 10 international money movers. Can't even remember who we used but once we had done research, it was easy. The hard part was deciding which hour of which day to do the transaction. No wonder these boys get paid silly money. we dilly dallied for 2 weeks and it was all worth it in the end.
Good luck
Sarah
I wouldn't call a couple of hundred quid a nominal fee :scared:
Oct 23rd 2005, 10:10 pm
#8
is happy to be here :)
Joined: Mar 2005
Location: Somerly, Perth
Posts: 4,800
Re: access to your money from Aus.
I've heard HSBC is good as you can keep your money in GBP until the exchange rate improves, or just transfer it over bit by bit if required 
Oct 24th 2005, 6:44 am
#9
BE Forum Addict
Joined: Mar 2004
Location: Brisbane
Posts: 1,927
Re: access to your money from Aus.
