jay2602

Hi,
My wife, me and our 3 kids are moving to Queenslands Gold coast in 4 weeks , (we have a container booked for Aug 22nd complete our house sale on Aug 28th and we're flying out on 29th.. Gulp)... we need a good UK bank account to deposit the equity from the sale, with a good interest rate and instant access so the balance can be transfered when the exchange rate is good. Does such a bank account exist?? My wifes bank (lloydstsb) has offered her their International bank account. can anyone tell us if its any good?? was also Wondering if there are any Oz bank accounts we can open on line? can any one help..

Ta Jay.

datamile

Westpac let you do most of the openning on line, but there is a letter that goes back and forth I think, check if you can do it in 4 weeks as I can't remember. There are plenty of threads here about it. You have to go to a branch to do your ID checks once here to activate it, but you can have money waiting for you here. They are very tight on ID here.

UK banks, I'd have a look around. Some restrict the amount you can transfer on a single day, or need you to do it in a branch.

We've got ours in an abbey national esaver as its all online, and pays an ok interest rate.

GreyDog

Nationwide pay a good rate of interest and international cash machine withdrawals are free.

jay2602

Nice one, I'll check em out, Thanks

Urno

I've literally just finished with Westpac on the phone! Took about 30 mins, and was very easy really (don't worry about time change either as they're 24/7). Just had to provide Name / DOB / UK Phone / UK Address, and i now have an account number and phone/internet access too!!

Number is 00 61 2929 39270.

Opened an ordinary transaction account for now and will check out the other options in a bit more detail when i'm there (they have a high interest savings acc to with something over 5%). They charge 5 dollars a month, which is waived if your balance is over 3k.

<dis type="claimer"> I don't work for Westpac </dis>

BarneyBoy

Check out offshore accounts if you don't want to get stung with tax. I hear the HSBC has a good one, based in Jersey.

jay2602

Brilliant ta...

jay2602

Hey Urno... Thanks 4 the tip, my wife's on the phone as I type,

datamile

Yup, westpac normally give you a transaction account ( current ), and a maxi account (saving ).

There was a thread here about how to then apply over the phone for phone and internet access so it ready for when you arrive.

Debit cards will take a week or two to apply and get. You won't get a Credit card without a job etc, so keep a UK one for emergencies in the first few months.

C&R

Commonwealth have a netsaver account 6% interest rate, and 8 month term deposit account 6.40%

Techno Freak

Here's the link for getting on-line access to your Westpac account before you arrive.

Best of luck with the house sale and move.

http://britishexpats.com/forum/showt...estpac+from+uk

biggy

Feel free to put it in my account

themerlin

I will second that. We have had ours open the entire time we are out here.
It's crazy, no fee to use the ANZ ATM from out UK bank, but use the commbank cash card and they charge you a huge fee

ray2gill

Sorry HSBC rates are *****, try the Anglo Irish in the IOM. Their paying 6%.

Get your solicitor to transfer the house sale funds, as a recognised institution they won't have any problems with the amount. Otherwise you are limited to 10,000 per day as an individual due to money laundering regulations.