Banks

Old May 7th 2002, 12:33 pm
  #1  
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Default Banks

Hi all,

Next on the todo list is banking..... Obviously there's the Commonwealth Bank in London but what about some of the others? Oz's charges seem high compared to the UK and some of the smaller banks seem to offer better value for money than the large organisations. But how safe are these small banks - anyone have pointers to banking regulators / investment protection schemes etc?

At the moment we're looking at St Georges www.stgeorge.com.au - any comments?

Bye,

Anon
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Old May 7th 2002, 2:23 pm
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Default Re: Banks

Hi Anon

We've decided to stick with the HSBC for now, we've just to fill in some forms with them and they'll open us an account in Australia with their bank. Not sure if their charges are as high as some of the Aussie banks but it'll do until we get there and suss it out properly. I know that's added nothing to what you asked, but just thought I'd add my 2 cents worth....

love sophia x
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Old May 7th 2002, 7:07 pm
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Default Re: Banks

Esp since Rothwells, I wouldn't claim that all small banks etc are satisfactorily
safe. I do not have any proper knowledge of the gov protections, but I would
certainly regard St George as being "safe". It is certainly not small fry. My advice
for keeping money in oz would be to open an account at www.ingdirect.com.au. This
gives you a very secure (ING are *huge*) account, and a good interest rate too. They
don't have branches however, so you will need a "normal" bank account with someone
like St George, even if you only keep a dollar or two in there.

Cheers,

Bannor (Western Australia)

Anon E Mouse wrote:

    > Hi all,
    >
    > Next on the todo list is banking..... Obviously there's the Commonwealth Bank in
    > London but what about some of the others? Oz's charges seem high compared to the UK
    > and some of the smaller banks seem to offer better value for money than the large
    > organisations. But how safe are these small banks - anyone have pointers to banking
    > regulators / investment protection schemes etc?
    >
    > At the moment we're looking at St Georges www.stgeorge.com.au - any comments?
    >
    > Bye,
    >
    > Anon
    >
    >
    >
    > --
    > Posted via http://britishexpats.com
 
Old May 7th 2002, 7:47 pm
  #4  
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Default Re: Banks

Thanks Sophia. HSBC - I used to work for them in a previous life - ah the stories :-) My current bank has a Oz division but they told me to phone Oz...V Helpful.

Bannor - thanks for the ING tip - but really? ING as in ING Barings?

Not having branches isn't a problem here, again my current bank only has 4 in the UK. But saying that, we're "ATM tarts" - we can use any UK ATM with no charge. Considering the extortionate charges Oz banks throw at you, I guess going back to the bad old days of branch banking is one of those downsides of emmigrating :-(
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Old May 7th 2002, 8:18 pm
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Default Re: Banks

have a look at www.hsbc.com.au They have an online account, which it seems has no charges regardless of how many times you use the ATM.
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