Perth1964

Whats the best way to take money back to the UK?

old.sparkles

Use a forex company to transfer it to your UK bank account. Oz forex is often recommended but I've only used the UK side of the company (UK forex)

Beoz

Typically people transfer it using thise things called banks. The clever people use currency exchange companies. The not so cleaver stash it in their pants. Either way, anything over $10,000 might attract attention

Perth1964

That's good banks never would of thought of that.I was thinking more of the forex companies .

Beoz

Oh. You could try phoning around a couple of private forex companies. They often will try and beat the rate you get on the well know forex crowds.

Amazulu

In a.suitcase

Kind of cool too

spouse of scouse

Hi Perth1964, nice to 'see' you again

If you're talking about more than $10,000, absolutely don't use a bank. Their foreign exchange rates are abysmal. I can vouch for Oz Forex. We've bought an off-plan flat in the UK and are paying for it in four stages as the development progresses. Oz Forex don't charge fees for amounts over $10,000 and their exchange rate is pretty close to the official one, whereas the bank's rate was considerably poorer.

It may seem like a bit of fiddling around to set up your OzForex account, but it's fairly stress-free. From memory, you go onto their website and complete an application to set up an account with them. It doesn't cost anything, and you need to enter some form of ID - I think we used our passport numbers. Then they give you a call to confirm your account has been set up, apparantly they sometimes ask for more ID but they didn't in our case.

You're then sent an email that has all the info on how to transfer money - which is a really simple process. They accept Bpay so it's handy if you have that set up with your bank, as it's then just a matter of going online and transferring the money from your bank account to OzForex's account. There is no charge for Bpay transfers.

I think that's it but feel free to ask any questions, I'll help if I can. Best of luck

Pollyana

....and if its less than $10,000 have alook at www.tranzfers.com - same company as ozforex but they deal with smaller smounts

spouse of scouse