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Buying home - how did you move your money?

Buying home - how did you move your money?

Old Jan 4th 2010, 9:01 pm
  #1  
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Default Buying home - how did you move your money?

Hi guys

we are in the process of selling our home in the UK and buying one here. What is the cheapest way to transfer money so that we don't lose thousands in bank fees? Can anyone recommend a method?

thanks
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Old Jan 4th 2010, 9:15 pm
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Default Re: Buying home - how did you move your money?

We used OzForez /Tranzfers for most of our money, and I still use OzForex monthly to bring my pension out. They are very good, and helpful if things go awry - which they do occasionally!
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Old Jan 4th 2010, 9:23 pm
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Default Re: Buying home - how did you move your money?

I used HSBC UK to HSBC Aus, and it cost me a £10.00 fee

It arrived in the Aus account the day after it was debited to the UK account, and I got 2.795 FX rate. The interbank rate on the day averaged 2.8099
So the bank charged 0.53% on the FX rate (£1,490 profit for each £100,000)

That would be the same as todays interbank rate of 1.7979, but actually getting 1.7884.
 
Old Jan 4th 2010, 11:10 pm
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Default Re: Buying home - how did you move your money?

Originally Posted by iolande
Hi guys

we are in the process of selling our home in the UK and buying one here. What is the cheapest way to transfer money so that we don't lose thousands in bank fees? Can anyone recommend a method?

thanks
Hi iolande

I am Chris Minehan and I work at Ozforex. My advice would be to check a few services and see what rates you are offered. Ozforex will generally save you up to 1% from traditional bank services, because this is a high value transaction we can put you on a prefered pricing level, which will save you even more money.


Chris
Marketing Manager
OzForex

Last edited by Sue; Nov 3rd 2010 at 12:42 pm. Reason: Please don't post links to your site. URL is already in your signature. Thanks
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Old Jan 5th 2010, 12:17 am
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Default Re: Buying home - how did you move your money?

Originally Posted by mgilmour
Hi iolande

I am Chris Minehan and I work at Ozforex. My advice would be to check a few services and see what rates you are offered. Ozforex will generally save you up to 1% from traditional bank services, because this is a high value transaction we can put you on a prefered pricing level, which will save you even more money.

Chris
Marketing Manager
OzForex
thanks - will keep you in mind for when we find that house we want to buy!
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Old Jan 5th 2010, 1:47 am
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Default Re: Buying home - how did you move your money?

I used Ozforex too. I've used them a number of times. Great rates, great service.
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