Helen Randle

Hi, I am moving out to Australia in Jan 2009. I have savings in an acount in UK and wondered if I am eligable to open a savings account in Australia prior to my move?
Any info would be gratefully received!
Thanks, Helen

sals

Yes you can all the major banks have them, westpac, commonwealth, ANZ. Not sure if you have to open a current account first though? I'm sure someone will now the answer to that. I have current account and a savings account. Did it all online. Took about 15 days for the account info to arrive in the post in the UK. Then just transferred money into it using Ozforex. You can only pay in though, you can't withdraw until you have activated your account in Oz. Useful for saving though, it means you can't spend any of it lol.

Helen Randle

Thanks for that! Also benefits me as interest rates are higher over there than here as well as tsopping me spend!

Scrawni 2

We currently bank with HSBC and have just returned from a meeting to set up a premier account ready for when we sell the house and move to Oz. Everything will be in place in Oz when we move

Mandy

No Dramas

I was advised by NAB that Government rules only allow you to open a bank account for a maximum time of 12 months before you arrive in Australia.

If you are going to Australia in Jan 2009 you can't open your account until Jan 2008.

You won't loose your money, the bank is forced to close the account and return all money but I guess they will charge you for the service.

Regards

ianandhelena

don't forget about non-resident withholding tax though.

No Dramas

The word TAX just sends a shiver down my spine.

Tell me more?