Matt Sabin

This kind of follows on from a previous thread but is a slightly different question. I've got a UK First Direct (part of HSBC) account and will continue to be paid into this account while I'm in Melbourne. First Direct tell me that to transfer money over to an Australian account costs half as much if it is to an HSBC account in Oz compared with an account with another bank. So, I'm thinking that when we arrive in Melbourne, I'll go to an HSBC bank and set up an account to transfer money to. However, I understand there's only 2 HSBC branches in Melbourne and that HSBC cashpoints are pretty rare as well. So, presumably I'll also need to set up an account with another bank and then do a second transfer of money from HSBC to this bank account so that we can then get money from most cashpoints. What's the best bank to go to that means we could get money out from most cashpoints? Also, anyone got any experience with this or just any other thoughts on what seems to be a really complicated process ? Cheers

Pootle

Your suggestion would seem to be the most straighforward way of doing it. Have you checked out HBSC website in Oz? http://www.hsbc.com.au/
Also this website http://www.infochoice.com.au/banking...?CategoryID=94 lets you compare all the different banks here. You put in what you want from your account and it will list all the available accounts with the different options/costs entailed.
Ruth

edit - this is the link for the transaction account page http://www.infochoice.com.au/banking...gs/default.asp

Matt Sabin

Ruth - thanks for this info. I'll have a proper look at the compare accounts website in the morning. What would you say is the commonest bank to get an account with in Melbourne ie the one with the most ATMs/branches etc - is it Commonwealth?

Pootle

I'm not sure! We use commonwealth and they certainly have a lot of cashpoints but some of the other big banks probably do aswell. Some accounts let you use "other banks" ATM's at no extra charge, some banks (like commonwealth) seem to charge you for everything you do! We try and minimise charges by putting everything on credit then paying it off once a month.
Ruth

Matt Sabin

Cool. Thanks for your help with this. Will investigate further tomorrow. Off to bed...

Pootle

No probs!

MartinLuther

Just so you know. HSBC allows you to use other banks machines for free for a small number of times a month (3 - I think). Also it is quite common in Aus to get cashback when you buy things like groceries using your debit card (like switch) which can reduce your dependence on cashpoints. There doesn't seem to be a problem getting, say, $200 cash with your $200 of groceries (daily use limits apply - typically $1000).

Remember that most banks (but not HSBC) charge monthly account keeping fees - usually about $5 a month - unless you keep large amounts of money with them at poor interest rates.

Personally I would see how you get on with HSBC and start an account with another bank if you have a problem.

ABCDiamond

As well as being able to use any other banks ATM machines, of which you get 5 per month FREE, you can also deposit and Withdraw at any Post Office, and get cashback when required from most supermarkets/shops.

If those facilities are OK for you, then you will NOT need another account.

HSBC Online Saver First 5 non HSBC ATM transactions per month are free and thereafter $2.00 per transaction.

ozzieeagle

You can use any autoteller, with your card.


Thats the Aussie system...


So you have at least 10,000 ATM's across Aussie at your service.

diddy

I think the National ATM's are really common especially the burberry covered ones and the woman on the Westpac one is a right tart. The ANZ ones are a lot posher. Is this what you meant?

ozzieeagle

Because of the way the system here works, You can actually get independant ATM's owned by indivduals, that make money like any other vending machine. Those are the ones you see in places like 7/11's or Pubs, or in the Foyers of shopping malls. Beware, these ones charge a fee. around 1.50 aud, Which goes to the owner of the Vending ATM.

Cheapest and safest place to withdraw money, is the Supermarket Checkout, as you can be sure, you will never get charged a "vending" withdrawal fee there.

Matt Sabin

Hey everybody - thanks for all this info. Got up this am to a wealth of information. Love this forum. Take care all.