kevinl

I know this is lazy of me but I really am too stressed to think strait.

Has anyone done a cost comparison between the different companies for transferring your money?

I have opened a Commonwealth account and this seems the easiest way, especially once we go.

I have UK savings accounts but once we go and I can't go into a branch it will take 3 days to make a transaction and I will be limited to £30,000 a day.

If I go with the commonwealth I can earn interest on my money here and transfer it when ever the rate looks good with a simple phone call.

Thanks for any input

Kevin

kevinl

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CathnPaul

Hi Kev

There is also this link for transferring smaller amounts over, it is a lot cheaper. Take a look at this site which came recommended previously.

www.tranzfers.com

The commonwealth account is one of the cheapest. HSBC came out as quite an expensive account.

Hope it helps a little.

wongstonn

One of the problems with comparing prices is actually betting avble to get a spot pricing from more than one company at exactly the same moment. Without a tardis, this is difficult, and as you are being quoted as of an exact moment during a fluid money market you are really never quite sure who is giving a good deal or not. Compounding this is the fact that the CBA telephone line only gives the price at the beginning of the day. And besides it takes three days to transfer the money to the company anyhow and the price you get is when they receive the money (assuming you don't get bogged into more complex contract types).

Though I had a Currencies Direct account, it just got too painful, and I transferred to my Commonwealth account. And to be honest, you don't find yourself dwelling upon the subject once the deed is done. It is only painful beforehand.

Neil

CathnPaul

I agree Neil

but keeping an eye on how much the account itself charges as a base is always handy to be aware of as well as as you rightly state the fluctuating financial market.

Cheers for your experience and knowledge. It all adds to aiding a smoother transition.

manxfamily

Have a look at www.oz-pay.com they offer NEXT DAY transfers at bank rates not tourist rates. Big savings on some of the others and fast.

CathnPaul

Brilliant cheers for that, i know I have jumped on the thread but its all savings at the end of the day.

We are looking at moving our bond over to my uncles account in oz and finding the cheapest, quickest and safest way is proving not as straight forward as we originally thought.

Plus then we will ultimately have the equity to get over there.

will have a look at the link, cheers

manxfamily

yes, we too are going to use them to move our capital investment ($100K) to Oz and then pay the nominated state. Seem to offer the best rate we have found so far.

kevinl

Hi Neil,
if I understand you, you found the problem was getting the money transfered to the brokers to make the transaction and you decided the easiest way was to put the money in the Commonwealth.
This was my view too, with everything else we are doing I really don't need the extra headache and if it is only a few hundred pound different at worst then I can live with that.

Plus I can get 3 % interest from the Commonwealth while it is in my London account, which isn't great but its more then my current account.

Kevin