Commonwealth Migrant Account - Transferring AU$ while in UK???
Aug 8th 2005, 1:14 pm
#1
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Location: Brissie
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Commonwealth Migrant Account - Transferring AU$ while in UK???
Hi everyone (wow 3 threads now in one day I must be up to my personal record!) just after some advice.
I have just created a forward contract with Moneycorp to purchase some AU$ in February 2006 and am also looking at setting up an account with the Commonwealth bank whilst here in the UK. I have to nominate an account that I will transfer the converted money into and was going to nominate the Commonwealth Bank (was going to transfer it a few months before we actually left) but notice on all the forms everything is in £. Is it possible to transfer AU$ straight into the UK account...they wont do anything spooky like convert it back to £ and then back into $ or anything crazy?
Anyone done this?
Cheers
I have just created a forward contract with Moneycorp to purchase some AU$ in February 2006 and am also looking at setting up an account with the Commonwealth bank whilst here in the UK. I have to nominate an account that I will transfer the converted money into and was going to nominate the Commonwealth Bank (was going to transfer it a few months before we actually left) but notice on all the forms everything is in £. Is it possible to transfer AU$ straight into the UK account...they wont do anything spooky like convert it back to £ and then back into $ or anything crazy?
Anyone done this?
Cheers
Aug 8th 2005, 3:12 pm
#2
Forum Regular
Joined: Feb 2002
Posts: 164
Re: Commonwealth Migrant Account - Transferring AU$ while in UK???
Hi Mr FlibbleUK,
I was also worried about this!!
When you open the account you get a London account number which you can transfer sterling into but you can also get the Australian account number off them and transfer the money in dollars straight into that. This is what I have done and all seems to be well so far, but I still need to confirm with CBA that the money has arrived in Oz. I understand that if the money arrives in dollars then they will transfer it for you (to where ever in Oz) and they won't convert it back to sterling.
Hope that helps.
I was also worried about this!!
When you open the account you get a London account number which you can transfer sterling into but you can also get the Australian account number off them and transfer the money in dollars straight into that. This is what I have done and all seems to be well so far, but I still need to confirm with CBA that the money has arrived in Oz. I understand that if the money arrives in dollars then they will transfer it for you (to where ever in Oz) and they won't convert it back to sterling.
Hope that helps.
Aug 8th 2005, 6:51 pm
#3
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Joined: Jan 2002
Location: Brissie
Posts: 689
Re: Commonwealth Migrant Account - Transferring AU$ while in UK???
Originally Posted by alrobson
Hi Mr FlibbleUK,
I was also worried about this!!
When you open the account you get a London account number which you can transfer sterling into but you can also get the Australian account number off them and transfer the money in dollars straight into that. This is what I have done and all seems to be well so far, but I still need to confirm with CBA that the money has arrived in Oz. I understand that if the money arrives in dollars then they will transfer it for you (to where ever in Oz) and they won't convert it back to sterling.
Hope that helps.
I was also worried about this!!
When you open the account you get a London account number which you can transfer sterling into but you can also get the Australian account number off them and transfer the money in dollars straight into that. This is what I have done and all seems to be well so far, but I still need to confirm with CBA that the money has arrived in Oz. I understand that if the money arrives in dollars then they will transfer it for you (to where ever in Oz) and they won't convert it back to sterling.
Hope that helps.
Aug 8th 2005, 11:36 pm
#4
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Joined: Apr 2005
Location: Western burbs, Melbourne
Posts: 2,260
Re: Commonwealth Migrant Account - Transferring AU$ while in UK???
the bank we have found useful is HSBC Oz- we have HSBC bank in UK and transferring money HSBC to HSBC has been as easy as anything. They also give fantastic rates for on-line banking with normal internet access (BPAY for household bills, 4 free any bank ATM withdrawals a month etc) - pay 5.2pct interest.
Downside is they have few branches in Melbourne (3/4 I think) but more in Sydney.
Downside is they have few branches in Melbourne (3/4 I think) but more in Sydney.
Aug 9th 2005, 12:44 am
#5
Sydney- North Shore
Joined: May 2004
Location: Sydney
Posts: 387
Re: Commonwealth Migrant Account - Transferring AU$ while in UK???
Originally Posted by Pomster
the bank we have found useful is HSBC Oz- we have HSBC bank in UK and transferring money HSBC to HSBC has been as easy as anything. They also give fantastic rates for on-line banking with normal internet access (BPAY for household bills, 4 free any bank ATM withdrawals a month etc) - pay 5.2pct interest.
Downside is they have few branches in Melbourne (3/4 I think) but more in Sydney.
Downside is they have few branches in Melbourne (3/4 I think) but more in Sydney.
Also whilst we were very happy with customer service in Uk they mainly cater to chinese/ hong kong immigrants here so their customer service staff often speak very poor english. we regularly found it frustrating and eventually after reviewing the market place changed to ST george bank a few months ago and have been happy with them...
Aug 9th 2005, 1:00 am
#6
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Joined: Apr 2005
Location: Western burbs, Melbourne
Posts: 2,260
Re: Commonwealth Migrant Account - Transferring AU$ while in UK???
Originally Posted by jjonboy
2 other downsides we found with hsbc here are that their eftpos (switch) card is not accepted as widely as most....
Also whilst we were very happy with customer service in Uk they mainly cater to chinese/ hong kong immigrants here so their customer service staff often speak very poor english. we regularly found it frustrating and eventually after reviewing the market place changed to ST george bank a few months ago and have been happy with them...
Also whilst we were very happy with customer service in Uk they mainly cater to chinese/ hong kong immigrants here so their customer service staff often speak very poor english. we regularly found it frustrating and eventually after reviewing the market place changed to ST george bank a few months ago and have been happy with them...
