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Confused about Money!!
Can somebody out there give a girl a bit of advice???
We are leaving for Melbourne in about a month, when the sale of our house comes through. We have opened an account with the Commonwealth Bank, but have also registered with a currency exchange agency. Not sure how they work, and whether you can use one through the other etc etc. Let's pretend I've never done this before and am a complete layman. Nice and simple please? Thanks a million (well, not if the exchange rate keeps falling!!) Jeannie |
Re: Confused about Money!!
Glad you asked as I was getting to that myself...any answers anybody?
Mash... Originally posted by Jeannie1 Can somebody out there give a girl a bit of advice??? We are leaving for Melbourne in about a month, when the sale of our house comes through. We have opened an account with the Commonwealth Bank, but have also registered with a currency exchange agency. Not sure how they work, and whether you can use one through the other etc etc. Let's pretend I've never done this before and am a complete layman. Nice and simple please? Thanks a million (well, not if the exchange rate keeps falling!!) Jeannie |
We found the easiest way was to use the commonwealth bank(CBA). Not usre it is the cheapest but certainly easiest. Steps we took
1 opened an CBA account in London, didn't have to visit - done by post. They give you a UK sort code and account number 2 when ready I transferred money from our normal UK bank account(Intelligent Finance) to the UK CBA account 3 arrived in Melbourne - went to CBA and said we're here can we have our account opened - showed them the documentation etc. Got the Australian bank details, bank card etc. Just a note - you don't have to go into Melbourne to do this, even though they tell you to - we did it through the Local branch - they want you to go into the city branch as they're geared up to sell you lots of other products!!! Since then have used the UK CBA account on 3 occasions to get UK money out here - takes about 10 days in total end-to-end, but IF adds about 2 days of that delay. Costs 15 pounds each time independent of the value of the transfer - so good to do it in large quantities, but it is really easy with no worry hope this helps Dawn PS - clear blue skies, sunshine, birds singing and of to the beach today!!!! And a long weekend as well......... |
Thanks Dawn, we are with IF currently and I've just hand the visa put in the passport so I'm sending off to Commonwealth to set up the account this week. Good to know this process works!!
I presume you set up the CBA as a transfer online? Is the money converted to Dollars immediately transferred? Have you closed the IF account now? Also check your email I've asked for your advice on schools. Thanks, really appreciate it. Mash... Originally posted by Dawnie We found the easiest way was to use the commonwealth bank(CBA). Not usre it is the cheapest but certainly easiest. Steps we took 1 opened an CBA account in London, didn't have to visit - done by post. They give you a UK sort code and account number 2 when ready I transferred money from our normal UK bank account(Intelligent Finance) to the UK CBA account 3 arrived in Melbourne - went to CBA and said we're here can we have our account opened - showed them the documentation etc. Got the Australian bank details, bank card etc. Just a note - you don't have to go into Melbourne to do this, even though they tell you to - we did it through the Local branch - they want you to go into the city branch as they're geared up to sell you lots of other products!!! Since then have used the UK CBA account on 3 occasions to get UK money out here - takes about 10 days in total end-to-end, but IF adds about 2 days of that delay. Costs 15 pounds each time independent of the value of the transfer - so good to do it in large quantities, but it is really easy with no worry hope this helps Dawn PS - clear blue skies, sunshine, birds singing and of to the beach today!!!! And a long weekend as well......... |
Originally posted by Dawnie We found the easiest way was to use the commonwealth bank(CBA). Not usre it is the cheapest but certainly easiest. Steps we took 1 opened an CBA account in London, didn't have to visit - done by post. They give you a UK sort code and account number 2 when ready I transferred money from our normal UK bank account(Intelligent Finance) to the UK CBA account 3 arrived in Melbourne - went to CBA and said we're here can we have our account opened - showed them the documentation etc. Got the Australian bank details, bank card etc. Just a note - you don't have to go into Melbourne to do this, even though they tell you to - we did it through the Local branch - they want you to go into the city branch as they're geared up to sell you lots of other products!!! Since then have used the UK CBA account on 3 occasions to get UK money out here - takes about 10 days in total end-to-end, but IF adds about 2 days of that delay. Costs 15 pounds each time independent of the value of the transfer - so good to do it in large quantities, but it is really easy with no worry hope this helps Dawn PS - clear blue skies, sunshine, birds singing and of to the beach today!!!! And a long weekend as well......... Jeannie |
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