Exchanging Money
Sep 17th 2005, 4:27 am
#1
Gold Coast
Thread Starter
Joined: Jul 2003
Posts: 22
Exchanging Money
Hi,
Can any one offer any advice on exchanging largish sums of money over from the UK? We still have savings over in Uk bank accounts and were going to just transfer them through to our oz accounts, but did not know if there was any better way of doing it
Thanks in advance
Can any one offer any advice on exchanging largish sums of money over from the UK? We still have savings over in Uk bank accounts and were going to just transfer them through to our oz accounts, but did not know if there was any better way of doing it
Thanks in advance
Sep 17th 2005, 5:35 am
#3
ah-beng
Joined: Aug 2004
Location: ^.^
Posts: 3,113
Re: Exchanging Money
There are 3 main options
HIFX as already mentioned , if you're in aus you register here in Aus. if you're in UK you register in UK. They do provide reasonable rates for bulk transfers.
If you are transferring smaller amounts or more regular or for another place then www.tranzfers.com are also very good - I use them a lot. Their process is all online so its like using online banking, whereas HIFX is all telephone based . With Hifx you phone a broker and buy a trade there and then, then you post a cheque or do a wire transfer to hifx account and they settle with you wihtin a few days.
Tranzfers you log on - setup the trade you want , like buy 1000GBP in AUD , select auto-convert which means it will convert to aussie as soon as the trade is setup OR ' I wil lconvert' which means you can leave the money there until you need it or watch the market then logon and hit'convert' and they execute the trade.
If you want to register with tranzfers do me a favour and use my referral id to get me brownie points ;-) http://www.tranzfers.com/refer.asp?r=ijcollins
Tranzfers are VERY fast at doing the transactions and clearing hte money into your accounts.
when you setup these trades be aware of how you are goin to get the money into their accounts - HIFX are at a bank in Reading, Tranzfers bank with barclays. If you plan to use UK online banking to transfer the money make sure you are within the transaction limits of the online banking facility or you'll come a cropper.
The other option is NatWest account - they are free to use their Visa cards over here, their rates are outstanding ( very close to inter-bank rates ) and they make no surcharges. They are very popular for people with money in UK that want to spend it here. I think you need an account opened before you leave UK but they're pretty good option.
HIFX as already mentioned , if you're in aus you register here in Aus. if you're in UK you register in UK. They do provide reasonable rates for bulk transfers.
If you are transferring smaller amounts or more regular or for another place then www.tranzfers.com are also very good - I use them a lot. Their process is all online so its like using online banking, whereas HIFX is all telephone based . With Hifx you phone a broker and buy a trade there and then, then you post a cheque or do a wire transfer to hifx account and they settle with you wihtin a few days.
Tranzfers you log on - setup the trade you want , like buy 1000GBP in AUD , select auto-convert which means it will convert to aussie as soon as the trade is setup OR ' I wil lconvert' which means you can leave the money there until you need it or watch the market then logon and hit'convert' and they execute the trade.
If you want to register with tranzfers do me a favour and use my referral id to get me brownie points ;-) http://www.tranzfers.com/refer.asp?r=ijcollins
Tranzfers are VERY fast at doing the transactions and clearing hte money into your accounts.
when you setup these trades be aware of how you are goin to get the money into their accounts - HIFX are at a bank in Reading, Tranzfers bank with barclays. If you plan to use UK online banking to transfer the money make sure you are within the transaction limits of the online banking facility or you'll come a cropper.
The other option is NatWest account - they are free to use their Visa cards over here, their rates are outstanding ( very close to inter-bank rates ) and they make no surcharges. They are very popular for people with money in UK that want to spend it here. I think you need an account opened before you leave UK but they're pretty good option.
Sep 17th 2005, 6:50 am
#4
BE Forum Addict
Joined: May 2005
Location: Bunbury WA
Posts: 1,844
Re: Exchanging Money
Originally Posted by CadburysFingers
Sep 17th 2005, 7:31 am
#5
BE Forum Addict
Joined: Dec 2004
Location: A land far far away
Posts: 1,149
Re: Exchanging Money
Suggest www.moneycorp.com - we got rates from HIFX and Tranzfers, told Moneycorp what they were (give or take) and they bettered it. You have to negotiate hard.
Do a search and you'll find a post I answered about putting money in the marketplace at a rate you want, then hope for the best.
Do a search and you'll find a post I answered about putting money in the marketplace at a rate you want, then hope for the best.
Sep 18th 2005, 4:22 am
#6
Gold Coast
Thread Starter
Joined: Jul 2003
Posts: 22
Re: Exchanging Money
Thanks Guys much appreciated 
Sep 18th 2005, 7:08 am
#7
Forum Regular
Joined: Feb 2005
Posts: 256
Re: Exchanging Money
Originally Posted by spalen
There are 3 main options
HIFX as already mentioned , if you're in aus you register here in Aus. if you're in UK you register in UK. They do provide reasonable rates for bulk transfers.
If you are transferring smaller amounts or more regular or for another place then www.tranzfers.com are also very good - I use them a lot. Their process is all online so its like using online banking, whereas HIFX is all telephone based . With Hifx you phone a broker and buy a trade there and then, then you post a cheque or do a wire transfer to hifx account and they settle with you wihtin a few days.
Tranzfers you log on - setup the trade you want , like buy 1000GBP in AUD , select auto-convert which means it will convert to aussie as soon as the trade is setup OR ' I wil lconvert' which means you can leave the money there until you need it or watch the market then logon and hit'convert' and they execute the trade.
If you want to register with tranzfers do me a favour and use my referral id to get me brownie points ;-) http://www.tranzfers.com/refer.asp?r=ijcollins
Tranzfers are VERY fast at doing the transactions and clearing hte money into your accounts.
when you setup these trades be aware of how you are goin to get the money into their accounts - HIFX are at a bank in Reading, Tranzfers bank with barclays. If you plan to use UK online banking to transfer the money make sure you are within the transaction limits of the online banking facility or you'll come a cropper.
The other option is NatWest account - they are free to use their Visa cards over here, their rates are outstanding ( very close to inter-bank rates ) and they make no surcharges. They are very popular for people with money in UK that want to spend it here. I think you need an account opened before you leave UK but they're pretty good option.
HIFX as already mentioned , if you're in aus you register here in Aus. if you're in UK you register in UK. They do provide reasonable rates for bulk transfers.
If you are transferring smaller amounts or more regular or for another place then www.tranzfers.com are also very good - I use them a lot. Their process is all online so its like using online banking, whereas HIFX is all telephone based . With Hifx you phone a broker and buy a trade there and then, then you post a cheque or do a wire transfer to hifx account and they settle with you wihtin a few days.
Tranzfers you log on - setup the trade you want , like buy 1000GBP in AUD , select auto-convert which means it will convert to aussie as soon as the trade is setup OR ' I wil lconvert' which means you can leave the money there until you need it or watch the market then logon and hit'convert' and they execute the trade.
If you want to register with tranzfers do me a favour and use my referral id to get me brownie points ;-) http://www.tranzfers.com/refer.asp?r=ijcollins
Tranzfers are VERY fast at doing the transactions and clearing hte money into your accounts.
when you setup these trades be aware of how you are goin to get the money into their accounts - HIFX are at a bank in Reading, Tranzfers bank with barclays. If you plan to use UK online banking to transfer the money make sure you are within the transaction limits of the online banking facility or you'll come a cropper.
The other option is NatWest account - they are free to use their Visa cards over here, their rates are outstanding ( very close to inter-bank rates ) and they make no surcharges. They are very popular for people with money in UK that want to spend it here. I think you need an account opened before you leave UK but they're pretty good option.
Sep 18th 2005, 7:44 am
#8
ah-beng
Joined: Aug 2004
Location: ^.^
Posts: 3,113
Re: Exchanging Money
Originally Posted by rangersman
We got a credit card with Natwest, we have banked with them for years good credit rating only got limit of £500!!! and they wouldn't increase it naff!
