Spellbound

Hi all reading,

I know there is a lot of information about this on the site but it seems to be burried in pages of a thread so I am asking for specific info relating to my circumstances, hoping someone has had this experience.

My FIL died earlier this year, both my husband and I are executors. All the estate has been sorted, apart from the sale of his flat which has now sold to a cash buyer who wants to complete in four weeks.

My husband and I have no bank accounts in the UK and left about 6 years ago.

When everything is settled what will be the best way of getting our share of the estate monies to Aus, allowing for exchange rates, accounts, Australian taxes etc?

Any advice, comments or 'watch for warning' possiblities appreciated.

James516

In the short term the money will be held by your solicitor so no need to panic about getting an account within 4 weeks. Suggest you get an account with an international bank such as HSBC or Citi who should be able to open a sterling account for you.

discobay

If you can open a Premier a/c with HSBC they will allow you to open a UK a/c from here too and allow you to transfer between accounts without charge.

Bermudashorts

Just ask the solicitor to wire the money to Australia?

Centurion

Use ozforex to do it. The rate will be much better. The solicitor would just have to confirm receipt of the funds. You then book the rate at ozforex and get the solicitor to transfer the funds to them directly, they in turn transfer to your Australian account.

They will beat bank rates and also means you don't have to open bank accounts in the UK or sterling accounts here in Australia.

Wol

I second that - talk to OzForex.

bagspacked

Just for reference you can see sterling australian dollar exchange rate trend
below:
http://www.transfermate.com/en/excha...to=&p=3+months

Make sure whoever you use give you a good exchange rate, are regulated and have a good reputation.