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How should I take money to Oz?

How should I take money to Oz?

Old Dec 29th 2007, 4:16 pm
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Smile How should I take money to Oz?

Hi everyone! Merry Christmas!

I have searched the forum to try and find an answer and was hoping someone might be able to help.

I am moving to Sydney next week and I have £2,000 to take over to tie me over until my first pay day. I was going to take this cash and just change it into $ at the airport, but my Dad was like "No way are you walking around with that much cash on you!".

So, I am going to open a St Georges bank account on the first day I arrive but what is the best way for me to take my money?

Should I just write myself a cheque for £1,000 and take £1,000 cash and then pay both into my Aussie account when I get there?

I know its not much money but are you able to just pay in sterling cheques to a Oz bank account? Will it have a terrible rate of exchange?

What have other people done when they have moved? any help appreciated!

Many thanks, Neepneeps xx
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Old Dec 29th 2007, 5:14 pm
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Default Re: How should I take money to Oz?

I would change it to aussie dollars and split it up into 4 or 5 lots. Some in wallet , some in hand luggage, some with your partner, just dont put it altogether and I am sure you will be fine. Im taking $9000.00. Im going to give it to the kids so that they will get mugged and not me.......every man for himself I say
Good luck
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Old Dec 29th 2007, 5:27 pm
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Default Re: How should I take money to Oz?

Originally Posted by neepneeps View Post
Hi everyone! Merry Christmas!

I have searched the forum to try and find an answer and was hoping someone might be able to help.

I am moving to Sydney next week and I have £2,000 to take over to tie me over until my first pay day. I was going to take this cash and just change it into $ at the airport, but my Dad was like "No way are you walking around with that much cash on you!".

So, I am going to open a St Georges bank account on the first day I arrive but what is the best way for me to take my money?

Should I just write myself a cheque for £1,000 and take £1,000 cash and then pay both into my Aussie account when I get there?

I know its not much money but are you able to just pay in sterling cheques to a Oz bank account? Will it have a terrible rate of exchange?

What have other people done when they have moved? any help appreciated!

Many thanks, Neepneeps xx
you may be charged a fee on a foreign cheque
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Old Dec 29th 2007, 9:41 pm
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Default Re: How should I take money to Oz?

http://www.tranzfers.com/ For small money transfers, fee is about £7

or you could send it by Western Union: http://www.westernunion.com/globalPortal.asp you can pick it up at most post offices in Australia by providing ID and your password.
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Old Dec 29th 2007, 9:44 pm
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Default Re: How should I take money to Oz?

When we first came over we brought around $10 000 in cash. We just split it around our luggage and had no problems. We knew we had a lot to buy when we got here, and not having already opened a bank account we thought it the easiest way. We also brought over some travellers cheques
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Old Dec 29th 2007, 10:21 pm
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Default Re: How should I take money to Oz?

Transfer it to my account.........I'll look after it for you
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Old Dec 29th 2007, 10:32 pm
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Default Re: How should I take money to Oz?

Originally Posted by mand8002 View Post
When we first came over we brought around $10 000 in cash. We just split it around our luggage and had no problems. We knew we had a lot to buy when we got here, and not having already opened a bank account we thought it the easiest way. We also brought over some travellers cheques
In checked luggage or hand-held?

If the former, have you seen the stats for the number of items lost in transit?! Glad you got it there anyway.

I'm assuming that your Superannuation Fund is under the bed
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Old Dec 29th 2007, 10:33 pm
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Default Re: How should I take money to Oz?

You can travel with any amount upto £10k in cash I believe. My wife and I spent our honeymoon in Oz and took £3k, half in cash, half in travellers cheques. Split our cash up between our luggage, ourselves etc and the cheques were insured so no problems.

£2k is a reletively small amount..... unless it's all you have. Change it to into Sterling travellers and change it there, better rate over there as well at the moment from what my friend in Adelaide tells me.
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Old Dec 30th 2007, 3:44 am
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Default Re: How should I take money to Oz?

Originally Posted by Vim Fuego View Post
In checked luggage or hand-held?

If the former, have you seen the stats for the number of items lost in transit?! Glad you got it there anyway.

I'm assuming that your Superannuation Fund is under the bed
We split most of it in hand held as there were four of us. Travellers cheques went in checked luggage as if lost american express would replace them anyhow.

Superannuation............mm not got much of that!! Would not put any extra money in to it anyway, lost too much money in a UK pension, I reckon there are better investment options. Superannuation gives you no say on where your money is invested, like to know where mine is going.
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Old Dec 30th 2007, 4:17 am
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Default Re: How should I take money to Oz?

Originally Posted by mand8002 View Post
We split most of it in hand held as there were four of us. Travellers cheques went in checked luggage as if lost american express would replace them anyhow.

Superannuation............mm not got much of that!! Would not put any extra money in to it anyway, lost too much money in a UK pension, I reckon there are better investment options. Superannuation gives you no say on where your money is invested, like to know where mine is going.
Ah, I see ... just just imagined waving goodbye to suitcases full of crisp notes at check-in ... we've had 2 visits from the UK and both times cases have been lost.

Super ... well, I work in a bank so yeh, I see your point, stick it in bricks and mortar is probably a better bet
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Old Dec 30th 2007, 4:43 am
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Default Re: How should I take money to Oz?

Either bring it with you or open up a bank account in Oz and transfer it over.

Whatever you do, do not bring a cheque over. We brought a bank cheque from Canada for $6,000 and it took 6 weeks to clear. It might be better from the UK but I would still expect delays.

So if you're going to need the money right away I would suggest you bring it with you and separate it up as best you can. But I'd still carry it in your hand luggage on the plane. I routinely lose luggage (always found though) on the trip over so just be careful.
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Old Dec 30th 2007, 7:08 am
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Default Re: How should I take money to Oz?

what abt depositing the amount in your local bank a/c in UK and withdrawing the same in AUS via ATM using your international ATM/debit card.

correct me if I am wrong but i feel this is the easiest and best option, you can withdraw as much amount as you like.

Regards,
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Old Dec 30th 2007, 7:49 am
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Default Re: How should I take money to Oz?

Originally Posted by cool_archie View Post
what abt depositing the amount in your local bank a/c in UK and withdrawing the same in AUS via ATM using your international ATM/debit card.

correct me if I am wrong but i feel this is the easiest and best option, you can withdraw as much amount as you like.

Regards,
Yes, that would be a good option. You can withdraw as much as you want, although there could be a limit of how much you take out each day.

For example, I think our old card could only withdraw $500 a day. I'm sure you could change that though if you arranged it with the bank.
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Old Jan 2nd 2008, 9:17 am
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Default Re: How should I take money to Oz?

thanks everyone! I think I am going to take it in cash/travellers cheques. half cash in dollars and half in cheques.
thanks so much, now I just need to calm the nerves - cant beleive I am actually going! x
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