RooksieJ

I think I may have read this somewhere on the forum but can't remember Is it feasible to keep a UK building society account for relatives etc to pay into for our kids for birthdays and christmas n stuff? Obviously one that we can draw on in Oz!!??

Wendy

I have a mate here that opened a joint account with her Mum. She said it works really well because she can transfer money to the UK for presents, and people can put money in for her kids. Her Mum can put money in from there if they need it and she can transfer funds in from here that her Mum can draw out.

I kept the kids accounts open with the HSBC but TBH it's too much hassle so I'm closing them when my lad comes out in June. I've told everyone to either send Western Union transfers (you can get at any PO) or Cheques (they cost $10 to cash though!)

louise4

Hi rooksie we kept our uk building society account for this reason, you just need to go into your bank/ building society and make sure they know that overseas transactions will be taking place. they might sugest changing over accounts, but other than that thier shouldn't be a problem.

RooksieJ

Thanks ladies

Anyone recommend a bank or building society?

GinaUK

Hi Rooksie,

go with Nationwide. You can open the account online from here (UK) (unlike other banks you don't need to get your salary paid into it). At the same time, sign up for internet banking. Then you can see all transations and manage everything from Oz via the internet - no need for paper statements.

I'd also recommend signing up for a Nationwide credit card. They are the only credit card that doesn't charge commission when you use it overseas. This will be handy until you get an Oz credit card.

Gina

RooksieJ

YAY!! thanks

marco121068

Yep - definitely Nationwide.

Sue from Manchester

Ditto, Nationwide

Wendy

Can someone open me a Nationwide Savings Account for my kids please

yanH

We just kept our accounts open when we moved and transferred the postal address to the sister in laws. It works really well. No hassles when sending and receiveing money from the UK.

annqldau

We had nationwide account when we first came over for the very reasons given by GinaUK... no fees, easy internet the only stumbling block was at the original opening when they wanted us to keep going to branch to sign for stuff.

M J

Having a joint account with someone staying in the UK (like my mum)sounds good. Two questions though:

If i had cash to pay into it i couldn't do it... only a transfer from an Oz bank account over the internet is that right?
What if my mum emigrated too later on could we close it with her being in UK and me being in Oz?

Any ideas?
Thanks M J

Wendy

Yes, she does internet transfers into the account (which is really easy to do)

It depends on how many signatures are needed (one is the best bet!), but you could leave a letter with her saying to close it with your signature on, then she'd just need to add hers and give them it.

RooksieJ

nationwide it is then

annqldau

You would have to send the cash back to Uk somehow, your aus bank will do it bank to nationwide for a fee.

To get money out in Aus easiest way would be at cash machine with debit card as you need it can get up to $500 per card holder I think it was, so $1000 a day.