gubbin

Hi all,

Has anyone experience or knowledge of migrant banking services? We have some information from the Commonwealth Bank, it seems good but didn't know whether it was worth waiting until we get to our destination before we made our banking arrangements. I quite like the idea of putting some money in an Australian Bank account in preparation for our move and thought it will be one less thing to worry about on arrival.

Any thoughts - good or bad much appreciated.

Thanks.

jockney

We done exactly that in south australia,glenelg.Comm bank were very helpfull and we did not have to put any money in,although there is a charge even when your not using it properly.We have a little in there now and are not moving until september.We have paid for a few things through the account. jockney

andie

Weve just opened an account with commonwealth, when we arrive all we have to do is take our id to activate it in oz.

booboo1

we are opening a bank account with them over here. we feel it gives us a little bit of banking history with them before we hit aus.
It may be of help in the future. We will just activate it when we get there.

BooBoo

teresa.c

We are doing the same, but gonna wait till we got our visa in hand!!! Commonwealth seem pretty good, and the info pack includes iflyer on cheap one way flights for account holders!! Every little helps!!
I have also heard the sooner you get a bank account open, the sooner your credit rating starts increasing, which must be a plus!

terryg

Hi Teresa

I think I will give this a go too in order to get the credit rating ticking along.

regards

Terry

gubbin

Thanks everyone.

Definately going to get it sorted. Never thought about the credit rating situation before, but such a good idea to get into the system.

kevmitch

We're doing the same. Have met with their UK migrant Banking people and set up an account with the London end, with a view to activating a 'full on' account once we arrive.

However, my understanding is whilst you can arrange everything before you go, the UK account is only an 'in principle' account - and is unlikely to count towards credit ratings, etc. You still need to 'activate' a full account with your local branch.

Can anyone advise otherwise. If I can begin to use the account now, it would certainly be a good way to build the beginnings of an Australian Credit History.

Best wishes


Kev

Mandyisere

Unfortunately i'm one of those people with bad credit in the UK so its fine with me that your credit rating doesn't follow you. But will i still be able to open an account in the UK or will they cheque my credit rating and tell me where to go?

Mandy

teresa.c

Yeah, I would love someone to confirm/deny this aswell.
I may need to slap my informants!!

Terry

I bank with first direct here and was thinking of using hsbc as they are part of the same company and have branches in au.
do you think the credit rating would be a continuation of existing account?
I have also phoned for a info pack from the comonwealth bank last week.

Terry