rob fallows

Can any one reccommend the best way to transfer money when emigrating to Oz? I have heard specialist money company's such as HiFx offer better exchange rates than high st banks?

s-jmelbournewannabe

That's who i'll be using.... and peeps on here have done the same and not complained.... YET..

boyz119

We were looking at opening an acct at Commonwealth Bank, purely because you can do so before you go, and therefore its already set up, they will also transfer your money for you.

Had a quick look for comparison on Comm bank and Hifx, on a £10k (example only) transfer, you get approx $220 more with Hifx, BUT, Hifx states "All rates shown are based on today's Interbank rates. This is the rate at which banks and brokers buy and sell money to each other. Private individuals and small to medium sized businesses cannot access these rates. They are therefore provided for indicative purposes only. For a quote please call us."

You therefore are not gonna get the rate they are using to provide an example exchange transaction, so may not be any better off.

Any comments anyone? Or idea's.

Centurion

www.ozforex.com

Used them many times and you get a better than a high street bank rate that will be a couple of points below interbank rate.

boyz119

Ok it looks like Ozforex wins on rates.

According to all websites:
Comm Bank - 2.3446
Hifx - 2.3666 (Indicative rate only)
Ozforex - 2.3525 (Customer rates)

rob fallows

Thanks guys, most useful! Will check out Ozforex

ridds

xetrade.com for me

Nomore

We also used OZforex..they were excellent. No probs at all.

wafc

Yep a vote for Ozforex here too, they're an excellent company and I've just used them again today to transfer my dollars back into pounds!

Can't fault them.

renth

I've used Ozforex many times, they are excellent.

kars

Hi

We transfered the bulk of our money with HIFX and had no problems. We are in the process of buying a house in Aus and need to bring some more of our savings over approx 10,000 pounds. I have e-mailed HFIX but not had a response and not sure if that's because the amount might be too small.

Also when we transfered the bulk of our money although it was in a Nationwide internet account we had to go into our local branch in the UK and the bank transfered it over to HIFX for us. So not sure how we transfer this smaller amount and we need it in less than 2 weeks!!!

Thanks

Wol

I've used both, and OzForex win on service. It's very difficult to compare rates since they change second by second, but i've been happy with the rates.

shonalouise

We have just transferred £8k into AUD no problems with HIFX, I have always found them better if you communicate via telephone. We also have Nationwide Account and transferred money online from Aus into HIFX account and it arrived in our Westpac account a few days later. We also used them to transfer the bulk of our money over in Jan and they were hassle free.

steandleigh

We used HIFX a couple of times to transfer and they were really good. The more you exchange the better the rate and it's well worth keeping an eye on the rate over time if you can, before leaping in.