bedan

Hi,
I am planing to move in Australia by feb end. can anyone suggest me the best way of money transfer (I want to xr 100K AU$) and this is my initial entry.

Wave the Sails

Either contact HIFX www.hifx.co.uk

Or the Commonwealth Bank of Australia in the UK.

In my experience both have been fabulous, and very straightforward.

biggy

I used www.tranzfers.com they r brill and easy to use

bert-doozer

Biggy,

I take it you can only use tranzfers if you are in Oz, as you need to register with an Oz address?

Stu

wandrews

I have successfully opened an account whilst still in the UK. They even gave me a free transfer.

bert-doozer

How did u do that just tried to register online & they require an Oz address for the state/ territory bit?????

sackofspuds

I think if you put UK and look down the list you'll see "South East" for example. I registered earlier in the week from the UK.

thepoacher

If you go to the Commonwealth Bank website (http://www.commbank.com.au) there is a section on Moving to Australia. You can also fill out a 'more information' request form and they send you a free pack on migrant banking.
We got ours after about a week and it tell you how you can set up an account from the UK ready for when you go over.

sackofspuds

Can I ask whether you've exchanged large amounts with them? Their testimonials are all from Ozzies and Kiwis in the UK who are changing relatively small amounts regularly, rather than, eg, £100k.

Call me a coward, but I'd hesitate at using them for really large amounts; I'd stick with a bricks and mortar company like HIFX or a bank.

Jimclevs

Hello

Whoever you register and deal with - if you don't need to do this exchange straight away - and I see that you intend being in Australia next month sometime - give yourself a few days to sort out the market.

The Au$ is not as favourable for exchange from £sterling as it was, say, around Christmas, but there does now seem to be a general trend upwards again. You do have to even pick your time of day on this - it looks like it has moved more than 1.5 cents - downwards - today alone which, on your £100k is a difference of some 1500 dollars. The general trend, as I said, is still upwards at the moment but you have to watch it like a hawk!! Miss a couple of days and it could have bounced 4 or 5 cents - either way!!

Also - be prepared to lose approx 2.5 or 3 cents below the bank rate when you do your deal.

There has been a recent thread on all this - early December I think - when a couple of posters sang the praises of an exchange company based in NZ called ELynch. Try them as well before you decide but, whatever you do, keep your eyes peeled - its a real roller coaster of a ride with this particular currency.

Good luck

Jim