pscotty

Can anyone tell me what the best method is to transfer money over to Australia (ie least charges, most secure etc)
Thanks in advance for any advice given!

allankate

Hi there I used www.firstratefx.com rates were good, payment was quick and best of all no charges either.

I moved about £30K over in December 06 and have just set up a regular payment with them to help service my Land mortgage over there, (the exchange rates pretty poor at the moment down about 5% since August so I don't want to move a big lump over until it improves, so I'll just send the amount I need to every month and wait until it gets better).

Allan

gedge

hi there, I've moved your post to the main australia forum as it'll get better visibility here

i'd suggest doing a search here for money transfers as there have been a few threads before
a company i've used numerous times is www.tranzfers.com
their cost are low and rates reasonable, but if it's a large amount you'll want to look around and compare with say hifx.com or others

good luck

Pollyana

If its a large amount you could look at using Ozforez, the branch of trnazfers which deals with larger amounts. Tranzfers are great, been using them for 6 years now and their customer support is excellent.

dave99

I have used money corp many times, they always offer great rates and I have never had any problems with them

http:// www.moneycorp.com

The rate at the minute is 2.31 when I first came over it was 2.45 and I am hoping it can get back up to that in the next few months!

pscotty

Thanks for the advice. We have looked at the money transfer companies as before, but were are not entirely happy about dealing over the internet. did you look at using your bank to transfer your money?

Red_head32

well dad, u cud always give me the money to look after, i wud take very good care of it =D hehe love u xxx

allankate

Yep the banks give you a rubbish rate and charge you big time for the transfer too. I think all of the companies in the UK have to authorised by the financial services authority (same as the banks do) as long as you use one that you've heard of or is recommended by some one you know well, you'll be fine.

Allan

renka

We used westpac a few days ago. they charg AUD10, two days transaction from my bank in Ireland to westpac. the website www.westpac.com.au for more info.

dave99

I looked into using a bank at the time and found that they offer really poor exchange rates. I am with the HSBC in the UK and setup a HSBC austrlian account before comming over but their rates were terrible. So I went with moneycorp

I heard of moneycorp as they had a big stand at an australian emigration expo I went to in london back before we came over. They are a massive company and I sat down and chatted to their people who explained the process.
They were very helpful and I have used them several times now.

I just wish the rate would go back to 2.45, anyone know if its expected to climb up a bit?

allankate

I've been watching this graph http://www.x-rates.com/d/AUD/GBP/graph120.html avidly for the last few weeks in the hop of a turn it does look like it has bottomed out and hopefully we'll see it going up soon!

Allan