nursekaty

hi just wondering if anyone knows if ozforex will do monthly transfers to the uk from oz bank account??i'm doing my large transfer when i move to oz but not sure if they'll do monthly ones.....i've got a loan outstanding in the uk that i pay monthly so will be needing to send money into uk account every month to pay it.....if i do international cheque each month it'll cost me £15 each time!!!!

hope someone can help!!

bobbyfaescotland

Why not pay off the loan before you go, with some of your large money transfer. It would work out more economical. And you would not need to worry about it.

1.Interest on the loan,
2.The possible cost of sending money back

Bobby

BullcreekBob

G'day

Arr, canny advice from a Scotsman, they know how to be prudent with money.

I would have said the same thing myself although possibly not with such effective economy of words.

nursekaty

don't have enough money in my savings to pay it off.....only just finished studying last sept so been saving from them for my move to oz have increased my monthly payments to pay it off sooner but am still gona need to transfer money across each month

bobbyfaescotland

Okay, I know that HiFX can arrange for monthly transfers back to the UK on a regular basis, it was in the literature they sent me when I registered with them, so I would guess the others like Oz Forex etc would do the same.

I have heard that sometimes with some credit company's that when you tell them you are emigrating that they are not too chuffed, and want thier money, maybe they think you will do a runner and not pay them.

Anyway good luck

Bobby

nursekaty

thanks for that....my banks aware and have been ok about it...thank god!!

DrWho

Use Tranzfers for smaller sums of money... Owned by OZForex, one of the larger money moving people with a good reputation on here...

jayr

Using Tranzfers (OzForex) will cost you $15 per transaction and you will get a better rate than from many other places.

Use this link and you'll get me a referral point:

http://www.tranzfers.com/refer.asp?r=nitsch01

Using Tranzfers you move $AUS into their account then on receipt they will transfer the money to the UK where you will wait for clearing into your account. The whole process can therefore take about 5 days.

I used to use Commonwealth Bank and with them the transfer is overnight. They charge $22.50 online for that service but I later discovered that I was ALSO being charged 15GBP by their receiving bank in the UK so about $50 for every time. The rate is also worse than with Tranzfers. However, a useful service if you want to pay for speed.

For regular tansfers I would suggest that Tranzfers is the way to go.

Pollyana

I'd echo that - I did monthly transfers for 3 years with no problems through Tranzfers - have to actually do the transaction each time, its not like a direct debit, butit only takes a few minutes online.

Aldebaran

Why only use tranzfers for smaller sums of money? And what do you class as small? I thought they had a fixed rate so they should be good for any sum of money?

AL

DrWho

OZForex charge a fee, $15, for sums under $10k and tranzfers don't... They may have a fixed rate but I believe for larger sums they are not as competitive as their bigger brother...

Pollyana

Tranzfers told me when I signed up that they are designed for the more personal transfers while OZForex are designed for more business-style stuff.
Tranzfers will move small amounts that their bigger brother won't touch, I think its £100 but it may be even less. Very handy when on lower Aus wages and unable to send large sums at a time. If you contact tranzfers they'll advise as to which is best, their customer support is really good.

cra1gm

get a barclays and westpac account then just transfer it over, takes a day or two to get to uk account