colonel

Hi,

I know that there are a few threads on here regarding choice of bank account for migrants however, wanted to get a general feel for two banks in particular, NAB and Westpac.

Please lay your vote based on your experience with both banks...

Thanks

Sherlock Holmes

NAB - no fees.

Both banks have had internet banking and debit/credit card woes. Sorry.

RedT

I set up an account with NAB the other week, impressed so far! We got our account number back the next day, names of two people to contact when we arrive and apparently a discount if we transfer our money with Moneycorp.

So far so good! Time will tell if they're actually any good!!

mvagusta

Same here, quiet efficient and if they turn out to be rubbish then you can always move to a different bank. I will use Uk(Oz)forex as there are no bank charges plus they give the first two transfers to Australia free and then only charge £7 for each one after that.

My daughter opened up a Westpac one for her arrival and then changed to NAB

RedT

That's good to know about Ozforex giving free transfers, I can't see us needing any more than two!!

cheers!

mvagusta

I did sign up for tranzfers a part of Ozforex but when they contacted me they suggested that their Ukforex arm would be better to use for larger amounts.

Signing up was really easy.

Even if I don't the the two free transfers it's only £7 per transfer. I have used moneycorp for a transfer to the Usa and it ended up costing about £30 all in between bank charges etc.

colonel

Our account manager at Moneycorp said that they do not charge fees....their fee is included in the exchange rate they quote....also, if we transfer a sum of money the day before we leave...it will be there by the time we arrive at the bank....handy !

mvagusta

Be careful as this looks as if it's an International money transfer and the receiving bank may charge you for this. Ozforex transfer the money to their Australian account and then do the equivelent of a bacs transfer so no bank charge.

The monies in your account within 3 days.

It may be worthwhile comparing rates on a like for like basis.

paulry

I've used them quite few times and they've so far been very good

iamthecreaturefromuranus

Mate, if you ask 100 people which bank is best you would get 100 different answers. I'm with the Comm Bank and they have been excellent. No cock ups at all that I can think of..... but I'm sure plenty of other people will tell you horror stories about the Comm Bank.
The reality is that the best bank is the one with the closest branch and most ATM's, other than that, they are all much of a muchness.

paulry

Same here with Comm Bank

ProudVIC

Give the banks a miss.

ING Australia has better interest, absolutely no fees, accounts can be set up over the internet with no fuss whatsoever, they reimburse you for ATM charges with their 'Orange Everyday' account so you can use any ATM in the world and not get stung one cent, you get a VISA debit card chucked in (again no fees on that and much better than handycards from the major banks), all transactions come up online instantly and you never need to use a bank branch again with everything able to be done online or at most post offices in Australia.

ABCDiamond

Westpac isn't getting a look in on this poll though, 100% NAB so far...

Sherlock Holmes

That's very helpful and interesting, thank you. I'll give it a look.

iamthecreaturefromuranus

Iteresting that, considering that NAB are the only Australian bank to spectacularly cock-up in the last few months.

http://www.abc.net.au/news/stories/2...25/3076078.htm