gwrees

Can anyone recomend, or does anyone know anything about Citybank's Traveller Account?

http://www.citibank.com.au/portal/ge...00300540000001

(I think thats the link)

Maybe I'm wrong but it seems like an easy wasy of opening a bank account in Australia so you can transfer funds before you go. Maybe I'm wrong, I'm not clued up on these things. Is it ok if your going there permanently, just to get your money over there?

Does anyone have any other information on how to open a Bank Account. I've just bought a load of dollars through **** Direct an need to transfer it to an Account to get some interest.

Cheers Ger

walla

Don't know bout citibank but we opened one easily with Commonwealth Bank of Oz, house monies going there Friday, problem is you can't touch it till you get to Oz.

Loads of threads bout this do a search

Walla

HiddenPaw

Hi Walla
You should be able to access the money in the CBA a/c
HAve you opened it with the London branch? If so, when you pay in your GBP they will hold the money in the UK a/c until you give the nod to convert to AUD (i.e. move into Oz account - you have 2 a/cs with CBA - one in UK, one in Oz, two sets of a/c numbers, etc). If you need to move funds back to the UK a/c again you can ask for an international money transfer - you pay about £15 tho for the privilege tho

(Sorry if the above doesn't apply to the type of a/c you have opened!!)

ABCDiamond

Also HSBC - International Branch Tel: 020 7991 7278 (For opening Australian Account from UK)

NewJerseyToOz

I'm in the middle of opening a Citibank Online Cash Manager (OCM) account:

http://www.citibank.com.au/portal/ci...leftNavDeposit

I looked at the Traveller Account and it seemed a little pricey in terms of fees (for withdrawals and inbound telegraphic transfers). I'm going to Sydney in Jan 05 and needed some place to park money until then (with reasonable interest) that didn't charge an arm and a leg. The OCM seems to suit me fine. It really is intended as a low transaction internet-only account: if you have a large number of transactions or over-the-counter transactions, then you'll pay substantial fees for this account. On the other hand, it's hard to argue with 5.4% p.a.

The other reason I chose this account is that I could open it from here (the US) without providing any Australian address.

Hope this helps,
NewJerseyToOz

walla

Hey HiddenPaw

Aint got a clue what account it is apart from a current account, they just told us they will hold for Oztime. Thinking about thou I have my account numbers so should be able to access it. Hope my wife don't read this thread because she fancies a new pair of shoes!!

Tis London branch

Walla

FiFi

Hi

Have you looked at HSBC... I had similar idea of wanting to set things up from UK and was able to set up bank accounts OK...but they are not active until you actually arrive in Australia ..

The banking system is a bit different here .. you will get charged for using cash machines that are not your own banks .. you key in your pin when you pay for goods in the shops .. most shops and garages will give you cash back free of charge.. oh and you pay a service charge for using cheques

the only way free way to move money seems to be by using credit cards..