Operating UK Bank / BS Account from Oz
May 30th 2006, 12:10 pm
#1
Just Joined
Thread Starter
Joined: May 2006
Location: Hove, Sussex. (eventually to Bris)
Posts: 6
Operating UK Bank / BS Account from Oz
My situation is that we are set to initiate our application once my missus finishes her ACCA finals in June for accountancy.
I have been thinking about how we'lll operate our finances in Australia (we'll be renting out our place in the UK, so rental income will be arriving in our UK account, and the mortgage being paid out of it).
The Nationwide provide free ATM withdrawls and debit payments abroad and at virtually the same day's official fx rate so it seems sensible to me to operate our existing UK accounts alongside an Australian one that we arrange after we've arrived, and make payments and withdrawls directly from it in the short term.
Does anyone who's made the move out still operate their UK account? Do you have issues running the account (popping in to see the branch manager might be a bit of a tough one..) ?
Am interested to find out.
Rgds,
on3ill
I have been thinking about how we'lll operate our finances in Australia (we'll be renting out our place in the UK, so rental income will be arriving in our UK account, and the mortgage being paid out of it).
The Nationwide provide free ATM withdrawls and debit payments abroad and at virtually the same day's official fx rate so it seems sensible to me to operate our existing UK accounts alongside an Australian one that we arrange after we've arrived, and make payments and withdrawls directly from it in the short term.
Does anyone who's made the move out still operate their UK account? Do you have issues running the account (popping in to see the branch manager might be a bit of a tough one..) ?
Am interested to find out.
Rgds,
on3ill
May 30th 2006, 12:19 pm
#2
Forum Regular
Joined: Dec 2005
Posts: 120
Re: Operating UK Bank / BS Account from Oz
We aren't in Oz yet but are in the same position....you will need to keep a UK account to pay the money into unless you want to take a BACS/CHAPS transfer change every month....and Im guessing your mortgage company won't be happy dealing with Oz anyway....
We have gone for an ANZ account purely because you can open it before you get there and pump some startup money across (plus you'll have an account to give to personel if you get a job straight away)
With Internet banking you shouldn't have any problems managing both and as for Bank Managers I've never even seen one.
https://ola.anz.com/noah/app/dda/wel...sp?apptype=436
(its a shock to be paying banking charges - $5 / mth!)
Matt :scared:
We have gone for an ANZ account purely because you can open it before you get there and pump some startup money across (plus you'll have an account to give to personel if you get a job straight away)
With Internet banking you shouldn't have any problems managing both and as for Bank Managers I've never even seen one.
https://ola.anz.com/noah/app/dda/wel...sp?apptype=436
(its a shock to be paying banking charges - $5 / mth!)
Matt :scared:
Originally Posted by on3ill
My situation is that we are set to initiate our application once my missus finishes her ACCA finals in June for accountancy.
I have been thinking about how we'lll operate our finances in Australia (we'll be renting out our place in the UK, so rental income will be arriving in our UK account, and the mortgage being paid out of it).
The Nationwide provide free ATM withdrawls and debit payments abroad and at virtually the same day's official fx rate so it seems sensible to me to operate our existing UK accounts alongside an Australian one that we arrange after we've arrived, and make payments and withdrawls directly from it in the short term.
Does anyone who's made the move out still operate their UK account? Do you have issues running the account (popping in to see the branch manager might be a bit of a tough one..) ?
Am interested to find out.
Rgds,
on3ill
I have been thinking about how we'lll operate our finances in Australia (we'll be renting out our place in the UK, so rental income will be arriving in our UK account, and the mortgage being paid out of it).
The Nationwide provide free ATM withdrawls and debit payments abroad and at virtually the same day's official fx rate so it seems sensible to me to operate our existing UK accounts alongside an Australian one that we arrange after we've arrived, and make payments and withdrawls directly from it in the short term.
Does anyone who's made the move out still operate their UK account? Do you have issues running the account (popping in to see the branch manager might be a bit of a tough one..) ?
Am interested to find out.
Rgds,
on3ill
May 30th 2006, 12:34 pm
#3
There is no "U" in Qantas
Joined: Dec 2005
Location: Berwick, VIC
Posts: 159
Re: Operating UK Bank / BS Account from Oz
Originally Posted by on3ill
My situation is that we are set to initiate our application once my missus finishes her ACCA finals in June for accountancy.
I have been thinking about how we'lll operate our finances in Australia (we'll be renting out our place in the UK, so rental income will be arriving in our UK account, and the mortgage being paid out of it).
The Nationwide provide free ATM withdrawls and debit payments abroad and at virtually the same day's official fx rate so it seems sensible to me to operate our existing UK accounts alongside an Australian one that we arrange after we've arrived, and make payments and withdrawls directly from it in the short term.
Does anyone who's made the move out still operate their UK account? Do you have issues running the account (popping in to see the branch manager might be a bit of a tough one..) ?
Am interested to find out.
Rgds,
on3ill
I have been thinking about how we'lll operate our finances in Australia (we'll be renting out our place in the UK, so rental income will be arriving in our UK account, and the mortgage being paid out of it).
The Nationwide provide free ATM withdrawls and debit payments abroad and at virtually the same day's official fx rate so it seems sensible to me to operate our existing UK accounts alongside an Australian one that we arrange after we've arrived, and make payments and withdrawls directly from it in the short term.
Does anyone who's made the move out still operate their UK account? Do you have issues running the account (popping in to see the branch manager might be a bit of a tough one..) ?
Am interested to find out.
Rgds,
on3ill
Who pops in to see their bank manager these days?
May 31st 2006, 2:28 am
#4
Forum Regular
Joined: Feb 2004
Posts: 81
Re: Operating UK Bank / BS Account from Oz
We have a few bank accounts! A HSBC and an Intelligent Finance one both in the UK. The IF one is linked to our mortgage. We then have an ANZ account here in Oz which we trasfer back to the UK from every month. It costs $22 per transfer but is really easy. We do all our banking on the internet and have not needed to phone or pop into the branch once in the last 2 years
May 31st 2006, 4:53 am
#5
BE Enthusiast
Joined: Apr 2005
Location: Melbourne
Posts: 629
Re: Operating UK Bank / BS Account from Oz
Just a word of warning - don't expect to keep an Alliance & Leicester account open on moving out here.
We have just had a letter from them demanding that we close our account, despite holding it since 1997 because they will no longer accept non-UK addresses. This is going to cause us some grief because we have the account solely to collect rent from a rental property and pay a number of direct debits/standing orders from. Too costly to administer according to the letter!
Have had no problems with Barclays or Nationwide.
HTH
Rgds,
on3ill[/QUOTE]
We have just had a letter from them demanding that we close our account, despite holding it since 1997 because they will no longer accept non-UK addresses. This is going to cause us some grief because we have the account solely to collect rent from a rental property and pay a number of direct debits/standing orders from. Too costly to administer according to the letter!
Have had no problems with Barclays or Nationwide.
HTH
Rgds,
on3ill[/QUOTE]
