Sical

Jus a little info for u guys-

I have jus agreed an forward contract with ozforex, and got 2.4502, had to pay a 5 % deposit and hav to tansfer rest in 6 months ( u could do 12 months with a 10% deposit) I gained an extra .0111 as money will be in aus and they have higher interest rate, so if i need money before 6 months then will loose this little etxra, but hey - I had budgeted on exchange rate of 2.34,

I had not realised that I could take advantage of this new higher exchange rate as we do not yet hav aus bank account nor had access to rest of our dosh.

so hopefully u guys may also be able to take advantage of this rate - yes it may go higher , but I have jus gained quite a few thousand pounds!

so thats me smiling now all day!

DunRoaminTheUK

Hiya.

Did you liase with the London office of OzForex to get this done?

Cheers.

Sical

I called 08456861950 wich is uk office, good luck!!

DunRoaminTheUK

My problem is deciding how much to convert to AUD and how much to leave in UK funds (account)? How did you go about making this decision?

Cheers.

steve`o

wow girl that a fabulous rate well done

we got 2.4255 two days ago

all the best steve

touchingcloth

Well done!
Lets hope for you that in 6 months you're not wishing that you hadn't locked in at $2.45,when hopefully for me the rate will be $2.75!!!!

Sical

Guess it depends on wat ur needs are, and wen u want ur dosh, but as I said they will just have 5 % of our money until we pay rest 25 september, so unless u need aussie money before then, and if u do then u will jus loose the .0111 extra on top which is the extra interest u get.

SO I have moved all my money, - tho i may have a couple of grand nearer wen we go end june early july, but will need that until we can access our aus bank, wen we land in beautiful Perth, - gona open with westpac, as recommended by ozforex, have application form, and migrant info pac if ur interested.

Wen u planing on going?

Sical

yeah thats wat jus been saying to my man - but the way i see it - i have jus gained - as i had budgeted on 2.34 exchange, so if it goes higher, - its not bout wat i have lost its bout wat i gained,- ( god u can tell i tx alot,- really i can spell!!!!)

But dont worry if u get 2.75 - will let u buy me a drink so u can rub it in
x

steve`o

i hope this happens for you mate
on the other side it could just as easily go back down to 2.33 as per early last week

regards Steve

steve`o

currentley

Currency you are selling: GBP100,000.00
You Receive ------------ Interbank Rate

AUD 0.4100 (2.4389) AUD 243,890.00 ----------- 0.4082 (2.4495)

Sical

Thanxs steve- well done on ur rate too,- must admit reading this site - has helped me make up my mind on certain things re the dosh - hence my post - hope to help others gain also -

jus wanna say ur post have kept me grinning along the way - keep it up!
( the great posts - that is )

x

steve`o

glad to be of some use then

regards steve

tabby

Don't forget that you can only transfer money into Aus for 6 months after you arrive tax ree

spalen

Tabby - Im not sure thats correct. Its been mentioned on here a number of times but not neccessarily ever seen to be true.

Its more to do with how the money grows - like taxationof the capital growth if you left it in a bank account in UK you have to pay somebody tax on the interest - but they wont tax the whole lot as a lump sum.

DunRoaminTheUK

The exchange rate is definitely fluctuating a lot today.

Our Rate GBP/AUD (AUD/GBP) AUD amount Counterparty Time checked
:: 2.4400 (0.4098) 219,600.00 OzForex 25/03/2006 01:22