Smudger82

Before anyone shouts at me, I have done some Googling already. I just wondered if anyone has any tips for exchanging a few tens of thousand of GBP in to AUD.

I know, I am going to get screwed on the exchange, but needs must.

Anyone know of any good rate comparison websites or general tips?

Cheers

Bix

Ozforex offered the best rates and excellent service when I transferred amounts both ways over a couple of years.

Kalenge

Yep, I'd also vouch for Ozforex. Don't think you'll find anything much better.

Sherlock Holmes

Have to agree.

Still Game

I've used Transferz for about 5 years now and am happy with them. Costs £7 or $15 to transfer and rate is pretty good. Haven't used Oxforex tho - are they affiliated with Transferz?

Alternatively, when we visit Australia we use a Travelex Money Card (cash passport). You load this car (can do by internet banking) with pounds and they exchange it to AUD. The rate has been far the best I've ever found and you don't get charged any other fees as the money is in AUD. You don't get charged to transfer money from UK to AUD. You use it wherever you see a VISA sign and there's no fees for ATM withdrawal.

The only fly in the ointment is that you need to either collect the card or have it sent - to an address in the UK. Unless you know of someone who could do this for you and send it over? You receive a pin which is sent out separately and create your own password. You can top it up as much as you like with no charges and the money is usually available within 24 hours. You can access your statement online. It’s not a credit card. Oh the maximum is £2.5k I've just realised, however you coudl use a few cards or just keep topping up every day until you reach the limit you want to transfer.

Just a thought....

Sherlock Holmes

Yep, tranzfers and ozforex are all part of McQuarie. Usual advice is tranzfers for smaller amounts, ozforex for larger (better rate).

Bix

Yep, same company.
Transferz for small amounts / Ozforex for large amounts.
I think the cut off was $2000.

tum

Also used Ozforex a couple of times, good rates and great service. Twice for large amounts and twice for smaller amounts. Fingers crossed for a better GBP/EURO - AUD rate!

Dreamy

As has been mentioned - ozforex are very competitive. For very large sums of money, ring them up rather than going the online route - you can negotiate a better rate that way.

Bix

Next time you have a very large sum give me a call instead.

Dreamy

My days of large sums are well in the past, unfortunately

And even then, the very large sum we were hoping for didn't materialise. Life's a bitch sometimes