GoingToOz

Hello,

I am trying to work out the best way of taking my cash with me when I go - it won't be millions, but I am hoping to take about £20k.

What methods have people used - which way is best? My bank advised me to get it all converted into a A$ bank draft before I go, which can then be paid into an Australian bank account with no charges. Is this a good idea, or are there better ways of taking it (ie without too many charges).

Thanks.

Bordy

You should pm Hup, hes a bank manager here in Melbourne.

Centurion

Just a thought but if you did that you would be at the mercy of your banks interest rate and they would presumably charge you a couple of quid for the international money order as well. You could always open an AU account now and then use any of the exchange rate providers to do the actual cash bit - but that would enable you to shop around for a better rate than your own bank. Each cent to GBP on the rate on 20k is worth a couple of hundred bucks.

GoingToOz

Thanks for that both - Karma xx

How do the exchange rate companies work? I am completely unknowledgeable in this area. All I want to do is take my pennies with me without losing too many of them on the way!