transfering funds
 

Hi,

I'll be coming to Mel in next month. I need to transfer my money from my local bank to an Australian bank account. Can anyone recommend some good banks for me to open an account with low banking charges and high facilities.

Also im planning to withdrw my money from my local banks ATM card while being in OZ. BUt i need to know whethr this has highr bank charges or any exchange rate lose

Our country rules prohibits direct transfer of money from account to account and anyway it's a cumbersome process

Pls help me to proceed

Re: transfering funds
 

Hey guys can anyone pls update me regarding this

Thanx

Re: transfering funds
 

I think the banks in Australia are pretty much the same...robbing gits!

Usual is a monthly fee of around $5 but some have gotten that down.

You will be charged for using an ATM that does not belong to the bank you are with, ie if you are with ANZ you will be charged for using a Suncorp machine - usually around $2 each time.

Re: transfering funds
 

Thanx alot. Will it be the same for using an ATM machine to withdraw money from a foreign bank?

Also you have any idea whether this method of withdrawing overseas funds make a exchange rate loss than in the normal transactions?

Re: transfering funds
 

I am not sure if this is what you are referring to and so aplogies if i have picked you up incorrectly - whatever you do try to avoid using a UK banks ATM card to withdraw money from an Australian bank. Not only will you get hit with significant transaction fees for doing so, but you will also be given poor exchange rates by your UK bank.