Brav

My computer is running terribly slow so I can't use the search function without taking forever looking. Apologies in advance if this topic has been beaten to death

Anyway, when moving to Aus, how exactly do I transfer all of my money over? I'll have a little bit on me in cash, but what about the rest? I don't think I can open an Australian bank account without actually being there to transfer to, can I? Do I just ring my home bank when I have an Aus bank account and have them transfer it over? What is the process?

JimDavid1972

Hi Brav,

I hope you are well. Yeah, i think you should take a little bit of cash with you, just to get you going when you get there. Then when you are there, set up an account in australia, then get the money sent to that account. I would avoid getting your UK bank to send over the funds to your australia bank, as they will take the mick when it comes to the exchange rate and the costs of sending, so definately look at the foreign exchange companies.

Hope that helps.

Jim

Griffangus

Hi Brav,

I looked into opening WestPac accounts whilst in the UK and this seemed to be a straight forward process. Below is the name and number of the contact and the web address too.

Jeremy - 0207 621 7211

http://www.westpac.com.au/internet/p...igrant+banking

I also opened (for free) an OzForex account online. I have even made my first transfer and it took two days and the funds were cleared and ready for use in Oz. Your first two transactions are fee free and after that anything under £3k has a flat fee of £7. The rate is pretty competitive too.

https://secure.ozforex.com.au/fx/deal.asp?action=start

Hope this helps.

Griffangus

JimDavid1972

Hi Griffangus...

Could you possible give me the rate and date of your last trade please? Just want to see what the rates are like compared to my current company.

Thanks

Pollyana

Have a look at www.tranzfers.com - they have a conversion table on the main page with their current rates, and are the same company as Ozforex.

Wol

Pointless, unless you compare at exactly the same moment. The rates change by the minute, and even a cent makes quite a difference when you are talking big sums.

Griffangus

Hey Jim,

I agree with Wol that this is a little futile as this is historic but.....

1.8013 on 22/12/09.

JimDavid1972

Oh, the only reason i asked for the historic rate, is because the company im using, will give me the rate they would have given me on the date and time... just as a comparison...

JimDavid1972

just got a comparison anyway... for those that are interested...
at the high of the day... would have been able to get around 1.82 and low 1.8150 ... thats on amounts of around £1500... i guess... it aint a massive difference... ive used the company (Currencies 4 you) for quite a while... but im always jus checkin if i can get a better rate.. so if you know any other companies offering decent rates.. please let me know...