weenie

Hey everyone.

Few Q's for you.

1. Does anyone know the best way to transfer funds from UK to Aus bank? I would think that banks charge quite a bit of money to transfer money, maybe there are companies out there that people know of that do it for you at a cheaper cost? Also, is it true I would be taxed on money coming into my Aus account? Any advice appreciated!

2. Do UK PCs/home computers work in Australia?

Thanks & Happy new Year to All

Kiwipaul

A lot of people do use money transfer companies but I just use a normal bank. They charge 25 pounds for IMT and they use the current exchange rate. It's the exchange rate which is the big difference as different companies use different rates but I've found the difference not worth the bother.

It's more important to watch the exchange rate and pick your time to transfer when the rate is in your favour than try and get another $500 on a $100,000 transfer.

Yes your UK computer will work fine down here.

mlbonner

Depends how much you're transfering.... I've only ever transfered a few thousand at a time (no house to sell) so had no real bargaining power to get a preferential rate. I've used www.tranzfers.com every time ($15 fee). Once you're set up it only takes about a minute to complete the transfer.

weenie

Brill, thanks for that, do they have quite a good exchange rate normally? Did you register with your australian address or UK one before you left the UK?

Thanks again

suecroft

If you open an account with Commonwealth Bank of Aus - Immigrants account - they do the first transfer FREE !!
Plus you can open the account in London then they do all the work to transfer it to Oz when you go.

wmoore

Yes. You just need a new kettle lead. Apparently there can sometimes be an issue with CRT screens (the regular type, similar to TV's) but I belive this is very rare.

soapy©

does that mean your pc might start to whistle when it overheats

Bix

There's trouble brewing here.

bondipom

They are like heroin dealers. First try is free but here on in you'll get charged for breathing. Commonwealth charges are a bit silly. Some say it is free if you have $20,000 with them. You'll then be losing the interest that money would earn you in HSBC or ING Direct.

wmoore

Well the alternative is it just clicks off and you can't turn it back on until it's cooled down. And you've finished your tea.

mlbonner

I did it in OZ, but I don't think it matters. You just have to email/send/fax them some ID for your first transfer. The exchange rate is good for the comparitively small amounts I send, .01 here and there wouldn't make much difference for me.