isa

hello,

i have been granted a 4 years visa and would apply for pr shortly. anyway i definitively want to settle in sunny melbourne and would like to transfer my savings in Oz.

what is the best way? i am talking about 10 grand (UK grands).

thanks for your help

isa

Stitch

Hi,

Not too sure about this being the best way with that amount of money but we opened a Westpac One Account, which has a savings and main account. Went onto their website and took it from there. Try this link - http://www.westpac.com.au/internet/p...rseas+accounts

Hope it helps

Cheers

spalen

You can

- Use tranzfers.com they charge 7 pounds per transaction, all online, and very easy.
- use HIFX.COM a reputable international foreign exchange company
- open a bank account with Commonwealth Bank from London as a transfer currency account (or sme other banks)

There are other ways but these are top3 from people on here.

If you use tranzfers can you use my referral :-) to register and I get points!.
http://www.tranzfers.com/refer.asp?r=ijcollins

You compare rates from the 3 of these above and decide which to use.

My favourite is Tranzfers but you chose depending onthe rate they quote. HIFX will haggle but for 10k I wouldnt think they would usuall for 100k they might. TRanzfers you can put the money in their account and buy 10k worth of GB Sterling - then when you get here and have opened an aussie bank account you go back online and hit 'BUY' depending on the rate is ok (or at any other time for that matter) and you get that rate then they deposit the Aussie Dollars within 24hrs into your aussie account. They're great I use them lots.

isa

thanks, that s quite helpful

isa

TrickyTrev

Hi Isa,
When we went we opened a Commonwealth Bank of Australia account before we went through their London branch and they were BRILLIANT. They opened a UK account for us as well as one in Oz so we were ready to go when we arrived! We just had to pop into a branch in Brisbane to show our I.D. and we were given our cash cards for the 'link' style 'hole in the wall' machines. They transferred the cash from the UK account to the Oz one on our instructions i.e we transferred a little at at time as we were monitoring exchange rates - which are really low at the moment if you look. Not saying this is the best way as I don't know them all - but it was fine for us! As I said earlier I can speak from personal experience and the Commonwealth were just excellent. I would recommend them highly to anyone and the same goes for PPS if you are looking to move any furniture out with you!! Hope this helps, Trev.

flip

If you put it in a Nationwide account in the UK I believe you can withdraw it as needed from cashpoints with no charge. Depends what you want to use it for and whether you need a large lump sum over here when you start.

If I'm wrong about the Nationwide account please can someone let me know.

Ta

spalen

Yo are not wrong - most UK bank accounts with a visa debit card will allow you use of an ATM in Aus... but its the exchange rate . Plus you can only take like 1000$ / day so requires some planning if you want to buy something sizable. 1k$ sounds a lot but 10k gbp would take 24 days to get at !

BettyBoop

Hi Flip,

for the Nationwide account don't you need to have/maintain a UK address ? I ask because we have just applied for their credit card, and one of the qualifying questions is that you need to have an address in GB. I had hoped that I could have a paperless billing visa account, but apparently you can't.

joho

If you still live in England you could apply for a Cahoot credit card. You have to have an uk account though as payment is by DD. It is statement less all done online. We still havent told them we have moved and is still under our old address and as they dont send us anything its fine.

Jo

flip

I gave them my mum's address and told them I was travelling in Australia for a couple of years (I'm here on temp visa initially). They were really encouraging and off-duty staff suggested I din't tell them I was actually emigrating.

The definitely have internet banking so I can't see a problem - I think the address is for their security.

BettyBoop

Thanks for the info.will leave rellies address!!
We're going in on a temp visa also
Cheers all

Wol

No, they are quite happy for an Australian address (I've just checked my last statement!)

You might have to open it while stll in the UK though.

Nationwide don't make any extra loading for foreign transactions - that's a 2.75% saving compared with all other credit cards bar one.

Wol

Just don't try and close it though!

I've spent nearly a month both online and by phone trying to close a current and a savings account: every time it's a different person, different instructions. Something has gone badly wrong with Cahoot these last few months: their website keeps coming up with error 0 and messages totally unrelated!

Wave the Sails

Also try www.moneycorp.com