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Transferring money from Oz to UK bank account (Halifax)

Transferring money from Oz to UK bank account (Halifax)

Old Nov 11th 2009, 7:17 am
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Default Transferring money from Oz to UK bank account (Halifax)

If I end up letting my UK property out before we go, I will need to make monthly transfers back to my UK bank account to help make up the shortfall from the rent as it won't cover my mortgage etc. Is there any way of doing this for free?
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Old Nov 11th 2009, 7:22 am
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Default Re: Transferring money from Oz to UK bank account (Halifax)

Originally Posted by Jen1977ni
If I end up letting my UK property out before we go, I will need to make monthly transfers back to my UK bank account to help make up the shortfall from the rent as it won't cover my mortgage etc. Is there any way of doing this for free?
Not that I know of.

For small amounts to transfer back to the UK, I use Tranzfers (sister company of Ozforex). They charge $15 per transfer. That's the cheapest I know of - banks are much more expensive.

With Tranzfers, once you're set up, you do it all online. (You do transfer money to Tranzfers from your bank account with internet banking without fees.)

Do you really have to do it every month? Can't you do a lump sum transfer once or twice a year?
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Old Nov 11th 2009, 8:27 am
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Default Re: Transferring money from Oz to UK bank account (Halifax)

Originally Posted by ozhappy981
Not that I know of.

For small amounts to transfer back to the UK, I use Tranzfers (sister company of Ozforex). They charge $15 per transfer. That's the cheapest I know of - banks are much more expensive.

With Tranzfers, once you're set up, you do it all online. (You do transfer money to Tranzfers from your bank account with internet banking without fees.)

Do you really have to do it every month? Can't you do a lump sum transfer once or twice a year?
I use tranzfers fairly frequently too, and for the first couple of years I transferred money with them every month. Not found anyone that will do it cheaper, and the customer service is good too.
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Old Nov 11th 2009, 8:36 am
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Default Re: Transferring money from Oz to UK bank account (Halifax)

Originally Posted by Jen1977ni
If I end up letting my UK property out before we go, I will need to make monthly transfers back to my UK bank account to help make up the shortfall from the rent as it won't cover my mortgage etc. Is there any way of doing this for free?
You can just use your oz bank it's only $22 at commonwealth and you can transfwer up to $5000 a day. Bear in mind it's $22 per transfer so the more you transfer the cheaper it is. Also the receiving bank in the UK might charge to receive it. It usually costs me $40 in total to transfer 5 grand. I prefer to use my bank than a third party just in case something goes wrong I have a branch to walk into.
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Old Nov 11th 2009, 5:26 pm
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Default Re: Transferring money from Oz to UK bank account (Halifax)

Great thanks, will look into the tranzfers thingymajigger!
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Old Nov 13th 2009, 12:34 am
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Default Re: Transferring money from Oz to UK bank account (Halifax)

Originally Posted by Jen1977ni
Great thanks, will look into the tranzfers thingymajigger!
Jen,
We are in the same situation, we live here on a temp visa and let out our house in UK and we have a Halifax bank account in UK. I looked at all the options, both using our CBA account here to transfer and the various money transfer entities. By far the easiest and cheapest was Tranzfers, once you have set up your account with them its pretty easy to do every month, like we do and the $15 charge by them is the only charge you will have to pay. I looked at doing it via CBA but they charge $22, then Halifax charge 15 pounds on receipt. Also, with Tranzfers, you can choose the rate to use based on that days rates or let Tranzfers do it for me, I choose the latter as I'm lazy but with the CBA you have no option. Tranzfers takes about 3 days all in to do the transaction.
Also, just for info, you can now do the reverse and transfer from your Halifax account to your bank account here, it does cost 15 pounds but its done within 24 hours!!
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Old Nov 13th 2009, 2:57 am
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Default Re: Transferring money from Oz to UK bank account (Halifax)

Originally Posted by paddyo
Jen,
We are in the same situation, we live here on a temp visa and let out our house in UK and we have a Halifax bank account in UK. I looked at all the options, both using our CBA account here to transfer and the various money transfer entities. By far the easiest and cheapest was Tranzfers, once you have set up your account with them its pretty easy to do every month, like we do and the $15 charge by them is the only charge you will have to pay. I looked at doing it via CBA but they charge $22, then Halifax charge 15 pounds on receipt. Also, with Tranzfers, you can choose the rate to use based on that days rates or let Tranzfers do it for me, I choose the latter as I'm lazy but with the CBA you have no option. Tranzfers takes about 3 days all in to do the transaction.
Also, just for info, you can now do the reverse and transfer from your Halifax account to your bank account here, it does cost 15 pounds but its done within 24 hours!!
Transfer from commonwealth bank to natwest is done in 24 hours. I guess if you plan ahead then this doesn't matter.
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Old Nov 13th 2009, 6:09 am
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Default Re: Transferring money from Oz to UK bank account (Halifax)

If you use Xe.com there is no per transaction charge for the transaction and the exchange rate is very competitive, certainly better than the banks.
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Old Nov 13th 2009, 6:48 am
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Default Re: Transferring money from Oz to UK bank account (Halifax)

Originally Posted by harrip
If you use Xe.com there is no per transaction charge for the transaction and the exchange rate is very competitive, certainly better than the banks.
So how do they charge instead?
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Old Dec 2nd 2009, 1:43 pm
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Default Re: Transferring money from Oz to UK bank account (Halifax)

I am moving from the UK to Aus and have used Exchange4free a fair bit over the last few months (depending on what the rate has been). Found them very efficient, hassle free and the money reached my Aus account within a few days. I am sure they are just as good transferring money from Aus to the UK.
As SpecialK81 says there are no fees attached and the rates they quote beat anywhere else I have looked at!!
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Old Dec 2nd 2009, 1:56 pm
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Default Re: Transferring money from Oz to UK bank account (Halifax)

Originally Posted by specialK81
I use a Exchange4free to send money from the UK to Oz, their rates are really good and they don't charge any fees
Their fees must be built into the conversion rates. Nobody does anything for free
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Old Dec 2nd 2009, 2:53 pm
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Default Re: Transferring money from Oz to UK bank account (Halifax)

Their fees must be built into the conversion rates. Nobody does anything for free

Go onto their website and see for yourself. Like I said in my post the rate is the best I have seen compared to banks, the post office etc and there has never been a fee that has been charged to me.

www.exchange4free.com.au
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Old Dec 2nd 2009, 3:49 pm
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Default Re: Transferring money from Oz to UK bank account (Halifax)

I took a look and they charge you £4 for each transfer under £200 and the exchange rate is only $1.75.
HIFX dont seem to charge for regular transfers and the rate is the buisness exxhange rate of today of $1.79.
Sure someone will correct me about that if I am wrong.
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