using HSBC for bond money
Jun 14th 2004, 7:23 am
#1
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Thread Starter
Joined: Apr 2004
Location: Australia
Posts: 19
using HSBC for bond money
Hi Everyone,
I'd be grateful for any advice you can give me about my plan.
My situation is : I'm going to apply for SIR visa in July & will have to eventually lodge AUD $100K bond if successful. I'm thinking that I might exchange some of the money into AUD$ soon, while the exchange rate is good through HIFX. I've phoned London to get HSBC oz online savings a/c forms to open account. I would then transfer the AUS$ to my HSBC oz account & leave it to get the interest (4.5% same as my a/c here).So when the bond is requested I can transfer it from my a/c to whichever govt. treasury dept.is best at the time.
I think it may be a good idea; I know I might be getting a bit ahead of myself, but knowing my luck when I come to pay the bond in 6 months time the exchange rate will probably be bad.
Has anyone else done it this way, or thinking of doing this ?
Any advice / ideas would be appreciated.
Thanks in advance,
Tedster
I'd be grateful for any advice you can give me about my plan.
My situation is : I'm going to apply for SIR visa in July & will have to eventually lodge AUD $100K bond if successful. I'm thinking that I might exchange some of the money into AUD$ soon, while the exchange rate is good through HIFX. I've phoned London to get HSBC oz online savings a/c forms to open account. I would then transfer the AUS$ to my HSBC oz account & leave it to get the interest (4.5% same as my a/c here).So when the bond is requested I can transfer it from my a/c to whichever govt. treasury dept.is best at the time.
I think it may be a good idea; I know I might be getting a bit ahead of myself, but knowing my luck when I come to pay the bond in 6 months time the exchange rate will probably be bad.
Has anyone else done it this way, or thinking of doing this ?
Any advice / ideas would be appreciated.
Thanks in advance,
Tedster
Jun 14th 2004, 7:43 am
#2
Banned
Joined: Jan 2004
Location: Morayfield - The Posh Part
Posts: 10,138
Re: using HSBC for bond money
Originally posted by tedster
Hi Everyone,
I'd be grateful for any advice you can give me about my plan.
My situation is : I'm going to apply for SIR visa in July & will have to eventually lodge AUD $100K bond if successful. I'm thinking that I might exchange some of the money into AUD$ soon, while the exchange rate is good through HIFX. I've phoned London to get HSBC oz online savings a/c forms to open account. I would then transfer the AUS$ to my HSBC oz account & leave it to get the interest (4.5% same as my a/c here).So when the bond is requested I can transfer it from my a/c to whichever govt. treasury dept.is best at the time.
I think it may be a good idea; I know I might be getting a bit ahead of myself, but knowing my luck when I come to pay the bond in 6 months time the exchange rate will probably be bad.
Has anyone else done it this way, or thinking of doing this ?
Any advice / ideas would be appreciated.
Thanks in advance,
Tedster
Hi Everyone,
I'd be grateful for any advice you can give me about my plan.
My situation is : I'm going to apply for SIR visa in July & will have to eventually lodge AUD $100K bond if successful. I'm thinking that I might exchange some of the money into AUD$ soon, while the exchange rate is good through HIFX. I've phoned London to get HSBC oz online savings a/c forms to open account. I would then transfer the AUS$ to my HSBC oz account & leave it to get the interest (4.5% same as my a/c here).So when the bond is requested I can transfer it from my a/c to whichever govt. treasury dept.is best at the time.
I think it may be a good idea; I know I might be getting a bit ahead of myself, but knowing my luck when I come to pay the bond in 6 months time the exchange rate will probably be bad.
Has anyone else done it this way, or thinking of doing this ?
Any advice / ideas would be appreciated.
Thanks in advance,
Tedster
If you have the dosh already, why not lodge NOW with a "fix that exchange rate" expert, put a substantial deposit with them and leave in your UK bank account until requested.
