Hi All,

Posted a while back asking for some advice with the cliche Electrician to Aus pathway. Glad to say we're a few steps closer, skills assessment done, EOI submitted, invite to apply for 189 and application submitted, now... just waiting. Until then, I'm wondering if anyone can help with some queries regarding financials, such as:

1. UK Bank Current/Savings Accounts, I've read that certain banks are decent at keeping overseas accounts open. However, what was your approach during the limbo stage, i.e. left old house behind but no current abode? Also, is it a hassle if you want your money out of your account whilst abroad?
2. Stocks and Shares ISA, I've had one for a few years now. I've made contact with them and they say I can keep it open, just can't continue to contribute. However, also read that it won't remain under the UK tax wrapper and any gains after being in Aus would be taxable in Aus. Anyone else got an ISA or cash out prior to travel?
3. Physical precious metals, anyone transport any gold with them, coins/jewellery? Assuming jewellery is straight forward, wear it and essentially hassle free. However, coins seem to potentially introduce declaration/tax issues. Anyone dealt with this before?
4. How did you transfer cash to Aus from UK, was looking at Atlantic Money, on the surface appear to be a good deal but until I actually use them, no idea.

Here's to the new year... Hopefully, eventually, in Aus

Can't help with a lot of it, but some basic stuff - Barclays won't let you keep a UK account open on an Aus address. I bank with Lloyds however, and they were great, kept my account going the whole 19 years I was away, with an Aus address on on it. So if necessary, move your account as soon as you can to somewhere that lets you keep it open, and definitely before you move. Keep it open after you move! If you close it, you won't be able to open a UK one from abroad, which can cause issues if you have UK rents, pensions etc. Its also very handy when visiting.
As for access to it, just make sure you're registered for online banking.

As for moving cash between Aus and the UK, many companies out there. I personally use OzForex, who are now OFX. Been using them in both directions for about 25 years now, great service.

Thanks for the reply, I'll have a look into Lloyds also read that HSBC are quite good.

What was your approach to setting up the Aus bank account and sending money for your initial move. Open up in UK and send money? or do you need to do all of that in Aus?

I had opened an account in Aus while visiting, before I moved - I was marrying an Aussie and we opened a joint account, and let me have an account alongside it. I didn't have much cash to move but what I did have stayed in the UK till I got to Aus, the I used Tranzfers, which is now part of OFX.
The big Aus banks certainly used to open accounts through their London branches, before you actually move. From what I've seen on here, they let you deposit money, but you can't withdraw till you get to Aus an produce various bits of ID - you will get used to doing that, you can't cross the road without ID these days over there! Check out ANZ, Westpac Commonwealth Banks and see what they offer.
Keep your UK credit cards ging for a while too - another reason to try & maintain a UK bank account. Life in Aus is tough without credit cards and you may not find it easy to get Aussie ones at first, without proof of income etc.