bills to pay in the uk, open an account before leaving?
#1
bills to pay in the uk, open an account before leaving?
Hi, i have a friend who is leaving the uk next week but will have bills to pay in the uk while living in oz. Can he open an account in the uk that he can pay money into in oz without it costing him a fortune in conversion fees etc?
Jazzys
Jazzys
#2
Just Joined
Joined: Apr 2010
Posts: 11
Re: bills to pay in the uk, open an account before leaving?
Unless he's earning money in the uk he will still have to convert his AUD into GBP anyhow won't he?
Why doesn't he just transfer the money to a friend to pay or pay direct from his oz account?
Good luck!
Andy
Why doesn't he just transfer the money to a friend to pay or pay direct from his oz account?
Good luck!
Andy
#6
Guest
Posts: n/a
Re: bills to pay in the uk, open an account before leaving?
I opened one with HSBC, for my daughter, the day before we left the UK
#7
Re: bills to pay in the uk, open an account before leaving?
As it happens he'd love to do a runner as he has about 15 grands worth of debt, but he also owns a house there that he has rented out. I'm quite sure the bailiffs would have his house off him in no time.
He was just wondering basically if he could have a bank account that he could operate from oz without copping too many conversion fees or whatever.
He still has an income in the UK from his rented property.
Would an HSBC account be the way to go for such a situation?
Jazzys
He was just wondering basically if he could have a bank account that he could operate from oz without copping too many conversion fees or whatever.
He still has an income in the UK from his rented property.
Would an HSBC account be the way to go for such a situation?
Jazzys
#8
Guest
Posts: n/a
Re: bills to pay in the uk, open an account before leaving?
Any account will incur conversion fees for money being transferred between countries, but this can be keep low with various options available.
Paypal being one, with only a conversion margin of about 1.5%
Tranzfers another with a $7 fee plus a small conversion margin.
HSBC is good as they allow you to live in Australia with no account restrictions, and send statements here.
I am sure some other banks do the same, but I also know of some that do not.
Paypal being one, with only a conversion margin of about 1.5%
Tranzfers another with a $7 fee plus a small conversion margin.
HSBC is good as they allow you to live in Australia with no account restrictions, and send statements here.
I am sure some other banks do the same, but I also know of some that do not.
#9
Re: bills to pay in the uk, open an account before leaving?
so can he transfer money from say a westpac here to his hsbc and only be hit for conversion fees?
Jazzys
Jazzys
#10
Re: bills to pay in the uk, open an account before leaving?
Nationwide allow you to change your address to Australia. I suggest your friend opens an account with them in case they can't find anything else. They are slow to transfer funds but you can bank on line which is a great help.
#11
Re: bills to pay in the uk, open an account before leaving?
I worked with someone who did just that to Australia, he arranged a big loan with his bank on the strength of his mortgage, drew it out in cash (to pay cash for a car). This was on a Friday, he left work that afternoon, and never returned, he had sold all his furniture over the previous weeks, leaving just some camping stuff in his house. First we knew was he just didn't turn up at work, no phone call or anything. After a couple of days someone went to his house to find it deserted. We found out about the money when the bank contacted his workplace to find out anything they could. Two months later the person who had been his boss over here got a letter from Australia asking for a reference, which was declined! He had worked in Australia before so I assume he already had the paperwork, or he had been doing that quietly without anyone knowing.