chrisdnurse

We got our visa!!!!!! Wooohoooo!! (jump up and down...dance...etc etc)

Really dont know much about foreign exchange and all that. We now need to get some money changed. Any advice on how best to do this....?

Any financial experts lurking around...??

Another thing...can we use our debit cards from halifax in Oz...? Im cluless!

Taffaroo

Send it all to me and I will take care of it for you.

chrisdnurse

Im sure you would!!!

Seriously though.......?

Broad Shoulders

I'd hold out as long as you can at the moment. The exchange rate from UK Sterling to Aussie $ is shocking. Try and hold out until it gets closer to 40p again

chrisdnurse

Thanks for that!

So the current rate is- 1 AUD = 0.493119
So I wait until it gets better... and where do I exchange it...? Is there somewhere better than the bank to do it?

and have some euro too so is the euro-$ rate good or bad just now...
1 AUD = 0.564917 EUR

Deancm

I don't think it will be getting any closer to 40p anytime within the next 12 months.

aasmith1957

Look up UKFOREX to find relevent info.Depending on how much you are changing it may cost nothing coming from UK,check how much it will cost for the money going into AU bank account some charge.Rates are better than bank.We are using OZFOREX to change house sale money.Doing it all at once,if over $10,000 no charge here.They also have a thing about not changing less than $2,000.00.You may get a few hundred/thousand dollars more using these companies.
Goodluck with your new life in Australia.

Broad Shoulders

well July last year it was at the rate it is now (around the 48p). By Xmas it was back down to 40p and now it is up to 49p. Sure it ain't likely to change that much in a few weeks but it can go a lot faster than 12 months as we have seen a 40% swing in the last 12

chrisdnurse

Thanks guys

paulry

I haven't thought much yet about the best vehicle for larger amounts of money but for smaller sums just use your UK bank cashcard at Australian cash machines. Nationwide is one of the best. Just make sure that your bank knows that you intend using it in Australia. Oh, and get a small(ish) pot of AU$ cash/travellers cheques from your bank or local Bureaux de Change just to be safe in case you have initial hiccups with your card and make sure you have telephone numbers for you bank's helpline. Good luck with your move!

chrisdnurse

Thanks for that Paulry

paulry

You're welcome.

You might also want to take a look here

chrisdnurse

So...do most people leave a bank account open in UK.... do I just get my address changed to relatives or something...?

spottydog

I have Nationwide and Lloyds TSB accounts with my Aussie address.

paulry

I came across this today.