Right!

Firstly I should point out that I am a complete novice with this financial stuff cos I've never had any money to save/invest or move around before.

We have just sold our house in anticipation of our move to oz within the year.

Can we open an account in Oz even if we don't live there?

Answers on a postcard please . . . would be greatly appreciated!

Thanks

Nic

Yes you can. Any interest you make will attract 10% withholding tax from the Aus tax office (ATO). You're supposed to declare the interest on your UK tax return and you get a tax credit for the amount already paid to the ATO.

Woo Hoo!!!

Good news, thanks for that!

Nic

But it's worth noting you can't take money out of the account until you've been to the bank IN OZ to prove your identity (anti-money laundering stuff) - and that includes moving money between accounts.