Changeover banking advice Stirling - Aus$
Dec 17th 2002, 3:20 am
#1
Forum Regular
Thread Starter
Joined: Jun 2002
Location: South Australia
Posts: 108
Changeover banking advice Stirling - Aus$
Can anyone please advise on the following situation from experience?
I have forward purchased some Aus dollars for which payment is due in February 2003 which is about the same time that we plan to move to Aus. The question is, is there a way of 'actuating' a bank account in Aus without actually being there.
I've opened an account with the commonwealth bank (against some advice as other banks apparently offer cheaper rates etc) and been given an account number, but I'd be much happier paying money into an account I already have a chequebook for.
Not that I don't trust the banks or anything, but I would just feel more secure that transferring money into an account that I can 'instantly' withdraw from.
Any advice from experienced migrants would be welcome.
Thanks,
MAX
I have forward purchased some Aus dollars for which payment is due in February 2003 which is about the same time that we plan to move to Aus. The question is, is there a way of 'actuating' a bank account in Aus without actually being there.
I've opened an account with the commonwealth bank (against some advice as other banks apparently offer cheaper rates etc) and been given an account number, but I'd be much happier paying money into an account I already have a chequebook for.
Not that I don't trust the banks or anything, but I would just feel more secure that transferring money into an account that I can 'instantly' withdraw from.
Any advice from experienced migrants would be welcome.
Thanks,
MAX
Dec 17th 2002, 5:38 am
#2
Guest
Posts: n/a
Re: Changeover banking advice Stirling - Aus$
In max kilby wrote:
>
> Can anyone please advise on the following situation from experience?
>
> I have forward purchased some Aus dollars for which payment is due in
> February 2003 which is about the same time that we plan to move to Aus.
> The question is, is there a way of 'actuating' a bank account in Aus
> without actually being there.
HSBC will let you open accounts from the UK.
Be careful with "bank accounts", if you mean current/cheque accounts.
AFAIK, those accounts incur regular in-credit charges unlike here in
the UK. You're better off sticking with a charges-free savings account
until you reach Oz, or open the banking account the week before you
fly out.
You can withdraw from an HSBC savings account using the ATM card.
I'd recommend you read the finance section of this book:
"Living and Working in Australia" by David Hampshire.
http://www.amazon.co.uk/exec/obidos/.../robsphotos-21
--
http://www.imdb.demon.co.uk/Aus/links.html
>
> Can anyone please advise on the following situation from experience?
>
> I have forward purchased some Aus dollars for which payment is due in
> February 2003 which is about the same time that we plan to move to Aus.
> The question is, is there a way of 'actuating' a bank account in Aus
> without actually being there.
HSBC will let you open accounts from the UK.
Be careful with "bank accounts", if you mean current/cheque accounts.
AFAIK, those accounts incur regular in-credit charges unlike here in
the UK. You're better off sticking with a charges-free savings account
until you reach Oz, or open the banking account the week before you
fly out.
You can withdraw from an HSBC savings account using the ATM card.
I'd recommend you read the finance section of this book:
"Living and Working in Australia" by David Hampshire.
http://www.amazon.co.uk/exec/obidos/.../robsphotos-21
--
http://www.imdb.demon.co.uk/Aus/links.html
Dec 17th 2002, 8:49 pm
#3
Forum Regular
Thread Starter
Joined: Jun 2002
Location: South Australia
Posts: 108
Re: Changeover banking advice Stirling - Aus$
Originally posted by Rob
HSBC will let you open accounts from the UK.
HSBC will let you open accounts from the UK.
Dec 17th 2002, 9:58 pm
#4
BE Enthusiast
Joined: Nov 2002
Posts: 310
In the 'good old days' when there was am Aussie Consulate in Lever St Manchester (gone now), they used to have copies of a publication called Australian Outlook, in those days this paper could be picked up free of charge by visiting the Consulate ...
anyway this publication used to have lots of advice and/or advotorials from Aussie banks targetted specifically at would be migrants ... advising on various matters like establishing bank accounts.
I see there is a website for this mag http://www.consylpublishing.co.uk/ao.htm
'course back then there wasn't really an internet ... now you can do a lot online.
anyway this publication used to have lots of advice and/or advotorials from Aussie banks targetted specifically at would be migrants ... advising on various matters like establishing bank accounts.
I see there is a website for this mag http://www.consylpublishing.co.uk/ao.htm
'course back then there wasn't really an internet ... now you can do a lot online.
Dec 18th 2002, 12:16 am
#5
BE Enthusiast
Joined: Feb 2002
Location: Rockingham, WA
Posts: 917
Hi Max
I would be careful with the HSBC...the branch in the UK told us we'd have no problems drawing on our english account if we went into a branch of the HSBC in Perth...WRONG!!!!
We 'bought' our rate from Halewood and decided to open an Australian bank account when we got out here (didn't like the idea of them having our money either!!) so thought that this option would be ok, drawing money out as and when we needed it until the tranfer went through with Halewood. However, the HSBC is not geared up for this at all. The manager of the branch in Perth says this happens all the time (the english HSBC advising people that they can do this) and that all we could draw out was the maximum allowed from the hole-in-the-wall machine!!
We were left stranded without the bulk of our money on the say-so of some doylem in the UK....the HSBC!! The upshot of it was, although we were in the HSBC in Perth, armed to the back teeth with id, and the manager was speaking to the HSBC in the UK, they would not allow us to draw out any money...however they were prepared to send two lots of $5,500 to the Western Union Transfer thingymewhatsit!!!
So, instead of being able to get our money securely through the bank, we had it wired to a western union transfer office (which was a local NEWSAGENCY!!!) who them counted out the cash in front of a shopping mall full of people
Rob is right with the Aussie account info though, we were told by the ANZ (who we now bank with...guess why we didn't stick with the HSBC??) to get a savings account as it incurs the least amount of charges...but you don't get a chequebook (I'm sure they said they charge you for every cheque you write). All in all, we are very happy with the service the ANZ have provided so far...cannot recommend them highly enough (mind you, after the fiasco with the HSBC the only way was up!!).
love sophia xx
I would be careful with the HSBC...the branch in the UK told us we'd have no problems drawing on our english account if we went into a branch of the HSBC in Perth...WRONG!!!!
We 'bought' our rate from Halewood and decided to open an Australian bank account when we got out here (didn't like the idea of them having our money either!!) so thought that this option would be ok, drawing money out as and when we needed it until the tranfer went through with Halewood. However, the HSBC is not geared up for this at all. The manager of the branch in Perth says this happens all the time (the english HSBC advising people that they can do this) and that all we could draw out was the maximum allowed from the hole-in-the-wall machine!!
We were left stranded without the bulk of our money on the say-so of some doylem in the UK....the HSBC!! The upshot of it was, although we were in the HSBC in Perth, armed to the back teeth with id, and the manager was speaking to the HSBC in the UK, they would not allow us to draw out any money...however they were prepared to send two lots of $5,500 to the Western Union Transfer thingymewhatsit!!!
So, instead of being able to get our money securely through the bank, we had it wired to a western union transfer office (which was a local NEWSAGENCY!!!) who them counted out the cash in front of a shopping mall full of people
Rob is right with the Aussie account info though, we were told by the ANZ (who we now bank with...guess why we didn't stick with the HSBC??) to get a savings account as it incurs the least amount of charges...but you don't get a chequebook (I'm sure they said they charge you for every cheque you write). All in all, we are very happy with the service the ANZ have provided so far...cannot recommend them highly enough (mind you, after the fiasco with the HSBC the only way was up!!).
love sophia xx
Dec 18th 2002, 5:42 am
#6
Forum Regular
Joined: Oct 2002
Location: Perth, WA
Posts: 88
Hi,
Agree totally with Sophia, HSBC are useless, well the one in our home town are, did not have a clue and basically said we could not transfer to a OZ bank account until we had banked with them for one year, which at the time was ok, then a few days later they phoned and said they could not do it after all!! Bloody useless.
With Commonwealth bank now, and they have ben very good, no hassle, very straightford and very professional.
Love Jox
Agree totally with Sophia, HSBC are useless, well the one in our home town are, did not have a clue and basically said we could not transfer to a OZ bank account until we had banked with them for one year, which at the time was ok, then a few days later they phoned and said they could not do it after all!! Bloody useless.
With Commonwealth bank now, and they have ben very good, no hassle, very straightford and very professional.
Love Jox
Dec 19th 2002, 6:30 am
#7
Guest
Posts: n/a
Re: Changeover banking advice Stirling - Aus$
I also think Commonwealth Bank is great. I have banked with them for over
ten years now in Australia (but lived in UK for 5 years).
When we sell our flat we want to put the proceeds into an account which we
can then access in Australia, so we are setting up a Commonwealth Bank
account here, in preparation.
The Commonwealth Bank offers a bank account in the UK (that you apply for
via the post). You can deposit your funds at any time in the UK, and
nominate an exchange rate OR date at which you want the funds transferred to
Australia. So if you are flexible on time and want to get the best exchange
rate possible (eg $3 to £1), you can nominate this rate and wait for it to
happen.
You nominate which major city you'd like to collect the funds from, when you
arrive in Australia.
Their website is
http://www.commbank.com.au/personal/...oAustralia.asp
Cheers,
Mags.
"max kilby" wrote in message
news:[email protected]...
> Can anyone please advise on the following situation from experience?
> I have forward purchased some Aus dollars for which payment is due in
> February 2003 which is about the same time that we plan to move to Aus.
> The question is, is there a way of 'actuating' a bank account in Aus
> without actually being there.
> I've opened an account with the commonwealth bank (against some advice
> as other banks apparently offer cheaper rates etc) and been given an
> account number, but I'd be much happier paying money into an account I
> already have a chequebook for.
> Not that I don't trust the banks or anything, but I would just feel more
> secure that transferring money into an account that I can 'instantly'
> withdraw from.
> Any advice from experienced migrants would be welcome.
> Thanks,
> MAX
> --
> Posted via http://britishexpats.com
ten years now in Australia (but lived in UK for 5 years).
When we sell our flat we want to put the proceeds into an account which we
can then access in Australia, so we are setting up a Commonwealth Bank
account here, in preparation.
The Commonwealth Bank offers a bank account in the UK (that you apply for
via the post). You can deposit your funds at any time in the UK, and
nominate an exchange rate OR date at which you want the funds transferred to
Australia. So if you are flexible on time and want to get the best exchange
rate possible (eg $3 to £1), you can nominate this rate and wait for it to
happen.
You nominate which major city you'd like to collect the funds from, when you
arrive in Australia.
Their website is
http://www.commbank.com.au/personal/...oAustralia.asp
Cheers,
Mags.
"max kilby" wrote in message
news:[email protected]...
> Can anyone please advise on the following situation from experience?
> I have forward purchased some Aus dollars for which payment is due in
> February 2003 which is about the same time that we plan to move to Aus.
> The question is, is there a way of 'actuating' a bank account in Aus
> without actually being there.
> I've opened an account with the commonwealth bank (against some advice
> as other banks apparently offer cheaper rates etc) and been given an
> account number, but I'd be much happier paying money into an account I
> already have a chequebook for.
> Not that I don't trust the banks or anything, but I would just feel more
> secure that transferring money into an account that I can 'instantly'
> withdraw from.
> Any advice from experienced migrants would be welcome.
> Thanks,
> MAX
> --
> Posted via http://britishexpats.com
