neepneeps

Happy New Year Brish Expats people!

My sponsor has been asked to lodge our bond and I am just trying to sort out the money transfer to her today. Im a little confused as I called my bank to arrange this HSBC- they have quoted me £9 + £20 because I dont have a BIC number.

Basically I am confused as to whether the money will go into my sponsors bank in dollars or pounds? if its dollars will they be using a poor exchange rate? Is that how they will be making money?

I have read up on here about Oz:fex etc. but i am not sure why this is preferential etc. Any help please so I can get this organised today would be great - thanks guys! xx

caleb2003

I used ozforex and transferred to them via bank for £25 bacs transfer because i wanted it to go that day, but you can just do a normal transfer for free that takes 3 days to reach ozforex.

The difference in money can be hundreds of pounds on large amounts due to the exchange rate differences.

neepneeps

Thanks! In the end I have just done it with my bank - charged me £21 but wanted the peace of mind that it is going TODAY! .... not very patient you see!

daunted

if its not too nosey can you give me an idea of the amount bond your sponsor had to lodge? im just about to get onto the first rung of the ladder and knowing how aos is worked out would be very useful info to go into all this with.
thanks
mandy

Weasy

For us (2 adults, 2 kids) it was $5000 plus $150 charge to open the bond account.

Lou
xx

daunted

Thanks weasy - is nice to have a rough idea. we too are 2 adults and 2 kids (well if son is allowed to come on my application)