utopia

Not sure what the rules are I have looked through the Australian Customs site... but all I could find is, anything over 10.000 AUD has to be declared.

It doesn't actually tell you if there is a limit to how much physical cash you can carry over?

Would 30.000 pounds in cash be allowed?

I am just curious, as I have heard nightmare stories recently with regards to bank transfers under 50.000 pounds!

Sounds silly but we are considering bringing a cheque, with us... or Bankers Draft... something like that!

PS Also posted this thread on other Sub-Category!

Test

utopia wrote:
    > Not sure what the rules are I have looked through the Australian
    > Customs site... but all I could find is, anything over 10.000 AUD has
    > to be declared.
    >
    > It doesn't actually tell you if there is a limit to how much physical
    > cash you can carry over?
    >
    > Would 30.000 pounds in cash be allowed?
    >
    > I am just curious, as I have heard nightmare stories recently with
    > regards to bank transfers under 50.000 pounds!
    >
    > Sounds silly but we are considering bringing a cheque, with us... or
    > Bankers Draft... something like that!
    >
    > PS Also posted this thread on other Sub-Category!
    >


You can bring in as much as as you want, but you HAVE to declare it if
you have A$10,000 or more in ANY currency.

Don't worry they won't tax you or take you money off you. They will ask
a few question, you fill in a form and thats it.

If you DO NOT declare it and they find it on you. THEY WILL take the
money off you and you have to fight to get it back. They will FINE you
a significant amount of money.

Was watching a program on Sydney airport when I student brought in
US$20k+ and she didn't declare it. They found it and took it off her.
Took her 6 months to get the money back and they fined her A$12k :)

The customs person they interviewed said, that if she had declared it
she could have kept every single penny without any problems :)

KS

milindbe

..and by declaring the money you mean basically going through the red lane and proving the customs officer where you have got that money..

zermanedz

I have used HIFX three times now and they are really quick and effecient and offer a much much better rate than banks. Look at www.hifx.co.uk. You have to set up a trading account first with id but can do that well in advance. You can then transfer your funds to them. Have them sitting in their account go to Oz open an account and have cleared funds in your account the following day. Alternatively you can open an account with westpac online *(can deposit the funds) and then when arrive turn up with id equalling 100 points (speak to bank) and then start spending. That is what I did. trouble is was too easy to get at my money quickly!!!

Alison1967

We move money every month into our Oz bank acct and send it through HSBC i think its called worldpay and they only charge us £9 each time to do it. We have never had any probs too. I'd be too nervous taking a cheque it could so easily be lost couldn't it.

Good luck

Ali

zeoldyank

On Sat, 06 May 2006 15:32:18 +0000, utopia
<member42292@british_expats.com> wrote in
<[email protected]> :

    |>
    |>Not sure what the rules are I have looked through the Australian
    |>Customs site... but all I could find is, anything over 10.000 AUD has
    |>to be declared.
    |>
    |>It doesn't actually tell you if there is a limit to how much physical
    |>cash you can carry over?
    |>
    |>Would 30.000 pounds in cash be allowed?


Hm, at current rates, that would be about
A$74,000.

More exactly Live mid-market rates as of 2006.05.19 10:23:53 UTC.
30,000.00 GBP
United Kingdom Pounds = 73,956.52 AUD
Australia Dollars
1 GBP = 2.46522 AUD 1 AUD = 0.405644 GBP


Would it be "legal"? I dunno, but would it would certainly
attract a whole lot of attention and may even make the National
evening news.

How many security guards do you plan to bring along with you? :-)

Seriously I would not advise it. When I came down from the US in
the sixties carried about $500 in a money belt and worried about
that.

$A 74,000 would attract loads of attention from security people
at the airport if you declared it and even more if you didn't.

You would probably be suspected as being involved in some serious
criminal activiity.

If I was traveling internationally today I might carry $A 200 if
got it at a good rate before I left. Other than that, credit
cards or letter of credit. Or wait until I got here and arrange
Western Union transfer, or a Gold American Express card.

Cash? Nope. Not anywhere near that amount under any
circumstances.

Not only the risk of losing all of it in an very unlikely plane
crash, but simply because the action would be so unusual to
attract a lot of police attention.

Hell, in the USA even a bank withdrawal or transfer of US$10,000
or more would probably invite an FBI investigation. Incidentally,
US $10,000 is only about UK pounds$ 5,332. Live mid-market
rates as of 2006.05.19 10:40:53 UTC.

10,000.00 USD
United States Dollars = 5,332.27 GBP
United Kingdom Pounds
1 USD = 0.533227 GBP 1 GBP = 1.87537 USD

    |>
    |>I am just curious, as I have heard nightmare stories recently with
    |>regards to bank transfers under 50.000 pounds!

If I was trying to transfer 30,000 pounds from the the UK to
Australia I would approach American Express or Western Union,
would want the current rate down to four or five decimal places
per pound, within five minutes and wouldn't pay more than a few
percent to have it in my hands in ten minutes....or would simply
shrug and tell them would go where could get a better
deal....i.e., their main competitor. Wouldn't even think of
fussing around with any "banks".

    >Sounds silly but we are considering bringing a cheque, with us... or
    |>Bankers Draft... something like that!

Again, would advise against it as either would take days, weeks
or even months to clear. A lot can happen in that time. If
couldn't do the transaction in 5 or 10 minutes, wouldn't
bother.Would take the best price in ten minutes that AMEXCO or
Western Union or a credit card company could provide or would
simply keep an eye on the exchange rates and tell them both to go
to hell if that is the best they could do.

However, if had a high value debit card such as American express
and wanted to buy an A$74,000 in 5 minutes, would expect that
amount to be immediately arranged.

Personally, wouldn't even advise this. A cheque, even a bank
check, certified check, bank draft, or whatever is a
non-negotiable instrument here, would take weeks or months to
clear as would have be mailed back to the UK for verification,
and there would be a very hefty transaction fee.

Get a gold or platinium American Express card, or wait until you
get here and have it sent by Western Union, or have a talk with
your banker...but carrying such an amount in cash or even travel
checks is really asking for trouble.

If nothing else, remember that currency rates vary widely. A
couple of weeks ago an Australian dollar was only around 74 cents
US, now is about 77.

If you are talking large amounts of money, this can be extremely
significant.

If I wanted to buy A$10,000 worth of food, or timber, or bricks,
or petrol, I would expect delivery in 24 hours at no transport
cost or would seek a better deal. And I would make this damned
clear to the company concerned, if paying immediately by cash or
credit/ debit card.

So suppose they only make 3% or 5% profit, on the transaction?.
Better than nothing, isn't it?

OK, admittedly am not the easiest person to deal with, but I will
pursue the cheapest price, even if it only costs me a bit of time
on the phone.

Cheers,





If they couldn't do it, I bet I could with a few phone calls.

[email protected]