Fullyladen Posted June 21, 2011 Report Share Posted June 21, 2011 Hi Looking for some advice on Australian bank accounts I am moving out end July/ begin Aug on a 457 visa Was originally intending to open an account with HSBC who we bank with in Uk but have just found out they will charge $20 every time I do an Internet transfer to my uk account I need to transfer money on a regular basis as we still have 2 children living in our house in the uk Anybody know of a cheaper alternative bank Quote Link to comment Share on other sites More sharing options...
deanhewitt Posted June 21, 2011 Report Share Posted June 21, 2011 Unfortunately there isnt. My advice would be to send it back every quarter if you can. I will be transferring money through Halo as they are slightly cheaper and the exchange rate far better but this depends on how much you are going to be trasferring. Quote Link to comment Share on other sites More sharing options...
Fullyladen Posted June 21, 2011 Author Report Share Posted June 21, 2011 What's halo Quote Link to comment Share on other sites More sharing options...
deanhewitt Posted June 21, 2011 Report Share Posted June 21, 2011 http://www.halofinancial.com/ They are a worldwide money exchange company Quote Link to comment Share on other sites More sharing options...
Give me a break! Posted June 22, 2011 Report Share Posted June 22, 2011 Im really rubbish on this money thing which is why I never have any probably But you can buy a prepaid credit card which you can top up at anytime and you can have one in one country and one in the other. So you can go to your bank and top up the card and your children and withdraw in the UK, and visa versa might be worth enquiring sorry not sure of the costs incurred if there are any:wubclub: Quote Link to comment Share on other sites More sharing options...
Perthpilotandnurse Posted June 22, 2011 Report Share Posted June 22, 2011 I am not currently in OZ but send money home from a Middle-east country through a company called TorFX in the UK. They are a Money exchange company based in the UK that deal with almost all currencies and have a good reputation. It's a case of setting up an account with them and providing ID etc before you leave the UK to satisfy the money laundering regulations and then transferring money back through them. They can usually give better rates than the banks as they deal in "bulk" and the rate is negotiable very slightly. I can give you a specific name if you PM me but can't give it out on here. Happy banking !!!:goofy: Quote Link to comment Share on other sites More sharing options...
Guest Har00n Posted June 22, 2011 Report Share Posted June 22, 2011 I've opened up an bank account with nab, and an account with moneycorp. I'll be using moneycorp to transfer funds from Aus to the UK. Apparently, if your a member of Pomsinoz.com, you don't get charged transfer fees. Same applies if you have an account with NAB, luckily i fitted both categories. Quote Link to comment Share on other sites More sharing options...
Guest Daz0901 Posted June 22, 2011 Report Share Posted June 22, 2011 I have spoken with NAB reps before and they recomened me to speak with moneycorp as they are linked with NAB and they can do free transfers. I looked into this as i will be selling my house before we move over to Perth. Have a look at there websites to see if they can help. Quote Link to comment Share on other sites More sharing options...
deanhewitt Posted June 24, 2011 Report Share Posted June 24, 2011 Hi Daz That is useful, did they mention if there would be a fee for regular monthly money transfers from Australia to UK? I will be sending about $1200 per month back to my UK bank account and am looking for the cheapest option to do this. Quote Link to comment Share on other sites More sharing options...
Guest Bob Tonnor Posted June 25, 2011 Report Share Posted June 25, 2011 Hi Looking for some advice on Australian bank accounts I am moving out end July/ begin Aug on a 457 visa Was originally intending to open an account with HSBC who we bank with in Uk but have just found out they will charge $20 every time I do an Internet transfer to my uk account I need to transfer money on a regular basis as we still have 2 children living in our house in the uk Anybody know of a cheaper alternative bank Hi there This is a question that keeps popping up, each and every bank is slightly different but no-one out there is going to move cash from the UK to Australia for nothing. Here is a list of all the Australian financial institutions with their mortgage rates, not that that is what your asking for but its good to know, http://www.canstar.com.au/interest-rate-comparison/compare-home-loan-rates.html if you have a trawl through you may find someone that suits what you want. Moving money between countries gets cheaper the more you move, this is because you will get a better transaction rate, a tighter spread and you only pay that spread once, i use this bunch http://www.currencyonline.com/co/ef/915/about_us/. However, depending on the amount of money you have stashed in the UK it may be worth your while speaking to Natwest, because if you have over a certain amount you get private banking. With private banking you used to get the spot rate on the interbank market with no fee, basically the bank take the spread and that is all you pay, its by far the cheapest way of doing this sort of thing, the only downside is you need to keep a fairly large amount of cash with Natwest in the UK and im not even sure they still do this. I would shop around, i think you should be able to find something that suits you but always remember to ask what rate you are going to get, you want the spot rate if you can get it. Good luck Bob Quote Link to comment Share on other sites More sharing options...
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