Guest James and Jen Posted February 16, 2012 Report Share Posted February 16, 2012 Whats the best (cheapest!!) way to transfer cash back to the UK. I'm still paying bills over there for various things. So it will need to be done every few months in a lump sum over to my UK account. Also have an over payment with my previous employer to settle knew they would work it out sometime . if makes any differnce, ANZ bank here, and HBOS in UK Thanks James. Quote Link to comment Share on other sites More sharing options...
Arwen Posted February 16, 2012 Report Share Posted February 16, 2012 Whats the best (cheapest!!) way to transfer cash back to the UK. I'm still paying bills over there for various things. So it will need to be done every few months in a lump sum over to my UK account. Also have an over payment with my previous employer to settle knew they would work it out sometime . if makes any differnce, ANZ bank here, and HBOS in UK Thanks James. There are a couple of people. Ozforex, HIFX and for smaller amounts use Tranzfers. Quote Link to comment Share on other sites More sharing options...
phil Posted February 16, 2012 Report Share Posted February 16, 2012 I think we've used MoneyCorp in the past. Few things we noted: - it takes longer than you think for it to arrive/clear - don't take the first price MoneyCorp or any of the others offer you. Ring them back and haggle. - comparing the true cost of their service is difficult as they seem to charge in different ways. And don't forget a headline lower % fee for doing the transaction can be wiped out if the currency conversion rate they decide to use is skewed in their favour. I've not looked into it, but sending money via PayPal may be an option to consider. Quote Link to comment Share on other sites More sharing options...
Guest Stu Posted February 16, 2012 Report Share Posted February 16, 2012 I use XE.com, it's rates are pretty good (they get nearer the actually rate the more you transfer), there is no charge if you do everything by electronic transfer and it can be as quick as 5 days, but usually about 8-9 days. There is an initial limit of $10k being processed at any one time but I think you can apply for an increase. You do need to get some proof of identity signed and witnessed but once its set up it's great. You can also set them up on BPAY from your bank account. One tip I've only noticed recently, if you wait until 7pm to 8 pm at night (i.e. when the markets are closed here but open in the UK) you quite often get 1 or 1.5p more on the dollar. Not much but if you transfer a fair amount then it does add up Quote Link to comment Share on other sites More sharing options...
Guest James and Jen Posted March 20, 2012 Report Share Posted March 20, 2012 cheers folks. XE as in the currency conversion website? last one i did through ANZ cost me $480 to pay a £270 bill after all the changes etc... not impressed. Only took 2 days tho. Quote Link to comment Share on other sites More sharing options...
Guest Fruitysunshine Posted March 20, 2012 Report Share Posted March 20, 2012 I may be missing a trick here...but if I transfer money from my australian bank using the bank exchange rate I only pay the transfer fee of $22 and if done by 2pm it is in my UK the same day....I assume the saving is in looking for the best exchange rate is it? Quote Link to comment Share on other sites More sharing options...
Weedolly Posted March 20, 2012 Report Share Posted March 20, 2012 I may be missing a trick here...but if I transfer money from my australian bank using the bank exchange rate I only pay the transfer fee of $22 and if done by 2pm it is in my UK the same day....I assume the saving is in looking for the best exchange rate is it? Thats how we do it with Commonwealth Bank on internet banking $22 charge. Usually do it around 10 at night when on computer and in UK bank by lunchtime next day Quote Link to comment Share on other sites More sharing options...
Guest James and Jen Posted March 20, 2012 Report Share Posted March 20, 2012 ANZ hit me with a $40 charges and poor rates when ever i do it. Plan on switching banks soon, gonna look at best one for transfers, as lets face it, all the rest is pretty much same for a normal bank account. Few dolor differance in charges and 0.?% differance on intrest rates. Quote Link to comment Share on other sites More sharing options...
Guest doodlebee Posted March 20, 2012 Report Share Posted March 20, 2012 I wanted to know about this too. Are you talking about Electronic Funds Transfers from your personal bank accounts? I'm currently trying to decide which bank to sign my life over to, and will still have to pay bills in the UK while our flat is on the market. Quote Link to comment Share on other sites More sharing options...
nicolac34 Posted March 21, 2012 Report Share Posted March 21, 2012 We use UKForex/Ozforex (same company) and they've been great. We get a good rate of exchange and they charge $15 to send cash back to the UK and it takes 3-4 days before it's cleared in our accounts. If we are sending from UK to Oz then we don't pay a charge and it clears in 1-2 days (I blame HSBC in the UK for taking so long to clear!) Quote Link to comment Share on other sites More sharing options...
Guest Fruitysunshine Posted March 21, 2012 Report Share Posted March 21, 2012 I have to say that since we opened our accounts in the UK with NAB via their website we have not had any problems with them. When we got to Perth we went to the branch, went through the ID process and received our EFTPOS cards (still no idea what the point of them are as I have never used it!) then 3 days later our visa debit cards were in our hands. I use their website every day and find it really good compared to a couple of the UK bank websites. The only point I may add is that the processing times they quote on their websites are EST (Eastern Standard Time? I found this out to my detriment!) so for any transfers to be done to the UK for the same day it needs to be processed for Perth customers by 11am so it falls with EST. Anyway I am sure there are other banks which are just as user friendly if not better but I am pleased with our choice so far. It also has a currency convertor that you can use whilst you process your transaction. Also there are no monthly fees on our account and we have a current and savings account. Quote Link to comment Share on other sites More sharing options...
Guest Stu Posted March 26, 2012 Report Share Posted March 26, 2012 Yes XE is the currency exchange site and there is no charge for transferring money electronically between your Aus and UK accounts. Quote Link to comment Share on other sites More sharing options...
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