FromTheRail Posted March 21, 2013 Report Share Posted March 21, 2013 We are looking to open an Australian bank account in the UK and are looking to deposit Aus$'s into it at a UK branch. It is not some sort of money laundering scheme but a way to increase spend on a BAPP Amex to gain a 2for1 voucher and numerous Avios. I still need to crunch the figures to see if it would be worth it financially, the other option would just be to take the cash into Australia when we emigrate. Any thoughts/info?? Quote Link to comment Share on other sites More sharing options...
Nikkis2000 Posted March 21, 2013 Report Share Posted March 21, 2013 Hi, We were at an expo last week and the lady from ANZ actually advised us to open an Aussie bank account about 12 months in advance of going over and start depositing some cash. Can't remember for the life of me why now, but at the time it sounded like good advice. I'll dig out the leaflet or ask hubby if he can remember and get back to you.... Nikki Quote Link to comment Share on other sites More sharing options...
Nikkis2000 Posted March 21, 2013 Report Share Posted March 21, 2013 ....it's do with building a financial history as when you migrate you start with a clean slate I.e no financial history at all. Doesn't necessarily give you a credit rating as you aren't borrowing but it's a starting point. N Quote Link to comment Share on other sites More sharing options...
phil Posted March 22, 2013 Report Share Posted March 22, 2013 Can't remember for the life of me why now, but at the time it sounded like good advice. Have to wonder if one of the main reasons is so they have your money sat in their account I've not heard of anyone trying to put $'s in to an account in the UK. Doing the maths would be worth a few minutes I reckon - by the time you've paid all the commissions/handling fees etc it may not be worth it. Quote Link to comment Share on other sites More sharing options...
Nikkis2000 Posted March 22, 2013 Report Share Posted March 22, 2013 LOL - I think OH said something similar at the time! Quote Link to comment Share on other sites More sharing options...
FromTheRail Posted March 22, 2013 Author Report Share Posted March 22, 2013 Hi, We were at an expo last week and the lady from ANZ actually advised us to open an Aussie bank account about 12 months in advance of going over and start depositing some cash. did you mean actual physical cash or just transfer into the account? Quote Link to comment Share on other sites More sharing options...
Nikkis2000 Posted March 22, 2013 Report Share Posted March 22, 2013 Just transfer into the account I think Quote Link to comment Share on other sites More sharing options...
happyhosefitter Posted March 23, 2013 Report Share Posted March 23, 2013 I opened a Commonwealth Bank account in whilst in the UK online. When I arrived in Oz I simply went to the branch in Perth armed with what was required of me and hey presto...DONE in 20 mins. I put deposits in the account from the UK but I wasn't allowed to draw from the account until it was activated. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.