Sending Money and setting up a Bank Account.

[Liz and Kris UK]

What is the best way to set up a bank account in Oz from the Uk and any advice on transferring money from the UK can you do it before you go?

[Nicky&Andy]

:)hi , but sorry cant help, we were going to ask the same question , when we get our visa so we will watch with great interest.

[Roo1]

We set up an Australian account with HSBC before we came over. I'd recommend you do it sooner rather than later as the Aussie banks can be a bit slow this end. You don't need an Aussie address to do so just once you are here pop in and change your details with them.
To transfer money, I would use a broker rather than a bank (eg HIFX) their exchange rates are usually better and don't charge transfer fees like the banks do.
Cheers
Judi x

[Liz and Kris UK]

How did you set up the bank account and did they charge you anythink for setting it up?

[caoimhe]

Few people have said they opened acconts with Westpac via HIFX before getting to OZ and all seem happy with them
Check out the other threads I think there is a few of them

[Guzzler&Sas]

Hi,

Before we came out we opened a bank account with the Commonwealth Bank in London http://www.migrantbanking.co.uk/ , we used them to exchange and transfer our money, on the day in question we obtained a better rate than the brokers were offering, on arrival here we activated the account and our monies and bank card were waiting for us.

Good luck

Guzzler

[Guzzler&Sas]

Hi,

Before we came out we opened a bank account with the Commonwealth Bank in London http://www.migrantbanking.co.uk/ , we used them to exchange and transfer our money, on the day in question we obtained a better rate than the brokers were offering, on arrival here we activated the account and our monies and bank card were waiting for us.

Good luck

Guzzler


Forgot to add no charges for set up or transfer

Guzzler

[Nicky&Andy]

:jiggy:hi roo, thats really helpful , were with hsbc,did you find Hifx reliable, how did you contact them, was it by internet, was hsbc charges too high? sorry for the fireline of questions, g,day to you all in adelaide

[Nicky&Andy]

:jiggy:oh roo1 meant to ask you, is there an hsbc in adelaide ? i went on there website and it only showed perth. thanks again:D

[Roberts Family]

Hi,

We're using NAB, their migrant banking department based in London, if you give them a call they'll explain everything (020 8614 9320). They sent the forms out to us the following day and have advised that when these are returned the account in Australia will be open within 48 hours.

The account itself is deposit only whilst your based over here and is fully activated when you arrive in Adelaide and go into your local branch. Also, it will stay open with a zero balance until you're ready to send the money out.

The other bonus with these guys is that they own Clydesdale Bank in the UK and if you're happy to open an account with these over here, they won't charge any fees and will provide wholesale rates when sending the money across.

Hope this helps!

[Roo1]

:jiggy:hi roo, thats really helpful , were with hsbc,did you find Hifx reliable, how did you contact them, was it by internet, was hsbc charges too high? sorry for the fireline of questions, g,day to you all in adelaide


Hi guys,

There's a HSBC on Grenfell St in Adelaide City centre. Unfortunatly its the only one in SA (apparently just 8 in the whole Aus). As we use our account via the internet, it doesn't worry me that there's not one on every corner. I also joined Adelaide Bank and AnZ when I moved here, which was easy to do, but I guess because we were with HSBC in the U.K, it just felt natural to set up the account with them before we came out.
BUT I must admit, hearing more about Westpak from friends, its seems a lot easier with them. With HSBC there were a few forms and it became a bit tedious ( this was 2 years ago). Now you can apply online (not sure if HSBC do that) seems better all round.
HSBC charges 20UKP for tranfers over 10,000 (under this amount is 9UKP) not done this for awhile so charges might have changed.
I found HIFX quick, easy and simple and within 12 to 24 hours the money was in the account.
Good Luck
Judi x

[andylynnchriskirst]

We have friends who emigrated to N.Z in August 2007. They set up all their accounts from here, just found where they were going to live, list of banks in area and applied online. It was all set up on arrival. They transferred their final account here on their last day and just took their passports in as proof of ID to complete the account process. Don't know if it's the same in OZ but would think so??!!

[Nicky&Andy]

:jiggy:hi roo1 thanks judi for the info , set our mind at rest, when we get the ok on our visa i will look more into every thing you & others suggested, thanks again
nicky:)

[Roo1]

:jiggy:hi roo1 thanks judi for the info , set our mind at rest, when we get the ok on our visa i will look more into every thing you & others suggested, thanks again
nicky:)

No worries Nicky :)

[scooterdan]

Hey!

We set up with WestPac...who contacted us through HiFx! The acccount was up in days, and they were great to talk too! We even phoned Westpac in Oz to get online access....and they were great too.!

Dan and Steph