Setting Up & Transfering Money From UK to Oz

[Boxertony]

Please can anyone help me? I would like to set up a savings account in Adelaide, so when we arrive in Adelaide, we have some funds readily available. In addition this will help us save up instead of it lying dormant in our English bank account and tempting us to spend it. Ideally I would like to set up a weekly/monthly standing order from my Current Halifax Bank Account to a suitable bank account in Adelaide.

 

I have no idea what happends about the exchange rate or if there any charges for doing this and what these charges are. I would like to transfer about £200 per week and/or maybe £800 per month, which ever is best.

 

I would like to know who are the best people to arrange this?

Which Bank service do I use?

Which is best: Hifx, Moneycorp, Ozforex, Westpack, Tranzers, Anz, National Australia Bank (NAB), Ukforex,

[Guest Andrew&Ren]

We use Westpac:

 

http://www.westpac.com.au/internet/publish.nsf/Content/PBIT+Migrant+banking

 

Never had problems!

[scooterdan]

Hey...

 

We too used Westpac for our banking here....to activate the accounts i used a normal international bank transfer to make sure the cash got there...

 

Once i activated i used www.tranzfers.com to send money...i still use them now to send money back and forth.

 

Dan

[Moosh]

I'm having major problems getting £7000 electronically transferred into my Australian Bank Account. I'm with Savings & Loans but I've spent all day today in two different banks in the UK (Lloyds and Barclays) and the paperwork I was given from the Savings & Loans is insufficient. It looks like I'm going to have to bring it over in cash back to Australia! It's a nightmare.

[Guest LOOBYLOO]

Before we arrived we contacted Hifx and opened a Westpac account through them. Also got a Qantas deal through them (cheaper flights + 40kg baggage allowance on a temp visa). We have also used Moneycorp with no problems.

[Guest WoodMartin]

Hello

We have recently set up a Commonwealth Bank account (Streamline account) and a HiFX transfer account. Did it all online, then had to send copies of ID to HiFX in London (did it by email). All went very smoothly - we have transferred funds into our Commonwealth Bank account already and had confirmation it arrived.

Also transferred the deposit on our apartment for when we arrive, again no problems. You can see the exchange rate on line at the time so you know exactly what you're getting.

Both companies have proved very helpful and efficient so far - to get money out of the Commonwealth Bank and get our cards/PINs we need to go into the bank on arrival with Passports. Have been asked to make an appointment with Morag (who is on PIA) to do all this.

HTH

Ali

[Guest MarkIngram]

don't transfer your money from a UK bank account direct into an Ozzie account as you'll be hit with charges and a much lower rate of exchange..you are better of using a company like HiFX to transfer funds as they get you a better rate of exchange and do not charge for the transfer - from 1st of September they are apparently increasing the amount you can transfer online from £10k up to £50k as well.

[Guest covfan71]

Hi, my intention is to open a Commonwealth account and use HIFX or one of the other major companies to transfer it for me.