Transfering money and which bank to choose?

[Guest Kazzamkelly]

Hi just wondered who people had used to transfer there money over from the UK, and what costs were incurred, and who do you recommend to bank with once over there, (end of sept for us) do any banks offer to transfer money over for free if you use them for your oz account? Just thought I'd ask any advice would be gratefully received.

 

thanks

[Tamara (Homes Down Under)]

Hi,

We used a bank to transfer our money over when we moved here....terrible financial decision!

You will get a better service and a better rate by using currency specialists like Moneycorp. I have a Moneycorp account and I receive many payments through Moneycorp and it works well...and gets you a better exchange rate than you will get through a bank.

 

Tamara

[Diane]

Drop John a line http://www.pomsinadelaide.com/forum/member.php?u=6280 - he is a member on here and does excellent deals for other members - including no transfer fees I think. A good guy and a good supporter of the site.

[Les&Babs]

Hi Don't use a bank to transfer money over, you will lose a lot in fees. I have used Moneycorp and OZForex . We kept a bank account open in the UK and then transfered the money over when we had set up our OZ bank. Once you have set up with Moneycorp & OzForex the process of moving the money over was simple.

 

Les

[Guest vikkiann]

We used hifx to transfer money into our anz account. It was free and was there the next day!

[scooterdan]

We used http://www.tranzfers.com

 

No probs and was quick!

[Guest cloudnine]

I've just used HIFX to transfer £3k as a test to an HSBC Account in Adelaide that we set up when we came on our one of our VISA validation trips. The Transfer went through great but HSBC have charged us $30. I don't know why, despite reading their free brochure.

 

Does anyone have any suggestions of Bank Accounts that won't charge us a fee to deposit cash electronically. I'm finding the charges for everything a little difficult to understand after having a UK bank account and free banking!

[Guest Kadphises]

I bank with Commonwealth Bank here and Barclays in the UK. Did one direct transfer from bank account to bank account for a smallish sum. Bad rates and expensive.

 

After that I signed up with Ozforex and have transferred large and small sums. Good rates reasonable fees - it is free for larger transfers, but I am not sure where that threshold lies. It's easy, you transfer the money from the UK account into their account with a ref. number and they then transfer it into your account here. Plan it in advance though, as it takes a day or two to get registered with them, due to the money laundering laws.

 

Commbank has never charged me for any transfer.

[Jessica Berry]

HIFX, we used them 3 times and had no problems.