minty

Opening a AUS bank acount on arrival and then transfering your money (best way)

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    Hi all,

     

    I will not be opening a Australian bank accout untill i arrive in Aus but have decided to bite the bullet with the exchange rate when we get over (hopefully next month) and just move my money to Aus straight away.

     

    My question is this - once in aus with a new account how easy is it to get my money transfered from the UK account to the Aus account and how long does it take. Also is it best to do it from one bank to another or via moneycorp, or another transfer company ect. Does my UK bank need forms left here that i have signed ?

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    Hi all,

     

    I will not be opening a Australian bank accout untill i arrive in Aus but have decided to bite the bullet with the exchange rate when we get over (hopefully next month) and just move my money to Aus straight away.

     

    My question is this - once in aus with a new account how easy is it to get my money transfered from the UK account to the Aus account and how long does it take. Also is it best to do it from one bank to another or via moneycorp, or another transfer company ect. Does my UK bank need forms left here that i have signed ?

    We have opened a Hsbc account and have the oz one already up and running and have got our cards and pin numbers for oz account money transfers can be done from one account to the other instantly or use Hifx to pay straight into our oz account ,there is only one branch in adelaide but you are able to use hundreds of cash machines free of charge,we have opened an account with HiFX for money transfers they also give us a number for Qantas to get discount flights anb double baggage on a 457 visa.

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    <br>Could be easier to have things 'in place' before you leave.  That may make the 'paperwork/signing' easier but someone else should be able to answer your query.<br><br>We have an account with National Australia Bank (NAB) set which we set up on line a few days ago but there's no money in the accounts yet. We will make t/fs via Moneycorps later (set an account up with them to make final Vac payment in May)<br>

    <br>

    We are probably going to send some of our savings soon as the deposit rate is over 5.5% (special rate for 3 months, then back to 4.5) but we'll have to wait till we've sold our house to do the rest.<br>

    <br>

    You can pay money in but can't draw it out until the account is activated in person when you arrive in Oz.

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