How best to bring money from Uk to Australia

[Guest jlr248]

Hi all, We have a SS visa which requires that we have financial capacity of $40,000 ($20 in cash or savings) to enter the country. We had hoped we would have much more however it looks like we will have to rent out our house, and like most people our money is tied up in equity.

My question is, Do we need to bring the full amount over from Uk when we move or can it be left offshore so we can access it as and when we need it ( dont really want to exchange more than we need due to awful exchange rates). Do we need to prove we have the funds on arrival in the country? Also how have other people done it? Money transfer/bank accounts/cash brought on flight? If anyone could help explaining the requirments and usual proceedures it would really help me.

Also has anyone got a rough guide to expenses in the first 3 months? I have heard that it is possible to get rent assistance and child benefit, is this true?

A lot of questions I know but not selling our house has really thrown a spanner in the works.

We have friends to stay with for the first couple of weeks but we will have to rent and do not have jobs to come to but hope we will get sorted quickly.

Any advice would be fantastic.

[sea glimpse]

Hi, no you don't have to prove any funds on arrival so yes bring the minimum and exchange at a better time (if there ever will be one - we are still waiting too!). We used a currency firm IFIX but there's a few to choose from - the more you transfer the better rate normally. We also kept our English bank account open as we had rent going into it and used the surplus to fall back on when we needed to (probably not ideal though with the exchange rate the way it is...).

 

I would estimate that you will be paying approx $600-700 per week for furnished rent whilst waiting for your container (including bills). After that unfurnished rent can be anything from $300ish plus depending where you go (add bills on though). Council tax is cheaper here but I would say that electric and water are probably slightly more..

 

It depends on your visa whether you can claim child benefit etc. - I believe is you have a permanent visa you can but you are not able to claim anything if you are on a temporary visa until you have your residency at a later stage.

 

Hope that helps a bit...

[Guest jlr248]

Thanks Sea glimpse, you have helped. Think we might stay in UK for a month or so after we have shipped our stuff out. Reckon it will be easier to camp out here for a bit rather than pay $700 a week for furnished acc. while we wait for container.