Aquacatrina

Cheapest way to transfer $1500 from the UK to Aus?

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    Hi guys, just wondering if there's a cheaper option than PayPal to transfer $1500 from relatives back in the UK to our Aussie bank account? PayPal want to charge them 3.4% and then us a fee to put in in our account, and western union charge 30 pounds but have a low exchange rate.

     

     

     

    cheers for your help!

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    Moneycorp used to offer the first transaction free but not sure whether they still do that. There are some other Money Exchange Places that will charge both them and you by deducting a fee from your bank account so you need to be wary of that.

     

    I didn't think that Paypal would charge them also, unless they are paying via a credit card and not via their bank account in which case their credit card will charge them a "fee" for using credit to pay "cash". Paypal will charge you the 3.4% fee on your end.

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    If I remember rightly if you are a member of this forum or Poms in Oz there is no charge.

     

    Maybe get your friends to join the forum.

     

    No charge? how do you do that then? Is there a link from these sites?

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    When you setup an account with them you tell them that you are a member of this forum.

     

    Trying to remember if it is no charge or reduced charges.

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    Guest Mrs Bon Jovi
    When you setup an account with them you tell them that you are a member of this forum.

     

    Trying to remember if it is no charge or reduced charges.

     

    No charge - we've used them on more than one occasion and never been charged a fee.

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    No charge - we've used them on more than one occasion and never been charged a fee.

     

    Cheers - thought I had been dreaming that they did this!

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    I have just now tried to go through the link on this site but it won't let me submit - I have left a message so hopefully it will be sorted out. Mrs Bon Jovi (lol, that should be my name) have they given you a reasonable / comparative exchange rate as well?

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    Guest Mrs Bon Jovi

    We were happy with the rates offered at the time (apart from the crappy exchange rate in general!!) in comparison to what we could've got elsewhere.

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    Hi, we used TorFx to transfer all our money over here, some big amounts and some little ones. The only charge we have had is from ANZ when the money went in from their UK account to ours in Oz.

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    Guest leeannekays

    We have always used money Corp and they have been great, we will use them in th future also x

     

    Leeanne

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    Hi all

     

    A foreign exchange specialist company can help you transfer your money overseas cost effectively. You will usually receive a much better exchange rate than the one you will receive from your bank (therefore will save money).

     

    I checked the Moneycorp link and it appears to be working - for more information on how we can help, we have a dedicated section on the Poms in Oz forum, please click on the following link - http://moneytransfer.pomsinoz.com/save-money-with-moneycorp.html

     

    Thanks

     

    John

    Edited by John from Moneycorp

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    Guest Crushfamily

    Think you will be charged approx $13 to receive funds in your Aussie bank account - certainly the case with ANZ & NAB so factor this into your calculation

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    Guest leeannekays

    Just to letyou know when we transferred money to our NAB account we were not charged by NAB.

     

    Leeanne x

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    Guest James Burrows

    Check out Ozforex also, you can set up limit orders so you buy at a set rate, I am not sure if smaller ammounts are fee free though.

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    Guest Mrs Bon Jovi
    Think you will be charged approx $13 to receive funds in your Aussie bank account - certainly the case with ANZ & NAB so factor this into your calculation

    We weren't charged anything by NAB on any of the transfers into our account

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    Guest Crushfamily
    Just to letyou know when we transferred money to our NAB account we were not charged by NAB.

     

    Leeanne x

    Thought I'd give NAB a go based on this. Just transfered money (for my Dad who uis visiting) statement shows no charges but $12 has been deducted for the sum transfered. On the plus side I am a whole dollar better off than using ANZ!

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    Thought I'd give NAB a go based on this. Just transfered money (for my Dad who uis visiting) statement shows no charges but $12 has been deducted for the sum transfered. On the plus side I am a whole dollar better off than using ANZ!

     

    Have you asked why?

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    Guest Crushfamily

    Yes all banks deduct this fee to receive overseas funds - it is a hidden charge so most do not notice it. ANZ do $13 NAB do $12

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