Trevali

Setting up bank accounts from uk

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    Hi all,

     

    We need to set up bank accounts for our move to Oz. Really don't know where to start.

     

    We would like similar to what we have in the U.K., but the terminology seems to be very different with the Australian banks.

     

    In the U.K. we have a visa mastercard - which we use to buy online and in shops.

     

    A joint current account - with visa/debit cards which we use to withdraw cash and pay for items in shops.

     

    An online banking account.

     

    We would like similar to the above in Oz - with no charges. Is this possible on a 475 visa?

     

    If and when we set accounts up, do you keep accounts open in the U.K. and only transfer some of the funds you may have - house sale depending.

     

    I am so confused by the whole process.

     

    Sorry to ask so many questions, but any help would be appreciated.

     

    Many thanks

    Alison

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    Guest Andrew&Ren

    Dont worry its pretty easy, keep an acct open in the uk...its easier than reopening one if you ever go back or visit etc. We transfer money between uk bank and aus bank and its fairly cheap to do it so its also good if you want to send money to anyone or vice versa.

     

    We are with Westpac over here and they have been great you can set up joint acct, savings and even a cedit card if you want one. You can set up accts before arriving in Aus, see link below:

     

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

     

    Good luck ;)xxx

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    Guest darlo 2 adelaide

    Hi.

     

    We set-up an account, put money in it etc before we got here. Then took our ID to the bank tpo withdraw funds and set-up opther accounts (internet, savings etc, which were all done within minutes. We bank with ANZ becuase the charges are cheap, and our friends said they've always had good dealings witht them. I couldn' t personally fualt them. Be warned though they have a $1000.00 spending limit per day and if you're out stcking up on house stuff (as we were in IKEA) you get caught out! Very easy to transfer money by internet etc too.

     

    Sarah

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    Guest Emu

    I would use Commonwealth, we opened with Westpac first but they wouldnt give us a current account with Visa or Mastercard on a 475 visa, so we had to change banks. Also on Westpac we waited over a month for my husbands card on the joint account, it never arrived ... so far no problems with Westpac, the lady that we dealt with at Commonwealth is also on this forum and her name is Morag.

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    Thanks guys for all your replies. I will do a bit more research on this but Commonwealth is looking favourite. So many things to organise and also de-clutter the house ahhhhhh!

    Alison x

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    Guest ReadyPenny

    Hi Alison

     

     

    we are with Commonwealth and cant fault them. They gave us everything we need, there is a charge for bank accounts here, our is $6 a month but the first 12 months was free when we opened our account in Feb. We did it all through their holding branch in London, who were very helpful and our money was here waiting for us when we arrived.

     

    Mandy

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    Hi Alison

     

     

    we are with Commonwealth and cant fault them. They gave us everything we need, there is a charge for bank accounts here, our is $6 a month but the first 12 months was free when we opened our account in Feb. We did it all through their holding branch in London, who were very helpful and our money was here waiting for us when we arrived.

     

    Mandy

     

    Thanks Mandy for your response. Having read different posts we are thinking Commonwealth Bank is the better option to go with. How are things? Have you managed to find your feet and get to grips with your new life. Things are progressing slowly this end, but we will eventually get sorted - plenty of decluttering to do - its amazing how much junk you accumulate! We cannot sell our house so we are now looking at renting. Hope to see you when we arrive on the sunny side!

    Take care

    Alison

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    Guest Andrew&Ren

    Just to say we have had no problems whatsoever with Westpac they have been spot on x

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    Guest Rob&SamThomas

    Hi

    We moved to Adelaide on 8 June 2009 and left everything until last minute. We set up an account with Commonwealth Bank on line which was done really quickly and our cards were at the branch waiting for us when we arrived which were Maestro cards. Once we had given our identitication at the branch Mastercard debit cards were ordered for us which arrived within two days. There is also the option of opening up a London Transfer Account to transfer funds from Uk to Aus, we haven't used this yet but have asked for this to be set up.

    Hope this helps

    Sam

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    Guest Jon T
    Hi.

     

    We set-up an account, put money in it etc before we got here. Then took our ID to the bank tpo withdraw funds and set-up opther accounts (internet, savings etc, which were all done within minutes. We bank with ANZ becuase the charges are cheap, and our friends said they've always had good dealings witht them. I couldn' t personally fualt them. Be warned though they have a $1000.00 spending limit per day and if you're out stcking up on house stuff (as we were in IKEA) you get caught out! Very easy to transfer money by internet etc too.

     

    Sarah

     

    The limit is something to do with the fact that banks cover you for this amount should your card be used illegally. Not sure of all the fine details but you just need to call them to increase your daily limit.

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    Guest Emu

    Regarding the limits, you can adjust them with Commonwealth, you can ring them an lets say increase the limit to 5K if you have a big purchase and the next day reduce it to 1K, for example. You can also adjust the limits online.

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