Quote:
Originally Posted by jorgon
I think the general view is that if you use a foreign exchange merchant such as OzForex you will get a better exchange rate than a bank. However GollyW says that you can't send money directly to DIAC so it looks like the best option would be transfer via foreign exchange merchant to your sponser's bank. It would be interesting to compare the exchange rates though between your High Street bank and the foreign exchange merchant. If you do this could you post your findings, it would be very helpful?
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Hi Jorgon
Yours is a very good idea which I didn't think of.
Sids Dad used one of the Forex companies and they told him they would arrange to pay the POPC. Bear in mind you get 28 days to pay. 3 weeks later, Sids Dad's Agent checked with the CO to ensure that the money had arrived.
No money. Eventually Sids Dad got it sorted but I think he spent nearly all day on the phone chasing people. He was pretty wrathful about it when he mentioned it to me.
But I agree that there is no reason why the Forex companies cannot send the money to the child's account, provided the one you use can be trusted to make the transfer to teh child promptly. My sister lives in Perth so she could have walked the draft round to the POPC, but she decided Registered Post could be trusted. She posted the draft on a Friday, the CO received it on Monday and Mum's visa was granted the following Friday.
However, I know several people whose visas were granted the same day that the bank draft reached the CO.
If more time is needed in order to arrange the money, the COs are usually very understanding and co-operative, I have heard, though I think most CPV applicants are just so relieved that they want to pay the money promptly and get the visa as soon as possible afterwards.
Best wishes
Gill