We have been advised it is a good idea to set a bank account up prior to moving to Oz for credit reasons to help with renting a property, etc. HIFX has been mentioned a few times for transfering funds at a good rate but can anyone recommend a bank and how we go about setting up an account. Just a bit worried to send a lot of money to an account the other side of the world without being able to walk into the branch and speak to them face to face.
Hi we are going to set up a bank account with the hsbc, 2 reasons for this is that
1, my wife`s sister works for them.
2. there is a hsbc in oz so it would be easier for us to do that, and poss get a mortgage easier when we are in oz.
Hi
We opened an account with Westpac from the UK prior to moving out here. You just go their website and there is a section for migrant banking. You fill in an online application and you will receive paperwork in the post giving you account numbers etc...You can deposit money into this account using an exchange company but you can't withdraw anything until you get to Oz. Then you need to physically go into a branch with ID (Passport etc..). Also once opened you need to transfer funds into it within 30 days. I know its worrying sending large amounts of money abroad but it will be fine. We had no problems at all and our money as in the account when we arrived in Oz.
Mandy x
Location: Coombabah, Gold Coast from Oldham, Gtr Manchester
Posts: 1,064
Thanks: 0
Thanked 0 Times in 0 Posts
We did the same as Mandy and David, but with Commonwealth Bank. They were good, no problems, but they didn't have a visa debit card, only EFTPOS, which you can't use to buy things online. We since changed to Westpac; also fine. Also, for most accounts in Australia you will have a monthly fee, of around $5-6, unless you keep a certain level of money in the account.
If you're using HIFX or something similar, you could transfer a small sum over initially, to tide you over, and transfer the rest at a later date for extra piece of mind.
Jo x
We have been advised it is a good idea to set a bank account up prior to moving to Oz for credit reasons to help with renting a property, etc. HIFX has been mentioned a few times for transfering funds at a good rate but can anyone recommend a bank and how we go about setting up an account. Just a bit worried to send a lot of money to an account the other side of the world without being able to walk into the branch and speak to them face to face. 
