Moving large sums from UK to Oz

[lconnartyduncan]

We are selling our house and moving to Sydney in a matter of weeks (on a 457 4 yr non resident visa) and we will have sizable procedes from our UK sale, we are planning on taking advice and renting for 6 months but may by in first month on at any point in the first 6 months. We have a Oz bank account with NAB. Question is how do we move £160k to Australia? Do we send for it when we need it and leave it in Uk bank/s ? Is this a quick and easy procese from over there? Will we loose any money doing this through our UK bank (Bank of Scotland)? Presuming this can be done easily. Do we instruct our funds to go straight from sale to Oz ac or UK? I think in the UK it is now £80k that is protected in any one bank (was only £50k when banks crashed and many people lost a lot). What is the limit in OZ banks. Would we lose more or make more dependant and the market and when we move? Are there any other costs or consideration I need to know?

[Joys of Oz]

We are selling our house and moving to Sydney in a matter of weeks (on a 457 4 yr non resident visa) and we will have sizable procedes from our UK sale, we are planning on taking advice and renting for 6 months but may by in first month on at any point in the first 6 months. We have a Oz bank account with NAB. Question is how do we move £160k to Australia? Do we send for it when we need it and leave it in Uk bank/s ? Is this a quick and easy procese from over there? Will we loose any money doing this through our UK bank (Bank of Scotland)? Presuming this can be done easily. Do we instruct our funds to go straight from sale to Oz ac or UK? I think in the UK it is now £80k that is protected in any one bank (was only £50k when banks crashed and many people lost a lot). What is the limit in OZ banks. Would we lose more or make more dependant and the market and when we move? Are there any other costs or consideration I need to know?

Hia

Can't really answer your questions, but, just wanted to drop by and say WOW!!! Congrats on your job and Visa, AND!!!! WOW Congrats for being a such a good position to go in! Thats a lot of pennies to look after and protect. Hope you get the answers you need.

We're not in such an advantageous position, but one day I hope to be maybe a little bit as luck as you......all the very best for the future and hope it all goes to plan...............Well done x x x :)

J'sOZ