QuinninOz

Comprehensive covers you for damage to your car. Third-party only and third-party, fire and theft policies cover damage to others as the result of an accident that was deemed your fault. Hope that helps. (If I just said yes it might actually be more misleading)

TORFX are one of the good guys and they have as office in Australia which I personally think is a big advantage. As far as rates and fees go they are very competitive and my experience is they are pretty good with service too. To be perfectly honest though, I think everyone should shop around. Some services are phone based, some are keen to push you towards using their online platforms. Fees are different and depending on the amounts - rates are different too. You will not find out the real rate until you are registered with any of them so if you have a large sum to move I recommend registering with two and then finding our what they can offer.

Just read through everyone comments and there is a little more to this story. It is helpful to understand how banks and money transfer companies work. In general a bank that sends money internationally does not have a bank account in the receiving country. This is why you get hit with a fee at the receiving end. The receiving banks make a tidy profit from theses international fees. A money transfer company like many of the ones mentioned here on the other hand has a bank account in the receiving country as well as the country of origin. This means they can do all the local transfers and withdrawals for free. They still usually charge a small fee for the service, but usually way less then a bank. So to answer your question; Avoid the banks - use a money transfer service! If you shop around some even offer fee free transactions - all have much better interest rates then a bank.

As others have noted, any of the BIG 4 are going to be good as far as accessibility - ANZ, Commonwealth, NAB and Westpac. However if you plan on working or travelling in remote parts of Australia - Commonwealth operates through Australia Post outlets - which in small towns can be very helpful. (Imagine no machines or bank branchs for 1000 klms but their still are postal outlets) When you are choosing a money transfer company - the exchange rate they give you is often much more important than the fees, which you can avoid all together in some cases but in all cases they are lower than banks.

Hi Kutsu, I moved to Australia from the UK in 2000 - then to Canada - funny enough headed back to Australia in January as well. I have actually started moving the money to Australia because of favourable interest rates. We too are renting when we get there, and we may decide to come back to Canada but I am doing it now because I have found that being proactive with interest rates is a good idea. Wait until you need the money can catch you with your pants down. Also wanted to mention it is much better to pay tax on exchange rates than not because it means that just benefited from the exchange rate.

Hi Guys, If you are moving Pounds to Oz you guys might like this - http://screencast.com/t/Ha74V3AGI I have saved myself a lot of dollars by paying attention to the charts which do seem to follow pretty clear trends and then suddenly they don't which is why I also really like the idea of sending 25%/25%/25%/25%. The most recent charts though suggest if it were my Pounds at stake - I would be moving that first 25% right now because the most recent trend (see green arrow) suggests the pound has had an excellent run against the Aussie and that may have ended. Just my opinion - hope it helps.

I have not used them personally, but I have no doubt they are much better than a bank. They are also sponsors of this forum and so you can get any specific questions about their service answered. You will hear about other services as well but as far as safety goes - if they have an office in Australia, that will mean they are regulated in Australia along with all the safeguards that go with that. All the major services operating in Australia are offshoots from the UK - except one and it has a UK operation too so no worries there. Other things you might like to consider: - What is the minimum amount you will want to transact? (Most have a minimum like $1000 or $2000) - Do you want online or phone based service? (Some only do phone and for large amount this is a better idea for you too) There is much more I could say about getting the best rate and service for specific needs but if you answer these questions it will go a long way to ensuring you end up with a service that will work well for you.

The recipient does need to be registered with PayPal to receive payments but they can do this after you make the transfer. It is an email based system where you and the recipient need to have a verified account. For small amounts (less $300) they are fast and relatively inexpensive because of low or zero fees (but they do make money on exchange). Many of the other services mentioned here cannot transact below a certain amount ($500, $1000) but your recipient will not need to be registered - they will need a bank account however.

PayPal is great for domestic and international transactions where the amounts are less than a few hundred pounds. Internationally more then a few hundred pounds and the story changes quickly because the exchange rate offered is no where near as competitive as specialist money transfer companies. They even warn you about this on their own website.

This is a great discussion. I am not a tax expert by any means, but I have moved countries several times including to Australia from the UK. I am just about to do it all again and head back to Australia with a very similar situation. I just wanted to say, that I think you are wise to wait to send you money to Australia. Yes, we will likely pay tax on the gains but who cares - they are gains not losses! The Aussie dollar in my humble opinion is chronically and historically overvalued but it could stay this way for some time. The second point I wanted to make is that you should find an accountant who is competent with helping expats - this may take some "shopping around" but I suspect you have other tax issues that will also benefit from someone who know hows to help people like us.

To make this decision, you really need to get as much info as you can. Then you can make an informed decision based on your own risk tolerance. For example, what work do you do? Perhaps you will have no trouble getting a great job. Secondly, what experience does your husband have and would he consider FIFO (fly in fly out) Third, you also need to think about savings you have if a job does not materialise immediately. Start with these questions and try to answer them by speaking to recruiters in Perth. From a position of knowledge you can decide if the move is exciting (fun) or stressful. You might also want to consider the opportunity cost, like what about your kids running on the beach? Hope that helps guide your decision.

I can only say I don't! In the future maybe, but right now the cyber currency is so volatile that in the few days it takes you to actually make a transaction you could lose some serious money. Much prefer locking in a rate at the time of doing the transaction. However as time goes on the currency will probably settle down and it could become more prevalent. Reputable exchanges are also few and far between right now, but this will very likely improve. Definitely an interesting currency though and one to watch!