Hi
I am residing in Saudi Arabia and need to transfer my savings to Australia as am immigrating there. I already have an activated NAB account which I got on my first landing in Sydney.
I 'test-transferred' some Saudi Riyals (equivalent to 100 AUD) and although I got the money in my NAB account the exchange rate seemed very poor. Currently, when rates are going down, I transferred almost 1500 AUD but this time I ended up getting 1490 AUD (10AUD deducted!) and plus an even poorer exchange rate compared to open market.
I have significant amount I need to transfer and now am not sure what's the best method.
Also, considering the falling AUD value, I would actually like to keep my savings in USD.
Can I open a USD account (while outside Australia) and is there a way to transfer USD from Saudi to NAB's Aus account without having bank charges and a better exchange rate?
Regards