Susan from Moneycorp

Hi again Scondes,

Just wanted to follow up - I was in a Migration discussion on Friday afternoon and raised this Visa criteria again with one of the experts (an agent who has worked for the Aus Immi Dept both here in Australia and for the Embassy in the UK) he confirmed the large number of Global Talent Visas which have been granted in the past 12months which would - "at first glance" - not appear to 'fit' the strict criteria.

Re. my earlier message (above) it would appear a significant degree of flexibility is being shown.
Good luck in your application
 

Hi,

Coincidentally, I was on a webinar last week specifically discussing this GT Visa.

Whilst the presenter acknowledged a "high bar" of achievement/criteria is required, for the duration of this (actively pushed by the Gvmt) programme, there are applicants who have been accepted who "do not appear to come within the published details."
It is "policy-driven" which apparently provides a significant degree of flexibility if you are or have been Internationally recognised.

In November a lot of the earlier restrictions were removed, making it more attractive to submit an EOI.

Good luck!



 

Hi again

Have a look online at the Top Aus savings accounts which give bonus interest rates - the longest bonus I've seen was 6months with AMP (Before christmas), typically they're a 4 month introductory period.

Unlike other countries, with almost all Australian savings accounts the interest is accrued daily and added to your balance at the end of every month.
I think that's a very good deal compared to overseas banks and rates.

Different comparison sites get paid by different banks to champion theirs as the highest interest rate, so make sure you look at at least four different comparison sites:
Finder
Compare the Market
Mozo
etc.....

Hopefully you'll be able to get something as close to 1.5% as possible - There may even still be a couple of 1.75% left out there ~

S,

4 hours ago, bicek said:

Hi Susan,

Not sure if you can help, but I have a few questions based on what you mentioned in your above post.

With Nationwide, does that £10k limit just apply to transfers overseas? Or to another UK bank account too?

And whilst you can do it as many times as you like, would that be limited to once per day? And would there be a fee each time that amount was transferred?

I am trying to work out how best to transfer the funds of our UK house sale once it goes through. We are putting it on the market shortly. Totally stressed already 

Ughhh, I completely sympathise with you on the stress.... we've all been through it too and we walk alongside you in support!

Fortunately we have the forum here to help and make it as pain-free as possible

Re. your question - I had almost exactly the same (Nationwide) case in December:
You're right in that they only allow you to do tranches of £10k at a time.
My client calling them to ask them to raise their daily limit didn't help: They allowed her to do countless transactions online of £10k per transaction - and could not override their system's £10k rules.

She got it done, (£120k in 12 transactions, one after the other, in 30minutes - no fee for online payments) but I've heard of other cases where the Nationwide firewall thought continual, same, transactions were suspicious and put a block on the client's account.
You then have to phone to go through KYC security and your account is 'unlocked'.

I've had an instance too where, instead of an online transfer, Nationwide agreed to a Chaps payment.
This costs £25, but they will transfer any amount for you.
The difference is they make the trf instead of you.
Much more efficient.
You fill out an online form and pay your £25.

Hope that makes your day a little less stressful

21 hours ago, Marisawright said:

It must be a very recent decision as they still mention recurring payments on their website.  Maybe @Susan from Moneycorp can shed some light.

They do still transfer money, all you need to do is book the transfer yourself each month. That's what Ramot and MaryRose do.  Not as convenient but if you have an online account with them, it's very simple and would take you less than half an hour. 

I'm not aware of any other money transfer company that does recurring payments but maybe someone else will know someone.  Otherwise, like I said, if you want automatic payments then you can just tell the Pension Centre to pay the money straight into your Australian bank account.  

Many thanks @Marisawright 

On 14/01/2021 at 17:25, mamba said:

Following my conversation with MONEYCORP last night it now appears that they no longer do recurring payments, in my case that was a payment of £1400 each month for the last nine years. In fact, the more I write about this the more ridicules it sounds, what is a money transfer company for if not to transfer money?

mamba

Hello Mamba ~ and thanks so much for this post.

I'm really sorry to hear the service has been stopped by the team in London responsible for sending your funds over - we haven't had a directive here at our Australia office for transfers that we make for our clients and I'll certainly speak to the Department over there this evening to find out more about their change in direction.

 Meantime, being one of our Australian clients, I'd like to thank you for your custom and loyalty over the past nine years: we are only too aware you have alternative providers to consider.
With your online account being available 24/7 for you to bring funds over at your convenience,  I'm confident we can match the rate offered by Transferwise and keep your monthly remittances on-track.

Please feel free to call me on the office line: +61 414 838 586 whenever you'd like to chat and we can run through how the online process works!

Have a great weekend,

Sue, 

Good afternoon everyone ~ and a Happy 2021 to anyone I haven't spoken to already!
I hope this year (& beyond) you'll be blessed with good health, good fortune and the continued support of good friends and family.

Rather than reflect on the year that was - our Global Economists thought they'd take a look at what's coming up in the year ahead ~  hopefully a lot more positive than delving into the past!
Here's what we're thinking for 2021:

https://www.moneycorp.com/en-au/news-hub/the-future-of-currencies-in-2021/

8 hours ago, Marisawright said:

....though of course, you could also have transferred the funds into your Moneycorp account, where they would have stayed safely until you arrived and were ready to open an account with some other bank..

As I've said before, although I understand people's desire to have a bank account up and running on arrival, the risk is that you'll end up staying with that bank for the long term. And every Australian knows the Big Four banks are the most expensive option for banking, mortgages, loans etc.

You're right Marisa ~ all of my funds were converted by Moneycorp and they are held safely until ready to send to the beneficiary ~ but ASICs F.I. KYC procedures here are very stringent and verifying IDs isn't always immediate for foreigners entering the country.

Getting it all arranged in advance saves potential problems and delays when you arrive. And your money will be available to you instantly instead of having to wait for ATM and Credit Cards to be made and sent to the bank.
Especially if, like me, new arrivals may be living in a hotel initially without a permanent address.

From a personal standpoint, with such an exhaustive list of crucial tasks to accomplish before you can leave a country, I think anything you can tick off before you go is more weight off of your mind.

I have no idea how I missed this post!

I opened my account with Westpac three months before arriving, had a branch and a personal account manager assigned to me and, as soon as I arrived, popped into the branch and was up and running with atm cards and everything I needed in 30mins.
Couldn't ask for better service

Like some PIO friends have said above, it gave me a vessel to send funds to prior to arriving, if/when the rate was favourable.

A big surge in the Australian dollar; continued disharmony in the USA; slow but steady improvement in Europe - and Brexit Brexit Brexit.

That Was The Week That Was.

https://www.moneycorp.com/en-au/news-hub/weekly-brief-11-november-2020/

Hi R. Fatima

I have a professional colleague here in Australia who would like to talk to you about this; a business partner .... may I put you in touch with them?

Send me a private message with your contact details if so ~ 

Australian Retail Sales up;  Better than expected economic data for the UK;  Low sentiment and low hopes in the Eurozone, and the relentlessly Un-United States of America.

That Was The Week That Was.

https://www.moneycorp.com/en-au/news-hub/weekly-brief-27-november-2020/

Hello A&L

I had the same issue when I needed to bring a chunk of GB£ over here too - I found that different banks have different daily limits: Halifax and Lloyds were prepared to up it to whatever I needed (for 24hours) then it reverted back to whatever their regulated daily limit is.
Same with Santander.
Nationwide would only let me do £10,000 max online (as many times as I liked).

Once they know the reason for your transfer, I've found all the major UK banks or building societies will authorise.
Sometimes you have to fill out a Chaps or TT form and email it back to them - other times they will ID you over the phone and do it that way.

Also -  at Moneycorp we hold all of our accounts with Barclays too, so it would just be an internal transfer at Barclays from your account to ours which should make it even simpler for them; we'll do the rest for you - no transfer fees and preferential rates of course for Poms in Oz clients!

Give me a call if I can help!
Our Sydney office number is: 0414 838586

 

@Marisawright - yes, I believe so. Our clients are advised when a credit has been made to their accounts.

Hello JBaker!  ~ and huge congratulations on your 309

Moving over to Aus was the best decision I've made and telling others how fantastic it's going to be for them here never gets old.... super excited for you!
(& as of today you could even go to Queensland  )


Like you, I had to do the same with my savings.
I sold everything I owned and had to change it to AUD.
Rest assured (iii) you're covered for any UK Financial Institution loss for the first £85,000 you have entrusted to them.
Additionally, under point (iii), a margin forward contract is typically between 5% & 10%

(i): Transferring AUD progressively into a UK Institution with an AUD facility (I believe CBA & HSBC among others still do these accounts) gives you the opportunity to average your       GBP/AUD trades and book them when the rate is in your favour.
      Good idea to check that bank's fees for AUD transfers as/when you wish to send over your balance.
      With Moneycorp, you can hold both AU$ as well as a GB£ in your account and leave your AUD with us until you're ready to send it to Australia.

(iv): I find most of my clients moving to/from Aus decide to book their GBP or AUD in tranches, monitoring the rate for the level they would like to achieve.
        It eliminates the risk of having to trade 100% of your sum if the market goes against you.
        Your personal account manager at your FX provider will be able to monitor this for you 24/7 across the timezones so that you don't have to lose sleep (or get an ulcer) watching it yourself.

Always here for a chat - let me know if you'd like to catch up, and congratulations again!


Sue,

With so much economic and political news bombarding us all, especially in the most recent few months, we thought we'd clarify what's been going on for all our friends at Poms In Oz as we head towards the end of our year ~
Here's the round up:
https://www.moneycorp.com/en-au/news-hub/aud-update-as-we-head-towards-the-end-of-the-year/

Hi Niti,

Good luck and all the very best to you and your family in this new chapter ~

Whilst we're in such politically turbulent times, the currency markets will be volatile and even more unpredictable than usual.
I'd always suggest doing your sum in installments to protect yourself against unexpected moves - it gives you the chance to average your overall rate far more favourably.

Another safety net is to leave an order with your FX provider so they can book the trade for you at the rate you would like, once the market reaches it.
It saves you having to monitor it yourself 24/7. One thing to take off your plate whilst you have so much more to organise!

Feel free to contact us at the Sydney office if you want to chat further ~ 0414 838586. 

 

The Reserve Bank confirms another AUD base rate cut;
The new NZ Cabinet is officially assembled;
The UK "unprepared for the changes coming" and;
The citizens of North America finally go to vote.

That Was The Week That Was. 


https://www.moneycorp.com/en-au/news-hub/weekly-brief-06-november-2020/

19 hours ago, Susan from Moneycorp said:

With the U.S. Election, plus the Tuesday statement on Australian interest rates due from the Reserve Bank and ongoing Brexit discussion announcements from the UK, the market is expected to be  understandably volatile this week.

We suggest that anyone looking to reach a specific rate leave an order with your FX specialist so that, if there are sudden moves, you don't miss the opportunity to buy or sell your currency.

GBP/AUD currently trading at 1.8420 - market currently seeing the emphasis to the upside with the next resistance at 1.8500
AUD/USD currently trading at 0.7008 - market seeing the trend to the downside with the next support at 0.6970, then 0.6900

Our team will be on-hand 24/7 for our Poms In Oz members - in Australian time on our Sydney office number from 8am: 0414 838586 and, after 7.00pm (AEDT) on 02 8228 1490.

For any new PIO members who haven't yet registered for a Moneycorp account, feel free to use the special PIO sign-up link for free transfers, preferential rates and personal client management from our team of Private client dealers.
https://www.moneycorp.com/en-gb/campaigns/partners/partner-emigration-aud/

With the U.S. Election, plus the Tuesday statement on Australian interest rates due from the Reserve Bank and ongoing Brexit discussion announcements from the UK, the market is expected to be  understandably volatile this week.

We suggest that anyone looking to reach a specific rate leave an order with your FX specialist so that, if there are sudden moves, you don't miss the opportunity to buy or sell your currency.

GBP/AUD currently trading at 1.8420 - market currently seeing the emphasis to the upside with the next resistance at 1.8500
AUD/USD currently trading at 0.7008 - market seeing the trend to the downside with the next support at 0.6970, then 0.6900

Our team will be on-hand 24/7 for our Poms In Oz members - in Australian time on our Sydney office number from 8am: 0414 838586 and, after 7.00pm (AEDT) on 02 8228 1490.

Hopefully a simple question:
If a UK-only citizen (not dual-citizen) working short-term in Australia (457), sells their sole property in the UK for a profit (say, £20,000) does the UK Citizen have to pay CGT ?
The client doesn't own any other property here or UK and files an Australian tax return annually.

Thanks
 

Further rate cuts on the horizon for the AUD;  an expected landslide for Jacinda Ardern;  a barely-acknowledged Brexit deadline passes for Boris Johnson and continued chaos in the clearly un-United States of America.

That Was The Week That Was.

https://www.moneycorp.com/en-au/news-hub/weekly-brief-23-october-2020/

Hi Liam,

Just wanted to check in and see how you are getting on ~ I hope you've been able to get some positive help;  feel free to send me a private message if you need more assistance ~

 

Hi CanRoverCome (& Hi Alan!)

I know both Alan and his team and Cyrus Mistry's team at EasyMigrate (Peter Loughton) in WA and can thoroughly recommend them.
Very professional firms.
They have each been in the Migration sector for decades and will be able to give you clear professional guidance.

More than happy to help with WA questions! Just send me a PM!