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Found 72 results

  1. [img2=right]http://www.pomsinoz.com/images/moneycorp468x300.jpg[/img2]John Kinghorn from the foreign exchange expert's moneycorp, is hosting a special UK election live chat session with forum members on Thursday 16th April (7:30pm until 9:30pm, UK time). The UK General Election takes place in May 2015 and with current opinion polls predicting a tight result, uncertainty beckons ahead of and after the election, which could in turn impact the sterling/Australian dollar exchange rate. Therefore, this summer's election result is an important factor to consider if you are transferring money to or from Australia. About John from moneycorp John Kinghorn is Head of UK Private Partnerships at moneycorp. With over 10 years’ experience in the migration industry, John regularly speaks at seminars on the subject and can also help you with other aspects of your move to Australia. When transferring money to or from Australia, moneycorp can typically offer you better exchange rates than your bank – often up to 4% better, saving you money. As an exclusive offer for forum members, all transfer fees are free when sending money overseas. Visit the Poms in Oz currency homepage for more information -http://moneytransfer.pomsinoz.com/ How to participate in the live chat session If you have an account on Pomsinoz, login, then click on the 'chat' menu option at the top of the page. Clicking on chat will launch the chat software. There enter the 'Moneycorp' room. If you don't have an account of Pomsinoz, you can still participate by by following this link - UK election live chat session, then, once the chat software has loaded, tick the 'Guest' option at the top of the chat window, then choose a username and click 'Login' and enter the Moneycorp chat room. NB: If you have a device which doesn't use Flash eg: iPhone or iPad, you can join us in the chat via this link or by downloading the free 123Flashchat app from the Apps Store via this link and entering 921 as the chat ID.
  2. John from Moneycorp

    Money transfers explained

    Value for money when buying your Australian Dollars Starting your new life in Australia is likely to involve making money transfers. With constantly fluctuating markets, when you make them is crucial. Using a foreign exchange specialist will help you get the most for your money. Their experts will monitor the currency markets and understand your needs, ensuring you make your transaction at the best possible time, at the best possible rate. Moving overseas needs planning and what with the scores of items on your checklist, the one that can make the most difference to you often gets forgotten; foreign exchange. It is free to speak to a currency specialist like Moneycorp and the knowledge gained, although very straightforward, can help you to secure significantly more Australian dollars for your pounds. Whatever your situation, it is important to identify and minimise the risk that the Australian Dollar may move against you and make everything that you are intending to buy in Australian more expensive. When moving to Australia, like any other foreign country, your currency options depend upon whether you have access to some or all of the funds you wish to transfer. Three different scenarios you could be in are: I have access to all of the funds – what are my options? If you have access to all the funds, you have two choices: one that enables you to know exactly what dollars you will be receiving and one which is more, “high risk”. The, “risk free solution” would be to buy all of your Australian dollars straight away. You then know exactly how many dollars you have and can budget accordingly. This is called a “spot” transaction. The “high risk strategy” would be to buy the Australian dollars at the last minute and only when you need them. This means that you would have to buy at the prevailing exchange rate, which could induce some sleepless nights ahead especially if you are on a tight budget. I do not have access to all of the funds – what are my options? Even if you don’t have access to all of your funds at the outset you can still play it safe. The solution is to buy one or more “forward contracts”. In essence, a forward contract means that you can buy the currency now, and pay for it later. You will be required to pay a 10% deposit and the 90% balance upon the maturity of the contract. For example, if you wish to buy £50,000 worth of Dollars, but do not need to send them for 8 months, you can agree the exchange rate now, place a £5,000 deposit and pay the remaining £45,000 in 8 months. If the exchange rate moves at all in that 8 month period, you will not be affected as you have bought currency at the originally agreed rate. I have strong views about future exchange rates – what are my options? If you have strong views about future exchange rates, you could wait to buy your currency at some stage between having your visa granted and physically needingthe money in Australia. In this instance Moneycorp can arrange a “market order”. This allows you to target a better rate of exchange. We monitor the markets on your behalf and should the market reach your predetermined exchange rate, your currency is bought automatically. Your order is live 24 hours a day and can be amended or cancelled at any time prior to the transaction taking place. So why use a specialist instead of your bank? Because making transfers with companies like Moneycorp is faster, more convenient and more cost effective. Whether you’re making regular transfers, or simply need to make a one-off payment, they don’t charge commission and guarantee no receiving bank charges. Regular payments automated If you need to make regular payments, such as monthly repayments on a mortgage or a pension transfer, we can arrange it for you via our Regular Payment Plan (RPP). This plan removes the inconvenience of arranging individual monthly transfers through your bank. Set it up once by Direct Debit and receive foreign currency in your Australian bank account every month. Summary of benefits Expert, helpful staff. Highly competitive exchange rates. No commission or receiving bank charges. Ability to fix exchange rates for a set time period, protecting from adverse currency movements. No cost and no obligation in opening an account. Moneycorp offers free international money transfers for all Poms in Oz members More information is available on our money transfers homepage - https://www.moneycorp.com/uk/campaigns/partners/pio/
  3. Hi everyone, Looking for some advice/discussion... We are back in the uk and have a fair amount of aud to transfer back. We joined Moneycorp recently but are not sure when to do the transfer. The exchange rate is pretty rubbish compared to say early 2013... is there any chance of it returning to those levels or should we get out now? I've been reading a lot about the current climate and it seems like it's not so great at the moment, and there is a key RBA (?) meeting next week which could impact the value of the dollar. I'm not really that clued up on all this stuff, just wondering if anyone with more knowledge could give me their opinion? many thanks!
  4. hi all, I have 2 questions that i'm struggling to find answers too... LIFE INSURANCE 1 - I want to take out life insurance for my family and I - I've been living in Oz for the past 7 months and i'm on a 457 sponsored visa. no-one will insure me from the UK that I can find as I dont have a UK address in my name. are there any companies out there who will provide this service? PAYING TAX IN OZ 2 - my company is a UK based company who are sponsoring me. they pay me in £GBP each month and I play the exchange rate game of transferring my money over to Oz. I'm paying Tax in the UK as normal but not paying anything in OZ. should I be paying or is it fine to be paying in the UK? any advice would be greatly appreciated! Andy
  5. Guest

    Transfering GBP to AUD

    I need to do one large transfer from GBP to AUD does anyone have any foreign exchange recommendations or tips? Thx
  6. [img2=right]http://www.pomsinoz.com/forum/../images/moneycorp-graph-pio.png[/img2] Australian dollar – review from Moneycorp Following the spike in autumn 2008, which took it to a five-year high at $2.70, sterling spent two years on the retreat, losing more than half its peak value in the process. It bottomed out at $1.51 in late December, an all-time low, rebounding to $1.60 in early January. Since then it has gone nowhere. For eight weeks the pound has inhabited a five-cent-wide channel between $1.5750 and $1.6250, moving up and down through the $1.60 midpoint two or three times a week. There is no particular reason for the Aussie's temporarily high correlation with sterling. If anything, the dollar should still be making hay while the sun shines on its 4.75% Cash Rate as it snows on the pound's 0.5% Bank Rate. The two currencies are subject to different pressures even apart from the interest rate differential. The UK economy is heavily dependent on the contribution from financial services, a sector that was hard-hit by the crisis and precipitated the recession. Australia's mining and agricultural sectors are big exporters of products for which there has been consistent demand from, among others, China. That steady flow of exports helped Australia to avoid recession entirely. Britain's economy grew by 1.5% in 2010 while growth in Australia pushed ahead by 2.7%. Investors are under no compulsion to keep currencies on the move, even though that is what they usually do. With the goings-on in Egypt, Libya and the Gulf they see no reason to send GBP/AUD one way or the other, hence this temporary stability in the exchange rate. But that it what it is likely to be; temporary. The next chapter For more than twenty years the pound spent the vast majority of its time wandering between $2 and $3. Against that background the Australian dollar's current strength could be a fluke, soon to be corrected. It could also reflect a fundamental change in the world order. The pain felt by Britain's economy is far from over. Negative growth in the fourth quarter of 2010 was a reminder that there is no simple choice between forward and reverse for an economy. America has shown that growth does not necessarily bring more jobs and greater spending power. UK government spending cuts and tax increases will be felt more deeply as the months go by and it will be years before things get back to "normal". House prices are stagnant and there is a yawning gulf between bid and offer. The indices from Halifax, Nationwide and the Land Registry that plot transaction prices show an average property changing hands at £162,854. The one from Rightmove that plots asking prices shows sellers asking £233,121 for that same average house. Another problem is the inflation that eats further into people's spending power. At 4% it is twice as high as it should be. Without January's VAT increase and high oil and food prices inflation would be fairly close to its 2% target but that's like saying without all this rain we would be able to sunbathe. It looks as though the Bank of England is beginning to lean towards an interest rate increase, if only to prove to the world that it is not asleep on the job. That prospect is helping the pound. The Australian dollar has already done that legwork. With no recession to worry about the Reserve Bank of Australia has raised its cash rate from 3% to 4.75% over the last 18 months. The rate could go higher still in the second half of this year. There has been no fall in house prices either, despite warnings of a bubble. The Economist said recently that Australian house prices are the most inflated in the world, 56% above fair value. It is not a new argument but it does make you wonder whether the 5.8% increase in 2010 reported by the Australian Bureau of Statistics will be repeated in 2011. The other bubble faced by the Australian economy and the dollar is the one inflating in Southeast Asia. Beijing has so far been reluctant to lean too heavily on the rising commodity and asset prices that are fuelling inflation there but analysts worry that the longer the authorities do nothing, the bigger the problem they lay in store. If demand from China were to slow sharply it would dampen appetite for the Australian dollar and other commodity-related currencies. Summary After more than two months steady around $1.60 the only reason to expect the GBP/AUD exchange rate to move is because it cannot remain static forever. Still close to its all-time highs against the US dollar, the euro, the yen and the pound the Aussie is undoubtedly overvalued. That suggests the next move for sterling will be upward but it does not indicate when, nor does it prevent the Aussie becoming even more overvalued in the meantime. Click here for more information on the Australian dollar and receiving the best exchange rates.
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  8. Guest

    Aud v gbp

    I keep reading various different reports on how the AUD/housing market etc is going to depreciate over the next year or so and then I read others that it is going to get stronger! Very confusing. Anyone out there like to give their views or professional say.
  9. Hi all, I currently earn £32,000 in the UK and although I am getting a partner visa, I am likely to be working for the same company once in Oz, in the same role. However I am unsure what salary I should aim for, as the current exchange rate is terrible. Given this and the difference in cost of living etc, what would be a comparable salary in Sydney? Thanks
  10. Weekly currency update from Moneycorp [moneycorp]10168283[/moneycorp]
  11. Weekly currency update from Moneycorp [moneycorp]10168283[/moneycorp]
  12. Moneycorp's weekly review of the British Pound and Australian Dollar. [YOUTUBE]Q_4PYDyr8NI[/YOUTUBE]
  13. http://www.marketoracle.co.uk/Article17611.html Best regards.
  14. Guest

    Bring money back to UK

    Well I would like to firstly share my distress at the fact that after many years of planning a move to Oz, property hunting and all the rest of it - it looks like the dream is over - thanks to Mr Brown and the mess the UK is now in. Anyway (rant over) I had moved quite a bit of cash over to Australia in advance of my move - I now need to bring it back. I used my bank in the way over because I was concerned about the security of the companies that litter the internet promising great rates and fast service bla bla bla. Can anyone recommend a trust worthy company to use (in the UK as that is where I will have to stay unfortunatley), I tend to llike companies that you can get to know an individual, i tend to stay clear of the internet based businesses. Cheers (and sorry for sounding bitter, I will get over it)
  15. Guest


    Hi, We're coming to Melbourne in Jan 2010 for 8 weeks. Since we're so far from home here in Freezing Belfast we thought we'd take a wee look around South Island NZ. In a motorhome.:biggrin: I will need NZ dollars changed from Sterling. Do I exchange the lot into AUD and then the AUD into NZD ? Or get the NZ currency at home before we go ? Can't find a suitable site with the info. Please try to help. Isn't this a brilliant site:jiggy:
  16. Guest

    Long term prospect Of GBP

    Hi all Me and my wife are studying in Aus, with the long term goal of staying. We have some GBP in a savings account in the UK (earning no interest). We are in no rush for the cash over here, but i am wondering if the pound will improve against the AUS Dollar over the next year or so? or should we look into exchanging now? Any advice is very much appreciated Tim
  17. cowgirlfromhell

    Exchanging AU cash for GBP

    Just wondering if anyone can tell me whether its better to take AU dollars to England and change my cash there or swap my dollars for pounds whilst still in AU?? Thanks..appreciate if anyone can tell me as im leaving to go to England Sunday....
  18. benny2009

    Holding GBP in Aus

    Hello all! I was wondering if anyone is holding or has held their GBP in Australia in order to exchange at a later, more favourbale rate. The reason I ask is because the GBP to AUD rate is completely terrible at the moment. Also, when exchanging the GBP to AUD at a later date e.g after 1 year of residence in Australia give rise to any tax? Has anyone experienced this situation? Any advice would be appreciated. Thanks.
  19. GBP/AUD is currently at the lowest levels seen since 1996. Sterling has fallen significantly in value because its yield (interest rates) has fallen to 0.50% and the BoE have pumped a huge amount of money into the economy, further undermining its value. The UK economy is also in dire straits with rising unemployment and a housing market on the verge of collapse. But it’s not all doom and gloom people! Contrastingly, the Australian economy has actually weathered the global economic storm quite well and is only experiencing a very shallow recession; the number of people employed actually went up last month! Australian interest rates are still high compared to other OECD countries and are also expected rise more quickly than the UK. Thus, Australia’s better economic position, exposure to emerging economies and its attractive yield have resulted in a significant appreciation of the Australian Dollar against Sterling. This is certainly a good thing for those of you looking to send funds back to the UK. For those that aren’t and are actually looking to bring Sterling to Australia, now might be a good time to protect yourself from the rate going against you further, by taking out a ‘forward contract’ – basically locking in today’s rate for payment at a future date. Make sure you discuss the benefits of a forward contract with your currency provider, as they can be a very useful tool to not only protect you from adverse rate movements, but also give you peace of mind in knowing that your rate has been locked in. Feel free to contact Currency Online to discuss how to best manage your currency needs. Kind Regards, Jon Speedy Currency Online – Moving Money Made Easy
  20. My boys school trousers cost $85 each for a plain navy blue pair. I purchased 10 of them from M&S for 7.00 GBP much better quality! They are much better than the school shop ones and there is no noticable difference. The same goes for the blue short sleeved shirts! My poor sister can now stop being the local delivery depot! Happy shopping! :emoticon-signxmas:
  21. We are currently in Australia but would like to buy a little property in the UK. We have accountants and power of Attourneys to sign any documents etc. I just don't want to buy a property in Oz. If anyone is interested please send me details of your property. We are pretty flexible but would prefer Wiltshire, Hampshire or Somerset. However, we are flexible! Kind regards
  22. Guest

    GBP left in UK

    Hi. What are the implications of bring GBP from UK 6 or 12months after arriving in oz? The reason being that the rate is awful at the time of arriving. thanks:smile: