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It has been some years since I posted on here but now I am in need of advice. The story, I emigrated to Oz over nine years ago at three months over the age of 65 and was already in receipt of the UK State pension, my company pension and a small annuity, the total being just over £1400 a month. On emigrating I have used MONEYCORP to transfer £1400 every month to my bank in Oz and everything has gone perfectly for nine years until this week. In the past I have elected to fix an agreed exchange rate rather than accept the floating rate and this contract is due to end next month. I was contacted by MONEYCORP to remind me that the contract was coming to an end and to contact them and informing me of the various options open to me for the continued transfer of money. There were three options, £1400 from UK at a floating rate, £1400 from the UK at a mutually agreed fixed rate for up to two years and finally a fixed amount of AUS $ to my Oz bank at a floating rate. on speaking to MONEYCORP they said that they are withdrawing from this service, that none of the options are open to me and thanks for your custom. Bye Bye. This is not a complaint against MONEYCORP and as I said at the beginning their service has been very good and I’ve been very happy with them. They have simply stopped offering this service. i cannot be the only person this has affected and I am looking for advice from people who have been put in the same position of names of reputable companies ect who would be willing to take over where MONEYCORP have left off. many thanks for reading. mamba

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/

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.

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/

A Guide to Sending Money Overseas Hundreds of Poms in Oz members have benefited from using Moneycorp for their international money transfers. Moneycorp’s services are straightforward, simple to use and will save you money. The following text outlines the 4 step process and how it works. 1. Set up your Moneycorp account To start making money transfers, you will need to open an account with Moneycorp. This can be done online and only takes a few minutes - click here to register Opening an account carries no costs or obligations on your behalf. 2. Choose the best solution for your needs Once your Account is set up, your personal account manager will contact you to identify and discuss your specific requirements. They will be your personal point of contact for all future transactions and will explain the proposed course of action and options that best suits your personal needs. 3. Arrange your finances Once you have verbally agreed to a money transfer with your personal account manager, you will be sent a Contract Summary outlining the details. This document will include a form giving you instructions on how to transfer your funds to Moneycorp. The Contract Summary will also include a Transfer Instruction form, on which you will need to put details of the bank account(s) into which you would like your currency to be paid following your transaction. For further information regarding the different options when buying your currency, please click here 4. Payment methods You may use one of a variety of payment methods to send your funds to Moneycorp. Everything will be explained clearly by our staff and there is a dedicated customer service team who can help you with any questions you might have. Poms in Oz & Moneycorp Exclusively for PomsInOz members, you will not pay any transfer fees when sending your money overseas. Register with Moneycorp by clicking here For more information, call +44 (0)20 7589 3000, please remember to quote PomsInOz.

With reports of regular breaches of online security, it would be wise to fully understand how your chosen Financial Institution protects your money. Here we detail how Moneycorp stores your funds securely and ways to protect yourself online: https://www.moneycorp.com/en-au/news-hub/staying-secure-online/

Hi everyone! I hope this finds you all well today and in good health ~ We've had many members take up our special PIO promotion of up to £50 cash back - which is great to see! Don't forget you can all benefit from this until the offer closes on 31. May. For the members new to Moneycorp & currently making their first transfers with us, I wanted to give a quick 4-step process to opening your account: A Guide to Sending Money Overseas More than a thousand Poms in Oz members have benefited from using Moneycorp for their international money transfers. Moneycorp’s services are straightforward, simple to use and will save you money. Here's the 4 step process and how it works: 1. Set up your Moneycorp account To start making money transfers, you will need to open an account with Moneycorp. This can be done online and only takes a few minutes - click here to register Opening an account carries no costs or obligations on your behalf. 2. Choose the best solution for your needs Once your Account is set up, your personal account manager will contact you to identify and discuss your specific requirements. They will be your personal point of contact for all future transactions and will explain the proposed course of action and options that best suits your personal needs. 3. Arrange your finances Once you have verbally agreed to a money transfer with your personal account manager, you will be sent a Contract Summary outlining the details. This document will include giving you instructions on how to transfer your funds to Moneycorp. Your account manager will also explain how to send funds to your nominated bank account(s) following the transaction. For further information regarding the different options when buying your currency, please click here 4. Payment methods You may use one of a variety of payment methods to send your funds to Moneycorp. Everything will be explained clearly by our staff and there is a dedicated customer service team who can help you with any questions you might have. Poms in Oz & Moneycorp Exclusively for PomsInOz members, you will not pay any transfer fees when sending your money overseas. Register with Moneycorp by clicking here For more information call +44 (0)20 7589 3000, or +61 2 8228 1490 ~ please remember to quote PomsInOz.

Hi everyone ~ I hope we'll all be able to enjoy the best Easter weekend we can; friends, family and the things you love the most. Just wanted to send through our weekly round-up of the major currency movements from last week's Covid market - understandably a very volatile time - Weekly Update 10.April 2020 GBP Held back by PM’s absence The FX market was not at its most coherent over the shortened pre-holiday week. Initially the mood was upbeat, in anticipation that the tragic Covid-19 pandemic would soon have run its course and that life would return to normal. Then the doubts set in, and then they evaporated again. Sterling found itself in no-man’s land, left behind, in turn by the safe-havens and the commodity dollars. An eventual net average loss of 0.8% left sterling level with the US dollar and cost it a fifth of a euro cent. It lost appreciable ground to the Australian and NZ dollars. Sterling’s situation was not improved by the prime minister in the intensive care unit of St Thomas’s Hospital. In his absence the government found it difficult to avoid looking indecisive and investors were less than impressed. EUR No agreement on fiscal stimulus The purchasing managers’ index readings on Friday provided a reminder of just how difficult life has become for the services sector in parts of Europe. On a scale of 0-100, where 50 represents stagnation and zero means annihilation, Italy scored 17.4 in March. Euroland as a whole was not a whole lot better at 26.4 and the composite euro zone reading was a dismal 29.7 (UK 36.0). For the euro the biggest challenge was the failure of euro zone finance ministers to find common cause on joint fiscal stimulus. After a 16-hour video conference on Tuesday the Eurogroup was unable to agree on a way to provide emergency finance to the countries – particularly Italy – hardest-hit by the tragic Coronavirus. The impasse highlighted the EU’s national divisions but did not prevent it picking up a fifth of a US cent. USD Rides out job losses In the normal course of affairs the single most important US economic statistic is the monthly change in nonfarm payrolls. Over the last 12 months they averaged a 150k increase. Last Friday’s figure, nominally for March, was an aberration, falling 701k. However, the timing of the data completely understated the carnage that has taken place in the US labour market. In the last two weeks 10 million people signed on unemployed and another six million are likely to have joined them in this week’s figures. However, so inured are investors to miserable statistics that there was no reaction from the US dollar. It was unchanged against sterling and a fifth of a cent lower against the euro. AUD This week’s top performer Although the data and economic news from Australia were mostly mediocre, the Aussie was the week’s top performer, strengthening by an average of 1.7% against the other majors. It took more than five cents off sterling and added one and a half US cents. The main driver for the Aussie was the same one that demoted the safe-haven Japanese yen to the back of the field. Investors found renewed confidence that things would be alright as soon as Covid-19 has vanished. It may have been premature but, ‘Fear Of Missing Out’, took risk assets and commodity currencies higher across the board. February’s 0.5% monthly rise in retail sales was irrelevant but the downturn in international trade for the same month was at least in part a function of the shutdown in China. When the Reserve Bank of Australia left its benchmark Cash Rate unchanged at 0.25% on Tuesday it noted that “a very large economic contraction is… expected to be recorded in the June quarter and the unemployment rate is expected to increase to its highest level for many years”. NZD Following the Aussie True to form, the Kiwi shared some, but not all of the Aussie’s fate. This week it had a positive effect, taking the NZ dollar an average of 0.9% higher against its peers. It added one US cent and took three and a half cents off sterling. NZ data showed a 3.9% monthly fall for electronic card retail sales in March and a 1.2% fortnightly increase in dairy prices. The most interesting number, however, was the sharp fall in business confidence. NZIER’s Quarterly Survey of Business Opinion found confidence plummeting from -21% to -70% in March. A net 16% of firms plan to reduce headcount in the next quarter.

Happy Friday evening everyone, I'm not sure if too many people follow the USD movements, but at the moment the USD and the Dow Jones is having a significant effect on the world's currrencies. I thought I'd add our USD weekly round-up tonight for anyone who's interested. I hope everyone has a restful weekend ~ USD weekly roundup – Friday 27. March. The US dollar has remained relatively resilient so far during the pandemic, but events have shown that it is not entirely invincible. As the virus continues to spread across the US and it is clear that the country isn’t insulated against such global woes, and this has impacted the US dollar. The US Federal Reserve cut its Funds rate twice in March; it now stands at 0-0.25%. This isn’t the only action available to the Fed and they’ve taken a comprehensive approach, making swap arrangements to provide dollars to the central banks of Australia, Brazil, South Korea, Mexico, Singapore, Sweden, Denmark, Norway and New Zealand, allowing them to tap up to $450 billion. It has also pledged to soak up a wide range of securities in order to calm markets, support businesses and keep credit flowing. A decade ago the Fed’s early rounds of quantitative easing purchases were limited to US Treasury instruments. The criteria broadened in subsequent rounds of QE. The Fed’s latest “whatever it takes” programme opens the floodgates to all manner of instruments and sets no limit on what it will spend, which means almost unlimited quantitative easing. This week, US equities fell by 16% at one point and some investors are starting to look forward to life after the worst of the pandemic has receded. Investment bank Morgan Stanley estimates that the US economy will shrink by 30% in the second quarter. St Louis Fed President James Bullard is more optimistic, suggesting that “a potential $2.5 trillion hit coming to the economy is both necessary and manageable… an investment in public health that lays the groundwork for a rapid rebound.” In either case, it may be that it is too close to call at the moment. Pressure on the dollar has come from the perception of the government’s response to the pandemic; the USD2trillion package is expected to be approved by the end of the week. Many feel that the US have been late off the blocks when it comes to offering support and may not have done enough to prevent the spread of the virus in the meantime. Employment numbers are expected to show a jump of 2m people unemployed, but in the circumstances this may not prove catastrophic of the dollar when the results are published. While it is difficult to project with any certainty, what is clear is that for some time the US dollar may have been operating business as usual, but there is nothing usual about the situation that the world has found itself in. Liquidity is in short supply and fluctuations this week have shown that the US dollar is not entirely immune to the same pressures as its currency rivals. The situation is changing by the hour and if you’re looking to buy or sell US dollars, it’s worth working with a currency specialist like moneycorp. As well as allowing you to organise your transfer online or over the phone while you’re staying at home, great rates, low transfer fees and expert guidance on the rapidly evolving market will help you make the most of your money and get it where it needs to be in such difficult times.

Hi Everyone, Here's the latest overview that we have regarding the GBP/AUD market: currently 1.9730 as we speak - What’s happening to the AUD/GBP exchange rate? A quick look at the performance of the Australian dollar in the FX market during the global pandemic The Australian dollar has been under pressure all year; as a commodity-based currency, it was among the first to struggle due to the impact of the coronavirus. Now, as the countries implement various forms of lock-down and governments scramble to deliver aid packages to support workers and stalled businesses, the picture has become more complex and there is further volatility in the FX market which is causing fluctuations in the Aussie. The initial stimulus plan announced by the Australian government, including AUD 25,000 to small businesses and AUD 750 to every welfare recipients, did nothing to help the Australian dollar. The measures were announced in concert with a second rate cut from the Reserve Bank of Australia (RBA), which also announced a funding facility for SMEs and a 0.25% target rate for three-year government bonds. Neither did anything to help the Aussie, which fell by an average of 2.1% against a basket of currencies, including three cents to the pound. It isn’t all bad news; the RBA’s AUD 5bn stimulus by buying up government securities did give the Australian dollar a boost and it made gains against the US dollar. The move was seen as a positive for local stock markets which could help the currency in the coming weeks, although investors remain cautious. News from the US Federal Reserve inadvertently provided assistance to the Australian dollar this week at a time when the pound succumbed to the sustained pressure of the crisis. The Aussie made gains against sterling following the Fed’s plans to buy government-backed debt, which led to brief optimism in global financial markets. This optimism extended to a belief in the efficacy of the second coronavirus stimulus package from the Australian government. The relief is now equivalent to almost 10% of Australia’s GDP. At the moment, statistics are largely being ignored but the provisional purchasing managers’ indices from Australia showed a surprise 50.1 for the manufacturing PMI. The composite measure came in at 40.7, however, because the services PMI was recorded at 39.8. The reason that the numbers have such little impact is that such a drop in performance is expected across the globe. The challenge for the Australian dollar is that investors expect that the current crisis may put the country into a prolonged recession. Against the pound, the Australian dollar remains volatile. Both currencies are under pressure and much relies on the effectiveness of the respective government efforts to stem the spread of the virus as well as the economic measures designed to support the economy. The US will also be a factor for both currencies because of the impact on global financial markets and the US dollar is currently under pressure after a support package was stalled in Congress and the government aid response to aid was found lacking. The situation is changing by the hour and if you’re looking to send funds back to the UK or elsewhere in the world, it’s worth working with a currency specialist like moneycorp. As well as allowing you to organise your transfer online or over the phone while you’re staying at home, great rates, low fees and expert guidance on the rapidly evolving market will help you make the most of your money and get it where it needs to be in such difficult times. Moneycorp is a reference to TTT Moneycorp Pty Limited which is registered in Australia (business number 116612858). Its principal place of business is Level 15 Exchange Tower, 2 The Esplanade, Perth WA 6000, Australia. TTT Moneycorp Pty Limited is authorised to deal in foreign exchange contracts and buy/sell quotes to retail and wholesale clients as an Authorised Representative (reference number 445555) of Rochford Capital Pty Limited (AFSL License No. 361276).

Hi everyone! Just thought I'd say Hello and introduce myself - my name's Susan and I look after the Moneycorp Australia office over here in Sydney I've been here a while - originally from the UK - and have been through the Migration process myself; so I completely understand how frustrating/painful/maddening/exciting/brilliant/crazy it can be! I do a lot of travelling & have been in the Banking business most of my life, so if I can help in any way just ask the questions

https://www.moneycorp.com/en-au/news-hub/what-has-been-the-impact-of-the-coronavirus-on-the-australian-dollar/

Which is the better option in transferring money to Australia , Moneycorp or Transferwise ? Any other suggestions? I am looking to transfer something between 5000 GBP to 8,000 GBP to an Australian bank account ?

Interested in potentially getting a better deal than your bank when sending money overseas? If so, you should consider using a foreign exchange specialist company when sending money to or from Australia. A specialist company, like Moneycorp, can offer you great exchange rates and free expert guidance on the Australian dollar to save you time and money when transferring money abroad. When using Moneycorp you can expect exchange rates that are typically up to 4% better than you would get from a high street bank - this can make a huge difference to your finances. Special offer - no transfer fees Your bank may charge you anything from £20 to £40 (or currency equivalent) to send your money to or from Australia. Moneycorp don’t charge commission and exclusively for Poms in Oz members all transfer fees are waived – so you can save money on transfer fees alone. How can I register for a free Moneycorp account? Thousands of forum members have saved money by using Moneycorp. It’s simple to register for a free account and the process only takes a few minutes – click here to register online with Moneycorp.

just tried to open an account with moneycorp, recieved an email to say that they can't transfer funds due to strict regulations in Australia??.

Hi I'm a brand new member due to immigrate in Australia from France. I'm struggling with which bank which money transfer question and would be grateful to hear anyones advise and/or experiences. Oh we're moving to WA Perth or south of Perth area if that makes a diiference. Thanks!

Hi guys, Just looking at which bank to go with here in AUS and as i will be using MoneyCorp i was wondering what charges (if any) people have encountered when transferring money in and out of the counry (to/from the UK) with the AUS banks.... ...I have ben thinking about going with Commenwealth Bank but not really sure.... It states on their website they charge $22 for international money transfers but i'm unsure if this would be charged if going through MoneyCorp Cheers Roflie

so im assuming Moneycorp dont do this for the goodness of there health so where do i lose money/ where do they make money. If im transferring £20000 at a 1.60 rate will all that still be mine or do i lose it to money corp or the bank, im with westpac

Plan ahead by moving overseas with the experts! Moving to Australia is not without its ups and downs. To make sure you stay ahead of the game, it pays to be well informed. Everyone wants to start their new life down under with as much money as possible and there are a number of things you can do to ensure you make the most of your funds. Key topics always discussed on the forum include moving your possessions and transferring your money into your new Australian bank account. Poms in Oz is hosting Live Chat sessions with leading experts in banking, currency exchange and international removals. These sessions will take place today from 12pm-2pm and 8pm-10pm (UK Time). National Australia Bank, Moneycorp and PSS International Removals will be on hand to answer any questions you may have about your move. To participate in the chat sessions, select the 'chat' menu option at the top of the page., this will launch the chat software. There will different 'rooms' for each of the different companies. If you are an unregistered visitor, to take part, use this link - Chat with Industry Experts. Once the chat software has loaded, tick the 'Guest' option at the top of the chat window, then choose a username and enter the 'Moneycorp, NAB or PSS' chat rooms. National Australia Bank [img2=right]http://www.pomsinoz.com/images/chat-nab.png[/img2] Rebecca Joils will talk about the Australian Banking system providing you with some insights as to what is different between the UK and Australia. She will also talk about how straight forward it is to open an Australian Bank account before you leave home and some of the services you should consider. Moneycorp [img2=right]http://www.pomsinoz.com/images/chat-moneycorp.png[/img2] Whether you are moving to Australia, or living there already, Jonathan Griffith and John Kinghorn will bring you the latest updates on the Aussie dollar and provide insight into the key factors influencing market movements. Exchange rates are constantly fluctuating and transferring your funds at the right time, via the right channel, can make a big difference to the amount of money you actually end up with. PSS International Removals [img2=right]http://www.pomsinoz.com/images/chat-pss.png[/img2] One of the key ingredients when you are moving overseas is the planning of your removal. Liam Witham and John Moynes will be on hand to offer advice and answer any questions you may have regarding the packing and shipping of your household effects, including what items you can ship to Australia, Australian Customs procedures and AQIS. Whether you are importing household effects or just a vehicle, it is never too early to start researching or to start the process.

Hi everyone I have been asked if I can receive money via Moneycorp as it might be cheaper for me to receive the money this way and for the person to send it. Does anyone know if this is possible? Is there any cost to me to set up / receive / withdraw via Moneycorp? Any advice would be appreciated. Love Rudi x

hi to all ive just sold my house and pondering should i put all my proseeds into moneycorp in one go or drip feed it any help tonyl

Just a quick reminder that we are currently holding a live chat session with Moneycorp, which will run until aprox. 21:30 UK time. To take part, click the 'chat' button at the top of the page (in the orange menu bar) or use this link - Moneycorp Chat Once the chat software has loaded, enter the 'Moneycorp' chat room. (If you're a guest on the website, when the chat window loads, click the green icon next to where it says Unregistered ( available) - then choose 'Edit your profile' and choose a nickname first.) John Kinghorn and Jonathan Griffith from Moneycorp are hosting the chat and will be on hand to answer and exchange rate / money transfer queries you may have The session will will last approximately 2 hours. Whether you are moving to Australia, or living there already, John will provide the latest updates on the Aussie dollar and give you some insight into the key influencing factors. Exchange rates are constantly fluctuating and transferring your money at the right time, via the right channel, will make a big difference.

We are almost at the stage where we need to choose an FX company to transfer some money over to Oz and wondered if you could help us with our decision of who to use? Can anyone give us comparison tips and suggestions on who to use? Thanks very much!

Weekly currency update from Moneycorp [moneycorp]10168283[/moneycorp]

Just to remind people that in 7 days time - 31st March 2010, we will have Nat from Moneycorp live online to answer any questions you may have on the Australian Dollar. The session will start at 8am (EST), 9pm UK time, and will last approximately 2 hours. I will post another reminder a few days before.