Search the Community

The past 24 hours have seen the Australian Dollar surge to highs v the Pound that PIO members will not have experienced since 2017*, so if you are considering transferring any funds back to the UK now could be a good time for you. A combination of the Royal Bank of Australia leaving its cash rate unchanged at 0.1%, soaring commodity prices, a strong trade surplus and the ongoing war in Ukraine are the major contributing factors aiding this. Poms in Oz have partnered with multi-award winning Australian based (but founded by two Poms), Send Payments to provide our members with a cost-effective method to transfer funds securely from Australia to the UK. Receive a free exchange rate quote *Article written on 06/04/22

The past 24 hours have seen the Australian Dollar surge to highs v the Pound that PIO members will not have experienced since 2017*, so if you are considering transferring any funds back to the UK now could be a good time for you. A combination of the Royal Bank of Australia leaving its cash rate unchanged at 0.1%, soaring commodity prices, a strong trade surplus and the ongoing war in Ukraine are the major contributing factors aiding this. Poms in Oz have partnered with multi-award winning Australian based (but founded by two Poms), Send Payments to provide our members with a cost-effective method to transfer funds securely from Australia to the UK. Receive a free exchange rate quote *Article written on 06/04/22

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.

Great exchange rates with moneycorp Are you transferring money to or from Australia? If so then get great exchange rates with moneycorp – plus, as a special offer for Poms in Oz forum members, there will be no transfer fee charges. High street banks can typically charge £10-£40 in transfer fees when making an international payment. See the table below for an illustration on the potential savings you could make by using moneycorp. *based on an exchange rate comparison taken on 1st January 2018 between Lloyds, HSBC, Natwest and moneycorp. Please note that there are additional costs with the service, the high-street banks typically charge £10-£40. Get started with moneycorp and start saving money – https://www.moneycorp.com/uk/campaigns/partners/pio/ 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).

I've been reading a lot of threads about buying houses, renting houses, buying shopping and all those money type things..but I did notice everyone talking pounds and not dollars. A big one is 'what to do when I first arrive' and people looking at places to rent for $700 a week! WOW! Its not so much of a WOW! when I start to think about pounds shillings and pence, and not very much to pay when you've already paid so much to get here. But that is a WOW rent here. $700 a week doesnt sound much but over a 12 week period its huge..and it comes out of what you brought with you to buy that beautiful house with a pool. I sound like a 'party pooper' but I not I just worry about some of the threads, so always think in terms of Dollars, when you think here, i.e. your new job pays in Dollars and mortgages are the same 3 times salary, plus 1 iif your partner works, theres other mortgages I know but I'm just using the standard. It is all relative guys, you will be on our rates of pay...mortgages, shopping, cars, school fees as lots of you seem to want to go private, will have to be paid for out of your new salaries, so please think Dollars and not Pounds x

Does anyone have a guess? I've got some money to move from the UK so would it be best to do it before or after the 17th?

Aussie Dollar has moved higher. I pound now equals $1.48 http://www.news.com.au/national/aussie-dollar-closes-marginally-higher/story-e6frfkw0-1226090935408 Good news for some. Bad news for others.

Surprisingly, sterling has been the best-performing major currency so far this year, writes Liz Phillips It’s up against the US dollar and the euro, as well as against last year's strongest currencies - the Swiss franc, Japanese yen and Aussie dollar. This is great news for pensioners and those living off savings held in sterling. You could be getting the best rates for two years. But for the thousands who had given up and are just about to head home, it won’t be welcome unless they took steps to lock into the best rates for their local currency last year when the pound was struggling. So what is going on? Part of the boost has been a growing belief that the UK may be the first major economy to raise interest rates. The Bank of England Monetary Policy Committee meets tomorrow and faces a difficult decision. The jump in oil prices caused by the unrest in Egypt and neighbouring countries will fuel inflation, already at worrying levels. Yet a hike in rates may damage the fragile economy. If interest rates are kept on hold again this week we may see a temporary dip in the pound, but the majority view is that the pound could stay strong in the medium to long term. Both the pound and the euro have had a good run so far this year, but signs are that the euro may have run out of steam. It fell against the US dollar and the pound this week, with further falls expected. The market was shaken at the start of the week by a larger than expected drop in German industrial orders. Weakness in the German recovery helps push the prospect of an EU interest rate rise further away. In addition, reports of infighting among the 17 member nations of the currency bloc over the best way to deal with the debt crisis have kept the euro on the back foot. A French and German push for a comprehensive package of reforms to address the crisis has met with opposition and jeopardised plans of achieving a comprehensive new bailout regime by the March target. Greece’s finances are currently centre stage with officials from the International Monetary Fund , the European Commission , and European Central Bank (CBSU.PK - news) in Athens this week. They will be deciding if Greece has done enough in terms of restructuring its economy to get a further €15 billion - the next instalment of the bailout plan agreed last March. Greece has spoken out against Germany’s latest proposals saying it gives the EU too much power to interfere with national constitutions. Other troubled nations - Portugal, Belgium, Spain, Italy, Austria and Ireland (Berlin: IIK.BE - news) - have also raised objections. They argue Germany and France are going too far in attempting to exert control over sensitive issues such as taxes, pensions and wages. “Getting 17 member nations to agree on a unified retirement age, public sector wages and harmonising welfare systems may be harder to implement than the intended reforms," said Vimal Popat of Cambridgefx . “The European economic policy crisis is in danger of turning into a political one if member nations cannot reach an ultimate resolution and this uncertainty is likely to impact the currency even further. Therefore, the euro’s reasonably strong performance so far this year seems, in my opinion, unsustainable.” In contrast, the UK, while facing similar pressures to the eurozone, has a distinct advantage with only a single monetary programme to follow. UK fiscal policy has, so far at least, impressed the markets. According to Chris Saint, senior currency analyst at Hargreaves Lansdown , both sterling and the euro have been boosted so far this year by “a cautiously optimistic mood that the European sovereign debt crisis can be contained”. The events of the past week however have been a reminder that these problems are not going to disappear any time soon. “So with the UK’s banking sector seemingly on a surer footing there appears to be further scope for sterling to make up ground against the euro," he adds. “This would offer some relief to embattled expats still needing to exchange sterling to cover overseas living expenses.” :smile:

Hello or should I start saying G'day?!! Offsky in 2 weeks and still unsure of what to do re: exchanging money cos of exchange rate crisis. I'm ok with the procedure and ready to act BUT.. Anyone out there got any enlightened views on which way things will go in the near to mid future. Tempted to just do it before it gets any worse... replies gratefully recieved Dan the piano man.

Get your thinking caps on chaps.... :cry: It seems as though the pressure on China to revalue the Yuan is now reaching critical mass. The US, the EU and now Japan are all demanding the Chinese government allows the currency to rise in value. This will, of course, make Chinese goods more expensive , less attractive and give them less purchasing power and hence will slow down their economy. In turn, this would have a negative effect on the AUD as the construction sector in China gets hit. Whilst China holds a wad of US treasury bonds, Euros and Yen do they have enough power to dictate to the world that they can do what they want with their own currency? Or will this lead to protectionist strategies as other countries block Chinese goods or tax them out of pole position in our shops?

On reading the forum I can see how easy you lot of new arrivals have it these days. When I arrived as a five year old in 1954 we did it tough let me tell you! :laugh: Seriously, most of what I remember was good fun, we were on a passenger ship for four weeks and I have fond memories of the trips ashore in Colombo, Ceylon (now Sri Lanka) and Bombay (now Mumbai), India. When we got to Perth one of the stewards came down with smallpox, so the ship was diverted from its planned route to Melbourne and we landed in Adelaide where the main Quarantine Station was. It was on a place called Torren's Island, but my two year old sister and my self had chickenpox, so our family had to be quarantined from all the other passengers. When we finally got to the city we were dumped in a migrant hostel at Finsbury, now Pennington, which wasn’t fun at all. My father got a job quickly, he was a qualified wood machinist, a trade much in demand, but there was an acute housing shortage. He got a new job in the south east of the state at Mount Burr which came with a brand new timber built house. I started school there and soon settled in. Migrant kids were almost in the majority, we had Poms, Dutch, Italians, Greeks, various Balts, Yugoslavs, even a couple of unlucky Germans. But we all eventually got on. There was no TV, only the radio, and we played in the pine forests and scrub land. On weekends we went fishing and hunting with our fathers. Gathering firewood for our wood fires was also a regular activity. My father was a returned RAF airman and joined the RSL and we had an active social life. He bought a car, a Morris 1000 van, and we went camping around the country during the holidays. I just hope that the children of all you new arrivals have as great a time as I did as a new kid in Australia!

ImmiTV (DIAC's Youtube channel) have posted the original £10 pom tv commercials online. [YOUTUBE]TA_0B2yXMDU[/YOUTUBE] [YOUTUBE]JoY29Y6Y_lQ[/YOUTUBE]

Hello, Does anyone know how to do a GBP pound sign on an aussie keyboard? Our UK laptop died.....

I'm writing this due to a conservation I had recently with another member of PIO, and they raised a very valid point in my opinion. Firstly this is NOT a thread that is meant to start yet another argument, I hope it is taken in the way that it is meant. I used to work with a fella by the name of Kevin, we worked together in Hyde Park, Perth, a great time in my life and one that I really enjoyed, I have digressed again, sorry. Anyway it turned out that Kev's parents were one of the original ten pound pom influx. He would often make me laugh, and at times the stories he told me about the sacrifices his parents made me really think about what had gone before. I and I guess some of us forget what it must have been like back in those days. (Created as part of the "Populate or Perish" policy, the scheme was designed to substantially increase the population of Australia and to supply workers for the country's booming industries. In return for subsidising the cost of travelling to Australia adult migrants were charged only ten pound sterling for the fare (hence the name), and children were allowed to travel for free, the Government promised employment prospects, housing and a generally more optimistic lifestyle. However, on arrival, migrants were placed in basic hostels and the expected job opportunities were not always readily available) The above was nicked this from Wikipedia as it explains much more about the actual policy than I can, sorry for that. Anyway, what I am trying to say is this. From my conversations with Kev, and having read nearly every book about Australia and the ten pound poms I have come to realise that maybe, just maybe we do not in this present day realise how bloody lucky we are to have been given the opportunity to live and work in Australia. I know we can all have a moan and a bitch about Australia, I will be the first to admit that I occasionally find something to moan about, but in the main I appreciate what Australia and the Aussies have given me. Lets face it, we are 'generally' far better of monetary wise when we emigrate. The job opportunities are far greater, (well at least greater than back in the ten pound pom days). We are far better equipped to deal with the transition, both emotionally and financially. And in no small measure we should remain thankful to the 'original' ten pound poms for the trail they blazed. I realise that we can all find the whole process rather daunting and worrying, but compare your own situation the 'tenners'. Very often they were promised far better jobs, housing, health care, etc. But in reality they often found themselves in a country that was not what they had expected and for 'some' it became a living nightmare. No blame is being put here, none, but I think we can lose sight at times of how good Australia has been to us and how far we have all come in a several decades. We have every right to say that some things in Australia may not be to our liking, BUT. I think at times we forget that the Australian authorities 'DID NOT' have to let us in. If we go with preconceived ideas then that is not the Aussies fault. To a degree the ten pound poms were given unrealistic expectations of their future lives, BUT. They endured far greater hardship upon their first arrival and most of them got their head down and made a life for themselves. The grit and determination this must have taken at times is I expect beyond our imagination. Migrants owe an awful lot to Australia and the Australians, but more importantly we owe a great deal to the original ten pound poms. Fair play to them, after hearing and reading a lot of their stories I admire them greatly, and realise the next time I want to have a 'whinge' or moan I should take a step back and be thankful that Australia is now the country it is now and has given us opportunities that our ancestors could only dream about. Cheers Tony:wink:

The GBP seems to be strengthening against the AUD. I have looked at the news and there doesnt seem to be any obvious reason why. Does anyone know?

Hi Guys, A funny but good day! Today was a much better day as you all will be aware finally some good news nearly +5c for the pound indeed breaking 1.7. Is this a blip or is it the start of the upward recovery? I'm going to emigrate Sept 2011 having got my 175 in March. I've £90K to take over and would like to see an ER of about 2.25 A$ to 1£. Is there any likelyhood - any ideas? What do people think? Why did the £ appreciate - Aussie taxes on the Mining industry, German finances - what?I just don't want to have false hope. Has anyone got an educated prediction and/or guess? Any thoughts would be much appreciated. Cheers Nige

I have not taken any notice for about 12 months but I am sure it was about 2.10 to the pound :eek: now I see it is 1.6 did I really see it at 2.10 to the pound or was I dreaming?

Immigration figures suggest Australia is becoming less attractive for Brits and that many are going home due to the cheaper pound. SOURCE

Currency Online – Moving Money Made Easy Hi there, The UK pound had a relatively unspectacular week against the Australian dollar. The pound did manage to lose a bit of ground against the Aussie early in the week, as some fairly flat to negative data out of the US had markets questioning the speed of the global recovery and growth sensitive currencies like the Aussie dollar declined. Appetite for the “safe haven” US dollar weighed on both the GBP and AUD. Retail sales and CPI data out of the UK last week were pretty much as the markets expected and did little to stimulate UK pound demand. As for this week, a heap of data out this week for the markets to get their teeth around, including UK GDP for Q3. This week’s focus will be on data results and this will govern direction for the short term. Good data is good for market sentiment, which in turn is positive for both the Aussie dollar and UK pound against the US dollar. Aussie dollar strengthens (usually!) against the pound when the markets are positive. GBP/AUD High’s & Low’s (Bid) of last week; High: 1.8110 Low: 1.7880 GBP/AUD Expected Range for the Week: High: 1.8250 Low: 1.7725 Click here to view GBP/AUD historical charts Remember – it’s not about guessing as to which way the rate will move, it’s about managing your needs depending on your propensity for risk and your timeframe. Talk to your currency provider today about how to best manage your currency needs. What is a Spot Contract? Click here How can a Forward Contract help you?Click here How can a Market Order help you? Click here Kind regards, Jon Speedy Currency Online – Moving Money Made Easy

Currency Online – Moving Money Made Easy Hi there, The Pound had a bit of a roller-coaster week. To its credit, the pound did recover after a mid-week dive which saw the GBP/AUD cross dip to as low as 1.78. Both currencies are currently benefiting from a weaker US dollar which continues to get slammed. Positive data showing there are signs of a global recovery has been bad news for the greenback. The ‘safe-haven’ appeal of the US currency is becoming less and less. As for this week – there is a bit of important data due out of the UK this week, including CPI data and Retail Sales. If these figures come out positive - and there is every possibility they will - you could see the UK pound continue to recover. “Hooray” I hear you say! GBP/AUD High’s & Low’s (Bid) of last week; High: 1.8090 Low: 1.7810 GBP/AUD Expected Range for the Week: High: 1.8300 Low: 1.7850 Click here to view GBP/AUD historical charts Remember – it’s not about guessing as to which way the rate will move, it’s about managing your needs depending on your propensity for risk and your timeframe. Talk to your currency provider today about how to best manage your currency needs. What is a Spot Contract? Click here What is a Forward Contract?Click here What is a Market Order? Click here Kind regards, Jon Speedy Currency Online – Moving Money Made Easy

Currency Online – Moving Money Made Easy Hi there, Although the UK pound appreciated last week against the US dollar, so did the Australian dollar. The GBP/AUD cross therefore had a fairly unspectacular week. Fairly range bound with activity between the two currencies limited to between 1.80 and 1.83. As for this week, there is a fair bit of data out of the UK to give markets a better idea as to how the UK economy is performing. This includes Trade Balance data, the Bank of England Inflation Report and the UK Unemployment Rate. You just have the feeling, one if not more of these figures are going to come out on the shabby side. Confidence survey data and employment figures are due out of Australia as well this week and these could point to further strength in the Aussie economy. Governor Stevens was on the wires last week re-evaluating the inflation forecast upwards for the foreseeable future – this will only provide support for the Aussie dollar. The next few days will give us a better idea how this cocktail comes out. GBP/AUD High’s & Low’s (Bid) of last week; High: 1.8295 Low: 1.8090 GBP/AUD Expected Range for the Week: High: 1.8350 Low: 1.7850 Click here to view GBP/AUD historical charts Talk to your currency provider today to discuss how best to manage your currency needs. Currency Online – Moving Money Made Easy

Currency Online – Moving Money Made Easy Hello all, Against all predictions, there was a bit of respite for the beleaguered UK pound. Financial markets are always nervous. The recent trend has been to sell the safe haven currencies in favour of the likes of the higher yielding currencies such as the Australian dollar. The result of this sort of trend is the Australian dollar appreciates and generally the currency crosses such as the GBP/AUD get worse for those looking to repatriate funds from the UK into Australian dollars. However - some fairly shabby data out last week gave the currency and equity markets the jitters globally and the question was asked; “ how long is it really going to take to get out of this recession? “ The answers were not as clear-cut as they were a few weeks ago and the demand for the Australian currency lagged. As with last week, there is a heap of economic data due out this week (Bank of England rate announcement – expected on hold) and with it comes a good chance markets may feel the pinch of some fairly nervous investors. This being the case, I would expect the GBP/AUD cross to remain at around these levels or even improve slightly. GBP/AUD High’s & Low’s (Bid) of last week; High: 1.8390 Low: 1.8170 GBP/AUD Expected Range for the Week: High: 1.8550 Low: 1.8100 Click here to view GBP/AUD charts Kind regards, Jon Speedy Currency Online – Moving Money Made Easy

Listining to the radio this morning they are saying the pound is great for exports and helping the UK recover by using it's own produce where possible instead of importing stuff, but looking at that currency converter on the right of the screen it is sinking lower and lower.....how low do you think it could go:err: Any experts on here?

Currency Online – Moving Money Made Easy Hello all, The trend continues. The UK pound loses more ground against the USD, whereas the Australian dollar holds relatively steady. As a result, the amount of Aussie dollars you get for your pound continues to shrink. The Bank of England isn’t doing their local currency any favours, happy to talk the currency down, stating a weaker sterling is helping the rebalancing of the UK economy. The Australian dollar in contrast remains in favour, as investors in the current climate are prepared to ditch “safe haven” currencies such as the US dollar and Japanese yen for the likes of the Australian dollar. This is to take advantage of the higher interest rates they can get for their investments. As for this week, there looks to be no respite for the beleaguered pound and the Aussie dollar looks like chalking up further gains against the sterling this week. There is a heap of economic data due out this week which will be of interest to all the markets. Definitely worth talking to your currency provider now about the best strategy to manage your money transfers. Forward contracts and market orders are two currency tools that should certainly be looked at immediately for those holding pounds and needing to transfer. GBP/AUD High’s & Low’s (Bid) of last week; High: 1.8772 Low: 1.8394 GBP/AUD Expected Range for the Week: High: 1.8550 Low: 1.8110 Kind regards, Jon Speedy Currency Online – Moving Money Made Easy

Currency Online – Moving Money Made Easy Hi there, The UK pound continues to hold the dubious honour of being “the currency most out of favour.”Last week I mentioned the UK unemployment rate and UK retail sales figures must come out as good numbers for the currency to turn around its current woeful performance. This did not happen. In fact, unemployment rose more than expected and has climbed to 7.9% (more than 2% up on July last year) and retail sales in August were a lot worse than forecast. Further negative comments from the Bank of England late on Friday also weighed heavy on the pound. Apologies now to those holding Sterling as the rate of conversion of UK pounds back into Aussie dollars continues to get worse. This trend looks set to continue. There are more and more holders of pounds having to bite the bullet and get around 1.87 Australian dollars for their pound, compared to 2.6 in October last year. Definitely worth talking a currency provider now about the best strategy to manage your money transfers. Forward contracts and market orders are two currency tools that should certainly be looked at immediately for those holding pounds and looking to transfer. GBP/AUD High’s & Low’s (Bid) of last week; High: 1.9326 Low: 1.8740 GBP/AUD Expected Range for the Week; High: 1.8550 Low: 1.8950 Currency Online – Moving Money Made Easy