nicolac34 Posted December 18, 2012 Share Posted December 18, 2012 Hi All, My parents are in the process of the parent visa application and have a lump sum of around £50k that they'd like to send over to Australia to benefit from the higher interest payments and also so it's ready and waiting here for when the visa application charge needs paying. Does anyone have any experience of opening a savings account from the UK and transfering a large sum over? Just wondering what it is they need to do and what account would be best for them. Any help would be appreciated! Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted December 18, 2012 Share Posted December 18, 2012 Just click on the NAB link, they can open an account from the UK and transfer their money over (use Moneycorp for the best interest rate and no fees) just remember they can't draw any out until they have shown id. Link to comment Share on other sites More sharing options...
nicolac34 Posted December 18, 2012 Author Share Posted December 18, 2012 Does that include online transactions? Because they wouldn't be coming over to Aus before the visa would need paying and they'd be a bit stuck if the money was in an account and they couldn't transfer it out without showing ID! Link to comment Share on other sites More sharing options...
Parley Posted December 18, 2012 Share Posted December 18, 2012 There is quite a bit of concern in Australia and UK about tax evasion. So it is harder to open accounts overseas. People tend to stash the money overseas and not declare the income. Link to comment Share on other sites More sharing options...
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