jacquena Posted April 7, 2013 Share Posted April 7, 2013 Hi everyone so we might be mving near wollongong in june! But the one thing that is puzzling us is what do we do with our savings and how much should we b taking in cash with us on the plane? There is me and the OH and 2 young kids, but what i mean by our savings is we have this money saved and its in our uk bank do we just leave it and get on a plane then go get a bank acount sorted and transfere it over? Thankyou. Sent from my GT-I9100P using Tapatalk 2 Link to comment Share on other sites More sharing options...
saraleanne Posted May 20, 2013 Share Posted May 20, 2013 Hi, you can set up an aussie bank account whilst your in the uk, there are branches in london - just look on google & compare whats best for you, and transfer the money before you come. Its quite expensive to transfer money between our aussie & uk banks. we set up our account when we arrived, so you can do it either way when are you making the move? Sara Link to comment Share on other sites More sharing options...
Guest GeorgeD Posted May 20, 2013 Share Posted May 20, 2013 Don't take large sums of cash. You can lose it. It can be stolen. Don't give yourself that stress. You'll also end up getting a retail exchange rate at one end and will get pumped real bad on the rate! Also, for large sums, for the love of God don't use your bank to transfer the money. Use a specialist Forex provider like MoneyCorp or similar. MoneyCorp offer no account fees to PIO members. You will get a significantly better rate via a Forex provider, meaning you get more money at the end. Most people like that. It's safe and convenient, so please don't use a bank just because it's easy. You'll need an account in Oz to transfer money to. You can wait until you get there or you can set up accounts with some banks before you go. It doesn't make much difference...but you will need a bank account in Oz to transfer your money to. You need to open an accoutn iwht someone like MoneyCorp before you do the transfer. They need a copy of some ID, for money laundering legislation purposes...same as you would need if you were opening a bank account...so don't leave it till you are getting on the plane, get it set up well in advance so you can carry out the transaction when you need it to happen. You also don't need to transfer your money if you don't need it. If you think the exchange rate will go up, keep it in the UK, if you think it will go down, move it! Link to comment Share on other sites More sharing options...
Skippy1 Posted May 21, 2013 Share Posted May 21, 2013 Try http://currencyfair.com/ I have used them regularly and just did a check and they offer a very good rate at the moment on AUD to Euro better than some mentioned above Transaction fee of €3 i think at present on any sums Once you setup an account very easy and very quick to transfer. Link to comment Share on other sites More sharing options...
Rupert Posted May 22, 2013 Share Posted May 22, 2013 Try http://currencyfair.com/I have used them regularly and just did a check and they offer a very good rate at the moment on AUD to Euro better than some mentioned above Transaction fee of €3 i think at present on any sums Once you setup an account very easy and very quick to transfer. Good lord has the UK adopted the € since I left? How did I miss that. :wink: Link to comment Share on other sites More sharing options...
runslikeafish Posted May 28, 2013 Share Posted May 28, 2013 I'd absolutely recommend setting up a bank account in Aus before you leave. You can do it pretty easily over the Internet. I know NAB, ANZ and Commonwealth all let you do that. As well as being able to transfer money to the account (and I agree that you MUST use a currency broker) you can go into the bank on day 1 and pick up EFTPOS (debit/credit) cards and withdraw/deposit cash as necessary. You should also get a helpful clerk who will explain to you what people mean when they say "cheque, savings or credit?" when you pay for something... Good luck. Link to comment Share on other sites More sharing options...
Guest guest76088 Posted May 28, 2013 Share Posted May 28, 2013 $2132.07 plus $4.28 for two coffee at the airport. BigD Hi everyone so we might be mving near wollongong in june! But the one thing that is puzzling us is what do we do with our savings and how much should we b taking in cash with us on the plane? There is me and the OH and 2 young kids, but what i mean by our savings is we have this money saved and its in our uk bank do we just leave it and get on a plane then go get a bank acount sorted and transfere it over?Thankyou. Sent from my GT-I9100P using Tapatalk 2 Link to comment Share on other sites More sharing options...
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