Kel1 Posted September 28, 2013 Share Posted September 28, 2013 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! Quote Link to comment Share on other sites More sharing options...
Chortlepuss Posted September 28, 2013 Share Posted September 28, 2013 I wouldn't wait. 1.7 is an amazing rate historically even if its not the best........ Quote Link to comment Share on other sites More sharing options...
Rupert Posted September 28, 2013 Share Posted September 28, 2013 I wouldn't wait. The rates of 1.45 that we saw earlier in the year were highly abnormal, I think normality is returning, slowly. I have moved a lot of money to the UK over the last couple of years to pay off my mortgage, certainly if I had some to send now I would be sending it. The RBA will probably keep rates the same, I doubt they would be increased (which would cause a little bit of currency strengthening). Quote Link to comment Share on other sites More sharing options...
scuffythetugboat Posted September 28, 2013 Share Posted September 28, 2013 I sent the remainder of our $AUS back to the UK yesterday. I think you won't see 65+pence for a dollar for a long time, if ever. I heard on the radio a couple of days ago that the $AUS will be heading down to 80cents US within 2 years. Looking at the computer screen and hoping that the dollar will go up rapidly in front of my eyes didn't work so I decided to send it anyway. Chortlepuss is right. The rate is still historically good at the moment. Quote Link to comment Share on other sites More sharing options...
grada Posted September 28, 2013 Share Posted September 28, 2013 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! We sent ours back about 6 weeks ago and so pleased we did, wish we had been a few weeks earlier but had long discussions with Moneycorp (we transfer with them too) and they seemed to think the golden days of the strong dollar are waning rapidly. If you need more in depth information about what moves the currency markets then try looking at the data on forex factory calender here http://www.forexfactory.com/calendar.php The key players to look for that affect AUD are- AUD-USD-CNY (China)-GBP Click on the little folders next to each event and it explains how it affects the market, red numbers=bad for currency, green=good for currency. We found monitoring this, together with xe currency charts (sometimes you can see movement shortly after the event results have been announced), and the business radio on in the background helped to make our desicions. It's a tricky game, and there's sometimes winners and losers, but we thankfully managed to prevent any further GBP savings loss by moving ours. There has been a spike this week to nearly 1.73, but last week was 1.69ish so it may fluctuate back down a bit before the slide to 1.8 that many people think may happen. Quote Link to comment Share on other sites More sharing options...
Kel1 Posted October 1, 2013 Author Share Posted October 1, 2013 hey guys, thanks for your replies. Just agreed on the phone with Moneycorp and now we are transferring officially! Feels quite good to see it in pounds and to know it will be in our UK account. I think it's also a healthy step in moving forward and not looking back to australia etc. We got a good deal as well, compared with NAB, we saved 1200 by going through Moneycorp which is sweet. Now i just hope we made the right decision! Quote Link to comment Share on other sites More sharing options...
oz bound pom Posted October 1, 2013 Share Posted October 1, 2013 now you have transferred don't look at the exchange rate again until you have to, otherwise you'll be forever playing the 'if only we'd waited another week game!' Quote Link to comment Share on other sites More sharing options...
Sydney Posted October 4, 2013 Share Posted October 4, 2013 I think regardless of the strength of the Australian dollar, it's likely the pound will get stronger as the UK economy gets better and when the B o E eventually raises rates. Money in the UK at the moment should be a good little earner for Brits in Australia. Quote Link to comment Share on other sites More sharing options...
Kel1 Posted October 5, 2013 Author Share Posted October 5, 2013 Yeah i know i shouldn't look! Had lots of issues with NAB with regard to transferring large sums, the max is 20kper day. Seems hilarious that you keep money in the bank and they dictate how much of your money you can take at any one time. Finally sorted it out but was quite annoying. Highly recommend Moneycorp though, decent price compared with the bank and no fees YEAH! Quote Link to comment Share on other sites More sharing options...
Guest Jean95 Posted October 17, 2013 Share Posted October 17, 2013 We moved sizeable amounts of cash a few weeks ago and got a pretty good deal from World First. We just went to Westpac and they transferred the amounts we wanted to World First in Sydney and they then transferred on to our nominated account in UK. We also got a fairly good rate and where we are in Scotland the cash will go further than down south. We got about 58p to the dollar which is not a bad rate at all. I agree I think the aussie dollar will start to slide as it is at historical highs at the moment. Did not consider using a bank as their rate was rubbish. About 55p to the dollar. And they would have charged us for the privilege unlike World First who didn't. Quote Link to comment Share on other sites More sharing options...
Parley Posted October 17, 2013 Share Posted October 17, 2013 Aussie dollar is going back up. The RBA has most likely finished cutting rates and next move will probably be up, meaning a higher dollar. Quote Link to comment Share on other sites More sharing options...
edgware14 Posted October 23, 2013 Share Posted October 23, 2013 Aussie dollar is going back up.The RBA has most likely finished cutting rates and next move will probably be up, meaning a higher dollar. This is what I'm thinking too, I've been in Australia for 2 years and I'm moving back in mid December, I've been thinking of bringing home as much cash I can between me and my girlfriend and then exchanging it when I'm back in England and the rate has gone more in my favour, I am in no rush for the cash as I still have some saving in the U.K. Is this a good idea or not? Shall I just send it home using Money corp? Quote Link to comment Share on other sites More sharing options...
fourcorners Posted October 23, 2013 Share Posted October 23, 2013 This is what I'm thinking too, I've been in Australia for 2 years and I'm moving back in mid December, I've been thinking of bringing home as much cash I can between me and my girlfriend and then exchanging it when I'm back in England and the rate has gone more in my favour, I am in no rush for the cash as I still have some saving in the U.K. Is this a good idea or not? Shall I just send it home using Money corp? We send money home every two months. Overall we benefited from some great rates last year, and by doing it in smaller chunks we kind of spread the risk a little. We use Personal FX rather than banks as usually it gets us an extra 600-800 pounds. Quote Link to comment Share on other sites More sharing options...
edgware14 Posted October 24, 2013 Share Posted October 24, 2013 We send money home every two months. Overall we benefited from some great rates last year, and by doing it in smaller chunks we kind of spread the risk a little. We use Personal FX rather than banks as usually it gets us an extra 600-800 pounds. Hey thanks for the advice Quote Link to comment Share on other sites More sharing options...
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