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What bank is best to use to set up an australian account from here in UK?


Kellie23

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From what I have found there are plenty of banks that offer the service but I would not transfer money from a uk account direct to Oz bank, NAB even told me you get a better rate going through an exchange firm like moneycorp or global finance, There are plenty out there but as I am doing keep your options open and keep in touch with a few to see who offers the best rate on the day of transfer. NAB said they could not tell me the rate I would get from them on a transfer until I had done it,

any other opinions welcome on the subject!

 

Kev

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do you know where you are living? my gf joined NAB from the UK but it turns out they dont have a sat morning openning branch in our new home town. It even closes are 4pm Monday to friday, so she is closing the account and going with ANZ or Commonwealth now which do open Saturdays in Geelong

 

I never looked into the opening times, thankfully you did, I am about a month away from transferring funds so in that time I will also look at opening an account at one of the banks you mentioned.

Thanks mate.

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Firstly any Oz bank that offers no fees so NAB, Citibank, Commonwealth Saver only and HSBC..then change or add more when you are ready..Many of the big banks in big towns open on Saturdays..Just have to get online and do banking that way.

 

Also look for ones that offer good deals such as no annual fees on credit cards e.g HSBC or Jetstar for a while I think.

 

HiFX or Ozforex for money transfers as they are usually a lot cheaper.

 

Don't forget you need an active mobile phone for internet banking so you put in the pin nos etc.

 

I feel better with a couple of different accounts open..I use one specifically for Ebay and one for big purchases only and I don't have to worry about paying fees or having a certain of amount of money paid into the account each month.

 

I must admit though I really like NAB.

 

BEGal

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Yes you need to activate in person as Jasepom has said. However you don't have to wait in line, just see someone at enquiry desk and don't go at a lunch time.

 

Also you need to get used to the fact that banking is very different here to the UK and work with it. It will change, but slowly hence I do internet banking frequently.

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