Xerxes Posted June 20, 2014 Author Share Posted June 20, 2014 Thanks @k8bug79 ! Did you set up with moneycorp before you left the UK or when you got over there? Quote Link to comment Share on other sites More sharing options...
k8bug79 Posted June 23, 2014 Share Posted June 23, 2014 I set up before we went and a Nab account, we used it to transfer our savings over whilst rates were ok- not as good as now sadly :-( Quote Link to comment Share on other sites More sharing options...
Xerxes Posted June 23, 2014 Author Share Posted June 23, 2014 What exactly does Moneycorp do and do they charge you? Do you transfer your savings into a Moneycorp account and then they transfer it into your Aus bank account? Quote Link to comment Share on other sites More sharing options...
MovingtoTasmania Posted June 23, 2014 Share Posted June 23, 2014 I think basically yes. @John from Moneycorp is on the forum and does have a thread all for himself :biggrin: Quote Link to comment Share on other sites More sharing options...
Xerxes Posted June 23, 2014 Author Share Posted June 23, 2014 I just wanted to hear from someone who had actually used them instead of getting the "please use my business" spiel! Quote Link to comment Share on other sites More sharing options...
MovingtoTasmania Posted June 23, 2014 Share Posted June 23, 2014 I think quite a few on here have used them, they are highly regarded but as in all things, I do think you need to open accounts with a few and then see what exchange rates they are offering, what fees you will have to pay etc and then go with whoever you will get the most AUD for your GBP from!! Quote Link to comment Share on other sites More sharing options...
JoannaAch Posted June 23, 2014 Share Posted June 23, 2014 I just wanted to hear from someone who had actually used them instead of getting the "please use my business" spiel! I am using MoneyCorp to pay of my credit card debt in Germany. I asked the bank to divide it into installments and each month I send money to my MoneyCorp account (takes 1 day) and then to the German account (another day). The exchange rates are not very good (due to small transfers), but I can't think of any other way... Quote Link to comment Share on other sites More sharing options...
Xerxes Posted June 24, 2014 Author Share Posted June 24, 2014 Thanks guys! God my head is spinning! Quote Link to comment Share on other sites More sharing options...
Marisawright Posted June 24, 2014 Share Posted June 24, 2014 (edited) How stupid of us- we didn't think it through! Of course we can't afford to emigrate because we don't want to pay off a bill that can potentially be transferred and paid off monthly, why didn't we think of that?! I guess most people would assume that the credit card debt, being at the worst possible rate of interest as most credit cards are, wouldn't be something you'd want to carry if you had money to spare. The fact that, apparently, if you paid back the debt you'd have no money to emigrate is something that worries those of us who have been through the experience, so it's natural that we are concerned for you. Emigrating always costs a sh**load more than you think, so to embark on it when strapped for cash is a very risky thing to do. Having said that, we don't know your circumstances. Can you keep a UK bank account open and carry on paying it from Australia if you don't have a UK address? Yes you can. Edited June 24, 2014 by Marisawright Quote Link to comment Share on other sites More sharing options...
k8bug79 Posted June 25, 2014 Share Posted June 25, 2014 Thanks guys! God my head is spinning! Hi @Xerxes I joined Moneycorp back in the UK. You basically 'buy' currency when you want it or it's at a good rate. So in UK I just did this with my debit card. Then it's credited to your money corp online account then you buy x amount of $ with it and chose a recipient- in my case my NAB bank. Very easy. No fees if you join through Pio I think- although I suspect our rate is slightly less favorable than if we were fee paying customers. In return it's slight;y different. I do an electronic transfer of $ to a bank account and they then credit them to my account to but GBP in the same way. I have had no hiccups with them and they are very easy to deal with. Whole process takes just a few days this end. I can't recall how long i took other end. As said before loads of people use them and there are other similar companies as well. Quote Link to comment Share on other sites More sharing options...
lukz Posted June 29, 2014 Share Posted June 29, 2014 You are right! Quote Link to comment Share on other sites More sharing options...
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