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Do I put exchange or transfer?


Alix Fisher

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Hi, I am coming to Oz on a WHV in September... I am going to be spending a week or so in Sydney then up to The gold coast for a week or so chilling etc and then wherever in the hope to find farm work.. (hopefully Queensland). My dilemma is I am thinking of taking around 2000 - 3000 aud cash with me, and this will see me through for accommodation, travel expenses, food etc for about 3-4 weeks until I get a job... but I don't feel comfortable travelling around with so much staying in hostels etc- do i exchange it here in the UK (in order to avoid paying international bank transfer charges) and then when I arrive in oz but it into a bank account.. or do I just do bank transfer and take it out as and when I need it? I don't want to take a currency card or travellers cheques either.

 

Many thanks in advance, Alix

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Guest John from Moneycorp
Hi, I am coming to Oz on a WHV in September... I am going to be spending a week or so in Sydney then up to The gold coast for a week or so chilling etc and then wherever in the hope to find farm work.. (hopefully Queensland). My dilemma is I am thinking of taking around 2000 - 3000 aud cash with me, and this will see me through for accommodation, travel expenses, food etc for about 3-4 weeks until I get a job... but I don't feel comfortable travelling around with so much staying in hostels etc- do i exchange it here in the UK (in order to avoid paying international bank transfer charges) and then when I arrive in oz but it into a bank account.. or do I just do bank transfer and take it out as and when I need it? I don't want to take a currency card or travellers cheques either.

 

Many thanks in advance, Alix

 

I would look to do bank to bank transfers - these will usually be much cheaper as you will get a better exchange rate (as mentioned above).

 

Would also consider using a specialist money transfer company when making your currency transfers - this can be more cost effective than using your bank because you won't have to pay transfer fees plus commission.

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