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Guest afs

Bank account

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    Guest afs

    Hi, I am going to Australia initially for 12 months on a Working Holiday Maker next month.

     

    I have a UK Current account with HSBC and a couple of savings accounts. I would like to know if it is feasible for me not to have to open an Australian current account, ie can wages be paid into my UK current account.

    The reason I am asking is I have a DDs going out of my current account and I can manage paying off my credit card and transferring into savings using my UK current account, but if I open an Aus account there is a charge of $20 every time I transfer money to and from this account into a UK account.

     

    Any advice?

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    Guest Boomer

    Cancel or suspend your DD's and pay your credit card off before you go. I doubt you will get an employer that will pay your pay into a UK account and if they do you will get stung on the exchange rate

     

    Boomer

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    Yeah, as Boomer said, Aus employers won't pay into UK Bank Accounts, just as UK employers won't pay into Aus Accounts. Employer's Payroll systems aren't set-up to make international deposits (amongst other reasons).

     

    HSBC is the same company around the world, but Banking Regulations/Laws differ from country-to-country, therefore a new account would need to be opened.

     

    Unfortunately, If you can't settle your UK Credit Cards before you leave, more than likely you'll just have to be hit by the transfer fees. Obviously, leaving a chunk of cash behind in your Current Account to cover these DD's for the year, while you're away, would be the cheapest solution.

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    Guest afs

    Thanks Guys that was very helpful.

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