Marksarson Posted May 9, 2015 Share Posted May 9, 2015 Good Morning I was just wondering if you may be able to give me a little advice on a matter concerning my parents and there imminent move back to the UK. My parents have lived in Australia for over 10 years but unfortunately due to my dad being diagnosed with Alzheimer's my mum has taken the difficult decision to return to England so she has more support from family. Now I've just had a very difficult FaceTime conversation with her about bringing money back from the sale of her house, savings etc etc. She is finding it very difficult and upsetting to understand why her bank in Australia want to charge her $40,000 dollars or £20,000 for the privilege of doing this. As you can probably understand due to my dads health issues she needs as much money to bring back as possible. I was just wondering if you have any experience of this issue or any advice on this situation or could put me in contact with anybody who could offer some advice? Thank you so much for your time Yours thankfully Mark Sent from my iPhone Link to comment Share on other sites More sharing options...
movingback Posted May 9, 2015 Share Posted May 9, 2015 This doesn't make sense. If she has money in her bank account she can just transfer it back to the UK. Tell her to use an online brokerage firm - its terrifically easy to set up an account - and transfer it with them (moneycorp etc). She'll get a much better rate than with the big banks. Link to comment Share on other sites More sharing options...
flatpack Posted May 9, 2015 Share Posted May 9, 2015 Moneycorp is the way, I moved over a very small amount last week and the headline exchange rate was £1 to $1.90 and through Moneycorp I got $1.892 so they only charged me less than a cent per £. Link to comment Share on other sites More sharing options...
Melbpom Posted May 9, 2015 Share Posted May 9, 2015 My understanding is that Moneycorp can do the exchange but that your parents would need a bank account in the UK to receive the funds. My parents found it hard opening an account in the UK even when they were over there on holiday, so they opened an account locally with HSBC. This made it easier to open a UK HSBC account and transfered funds between the two. Link to comment Share on other sites More sharing options...
Quoll Posted May 9, 2015 Share Posted May 9, 2015 Blimey - I think someone is spinning her a line unless she's transferring many millions! I'd be asking Moneycorp or one of the financial transfer companies. Link to comment Share on other sites More sharing options...
Bungo Posted May 9, 2015 Share Posted May 9, 2015 Good MorningI was just wondering if you may be able to give me a little advice on a matter concerning my parents and there imminent move back to the UK. My parents have lived in Australia for over 10 years but unfortunately due to my dad being diagnosed with Alzheimer's my mum has taken the difficult decision to return to England so she has more support from family. Now I've just had a very difficult FaceTime conversation with her about bringing money back from the sale of her house, savings etc etc. She is finding it very difficult and upsetting to understand why her bank in Australia want to charge her $40,000 dollars or £20,000 for the privilege of doing this. As you can probably understand due to my dads health issues she needs as much money to bring back as possible. I was just wondering if you have any experience of this issue or any advice on this situation or could put me in contact with anybody who could offer some advice? Thank you so much for your time Yours thankfully Mark Sent from my iPhone Is she transferring many, many, many millions of dollars? Otherwise this is nonsense and I suspect something is being misunderstood somewhere along the way. Banks will generally not provide as good a deal as brokers, but I am still quite sure that banks do not charge this level of extortionate fee. Link to comment Share on other sites More sharing options...
Guest John from Moneycorp Posted May 10, 2015 Share Posted May 10, 2015 A money transfer specialist company, like Moneycorp, can offer you a much better deal compared with your bank - in terms of exchange rates, fees and charges, you are likely to save money by using a specialist company. More information can be read here - http://moneytransfer.pomsinoz.com Thanks John Link to comment Share on other sites More sharing options...
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