Clyde114 Posted October 31, 2017 Share Posted October 31, 2017 Hi all I moved from UK to AU this year, before the move I shifted money over with a UK based Forex broker, now I'm here I'm looking for advice on if it's best to continue using a UK broker or a local AU broker to shift my money over? Does it matter, apart from convenience? Thanks for your thoughts! Cheers C Quote Link to comment Share on other sites More sharing options...
Guest Posted October 31, 2017 Share Posted October 31, 2017 We still use the same one. Not bothered to change. We do it all online. Tbh I think they are international and it doesn’t really matter. Quote Link to comment Share on other sites More sharing options...
ramot Posted October 31, 2017 Share Posted October 31, 2017 We have used transferwise for several years to transfer UK pds to Aus dollars every month, we can't fault them. Often the money is in our Oz account the next day. Competitive rate. Quote Link to comment Share on other sites More sharing options...
Guest John from Moneycorp Posted November 1, 2017 Share Posted November 1, 2017 10 hours ago, Clyde114 said: Hi all I moved from UK to AU this year, before the move I shifted money over with a UK based Forex broker, now I'm here I'm looking for advice on if it's best to continue using a UK broker or a local AU broker to shift my money over? Does it matter, apart from convenience? Thanks for your thoughts! Cheers C Happy to have a chat and offer you a good deal on your overseas money transfers - private message or email me: john.kinghorn@moneycorp.com Thanks John Quote Link to comment Share on other sites More sharing options...
Ken Posted November 1, 2017 Share Posted November 1, 2017 13 hours ago, Clyde114 said: Hi all I moved from UK to AU this year, before the move I shifted money over with a UK based Forex broker, now I'm here I'm looking for advice on if it's best to continue using a UK broker or a local AU broker to shift my money over? Does it matter, apart from convenience? Thanks for your thoughts! Cheers C Some Australian banks will hit you with a Foreign Transaction Fee if money is transferred in to your account from an account abroad even when the transfer is from an Australian Dollar account. Using an AU broker will avoid that (as will a UK broker who has an account with an Australian bank in Australia rather than an offshore AUD account). Quote Link to comment Share on other sites More sharing options...
Keith Posted November 6, 2017 Share Posted November 6, 2017 Hi I have just sold my home and am due to retire in Oz in Feb 2018. Opened a Westpac account here and in Oz. Does any think I use a Bank to transfer my money considering they would only transfer at a rate that I would consider fair or just continue to us companies such as Transferwise to transfer into my Westpac account in OZ. concerned pensioner.Thank you.Keith Quote Link to comment Share on other sites More sharing options...
Cerberus1 Posted November 6, 2017 Share Posted November 6, 2017 Hi Keith, I think you'd always get a better rate using a forex company rather than bank to bank. Just had a very quick look According to the Westpac site, transferring £200,000 would give you $326,797 AUD Using a forex company, you'd get around $339,000. More than $12,000 AUD more Quote Link to comment Share on other sites More sharing options...
Guest CarlosR Posted November 17, 2017 Share Posted November 17, 2017 The advantage of the forex agent makes the thing easier and in real time, the bank only establishes a reference rate Quote Link to comment Share on other sites More sharing options...
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