Aibbitson Posted November 7, 2017 Share Posted November 7, 2017 Hi all, returining to the UK next year to reunite with family after 7 years in Australia. We were wondering what are the rules/guidlines for transferring savings from Aus to UK? Im looking for advice and whether we can do in one go to a UK bank etc? Can nayone recommend a service or person in teh game to talk to? Cheers Andy Quote Link to comment Share on other sites More sharing options...
KurtH Posted November 10, 2017 Share Posted November 10, 2017 are you going back for good or for a holiday ( sorry, that's not clear from what you're saying ) Generally, I find the best rates come from foreign exchange websites. The banks charge a flat fee for the transfer and then also charge you throuhgh the exchange rate they use. I know a guy who works here (there are other websites which do the same thing) https://www.ofx.com/ Check out their rates. After that, it depends on how long you're going back for and, without wanting to pry in to your personal circumstances, how much you're moving. One more thing, I use a 28 degrees credit card because they don't charge a fee for international transactions. It might be too late to get one for your trip but worth thinking about. Quote Link to comment Share on other sites More sharing options...
Guest Posted November 10, 2017 Share Posted November 10, 2017 I'd look into using a for ex not bank to bank. You get crummy rates with banks generally and pay a fee. Forex will see better rates and usually no fees. It can make a big difference to the amount you are transferring. We use HiFX for ourselves and have used them for a number of years now. On the forum we have @John from Moneycorp who you may want to consider. https://www.pomsinoz.com/forum/28-money-transfer-ask-moneycorp/ Quote Link to comment Share on other sites More sharing options...
LKC Posted November 11, 2017 Share Posted November 11, 2017 Use a forex company. You'll need to transfer the money to the forex company from your bank account in Australia, which is easy if you're still in Australia but a bit more complicated if you've left the country. Our house sale settled after we left, so Westpac gave us a 'security key tag' thing, which allows us to identify ourselves remotely, increase our payment limit, and authorise any transfers. You'll need a UK bank to transfer the money to also. Quote Link to comment Share on other sites More sharing options...
Aibbitson Posted November 19, 2017 Author Share Posted November 19, 2017 Thanks all some good advice in here and have followed up on a couple of suggestions. Andy Quote Link to comment Share on other sites More sharing options...
Guest CarlosR Posted December 6, 2017 Share Posted December 6, 2017 First you have to check the currency rate checker with the current exchange rate, later you can paypal value or through bank transfers Quote Link to comment Share on other sites More sharing options...
Dorann Posted January 7, 2018 Share Posted January 7, 2018 I'm originally from the UK, moved to Australia 15 years ago, and now moving back home to the UK. I'm curious, when bringing back my savings saved during my years in Australia back to the UK do you have to pay any tax on this. ( this is all money that has already been earned and taxed in Australia) Quote Link to comment Share on other sites More sharing options...
StokieDoug Posted January 17, 2018 Share Posted January 17, 2018 On 1/8/2018 at 09:57, Dorann said: I'm originally from the UK, moved to Australia 15 years ago, and now moving back home to the UK. I'm curious, when bringing back my savings saved during my years in Australia back to the UK do you have to pay any tax on this. ( this is all money that has already been earned and taxed in Australia) You won't pay any tax on any savings you transfer over. Quote Link to comment Share on other sites More sharing options...
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