Kenneth Wragg 10 Posted December 4, 2018 Hello. is it better to bring English £s to Australia to change into Australian Dollars? Is there plenty of exchanges where you can buy Australian Dollars in Adelaide. kKGW Share this post Link to post Share on other sites
Marisawright 11,248 Posted December 4, 2018 Transfer most of your funds with Moneycorp. Get some Australian dollars from your bank before you leave for immediate use when you arrive. Share this post Link to post Share on other sites
Kenneth Wragg 10 Posted December 4, 2018 Marisa. i did open a account based on what you told me before, but the Aus$ exchange is low here in U.K. so wondered if I brought some cash to exchange in Adelaide if the rate improved. Thanks again for you help/ advice. KGW. Share this post Link to post Share on other sites
JetBlast 500 Posted December 4, 2018 Transfer most of your funds with Moneycorp. Get some Australian dollars from your bank before you leave for immediate use when you arrive. I wouldn't do that. You can get better rates else where. A standard HSBC international transfer is an example.OP - I don't think you can get better by doing that. Share this post Link to post Share on other sites
Kenneth Wragg 10 Posted December 4, 2018 Thank you for your help/advice, I have took it onboard. Thank you. KGW Share this post Link to post Share on other sites
Marisawright 11,248 Posted December 4, 2018 (edited) 10 hours ago, Kenneth Wragg said: Marisa. i did open a account based on what you told me before, but the Aus$ exchange is low here in U.K. so wondered if I brought some cash to exchange in Adelaide if the rate improved. Thanks again for you help/ advice. KGW. I’m pretty sure you can transfer the money to Moneycorp in pounds then wait for a better exchange rate before you convert it, Give them a call. The exchange rate won’t be any better in Australia but it does vary from day to days Edited December 4, 2018 by Marisawright Share this post Link to post Share on other sites
can1983 341 Posted December 4, 2018 I fail to see how anyone can improve on moneycorp. They give you a rate approx. 1% less than the actual interbank rate which nobody can get. Retail banks charge about 4%. The reason the rates offered are poor is because the pound tanked massively when Teresa opened her gob on about 14th November. When the MPs vote no to the EU-UK deal next week it will tank again. Share this post Link to post Share on other sites
bigfishybob 11 Posted December 11, 2018 For my recent trip to Aus I opened a free standard account with Revolut which allows you to exchange £5k per month at the interbank exchange rate. I also opened an account with WestPac which offered $50 for people who moving to Australia and opened a new bank account with them and deposited $250. Though I'm sure other banks offer similar. I then did several transfers from my Revolut account to my WestPac account in the weeks leading up to the trip. Shortly after arrival I went to the local branch to complete the setup of my account. My debit card was then ready ~5 working days after. In the meantime I withdrew money at the bank itself. Points to note. Not all bank branches open at the weekend (check online). Transfers should be done during the week i.e. not at the weekend - surcharge out of trading hours (I think). No fees. Interbank exchange rate. +$50. No issues as far as I'm aware. Regards BFB Share this post Link to post Share on other sites
Kenneth Wragg 10 Posted December 12, 2018 BFB. thank you for your email and I have took it all on board, we are at Westpac Friday. Sorry for not answering earlier but flew out on Monday, nice to get here. regards. KGW 1 Share this post Link to post Share on other sites
Guest Carol from Vista Financial Posted December 12, 2018 Welcome @Kenneth Wragg! Must be nice to finally be here. Hope the jet lag wears off soon Share this post Link to post Share on other sites
