Guest Lynzi Posted December 15, 2006 Share Posted December 15, 2006 Hey, I am leaving for Oz in March 07 on a working holiday visa and I was wondering which bank is the best for opening an account with and also how do I go about opening it and transferring money into it before i go? I also have direct debits that come out of my uk account every month, is it possible to transfer money into this account from the oz account? Your advise would be great thanks!! Lynzi Link to comment Share on other sites More sharing options...
Guest Fraser Posted December 16, 2006 Share Posted December 16, 2006 Hey, I am leaving for Oz in March 07 on a working holiday visa and I was wondering which bank is the best for opening an account with and also how do I go about opening it and transferring money into it before i go? Lynzi Speak to your own bank in the UK. Many already have a tie-up with Oz banks, and can open accounts and move funds for you. The big 4 banks (Commonwealth, Westpac, National Australia Bank and ANZ are well represented across the country... but be aware, Australian banks are evil!!! They charge fees...) Link to comment Share on other sites More sharing options...
calNgary Posted December 16, 2006 Share Posted December 16, 2006 hiya we opened an account on-line with ANZ ,we could transfer money ready for our arrival but had to go into a branch with ID before we could withdraw, worked fine for us ,hope this helps Cal x Link to comment Share on other sites More sharing options...
ali Posted December 16, 2006 Share Posted December 16, 2006 We did the same as Cal with WestPac. Very straightforward - only bad point was we received a phone call at 7am on a Friday morning, from a very chirpy australian (who'd obviously forgotton the time difference and was getting ready for the weekend), to check we were happy with what had been done so far :? Link to comment Share on other sites More sharing options...
Guest dwaldron Posted December 16, 2006 Share Posted December 16, 2006 We opened an account with Westpac too http://www.westpac.com.au/migrantbanking Very simple process and it was all up and running in a week. Link to comment Share on other sites More sharing options...
Guest The Picketts Posted December 16, 2006 Share Posted December 16, 2006 We opened an account with Commonwealth Bank of Australia at their London city branch to enable us to buy our home in WA a couple of years back. We have a current account running over there which we can manage via the internet until we emigrate next year. It was reasonably easy to open, having to provide proof of identity etc. They charge normal bank transfer fees of approx £16 for any amount of sterling and you can choose when you want to send it depending on the current commercial rates. You just have to validate the account in person on arrival in Oz. I am looking into what other options there are when we finally want to send the balance from our sale in the UK to see if there are better rates available. I have just discovered a magazine in WH Smiths called 'Australia and New Zealand' which gives lots of information to people who are thinking of emigrating or already have. In it I have noticed several agents advertising like Ozforex and Travelex - and I would be interested to know what have other people who have already arrived in Oz done..... By the way - I seem to be quite an 'Oldie' using this site - my husband and I are going on one of the last 'Retirement Visa's' which we were granted last year - we are hoping to move out at the end of August '07 when I finally leave work. I love the site - it's great to see so many youngsters realising there's the chance of a better lifestyle elsewhere and going all out to achieve it. Regards, Cheryl Link to comment Share on other sites More sharing options...
Guest Nelson Posted December 17, 2006 Share Posted December 17, 2006 You may find it more useful to have a Visa debit account than EFTPOS. This way you can use your Oz account elsewhere in the world aswell. Visa debit is a very new concept here! Link to comment Share on other sites More sharing options...
heids Posted December 19, 2006 Share Posted December 19, 2006 Hi Krista A visa debit card sounds like a better idea, any chance you could give me any more info please (do all the banks in aus offer a visa debit card). We are arriving end of Jan and just realised we should prob do something about opening a bank account!! Any help or info would be very much appreciate Thank you Heids Link to comment Share on other sites More sharing options...
Guest spray21 Posted December 20, 2006 Share Posted December 20, 2006 Any info on how long it takes to set up an account? I'm assuming it won't take very long and can be left until a month or so before we leave - by which point I will not have utility bills etc as we will be staying with friends. Also by then I would not want to receive confirmations etc by post as we will be moving around. Would it be more sensible to sort it out now whilst things are a bit more stable and everything is not packed up? Or have I just answered my own question...?! Link to comment Share on other sites More sharing options...
restfamily Posted December 20, 2006 Share Posted December 20, 2006 You can set up accounts with Commonwealth and Westpac http://www.westpac.com.au /migrantbanking from the UK. Watch out for all the account transaction fees. Can someone explain what the difference between EFTPOS and Visa debit is, I thought they were the same thing, obviously not! I was thinking of opening a Westpac One account because there are no transaction fees, which I think will stress me out until I get use to the system! Link to comment Share on other sites More sharing options...
Guest nev_n_angie Posted January 12, 2007 Share Posted January 12, 2007 Hi My Husband has just come back from visiting his Brother in Brisbane - he opened an account with the Commonwealth Bank while he was there. His Brother usues HIFX and suggested that we do the same. If you're dealing with more that £5000 at a time, they are brilliant! You can order the transfer at a good rate prior to the day. EG - we ordered some money to be transferred at 2.48 exch rate. We had an email through to confirm that they would do it - printed off the forms and sorted. No Commission as they make their money from the millions that go through their hands every day - if you order at 2.48 - they process when it's higher! Job Done! We have transferred most of the capital made on our house sale - we will be doing the same with hubby's gratuity! Hope this helps - and makes sence? Angie Link to comment Share on other sites More sharing options...
Guest nev_n_angie Posted January 12, 2007 Share Posted January 12, 2007 Hi My Husband has just come back from visiting his Brother in Brisbane - he opened an account with the Commonwealth Bank while he was there. His Brother usues HIFX and suggested that we do the same. If you're dealing with more that £5000 at a time, they are brilliant! You can order the transfer at a good rate prior to the day. EG - we ordered some money to be transferred at 2.48 exch rate. We had an email through to confirm that they would do it - printed off the forms and sorted. No Commission as they make their money from the millions that go through their hands every day - if you order at 2.48 - they process when it's higher! Job Done! We have transferred most of the capital made on our house sale - we will be doing the same with hubby's gratuity! Hope this helps - and makes sence? Angie Link to comment Share on other sites More sharing options...
Guest Temptininnit Posted February 13, 2007 Share Posted February 13, 2007 I'm mulling over the Westpac or Anz thing too, I'm particularly interested in Fees and the debit card. I'd prefer a VISA debit, can anyone offer more info on this? TIA Link to comment Share on other sites More sharing options...
Guest dive monkey Posted March 6, 2007 Share Posted March 6, 2007 Sorry can't help on the visa debit front but could anyone tell me when they start charging you for having the bank account set-up? Would like to do it now so it's one less thing to think aboout (leaving July hopefully) but do they start charging you straight away? Thanks, DM x Link to comment Share on other sites More sharing options...
Guest simon and jenean Posted March 6, 2007 Share Posted March 6, 2007 Hi We've opened up an account with the Commonwealth Bank in London (printed application form off computer and just sent in, came through very quickly) so that we can transfer are money when house sale goes through. We have to just arrange an appointment when we get to Australia to activate a bank account there, so I assume don't get any bank charges until this point. Jenean One thing I noticed though, was that with Commonwealth they were saying no charges on first two transfers if joined before end of Feb (you don't get charged on transferring higher amounts), however, I think you get charged for the transfers at your OZ bank account end! Real shock to the system when you see all the different types of bank charges. Link to comment Share on other sites More sharing options...
Guest dive monkey Posted March 7, 2007 Share Posted March 7, 2007 Thanks for that Jenean. The buggers will get us one way or another! Link to comment Share on other sites More sharing options...
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