TRansferring Money to Europe

[Tommy Tucker]

Hi,

Looking for some help.

I have decided to move back to the UK and just wondering what's the best way to transfer money back.

The fees and exchange rates appear to be wildly different, plus the issue of security comes to mind. 

Thanks in advance

[Marisawright]

Don't use one of the big banks as they all charge ridiculous fees.

I used Moneycorp.  If you join via PomsinOz there are no fees.   

You may get a slightly better exchange rate elsewhere but I found Moneycorp easy to use. I particularly liked being able to talk to a real person (one who actually does the job, not just a call centre operator) if I got stuck.    Their security measures seem pretty good.

[rammygirl]

Register with a few. Check on the day. Sometimes I pay a fee and get more money than if I don’t, so fee free isn’t always the best deal. I use OFX and TransferWise, Moneycorp are also fine.  They are all safe. You can also set a forward order or fix a rate if you are not in a rush. Don’t rush to close your Aus bank accounts though, no reason not to keep them open to pay in super etc down the line.

If you don’t have a uk bank account you will find it difficult to open one unless you have proof of address in uk. 

[chall5]

Transferwise - https://transferwise.com/

Edited July 2, 2019 by chall5

[Bran]

I’ve also used Moneycorp recently and found it to be a good service. Speaking to someone rather than doing it online is reassuring considering the large sums being transferred. I was even able to negotiate the rate slightly upwards by quoting a competitors rate [emoji3]