Wanderer Returns Posted March 6, 2021 Share Posted March 6, 2021 The pound seems to be getting stronger against the dollar, maybe now that Brexit has finally been resolved and there is a clear pathway out of lockdown. I'm wondering if now is the time to start transferring money over from the UK, or whether it's worth hanging on a bit Quote Link to comment Share on other sites More sharing options...
North to South Posted March 7, 2021 Share Posted March 7, 2021 I don’t think there’s ever a right time as you’ll always see a better rate or worse rate after transfer.  My view is anything above 1.8 is a reasonable rate, but if you don’t need the money, then I’d hang on.  I’m only transferring what I need for the next six months and if the rate exceeds 1.8 then I’ll transfer more.  The average over the past 3 years has been 1.82 which is why I’ve stuck to 1.8 and all my planning on my move was based on 1.8. Hope this helps.  1 Quote Link to comment Share on other sites More sharing options...
newjez Posted March 7, 2021 Share Posted March 7, 2021 8 hours ago, Wanderer Returns said: The pound seems to be getting stronger against the dollar, maybe now that Brexit has finally been resolved and there is a clear pathway out of lockdown. I'm wondering if now is the time to start transferring money over from the UK, or whether it's worth hanging on a bit A lot will depend on whether Australia can get its vaccine program up to speed with the UK. 1 Quote Link to comment Share on other sites More sharing options...
paulhand Posted March 7, 2021 Share Posted March 7, 2021 9 hours ago, Wanderer Returns said: that Brexit has finally been resolved  I don’t think so ... it’s hardly started and most early effects have been masked by the greater effects of the pandemic. 1 Quote Link to comment Share on other sites More sharing options...
Wanderer Returns Posted March 7, 2021 Author Share Posted March 7, 2021 8 hours ago, North to South said: I don’t think there’s ever a right time as you’ll always see a better rate or worse rate after transfer.  My view is anything above 1.8 is a reasonable rate, but if you don’t need the money, then I’d hang on.  I’m only transferring what I need for the next six months and if the rate exceeds 1.8 then I’ll transfer more.  The average over the past 3 years has been 1.82 which is why I’ve stuck to 1.8 and all my planning on my move was based on 1.8. Hope this helps.  I've been working on a similar philosophy! Quote Link to comment Share on other sites More sharing options...
Wanderer Returns Posted March 7, 2021 Author Share Posted March 7, 2021 3 hours ago, paulhand said: I don’t think so ... it’s hardly started and most early effects have been masked by the greater effects of the pandemic. The uncertainty of leaving has been resolved. The rest is just political rhetoric. Quote Link to comment Share on other sites More sharing options...
Nyxkat Posted April 10, 2021 Share Posted April 10, 2021 On 07/03/2021 at 11:20, Wanderer Returns said: The uncertainty of leaving has been resolved. The rest is just political rhetoric. Not exactly. There's already a huge impact on trade and transportation of goods. I've seen people who have had to pay more for the import of their item than the actual item costs, -after- they had ordered it, charged as extra by the shipping company for the extra costs of shipping. https://www.moneysavingexpert.com/shopping/buying-online-from-europe-post-brexit/ Keeping on topic though I am hoping for a bit more of a rise. I plan on getting some currency soonish with some if my redundancy pay as we are planning to move to Australia in August. It will take a bit before I can get a bank set up properly and want to have a little bit of cash for the smaller stuff and to pay my way till I have an account (bf will have cards he can use and already has an aussie account). 2 Quote Link to comment Share on other sites More sharing options...
Ken Posted April 11, 2021 Share Posted April 11, 2021 20 hours ago, Nyxkat said: Keeping on topic though I am hoping for a bit more of a rise. I plan on getting some currency soonish with some if my redundancy pay as we are planning to move to Australia in August. It will take a bit before I can get a bank set up properly and want to have a little bit of cash for the smaller stuff and to pay my way till I have an account (bf will have cards he can use and already has an aussie account). You can open a multi-currency account with Wise (used to be Transferwise) or one of the other transfer companies (I mention Wise specifically because they now operate as a proper bank account complete with debit card) almost instantly and then put as much as you want in to Australian Dollars. Unlike with the Australian banks you don't have to walk in to a bank in Australia and prove your identity before being able to make a withdrawal. Once you've moved you'll probably still want to get an account with a bank in Australia but for having a debit card from day one it would have been very useful for us (we'd opened an account with one of the big-4 banks in advance, and even had a card but we still couldn't use it until we'd gone in to a branch to activate it). 1 Quote Link to comment Share on other sites More sharing options...
Nyxkat Posted April 11, 2021 Share Posted April 11, 2021 Interesting info! Thank you. I shall investigate that option as that seems like a good interim measure to take. Quote Link to comment Share on other sites More sharing options...
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