House sale proceeds

[Cobs_Ahoy]

Thanks everyone, that’s useful to know. I had a quick look at their exchange rate and it didn’t seem great, so perhaps as suggested it would worth having one but, but definitely not worth transferring house sale proceeds through.

[Alan Collett]

Just now, Cobs_Ahoy said:

Thanks everyone, that’s useful to know. I had a quick look at their exchange rate and it didn’t seem great, so perhaps as suggested it would worth having one but, but definitely not worth transferring house sale proceeds through.

Maybe have a chat with one or two forex companies and get an account open so you can trade (sell GBPs and buy AUDs) when the exchange rate is where you'd like it to be?

The private client area at these companies can keep a watch on the exchange rate and discuss expectations/set a target exchange rate for you.

That's what I'd do!    FWIW!

Best regards.

[Cobs_Ahoy]

15 minutes ago, Alan Collett said:

Maybe have a chat with one or two forex companies and get an account open so you can trade (sell GBPs and buy AUDs) when the exchange rate is where you'd like it to be?

The private client area at these companies can keep a watch on the exchange rate and discuss expectations/set a target exchange rate for you.

That's what I'd do!    FWIW!

Best regards.

Thanks Alan, really appreciate the advice and will have a look into that today, cheers!

[rammygirl]

Yes. We did this with OFX you pick a rate you are happy with after discussion and advice then they trigger the exchange when it reaches that rate.  You will need then to transfer the money to them within a short time.  Ours actually happened overnight and we would have missed the rate spike otherwise.