Bristle Posted May 1 Share Posted May 1 I am looking for recommendations on who to use for exchanging GBP to AUD. I am a resident in Australia and received money from an inheritance into a bank account in the UK which I want to transfer. I used Moneycorp to transfer funds 10 years ago when we migrated but just tried to sign up online but it says “unable to offer our service” when I put in Australia as place of residence. Any help appreciated. Quote Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted May 1 Share Posted May 1 Hi Bristle Look into these guys..................they have pretty much disrupted the forex space and rapidly become the go to for Pommies looking to transfer. All done through an App, very low fees and very quick and efficient (once your Account is up and running). https://wise.com/au/ Others if you are looking for the personal/human touch: https://www.ofx.com/en-au/personal/ https://www.sendpayments.com/ https://www.torfx.com.au/ Good luck Andy Quote Link to comment Share on other sites More sharing options...
Bristle Posted May 1 Author Share Posted May 1 Thanks for the info, I will look into those you have listed. Quote Link to comment Share on other sites More sharing options...
rammygirl Posted May 1 Share Posted May 1 Can’t add anything to the above except that you may need to send proof of where the funds came from as a new customer. Quote Link to comment Share on other sites More sharing options...
Mopoke Posted May 2 Share Posted May 2 +1 for Wise. It is registered with the UK and Australian financial authorities so you have recourse. The app is great and pretty transparent. Others will be along to tell you that other websites offer better rates [like Revolut] but Wise has been stress free for me. Wise rates are still MUCH better than bank rates. I've used it for GBP/EUR/USD. They are fine for large amounts too. Good luck. 1 Quote Link to comment Share on other sites More sharing options...
Tregunec Posted May 15 Share Posted May 15 My friend uses Wise Quote Link to comment Share on other sites More sharing options...
can1983 Posted May 17 Share Posted May 17 I'm using wise. essentially you get the exact international rate less 0.24% commission. Quote Link to comment Share on other sites More sharing options...
Ausvisitor Posted May 17 Share Posted May 17 51 minutes ago, can1983 said: I'm using wise. essentially you get the exact international rate less 0.24% commission. That's the feeling for Transfering 750k GBP (about 1.5m AUD) If you are transferring a more modest sum i.e 100k GBP the fee is around 0.38% Still better than anyone else though! Quote Link to comment Share on other sites More sharing options...
can1983 Posted May 17 Share Posted May 17 4 hours ago, Ausvisitor said: That's the feeling for Transfering 750k GBP (about 1.5m AUD) If you are transferring a more modest sum i.e 100k GBP the fee is around 0.38% Still better than anyone else though! That was the fee for GBP 25k but actually it was the last of several similar transfers this year so perhaps it changes Quote Link to comment Share on other sites More sharing options...
Ausvisitor Posted May 17 Share Posted May 17 (edited) 23 minutes ago, can1983 said: That was the fee for GBP 25k but actually it was the last of several similar transfers this year so perhaps it changes They've just changed their fee structure, but the figures I quoted are what you would get today Edited May 17 by Ausvisitor Quote Link to comment Share on other sites More sharing options...
rammygirl Posted May 18 Share Posted May 18 Don’t assume that fee free is better either. Check the actual amount that will land in your account. That’s the bottom line. Often paying a fee is better value overall. 1 Quote Link to comment Share on other sites More sharing options...
OzGraham Posted May 21 Share Posted May 21 use Wise regularly and they are far the best i have tried Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.