Guest chris_mac Posted October 8, 2008 Share Posted October 8, 2008 If you want to take advantage of the weak AUD you dont need an australian bank to do so.. If you use a company to buy and sell, once you have bought it goes into a trust! You can then wait as long as you like to open an account in oz then instruct the company to transfer the funds from the Trust into the account.. Its as easy as that! Looking at the forecasts it is highly likely the Ozzy dollar is going to quickly recover! Hope this helps! Chris Mac General Electrician Applied TRA Aug 07 TRA Retuned Oct (Skill path D removed) Re-applied Vetassess 01.01.08 Vetassess Paper Assess Passed 10.04.08 House up for sale 28.03.08 sold 14.04.08 (3 weeks, crikey) Vetassess Practical 15.07.08 Practical Passed 11.08.08 176 Visa Application submitted 11.09.08 DIAC Acknowledgement 24.09.08 Sent Police checks 27.08.08 - Recieved 06.09.08 Link to comment Share on other sites More sharing options...
magikliz Posted October 8, 2008 Share Posted October 8, 2008 Thanks for the info Chris Mac At the moment I'm too nervous to put my money into any banking institute (oz or UK). Placing it into a trust sounds like a good short term solution. How do I start the process of opening a trust? Kind Regards, Magikliz Link to comment Share on other sites More sharing options...
Guest chris_mac Posted October 8, 2008 Share Posted October 8, 2008 Thanks for the info Chris Mac At the moment I'm too nervous to put my money into any banking institute (oz or UK). Placing it into a trust sounds like a good short term solution. How do I start the process of opening a trust? Kind Regards, Magikliz Just find a foreign exchange specialist (Company) and open an account.. Simple as that.. Hifx for eg! But there are loads of other businesses on the net, not that i endorse Hifx in any way shape or form... :wacko: Link to comment Share on other sites More sharing options...
Guest W99TTS Posted October 8, 2008 Share Posted October 8, 2008 Just find a foreign exchange specialist (Company) and open an account.. Simple as that.. Hifx for eg! But there are loads of other businesses on the net, not that i endorse Hifx in any way shape or form... :wacko: Hi I took advantage of the change in interest rates today and secured 2.57 AUD and just transfered half of our money as I expected it to fall again tomorrow based on the current UK economy. I used Money Corp for the exchange and have provided Money Corp with an Australian bank account that I opened with the Commonwealth bank. If you open a UK Commonwealth account it then can be exchanged and moved to Australia whenever you want to do a money exchange and it earns approx 6% in Australia. You then just activate the account and have access to the money once in Australia. How does a trust work who holds the dollars, do you earn interest on these funds and is it secure? Its all a mind field and I was really nervous moving some today but couldn't not take advantage of the market. We will move the rest when were ready to move hopefully before Christmas. Link to comment Share on other sites More sharing options...
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