The Brand New PIO Parents Visa thread

[bry45]

On 04/12/2017 at 23:24, SusieRoo said:

Transferwise charge 0.45% plus £1 for each transaction, so for £1,000 it would cost £5.50 (£4.50 in fees plus £1) and for £10,000 it would cost £46 (£45 in fees plus £1). But you get the full 'Mid Market' rate (fixed for 24 hours) and it's all very transparent easy to see exactly what everything is.

Basically if you google the exchange rate, then that's what you get with Transferwise. And because the rate is better than a no fee service, it sill works out favorably overall.

I think you do have to register online to get a quote, but this is free with no strings attached.

I personally dislike and distrust banks and believe they deliberately make their products confusing to maximise profits. So Transferwise is like a breath of fresh air, nothing hidden and very simple to use (and no sales calls or getting bombarded with emails).

I did once have to contact my uk bank before they released a payment, just to confirm it was genuine (which was reassuring).

Hi all

Sorry for not having posted or a while, been following all your posts and keeping up with the progress, just been very busy since we landed.

Regarding this topic, we use Westpak and I highly recommend them. All we had to do was open an account with their London office, which we did on line with £5000. In fact, they did it for us, all I did was call them.This gives you a Westpak Uk account. We then went into the local Westpak branch to where we are staying in OZ and registered for our Westpak AU account and bank cards. The London branch gave us a personal account manager who handles all our money transfers and you can transfer as much or as little as you want to without charges.

The London account does not earn interest, so we leave our money in our original Uk bank until we need some cash and all I do now is keep an eye on the exchange rate as I don't want to transfer all our money at once and when we need some AUD, we transfer the equivalent GBP amount into our Westpak Uk account, they then transfer that amount into our OZ account and providing we transfer a minimum of £5000, we get an exchange rate at 1 point below current and no fees and the money is in our AU account the following day. 

They could not be more helpful and considering the fluctuating exchange rate, this works great for us as we don't need all our money transferred just yet. I realise we are all in different positions however, whether you need to transfer all your monies or not, its free.

By the way, Its great reading that allot of you are at or through the exit door of the waiting room.

 

 

[MaggieMay24]

11 hours ago, KathleenandCraig said:

Hi Alan

it states:

“12 month(s) from the date of each arrival”

and has the following conditions:

8503 - NO FURTHER STAY
8558 - MAXIMUM 12 MONTHS STAY IN 18 MONTHS 8501 - MAINTAIN HEALTH INSURANCE
8101 - NO WORK
8201 - MAXIMUM 3 MONTHS STUDY

Any advice?

Cheers

Craig

AFAIK, it's 12 months in any 18 month period, so it calculates on a rolling basis.

[AMP]

On 04/12/2017 at 18:40, Sadge said:

Was that after fees & charges?

I've been looking for a comparison site for rates where you can just put the amount in you want to transfer.  The sites I've looked at seem to require that you register to get a quote.

While the rate is currently reasonable  I have been buying things here (petrol, shopping etc) using my UK credit card.  It’s a Nationwide one, there are no fees at all and you get the actual exchange rate.  For those still in the UK then it’s worth investigating and getting such a card if you haven’t got one already.  Nationwide  told me there was no problem keeping any of my accounts in Oz as long as I opened them whilst I was still fully UK resident.  I have changed my address to Australia.   It’s just  that I am now ineligible to open up new accounts.  It’s a bit of a bind as it means I am now excluded from the regular saver accounts which give a higher interest rate and my last one has just matured!  If you are looking to keep any savings in the UK then make sure it’s not a limited term account.  

[Alan Collett]

3 hours ago, MaggieMay24 said:

AFAIK, it's 12 months in any 18 month period, so it calculates on a rolling basis.

Yes, that's right - you look at a rolling 18 month period.

Here are extracts from Department of Immigration policy relating to condition 8558:

Condition 8558 is a discretionary condition which states that the visa holder must not remain in Australia for more than 12 months in any 18 month period.

The intention of this condition is to maintain the integrity of the visitor visa program while facilitating longer stays by parents of Australians.

The condition reflects Schedule 2 requirements that the applicant's intention is to only visit Australia ('genuine visitor') and also the regulation 2.43(1)(j) visa cancellation power if the holder is not or has ceased to be a genuine visitor.

Condition 8558 is a discretionary condition.

Under policy this condition should be imposed if the parent of an Australian citizen or permanent resident is granted a visa that:

• is valid for 3-5 years
• allows multiple entry and
• allows 12 months stay on each entry.

The purpose of imposing the condition is to prevent the visa holder from using the visa to maintain ongoing residence in Australia.

Visa holders who cease to be genuine visitors in Australia are liable to have their visas cancelled under regulation 2.43(1)(j). The imposition of condition 8558 is intended to be more easily understood by visa holders and is a transparent way of reinforcing to visa holders the purpose of an FA-600 visa.

If the visa holder remains in Australia for a continuous period of more than 12 months their visa will automatically cease in accordance with s82.

If the visa holder remains in Australia for a cumulative period of more than 12 months in an 18 month period they have breach the condition but their visa will not automatically cease. A breach of the condition will result in the visa being liable for cancellation under s116(1)(b). Cancellation because of a breach of this condition would also result in the imposition of an exclusion period under PIC 4013(2) (if that PIC is a Schedule 2 criterion for visa grant).

A person who breached this condition on a previous visa (that is, they used the visa for de facto residence) and had their visa cancelled on that basis would be subject to an exclusion period. This is consistent will the treatment of persons whose FA-600 visa is cancelled for not being a genuine visitor (see PIC 4013(2)(d)).

Best regards.

[AMP]

On 04/12/2017 at 18:40, Sadge said:

Was that after fees & charges?

I've been looking for a comparison site for rates where you can just put the amount in you want to transfer.  The sites I've looked at seem to require that you register to get a quote.

Please will you PM me too? Or tell me on Friday ?

[LindaH27]

Catlady Please could you pm me the company name too? I’ve just transferred some  via my bank and got a really shoddy deal ?

[Catlady2014]

1 hour ago, LindaH27 said:

Catlady Please could you pm me the company name too? I’ve just transferred some  via my bank and got a really shoddy deal ?

Don't use banks, they give rotten exchange rates and charge transfer fees.  Your own links that you posted were pretty good.  I've found that the dealers give far better rates, but you need to be sure they are regulated/authorised so that your money is kept separate from theirs.  There is one on pomsinoz that I regularly use but I also use another who is not on here.  I'll pm you with my advice for what it's worth, but you need to research the best deals because everybody's situation is different.  What works nicely for me may not be so good for you, and vice versa.  

[tabitha10]

On 28/11/2017 at 09:23, tabitha10 said:

So heads up....my daughter went into centerlink yesterday armed with all the paperwork and info...thought oh well have to wait possibly 3 months to hear anything and low and behold they called her this evening....yes this evening for the interview...everything was fine just wait for a letter to come to open the bank account...WOW just WOW.

had the letter to open the bank account !! yay 

[Gogirl1]

Hi all, good news from me too.  My daughter received her letter to open the bank account on Thursday and she opened it last Monday!  Cheque already to be sent when my agent gives me some good news re 2nd payment.  Still playing the waiting game but nearly at the door.  

[HarrisL16]

11 hours ago, AMP said:

While the rate is currently reasonable  I have been buying things here (petrol, shopping etc) using my UK credit card.  It’s a Nationwide one, there are no fees at all and you get the actual exchange rate.  For those still in the UK then it’s worth investigating and getting such a card if you haven’t got one already.  Nationwide  told me there was no problem keeping any of my accounts in Oz as long as I opened them whilst I was still fully UK resident.  I have changed my address to Australia.   It’s just  that I am now ineligible to open up new accounts.  It’s a bit of a bind as it means I am now excluded from the regular saver accounts which give a higher interest rate and my last one has just matured!  If you are looking to keep any savings in the UK then make sure it’s not a limited term account.  

We did the same with a uk post office card while we were here in 14/15 the rate when the rate was over $2 worked out much better

[SusieRoo]

12 hours ago, Alan Collett said:

Yes, that's right - you look at a rolling 18 month period.

Here are extracts from Department of Immigration policy relating to condition 8558:

Condition 8558 is a discretionary condition which states that the visa holder must not remain in Australia for more than 12 months in any 18 month period.

The intention of this condition is to maintain the integrity of the visitor visa program while facilitating longer stays by parents of Australians.

The condition reflects Schedule 2 requirements that the applicant's intention is to only visit Australia ('genuine visitor') and also the regulation 2.43(1)(j) visa cancellation power if the holder is not or has ceased to be a genuine visitor.

Condition 8558 is a discretionary condition.

Under policy this condition should be imposed if the parent of an Australian citizen or permanent resident is granted a visa that:

• is valid for 3-5 years
• allows multiple entry and
• allows 12 months stay on each entry.

The purpose of imposing the condition is to prevent the visa holder from using the visa to maintain ongoing residence in Australia.

Visa holders who cease to be genuine visitors in Australia are liable to have their visas cancelled under regulation 2.43(1)(j). The imposition of condition 8558 is intended to be more easily understood by visa holders and is a transparent way of reinforcing to visa holders the purpose of an FA-600 visa.

If the visa holder remains in Australia for a continuous period of more than 12 months their visa will automatically cease in accordance with s82.

If the visa holder remains in Australia for a cumulative period of more than 12 months in an 18 month period they have breach the condition but their visa will not automatically cease. A breach of the condition will result in the visa being liable for cancellation under s116(1)(b). Cancellation because of a breach of this condition would also result in the imposition of an exclusion period under PIC 4013(2) (if that PIC is a Schedule 2 criterion for visa grant).

A person who breached this condition on a previous visa (that is, they used the visa for de facto residence) and had their visa cancelled on that basis would be subject to an exclusion period. This is consistent will the treatment of persons whose FA-600 visa is cancelled for not being a genuine visitor (see PIC 4013(2)(d)).

Best regards.

 Good to get the facts clear for this condition on the 600 visa.

Also I recall you have raised concerns with the suitability of a 600 visa for queuing parents preempting 143 grants. Particularly if selling up in the UK and moving with household contents (which is something we have been considering).

It is sobering when reading "The purpose of imposing the condition is to prevent the visa holder from using the visa to maintain ongoing residence in Australia" and makes me think this may be not the best way for us to proceed.

Don't suppose there is any news or movement with the new parent visas?

[Sadge]

Thanks for all the personal experiences and links re money transfers - think I will make more of an effort to compare rates in future.  Don't think I've done too badly so far but it's obvious that a little more time spent online/on the phone could yield an extra cent or two in the pound, which is never a bad thing.

[suelear]

7 hours ago, HarrisL16 said:

We did the same with a uk post office card while we were here in 14/15 the rate when the rate was over $2 worked out much better

The Halifax Clarity card is the same.

[Alan Collett]

5 hours ago, Sadge said:

Thanks for all the personal experiences and links re money transfers - think I will make more of an effort to compare rates in future.  Don't think I've done too badly so far but it's obvious that a little more time spent online/on the phone could yield an extra cent or two in the pound, which is never a bad thing.

Maybe give your preferred forex company a target rate at which you would want to sell x GBPs and buy AUDs - eg 1.80?

Best regards.

[Kpnuts]

Transferwise charge 0.45% plus £1 for each transaction, so for £1,000 it would cost £5.50 (£4.50 in fees plus £1) and for £10,000 it would cost £46 (£45 in fees plus £1). But you get the full 'Mid Market' rate (fixed for 24 hours) and it's all very transparent easy to see exactly what everything is.
Basically if you google the exchange rate, then that's what you get with Transferwise. And because the rate is better than a no fee service, it sill works out favorably overall.
I think you do have to register online to get a quote, but this is free with no strings attached.
I personally dislike and distrust banks and believe they deliberately make their products confusing to maximise profits. So Transferwise is like a breath of fresh air, nothing hidden and very simple to use (and no sales calls or getting bombarded with emails).
I did once have to contact my uk bank before they released a payment, just to confirm it was genuine (which was reassuring).

That’s crazy.

Look at Currency Fair. Their rate is usually about 1cent below the market rate and only charge AU$4 when you transfer to your Aussie bank. They are affiliated to ANZ so it is best to open an account with them. We are also getting an introduction rate of 2.5% on our savings for 3 months so our house money is earning loads of interest.

[LindaH27]

I've just looked at Currency fair to compare  with Transferwise and the website said this

 

	Typical Bank
Transfer amount £ 2,000.00	Transfer amount £ 2,000.00
International transfer fees £ 2.50	International transfer fees £ 40.00
Exchange rate margin £ 6.00	Exchange rate margin £ 60.00
Total cost of transaction £ 8.50	Total cost of transaction £ 100.00
On average you pay just 0.4% of the amount exchanged plus a €3 (or currency equivalent) transfer

 

Transfer wise would charge £9.96 total fees so approx £1.50 more on £2000 transfer

Edited December 7, 2017 by LindaH27

[Kathss56]

@AMP. @Catlady2014

Hope you all have a great “meet up” tomorrow!

post a group photo!!  ?

 

[Alan Collett]

On 12/7/2017 at 09:05, Alan Collett said:

I'm keeping a watch every day on the legislation with the Government says needs to pass before the new visa can be introduced:

http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A"legislation%2Fbillhome%2Fr5688"

The Bill is scheduled for a continuation of the 2nd reading in the Senate today (again: it has been listed as part of Government business for the last few days) - and hopefully it will be debated as today is the last sitting day before the summer recess.

Are you on my temporary parent visa mailing list?

Feel able to ping an email (address below) or a private message to me if you're not, and would like to be.

Best regards.

So the Senate has risen for the Summer recess, and the Bill has not passed.

It is unclear to me why this Bill needs to pass before the temporary parent visa becomes available.  Domestic violence is cited as the reason for a necessary law change; while I can understand the need in the case of partner visa applications the concerns about sponsors in the parent visa area are surely misplaced.

I have sent an email to the Minister's office this afternoon seeking an explanation as to why this Bill needs to pass before the temporary parent visa can be made available to applicants.

Best regards.

Edited December 10, 2017 by MaggieMay24

[SusieRoo]

52 minutes ago, LindaH27 said:

I've just looked at Currency fair to compare  with Transferwise and the website said this

 

	Typical Bank
Transfer amount £ 2,000.00	Transfer amount £ 2,000.00
International transfer fees £ 2.50	International transfer fees £ 40.00
Exchange rate margin £ 6.00	Exchange rate margin £ 60.00
Total cost of transaction £ 8.50	Total cost of transaction £ 100.00
On average you pay just 0.4% of the amount exchanged plus a €3 (or currency equivalent) transfer

 

Transfer wise would charge £9.96 total fees so approx £1.50 more on £2000 transfer

This is a good comparison of fees, but we would need to compare the respective 'rates' to make a true comparison (which would be good to know).

What is the 'Exchange Rate Margin' and how is it calculated? I am guessing this is the difference between the actual rate and the rate you get, but when I read their website there is no explanation. Which is the reason why I don't truss companies who do not make everything transparent from the get-go (never believe the sales pitch until you have read to small print).

However, I do believe you are getting a reasonable deal with Currencyfair, but I still suspect in a true £ to au$ comparison Transferwise will be slightly ahead. 

Really for the sake of a few cents is not too important which company we choose, as long as the visa queue keeps getting shorter and the sun keeps shining in Australia. 

[Ray and Geri]

9 minutes ago, SusieRoo said:

This is a good comparison of fees, but we would need to compare the respective 'rates' to make a true comparison (which would be good to know).

What is the 'Exchange Rate Margin' and how is it calculated? I am guessing this is the difference between the actual rate and the rate you get, but when I read their website there is no explanation. Which is the reason why I don't truss companies who do not make everything transparent from the get-go (never believe the sales pitch until you have read to small print).

However, I do believe you are getting a reasonable deal with Currencyfair, but I still suspect in a true £ to au$ comparison Transferwise will be slightly ahead. 

Really for the sake of a few cents is not too important which company we choose, as long as the visa queue keeps getting shorter and the sun keeps shining in Australia. 

I'd agree with this.... once you have chosen a dealer you are happy with go with it and don't look again... 0.05 of a cent on your exchange rate can add up to a great deal of money on life savings or money from a house sale and the exchange rate fluctuates by the second. It does look as if the overall trend is going in the right direction but when I started this journey it was 2 to the GBP..... happy days. 

[LindaH27]

Just did a check on transferwise vs currency fair. Sending £2000 gets you in the end $3547.94 with transferwise and $3546 with currency fair so very little difference -  $1.94! 

[SusieRoo]

The exchange rate is up again today to just over au$1.79 to the Pound and I wonder if we will see go above 1.80 in the next few days?

[Brett31]

For how long will the department be closed for the summer break?

[Sharad Guru]

Hy brett 31,
Department will remain close from 15 dec to 6 January.

[MikenC]

We are currently assessing applications lodged up to and including 26 February 2015.

I woke up this morning feeling slightly frustrated having read this! Seems to be going in the wrong direction, any ideas why?