Gilllian Posted January 6, 2011 Share Posted January 6, 2011 Hello I'm going to be moving back to UK in November, after 27 years in Oz. I'll be needing to convert proceeds of house sale etc from dollars to pounds and put into an english bank account. I was thinking of just going to HSBC and seeing if I can open up account in Uk from here and convert everything in the one go. In terms of best rates though, does anyone have any suggestions for a better way? Thank you Gillian Link to comment Share on other sites More sharing options...
Guest Guest31881 Posted January 6, 2011 Share Posted January 6, 2011 I would suggest you use a forex company to transfer your money, you will get a better rate and you could save yourself a lot of money. banks are possibly the worst place you could go to convert money. i am sure others who have done the same will reccommend some reputable currency exchange companies. Link to comment Share on other sites More sharing options...
Guest guest32776 Posted January 6, 2011 Share Posted January 6, 2011 Open up a UK account with HSBC and then transfer it via oz forex or moneycorp. You will save a significant sum on the FOREX margin the bank would take... Lucky you! AUD into Quids!! Link to comment Share on other sites More sharing options...
Gilllian Posted January 6, 2011 Author Share Posted January 6, 2011 wow, instant replies! Thank you both Link to comment Share on other sites More sharing options...
pinkk8 Posted January 6, 2011 Share Posted January 6, 2011 I'm sorry to hijack your thread Gillian. I was just wondering if you would give the same answer (Charlie666) for different sums of money - ie. is this the best way because it is the proceeds of a house sale etc? What about a medium sized amount like 10,000AUD? Thanks Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted January 6, 2011 Share Posted January 6, 2011 Any amount over a $1000 is definitely worth using an exchange company, have a word with John at Moneycorp on here and see what rate he can offer, I know it's free transfers for PIO members. I have just moved $14k to the UK and wouldn't use the banks. Link to comment Share on other sites More sharing options...
Guest guest32776 Posted January 6, 2011 Share Posted January 6, 2011 I'm sorry to hijack your thread Gillian. I was just wondering if you would give the same answer (Charlie666) for different sums of money - ie. is this the best way because it is the proceeds of a house sale etc? What about a medium sized amount like 10,000AUD?Thanks I use ozforex for every transfer I make as they are very cheap/ no fee - keep your details and you can do it online. I've done six figure sums and much smaller as well. They are Macquarie Bank owned - who I would consider to be relatively risk free. Link to comment Share on other sites More sharing options...
pinkk8 Posted January 6, 2011 Share Posted January 6, 2011 Thank you both. Link to comment Share on other sites More sharing options...
Guest Gunner Posted January 6, 2011 Share Posted January 6, 2011 Any amount over a $1000 is definitely worth using an exchange company, have a word with John at Moneycorp on here and see what rate he can offer, I know it's free transfers for PIO members. I have just moved $14k to the UK and wouldn't use the banks. Moneycorp Australia has closed. I recently had money transferred by them but they advised they could not take any more transactions, shut the doors January 1. UK office can still help coming to Aus from UK though Link to comment Share on other sites More sharing options...
Guest Gunner Posted January 6, 2011 Share Posted January 6, 2011 Hello I'm going to be moving back to UK in November, after 27 years in Oz. I'll be needing to convert proceeds of house sale etc from dollars to pounds and put into an english bank account. I was thinking of just going to HSBC and seeing if I can open up account in Uk from here and convert everything in the one go. In terms of best rates though, does anyone have any suggestions for a better way? Thank you Gillian You can open an account online with the Clydesdale bank through NAB, as they are owned by NAB. They provide you with all the account details you need to then transfer money securely. I used Moneycorp to transfer from AU to Clydesdale bank but they have now close the Aus office so I suggest you use Ozforex Moving to the UK - Private Banking - Clydesdale Bank Pete Link to comment Share on other sites More sharing options...
2tigers Posted January 7, 2011 Share Posted January 7, 2011 Get in touch with OZFOREX and tell them how much your thinking to transfer, they gave me a good rate and didn't charge me any fees due to it being a large sum. So I'd ask them if they can do the same. There is so much competition they should help you out. To begin with it takes a bit of paperwork etc to set up with them, but once set up its dead easy to use online. You can see actual exchange rates moving and lock in when you see what you want. Link to comment Share on other sites More sharing options...
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