Transferring Money

[OonaghWeeks]

Has anyone used OZF REX - as advertised on this site.

I know a lot of people use HiFX.

Any comments gratefully recieved!:notworthy:

[Guest HPRYCE]

Hi there. We have used Ozforex. We booked the rate at AUD 2.50 on a forward contract for completion end Oct. So far been very impressed with them but the proof will be on the contract completion date to see whether the Aussie dollars arrive where they should do!! Don't envisage any probs and the advantage of using them over HIFX was that they only required a 5% deposit when the rate was fixed unlike HIFX who wanted 10%. I will have no qualms about using them again.

[OonaghWeeks]

Thank you HPRYCE.

I am not in a position to do anything just yet - hopefully should complete on my house in the next 4 weeks & am planning on moving out at the beginning of December.

My brother & sister-in-law went out last week & used HiFX & are happy with the service... but I just want to shop around a bit.

Where & when are you going?

[Guest HPRYCE]

Hi Oonagh. We're flying out on 31st Oct and heading for Melbourne after a 3 night stop in Singapore. We complete on our house on 5th Oct so will stay with rellies until we depart. We're not in any rush to buy a house in Oz so will leave the bulk of the proceeds of our house sale in the UK until hopefully the exchange rate improves again. May be wishful thinking and may kick ourselves we didn't do more at AUD 2.50 but at that time we hadn't exchanged on the house and whilst we could have fixed forward on the expectation that the house sale would go through I'm not that brave. Where are you heading?

[OonaghWeeks]

Hi Guys

I think I'll be leaving the bulk of the money here too - unless the rate improves!

 

I'm heading out to the Sunshine Coast - an hour North of Brisbane. can't wait & wish I could go now.

[Guest The Picketts]

Hi Oonagh - We used OzForex (UKForex in London) and bought at AU$2.45 and AU$2.51 when rates recently shot up. Sent 5% of each lump as deposits and transferred money to them as soon as we received proceeds from house sale. We had a slight hiccup on the timing of their transfer to us but as soon as I queried it we received the full sum 24hours later - just a breakdown in communication. Very pleased with their service and will be using them again when rates change in the future to bring the balance of our monies.

 

Regards, Cheryl

[Guest Jo & Mark]

HI there, we're in a similar situation, and thought about leaving our money here for a while until the rate goes up - does anyone know the tax implications of transfering funds in stages like this? How long have we got to transfer all of our savings before it becomes subject to Ozzy tax? We have fingers crossed there wil be a huge hike in the rate in the next two weeks!

 

 

Hi Oonagh. We're flying out on 31st Oct and heading for Melbourne after a 3 night stop in Singapore. We complete on our house on 5th Oct so will stay with rellies until we depart. We're not in any rush to buy a house in Oz so will leave the bulk of the proceeds of our house sale in the UK until hopefully the exchange rate improves again. May be wishful thinking and may kick ourselves we didn't do more at AUD 2.50 but at that time we hadn't exchanged on the house and whilst we could have fixed forward on the expectation that the house sale would go through I'm not that brave. Where are you heading?

[Guest mick-jo]

Hi, just read your post re leaving proceeds of house sale in UK. we want to do the same when we move over to Oz next September but are not sure if we will have to pay tax on this money. Can you shed any light on this for us please?

Jo & Mick