scarlet mia Posted January 9, 2012 Share Posted January 9, 2012 Hi was just wondering if anybody could help we are thinking of keeping our u.k loan when we move to oz in August. Is it possible and easy enough to transfer money from oz to u.k bank account and is it legal do you have to inform the bank or does it not matter as long as they get their payment every month. Thanks for any advise. Karen x Link to comment Share on other sites More sharing options...
PositivePixie Posted January 9, 2012 Share Posted January 9, 2012 Not an issue for a loan at all, and pretty easy to do, the only problem you may find is the payment/transfer fees paying a UK account from your ozzie account, as banking isn't as free in Oz as it is here. There are a couple of ways of minimising costs, but sure others can give more 100% accurate figures etc on that for you. The bank don't care - as long as they get their money - where it comes from. Link to comment Share on other sites More sharing options...
Missus B Posted January 9, 2012 Share Posted January 9, 2012 We are planning to do the same. If finances allow, we are hoping to leave 4-6 months advanced payments in the UK bank account. We then plan to put away the monthly payments in Oz and do a bank transfer once every few months to minimise the transfer fees. For instance, if I wanted to pay £20 or £200 into an Irish bank account from the UK, it costs me £25. If the Oz banks have a similiar policy, it would make sense to make one large payment every 6 months, rather than a monthly payment. I know NAB have an online International Transfer service but it doesn't list the fees for this service. Link to comment Share on other sites More sharing options...
scarlet mia Posted January 9, 2012 Author Share Posted January 9, 2012 Thankyou for your replies thats really helpful. Link to comment Share on other sites More sharing options...
Missus B Posted January 9, 2012 Share Posted January 9, 2012 http://www.nab.com.au/wps/wcm/connect/nab/nab/home/personal_finance/12/11/15#one $22 per transfer. You should find all the info you need here. Link to comment Share on other sites More sharing options...
Guest Guest31881 Posted January 9, 2012 Share Posted January 9, 2012 For relatively small amounts Look into opening a PayPal Account linked to your UK bank account. It can work out cheaper paying money into your PayPal account and then just transferring it to your UK account. if you can send one lump sum every few months look at the forex companies. bank transfer is expensive. Link to comment Share on other sites More sharing options...
boganbear Posted January 10, 2012 Share Posted January 10, 2012 Paying off your loans asap would be cheaper and much less hassle. Link to comment Share on other sites More sharing options...
Rachael R Posted January 11, 2012 Share Posted January 11, 2012 Have a look at Hi Fx. We have used them before did not cost as much as using a bank. Link to comment Share on other sites More sharing options...
scarlet mia Posted January 11, 2012 Author Share Posted January 11, 2012 Thankyou do you mean opening up a bank account with them or can you just use them to transfer money. Link to comment Share on other sites More sharing options...
Missus B Posted January 11, 2012 Share Posted January 11, 2012 In an ideal world, maybe. I need to take my job up within 3 months of getting visa and if I paid my loans of, I would have no money to go:( Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.