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Guest sun lovers

just wondering

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Guest sun lovers

Hi i was just wondering with the exchange rate the way it is, if we sold our house rather than renting it. kept our money in sterling but moved it to a oz bank are we able to get the Australian interest rate. Then change it to dollers if and when the exchange rate changes. Just wondered if anyone has done this and is this possible :chatterbox:

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You cant keep it as sterling in an Australian Bank

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Guest sun lovers

can you get their interest rates if you keep it in sterling

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You cannot keep sterling in an australian bank!

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Guest sun lovers

ah sorry read that wrong thanks someone told me you could, so thought i would ask on here as i knew someone would know never mind thought that might b to good to be true

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I believe the Aus banks (and HSBC) have GBP denominated offerings.

 

However, the interest rate you will get will be linked to the Bank of England Base Rate, not the Australian Reserve Bank's.

 

Best regards.


Managing Director, Go Matilda Visas - www.gomatilda.com

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T - 023 81 66 11 55 (UK) or 03 9935 2929 (Australia)

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can you get their interest rates if you keep it in sterling

 

I think you can keep it in an offshore part of an Oz bank but they give a real poor interest rate sterling, so not worth it.


Liz, Steve, India 13, Alex 12 and Siella 4

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Visa approved 16 March 2011. Emigrated from Plymouth, UK to WA August 2011.

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I apologise i got it wrong. I was thinking that the OP wanted to pay Sterling into a normal bank account. i see there is an account but is the same interest rate as UK so what is the point.

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Guest sun lovers

Thanks everyone for the info yes agree no point, would of been nice to have my house money in a higher interest rate, might just rent the house for now then to make the money work for us. :biggrin:

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