Transferring AUD to GBP?

pazza2000

Have $5000AUD sitting in my old Aus bank account. Have since moved to the UK permenently and wish to trasfer it to my Brit account. Its in an ANZ account, they charge $30 transfer fee and i dont really think there exchange rate offered is the best. Is there away to transfer it & ensure the best exchange rate. Pretty specific question here, might need knowledge of ANZ etc...

Thanks for any answers.

pazza2000

Just out of curiosity.... How does it work if you pay a foreign currency into a UK bank account, what fee/commission do they usually take??

Donnie

http://www.hifx.com.au/personal/money_transfers/overview.aspx

pazza2000

Thanks. Had a look. Unfourtunately this is for transactions 10K and above...

Donnie

Doesn't appear that expensive to do it via your bank: ANZ. Fees on page 12.

pazza2000

Maybe i will stick with ANZ. There is a conversion fee, its the conversion rate that concerns me, but being a big national bank im guessing they are realistic/competitive with this(or i hope) so perhaps i should just stick with them. Thanks for your help.

sambagirl

Hi Pazza,

When I returned from Oz a couple of years ago I just transferred the $3000 I had straight from ANZ to my Nationwide account. It was easy and straight forward, and I think the rate was really ok.

Just one observation (Im moving back to Oz in September so I happened to look into this) - I noticed that 4% is the general going interest rate on savings out there. If you don't need the cash over here straight away, and you can find a high interest savings account of say 5 or 6%, then you may want to consider keeping it over there for a bit to build up some interest. However, you do run the risk of the pound gaining strength in the mean time.

Just a thought anyway. Hope whichever transaction you choose runs smoothly!

than4

Not sure if you are an Aussie and what ability you have to open other accounts there.

HSBC transfer might be cheaper because you can transfer to HSBC here.

We have a Wizard credit card, which doesn't charge for overseas transactions, including cash withdrawals (put the money into your account beforehand), so if you can still open accounts, you could use the $5K this way.

Otherwise, perhaps you could contact your bank and see if they will let you do a large ATM (or over the counter??) withdrawal. I think most Aus banks charge $5 per transaction, so it might work out cheaper to just use an ATM card and get the money out that way.

AshleyECFX

HiFX wont do anything under 10K? Thats news to me, last time I heard it was 1K?

Anyways, Why not try us, or compare, No set minimums, frankly does the exact same service, smaller company, not the massive overheads, massive marketing expenses, so we guarantee not to be beaten on rate.

Regards,
Ashley Ingle
Excel Currencies

PolishBigSpender

http://www.moneybookers.com is your friend

(no personal link, just a satisfied customer!)

bridiej

maybe too late but have a look at tranzfers.com (they are part of ozforex) they allow smaller amounts for a very small fee. I use them all the time as I still get paid in the UK so every month transfer the money over here.