Transferring money from my UK account to my new Australian Account

CardiffChris

Hi there

I am soon to be going to Australia for an extended amount of time and am looking at transferring a large sum to my new account that I have set up with the National Australia Bank.

I have been looking at ways to do this and using TorFX seems to be a good option. Due to the amounts of money involved though, I am a bit apprehensive and wondered what is the best way (and cheapest) to transfer money from my UK bank aco!!!! over to my aussie one?

Any helo would be appreciated. :mad:

balt

Been looking at this myself, www.ukforex.co.uk/ sounds good the exchange rate is excellant and I was offered two free transfers.
I think its Westpac bank in Oz which is big so should be ok.
Let me know what you think.
How did set up an Oz account from UK?

neilbond007

I used TorFX twice 2 years ago when moving to the US and was very happy with them. I'm currently transferring some more money. This time with IFX (as they had the best rates). The transfer is due for tomorrow. I'll let you know how it goes!

thegirlintheattic

If you are happy doing it in small-ish amounts paypal works well and is free. The OH used it when he lived in the US for a year to transfer his cash.

neilbond007

Just a bit of feedback on IFX (http://www.internationalfx.com/).

I had issues with my money and the Halifax / Solicitors cheque. To cut a long story short I was a couple of daya late with the money I agreed to transfer, and it was less than on the original agreement.
IFX got the money to me speedily and at the same rate as agreed for the larger amount. I was a little surprised by the GBP10 charge (bank fees) but this was more than offset by the better exchange rate they gave.

A definite thumbs up from me!

kimsday1

Live in aus been with them for 15 years the best free bank no charges and uses other banks facilities example commonwealth biggest bank in aus allso use there banking card when going overseas as there rates are excellent in ref to xchg and charges

signol

As long as you have the bank account details abroad, most high street banks here will do it. Nat West charged me a fixed £9 to transfer several £100s to a South African bank, with an exchange rate that was close to the "official" one (only a few rands different). This would probably be the easiest way.

signol

lewroll

thegirlintheattic wrote: »

If you are happy doing it in small-ish amounts paypal works well and is free. The OH used it when he lived in the US for a year to transfer his cash.

How does this work then please? How small should the amounts be?
Thanks for your time

Voyager2002

thegirlintheattic wrote: »

If you are happy doing it in small-ish amounts paypal works well and is free. The OH used it when he lived in the US for a year to transfer his cash.

No, there are costs involved in using Paypal, and their exchange rate is not the best. Getting a better deal than Paypal is usually fairly easy.

Voyager2002

signol wrote: »

As long as you have the bank account details abroad, most high street banks here will do it. Nat West charged me a fixed £9 to transfer several £100s to a South African bank, with an exchange rate that was close to the "official" one (only a few rands different). This would probably be the easiest way.

signol

How long ago was that?

The last time I explored this with high street banks, they only offered this service to people who had an account with them; the fixed fee was more like 25 pounds; and the exchange rate was not all that good.

signol

Voyager2002,

It was a couple of years ago, I've used both of these. Yes I had to have an account with them, and it was debited with the transfer amount + fee.
HSBC charge £9 for transfers up to £2000
Natwest now charge £10 for the same.

signol