Taking savings abroad

resi

Apologies if posting in the incorrect thread.

I am trying to find out if I can and how best to to move my savings to Australia as I will be moving there in September. I am wondering if it's best to do it in 'instalments' or one move?

Any advice gratefully received!!
Thanks, R

atush

Where will you move it to? Do you have an Aus acct?

if not, you'll have t do it after you open one?

You can use your bank, or you can use a currency specialist such as ones listed on this website.

As to currency moves, well if we knew the best time we would be currency trading not hanging out here. Move it when you see a rate you like, and dont move all of it if you think you will come back.

resi

Sorry, obv not explained correctly!
Moving to OZ joint account with my partner. What I was wondering was, if there is a process, or limit, I can move out of UK into Oz?
I perfectly understand about the exchange rate!
Thanks, R

remorseless

hmm it depends on whether you are transferring or converting!
If you have GBP and want to move them from UK to AU and keep them in GBP.
Of if you have GBP and want to FX them to AUD.

As long as the money is yours (traceable, etc) then it's pretty swift.
if you need to FX you could use UKForex or TransferWise.
TransferWise has a limit of AUD500k/day. So depending how much you have you may need to do few go.

Obviously with all FX, depending on the day the exchange will be different and unless you're a fortune teller (or avid FX trader) you won't know if it's going up or down!

It is pretty good now will it get better, who knows!