Just sorted my visa and I am currently planning to land in Melbourne at the end of next month. I'm looking at transferring a lot of savings and opening an aussie bank acc. Any one got any tips on which ways best to do it. I know there are plenty of work and play schemes where you pay for a tour company to do it. Is this well worth it or can it easily be done off your own back?
This isn't really hard to do on your own to be honest. Some companies even let you do this from abroad now I think, but I'd probably stay clear of those as they are often the ones that will then charge you more per withdrawal.
If your bank at home doesn't charge you too much, you can live with just using that to withdraw money when you first arrive, and setting up a local bank account some time within the first few days. You'll need that one eventually if you plan to work and cash cheques or have it deposited into your account.
Check out this Web site: http://uk.embassy.gov.au/lhlh/FAQsBanks.html
The information on the Web site was prepared by the UK Embassy in Australia. It has all the information you need.
I have used a company called Tranzfers several times for international money transfers, and have found them really reliable. They are normally much cheaper than the banks, and much quicker.
Thanks guys, appreciate the help!
You can already open an account abroad from your home, I think?
[ Edit: Edited on 11-Jan-2017, at 07:51 by Jackson81 ]
Why do you want to transfer the money at all?
If you have the money in a bank account for which you have a debit card, you can simply withdraw money as you need it. If you have the right account with the right bank that does not charge exchange loading or any other fees on overseas withdrawals, that will cost you nothing. There is no way to transfer money from one bank to a bank in another country that will not cost you money.
Are you travelling or are you moving to Australia permanently? You mention a visa but do not say what kind of visa so that is unclear. If you are moving to Australia and want to transfer significant capital that is one thing but if you are simply going on a WHV for a year, you have no real need to transfer money, you just need to be able to access the money.
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