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Money transfer to oz account??

Travel Forums Australia / New Zealand & The Pacific Money transfer to oz account??

1. Posted by dawn90 (Inactive 17 posts) 9y

Hey

I'm with the bank of scotland and I've just spoken to them about transferring my money to account in oz when I'm there. They say it costs £17.50 to transfer all my money over when I'm there. Is this the best way to do it? How have other people taken their money with them to oz??

Thanks!

2. Posted by Gem_H (Budding Member 8 posts) 9y

I havent actually been to Oz myself yet but I am leaving in 5 weeks apparently this is the easiest way to transfer money but one of my friends mentioned that Nationwide do not charge you for taking money out abroad so therefore saving the £17.50 to be honest i cant be bothered to open a new account so will just pay the fee. hope this helps slightly?

3. Posted by Neily03 (Full Member 110 posts) 9y

If you're going to work you'll need an oz account so you might aswell do the transfer, if not and your bank doesn't charge for overseas withdrawels then don't bother.

I'll be working while i'm out there so i'll get an oz account and do the transfer.

4. Posted by dawn90 (Inactive 17 posts) 9y

Hey...thanks for the quick replies :)

I am going to be working out there so I will def need an Oz account. I've read about Nationwide aswell but I can't be bothered opening a new account either so def think I'll just transfer the money all at once when I'm there and pay the fee.

Also, she said that the currency exchange rates change daily so to phone up on different days to try to get the best quote, is there really that much difference in the rates from day to day??

5. Posted by julien22 (Budding Member 2 posts) 9y

Hi everyone, don't know if you all know this but if you are going to work in OZ you will need to gain a file tax number if you do not you will be taxed 47% of your earnings. when you get to OZ go to citibank to open an account, to get a file tax number(FTN)go to www.ato.gov.au this can take upto 4 weeks to be issued

need anything else just ask

Cheers
Jules

6. Posted by Gem_H (Budding Member 8 posts) 9y

Hey I read about needing a TFN but when we bought our Visa's it said that they would sort that out for us?? Do you think i should check on this?

Thanks

Gem

7. Posted by Oakey (Budding Member 64 posts) 9y

I have opened a Nationwide account I will be using for my spends, and I'm gonna open an ozzy account when I get there for my wages..

On the TFN front, can I apply before I enter Oz, I went on the website but I was under the impression you need to have entered Oz before applying??? can anyone confirm this.....

Cheers

Mike.

8. Posted by Sander (Moderator 4834 posts) 9y

Quoting Oakey

I was under the impression you need to have entered Oz before applying??? can anyone confirm this.....

This is correct. (Or was two years ago, at the very least, but I doubt it's changed.)