Skip Navigation

Transfering Money

Travel Forums Australia / New Zealand & The Pacific Transfering Money

1. Posted by Nyssa (Budding Member 31 posts) 7y

hey guys,

Sorry, this is probably a stupid question, but what is the best/cheapest way for me to get my money from my Canadian bank account into an Australian bank account once I'm in Australia? Can I just write myself a cheque? And if so will there be a substantial fee for cashing this? Will it effect the exchange rate?

Thanks,

Nyssa

2. Posted by Dodger (Inactive 875 posts) 7y

If you wrote a check on your Canadian account and deposited it in your Aussie account, it can take anywhere from a week to 2 weeks to clear and they will charge a processing fee, usually around $25us

I opened a bank account in NZ and then opened a paypal account using a different email address from my US paypal account. Now I can transfer money from one paypal account to the other then deposit the money in the other bank account, all online and without any charges.

3. Posted by bex76 (Moderator 3720 posts) 7y

Try Tranzfers - my boyfriend and I have both used them several times and they are excellent. Their service is very efficient and they are much cheaper (and quicker) than the banks. The exchange rate you get is always as good as or the same as what the banks would give you.

4. Posted by Blinq (Inactive 341 posts) 7y

I would imagine that you could withdraw cash from any ATM machine. Both Canada and Australia are bound the be part of the ATM Pool. But you can verify that with your own bank.

Generally speaking cash withdrawals using an ordinary ATM card are free, but you'll be charged a fee for withdrawing cash using a credit card.

5. Posted by bex76 (Moderator 3720 posts) 7y

Quoting Blinq

I would imagine that you could withdraw cash from any ATM machine. Both Canada and Australia are bound the be part of the ATM Pool. But you can verify that with your own bank.

Generally speaking cash withdrawals using an ordinary ATM card are free, but you'll be charged a fee for withdrawing cash using a credit card.

Nyssa was asking how to transfer money from one bank to another; this can't be done using an ATM.

[ Edit: Edited on 07-May-2009, at 01:05 by bex76 ]

6. Posted by Blinq (Inactive 341 posts) 7y

Quoting bex76

Nyssa was asking how to transfer money from one bank to another; this can't be done using an ATM.

OK, fair enough. In that particular case, do you have an Internet banking facility Nyssa? If so, you should have the option to make International transfers via the Internet. The charge should be minimal at about $5 since the whole procedure is automatic and requires no user intervention on the part of the bank.

We can do that over here in the Netherlands and I've transferred funds to Thailand before without a problem. It's very fast taking less than two hours on average.

7. Posted by Redpaddy (Inactive 1004 posts) 7y

Would this be of any use??
http://www.hifx.co.uk