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Bank Accounts and Transferring Money!!

Travel Forums Australia / New Zealand & The Pacific Bank Accounts and Transferring Money!!

1. Posted by galeforce66 (Budding Member 28 posts) 5y

Hiya,

I am currently in the process of opening up an australian account however I need some advice on how to transfer funds into it.

The bank told me it will be £25 charge and they dont offer good rates. Anyone able to give me advice on best way to do it? I heard Tranzfers are good but I just want to escape nasty charges lol.;) Also any ideas what Bank is best to use? I hear Commonwealth are good so may go with them.

Many thanks,

Laura x

2. Posted by LaurenLolz (Respected Member 226 posts) 5y

I used WestPac in Oz... but I didn't wire transfer any money... I just took it out of my US account with my debit card from an ATM in OZ (that doesn't charge a fee) and deposited it into my WestPac account. Also they are very good at keeping fees to a minimum, unless you overdraft.

3. Posted by bex76 (Moderator 3711 posts) 5y

I have used Tranzfers several times and have found them to be much cheaper and quicker than the banks, and their exchange rates are always good. Last time I used them the charge was £7 regardless of how much was being transferred.

I have yet to find a bank that come close to offering the rates and service that Tranzfers do.

4. Posted by galeforce66 (Budding Member 28 posts) 5y

Thanks for the replys guys,

I think will go with commonwealth as they are very popular and have alot of atms there too. My uk bank has high overseas charge for withdrawal. I am going to take an fx Card as a back up incase I have problems.

The reviews for Tranzfers were great so I may use them.. I am going in 2 weeks so hopefully be time enough for the money to be transferred in.

Laura x

5. Posted by Katylou (Budding Member 65 posts) 5y

How do u get a bank account if you don't have a permanent address do they do like special travel ones.

6. Posted by Sander (Moderator 4808 posts) 5y

Quoting Katylou

How do u get a bank account if you don't have a permanent address do they do like special travel ones.

You just give the bank the address of your hostel to send your debit card to, and tell them not to send you any bank statements (or to set the frequency to once a year if they don't allow that, and then cancel the account before the year is up). Given the huge amount of backpackers coming through each year, banks should be quite used to this.

[ Edit: Edited on 29-Apr-2011, at 13:34 by Sander ]

7. Posted by Katylou (Budding Member 65 posts) 5y

Thanks that's great

Post 8 was removed by a moderator