Getting an aussie bank account???

Travel Forums Australia / New Zealand & The Pacific Getting an aussie bank account???

1. Posted by hollyblond (Budding Member 14 posts) 12y Star this if you like it!

[b]Does anybody what the best way of doing this would be??

I know what account etc im getting but is it best to just transfer the funds from my english account or take travellers cheques etc and pay them in cause im gonna have about £7,000??

2. Posted by mojorob (Moderator 1047 posts) 12y Star this if you like it!

There is a law to report cash transfers of AU$10,000 or more (or foreign money equivalent) into and out of Australia. This is approx £4,000. It's called the FTR Act (

So it might be an idea to transfer half of that beforehand, and take travellers cheques for the rest. Also remember to take enough cash for first few days (which can cover costs like food/accommodation/local travel/sightseeing) as there could be a delay before you can get your hands on the money in the bank account that you either transferred or credited via travellers cheques.

3. Posted by strayalien (Budding Member 120 posts) 12y Star this if you like it!

Why not just bring your switch card from your U.K account and just get money out of Aus. a.t.m's i was with H.S.B.C when i lived over there and there rates where pretty good and the exchange rate was also fare.You could also get a Travel Ex passbook account i used this in South Africa and found it real good,can't remember what they charged though.
The few times i transfered money from England to people back in Aus the rate was crappy and there where a load of fees.