Woo1982 Posted January 2, 2013 Share Posted January 2, 2013 Hi All, We are moving out to Perth at the beginning of April but are looking to set up a bank account before then and transfer money over. If anyone has any advice on the best bank to do this with in terms of exchange rates and lowest transfer fees I'd be really grateful! Many thanks in advance and Happy New Year! Link to comment Share on other sites More sharing options...
Ali B Posted January 2, 2013 Share Posted January 2, 2013 Currency exchange - got this tip from my sis who uses them for UK to Spain. They are amazing and super efficient - cheaper than any other exchange quote we got. HiFX Dont use regular banks. They bounce the currency through a couple of markets [uK to Switzerland to NY to Singapore to Oz] to supposedly get preferential rates, but each market creams off a little bit, as the rate changes. Banks here for your account. We started with Commonwealth but the fees in the BIG banks are ridiculous. We've heard good things about MECU Credit Union which works like a building society. We've had our kids savings and term deposits there and have been very impressed. Shop around. The biggies arent necessarily the best. Link to comment Share on other sites More sharing options...
Spherian Posted January 2, 2013 Share Posted January 2, 2013 I'd say Bankwest if you are moving to WA, they have no monthly account fees if u bank 2k a month and you can withdraw cash from all the big banks free of charge. Link to comment Share on other sites More sharing options...
Woo1982 Posted January 4, 2013 Author Share Posted January 4, 2013 Thank you both for your replies! We shall have a look at what you have suggested! Thanks again! Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted January 4, 2013 Share Posted January 4, 2013 NAB have the best reputation in banks plus they don't charge you monthly fees like the others. To transfer your money look at Moneycorp and have a chat with John on here. Link to comment Share on other sites More sharing options...
ali Posted January 4, 2013 Share Posted January 4, 2013 We do all our banking with Westpac Link to comment Share on other sites More sharing options...
Parley Posted January 4, 2013 Share Posted January 4, 2013 So everyone nominates a different bank and OP is none the wiser. That tells you they are all basically the same and any one will do the job. Link to comment Share on other sites More sharing options...
Guest Ptp113 Posted January 4, 2013 Share Posted January 4, 2013 We do all our banking with Westpac After a recent experience I tend to agree. Would have said they were the worst just a month earlier. Link to comment Share on other sites More sharing options...
Guest Ptp113 Posted January 4, 2013 Share Posted January 4, 2013 So everyone nominates a different bank and OP is none the wiser. That tells you they are all basically the same and any one will do the job. disagree. Steer clear of ANZ for a start. NAB are middling, though they come across as the best by far service wise, until you have a problem. Then the lack of substance is all too apparent. Link to comment Share on other sites More sharing options...
Ali B Posted January 4, 2013 Share Posted January 4, 2013 NAB have the best reputation in banks plus they don't charge you monthly fees like the others. To transfer your money look at Moneycorp and have a chat with John on here. Wondering... Isn't Moneycorps the organisation promoted by this site? Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted January 4, 2013 Share Posted January 4, 2013 Wondering... Isn't Moneycorps the organisation promoted by this site? Yes that's correct, however, on a personal level we used them 10 years ago after positive feedback and I have never seen anything negative said since Link to comment Share on other sites More sharing options...
The Lloyds Posted January 4, 2013 Share Posted January 4, 2013 Hi Woo1982, We are moving out to Brisbane on Feb 05th and I was looking for exactly what you are. Google "TOR FX" , they are a money transfer/exchange company based in the UK. They appear to offer good exchange rates compared to standard banks and will complete the transfer free of charge. They give a better rate as they take only 1% off from the rate they get it at to the rate they offer the customer, where as the high street banks take as much as 4%. The minimum transfer is £2000. Hope this helps. Mike Hi All, We are moving out to Perth at the beginning of April but are looking to set up a bank account before then and transfer money over. If anyone has any advice on the best bank to do this with in terms of exchange rates and lowest transfer fees I'd be really grateful! Many thanks in advance and Happy New Year! Link to comment Share on other sites More sharing options...
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