Hi All

It looks like we will open a bank account with NAB and use Moneycorp for the large transfers, but when should we do these transfers?

Our concern is that although the NAB account can be setup from here in the UK it does not get activated untill we arrive, does this mean we will be unable to transfer money untill we arrive?

Even if we can transfer before we arrive is it safe as we have not yet activated the account with proof of ID etc...

thanks in advance..

 

Just to confirm, you can transfer money over to your NAB account ahead of your move.

Thanks

John

 

Hi as John as said you can pay money into your Aus account, you just cant withdraw or transfer out until its activated.
I would personally have everything ready to go and watch the exchange rate,,when its in working in your favor and is a good rate -send it.
Another option if you dont need it all straight away is to transfer whats necessary for your first few months and see if the rate rises for you before bringing the rest. Its a gamble as it could go either way but has worked for some.
Cal x

 

Thanks both! Do you know how quickly it gets transferred?

 

I think it may depend on who you use. When we transfer it averages a week .

Cal x

 

For your information, when sending money to Australia, when using Moneycorp, it will arrive within 2 days.

Thanks

John

 

Hi there, we opened an account with HSBC before we came and it was all waiting for us (cards etc) when we got here. We could have chosen to have our cards delivered to the uk if we wanted though...

We transfer money directly from uk bank to Australian online and it is in the account over here in seconds. We did what Cal suggested and just brought a few hundred dollars in cash with us and then have transfered in bits as and when we have needed it.

Lynne x

 

With it being the same bank here and there do you still get charged a fee to transfer? People rave about moneycorp and thier good rates, how does HSBC compare in your opinion?

Thanks again for your info!

 

Hi there, just sent you a message and my internet broke off before it posted (thats the worst thing here- internet is shocking, some areas dont have broadband - dial up only and so rely on pretty bad mobile coverage)

Anyway... my husband checks all rates etc and said HSBC are the same....

We have a premier account and they transfer for free but I think some accounts cost $20 per transfer. We have an online page which shows both uk and aust accounts and you can check a live exchange rate before you press 'confirm' so have chance to change your mind.

hope its helpful... we found the whole move a breeze and so like to pass on the stuff which made it easier for us....

good luck

Lynne x