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Money Transfers....please help

Guest johnboywalton13

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Guest johnboywalton13

Hi Guys and Gals

Ive just had my visa approved last week and now have to think about transferring some money.

I currently bank with Natwest in the uk and have opened an account with westpac in Aus.

What is the normal process of transferring funds,and cheap fees if possible.

Any help on this will be greatly appreciated.


Thanks in advance

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Guest steened



I have recently moved over, I set up a moneycorp account which has been really easy to use,

and doesn't take long for the money to transfer across


hope this helps

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What ever you don't use any internal bank oversea transfer options, they'll charge you to have the money leave the account, the bank at the other side will charge you to recieve it and you get a really poor exchange rate.

I use XE.com which is effectively free is you do EFT instead of wire transfers. It takes 5 to 10 days for the money to appear at the other end. I would recommend xe.com for transfers under $10000 (~6000 GBP). Once you get over that amount the 3rd decimal place starts to have a noticable impact. I would reommended going for HiFX or someone like that as they keep a second by second watch and should get you the best deal. The longer you can leave the money with them the better the deal should be.


Check out http://www.timesonline.co.uk/tol/money/reader_guides/article3964271.ece


Hope that helps :)

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We are going to use moneycorp to tansfer money in to our NAB bank account. We have chosen Moneycorp because they do not charge for transfers to NAB but as I will be transferring a couple of thousand dollars per month back to the UK they will not charge me for this as NAB are also part of the banking group that own the Yorkshire bank and the Clydesdale bank so our transfer fee will be minimal as it is all banking within the same group.


Halo financial aer another transfer company which are just as good I suppose it depends on what you want from them and how many times you are going to use them.


We originally opened bank accounts with ANZ and was going to do our transfer with Halo until we found out about Moneycorps relationship with NAB and NAB's relationship with our UK banks.


Suppose what I am saying is do your research in to what suits your needs.

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We used Hifx who did charge but were very good. You log an exchange rate with them for example 1.7 and IF (lol) and when it reaches that point they automatically buy the amount of dollars that you asked for. Worked well for us.

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