Hi I have a bit of cash > 10K that I need to transfer to my Australian account.
Any recommendation on the best way and cheapest way to do this?
The banks seem to charge a lot.
Thanks in advance :-)
TOPIC
Transfering fund to Aus
Discussion started on 16 Apr 2014
ID: #76
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dkle2
COMMUNITY MEMBER
dkle2
Posted on 13 Apr 2014, 13:55
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Wooll
COMMUNITY MEMBER
Wooll
Posted on 13 Apr 2014, 13:57
We always use OzForex.
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quoll
COMMUNITY MEMBER
quoll
Posted on 13 Apr 2014, 13:57
+1!
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denzil73
COMMUNITY MEMBER
denzil73
Posted on 13 Apr 2014, 13:58
If from the UK then try TransferWise or XE.com. Check them all out as they make their profits skimming of the actual exchange rate and then you have swift transaction fees in some cases. Last time I did Uk to Oz no swift fee but Oz to UK I always get the Swift fee, 25unit of the originating currency.
Also, check out Customs as I'm pretty sure 10k and over gets some fee charged to it. if so then do it as 2 5K transactions
Also, check out Customs as I'm pretty sure 10k and over gets some fee charged to it. if so then do it as 2 5K transactions
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denzil73
COMMUNITY MEMBER
denzil73
Posted on 13 Apr 2014, 13:58
Financial advisor and I gave the other 2 exchangers as options. Jeez 
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Kiwipaul
COMMUNITY MEMBER
Kiwipaul
Posted on 13 Apr 2014, 13:58
+1
If it is over $A10,000 their is no transfer fee and a good exchange rate
If it is over $A10,000 their is no transfer fee and a good exchange rate
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Kiwipaul
COMMUNITY MEMBER
Kiwipaul
Posted on 13 Apr 2014, 13:58
Rubbish you then just get hit with 2 transfer fees (if using OzForex as it's below the $A10,000 for free transfers).
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Wooll
COMMUNITY MEMBER
Wooll
Posted on 13 Apr 2014, 13:59
Where on earth did you get that from?
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Wooll
COMMUNITY MEMBER
Wooll
Posted on 13 Apr 2014, 13:59
Get another financial advisor.
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skinnygeorge
COMMUNITY MEMBER
skinnygeorge
Posted on 13 Apr 2014, 14:00
I got my bank Lloyds to do mine in `08 and I got a pretty good rate. but have used Ozforex before, Still good. The A$10,000 thing is cash brought in as far as I could tell. There was no penalty for 100,000+