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We have just migrated from Australia to the UK, and have put in an offer on a house. Does any one know the best way for us to transfer money for a deposit to the UK? Ordinary banks have woeful exchange rates. Has any one used an international exchange firm? Is there another, more Foolish, way?
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0Hi ACTed,
I'm not sure, but I am trying to do the other way round (moving from UK to Aus).
I've found the best thing for me to do is to open and account with HSBC in Australia. I already have an account in the UK with HSBC, so then moving money between those 2 accounts gives a good exchange rate.
I don't know if there is a limit on the amount you can transfer that way though.
So I guess my answer is to try speaking to your current bank if they are international, and could set you up and account in the UK.
Posted on 20 October 2008 |
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4It's a real problem, TMFNicki. I already have an HSBC account here in the UK, but the Brisbane Oz branch told me that each country is quite independent of any other HSBC branches (and advised me not to open one in Oz, just in the UK, as I wouldn't gain anything by it). They also don't offer a particularly good rate of exchange compared with dedicated firms such as Forex.
Posted on 20 October 2008 | Love 0 loves
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