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Bills holding me back

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  • 01-06-2010 6:59pm
    #1
    skipz
    Registered Users Posts: 671 ✭✭✭


    Just a question on sending money back from Australia. Iv just finished my apprenticeship in bricklaying, i lived in WA for nine years and hold both a Irish and Australian passport and have a job for me when i arrive. One thing holding me back, the credit union loan! As iv not worked in quite a while, rent a house and get feck all from the social iv fallen back a bit on my payments. Can i go to Australia and start earning and send money home to sort out and pay off my loan?


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    #2
    Mackman
    Registered Users Posts: 1,810 ✭✭✭Mackman


    Thats what im doing, ive got a loan with Bank of Ireland. I just send money back every now and then to pay it off. Works fine, internet banking is essential though. I dont know how the credit union does it though.


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    #3
    Doop
    Registered Users Posts: 1,470 ✭✭✭Doop


    All you need to do is have your Credit Union A/c set up on your online banking and you can put money in when ever you like, from your bank to the C.U.

    I wouldnt even bother talking to them about it.


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    #4
    watna
    Closed Accounts Posts: 10,367 ✭✭✭✭watna


    I also send money back to Ireland to pay off a loan. The payments are small (I renogotiated with the bank when I left) so I just put money aside with every paycheck and then send it back via online banking every 3 month or so.

    It's no big deal and as long as you get work in Aus you'll be fine.

    As an aside, a friend of mine from Ireland who is also living in NZ did tell me that if you tell the bank that you are living abroad you aren't charged the government stamp duty on your credit card. He didn't have to pay his once he changed his address.


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    #5
    skipz
    Registered Users Posts: 671 ✭✭✭skipz


    Thanks for all the info. Must set up online banking quick! Cheers


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    #6
    watna
    Closed Accounts Posts: 10,367 ✭✭✭✭watna


    skipz wrote: »
    Thanks for all the info. Must set up online banking quick! Cheers

    You will be charged for it though, don't forget. I get charged $25 every time I transfer to Ireland from my bank in NZ. It's just good to factor in to your budgeting.


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    #7
    jank
    Banned (with Prison Access) Posts: 13,018 ✭✭✭✭jank


    watna wrote: »

    As an aside, a friend of mine from Ireland who is also living in NZ did tell me that if you tell the bank that you are living abroad you aren't charged the government stamp duty on your credit card. He didn't have to pay his once he changed his address.

    What? Damm it, got stung for that. TWICE!


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    #8
    watna
    Closed Accounts Posts: 10,367 ✭✭✭✭watna


    jank wrote: »
    What? Damm it, got stung for that. TWICE!

    Sickening, isn't it?! :)

    He was with BOI so I'm not sure if the other banks would do the same but he definitely doesn't have to pay his anymore until he returns to Ireland.


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    #9
    Zambia
    Closed Accounts Posts: 7,333 ✭✭✭Zambia


    Is that the 45 yo yo charge yearly on each credit card?

    I remember when that came in robbing b*stards.

    Good tip Watna. Should be on a list of things to do Sticky.


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    #10
    skipz
    Registered Users Posts: 671 ✭✭✭skipz


    If i was to get a bank account set up in Australia, would this lower the cost? 25 bucks is a bit mad!


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    #11
    watna
    Closed Accounts Posts: 10,367 ✭✭✭✭watna


    skipz wrote: »
    If i was to get a bank account set up in Australia, would this lower the cost? 25 bucks is a bit mad!

    Well, it's my new zealand bank that charges me the $25 not my Irish bank (although sometimes they charge from their end too - mine don't).

    I'm pretty sure most banks will charge something similar. You can't send internationally for free unfortunately. You could ask all the banks what their fees will be for itnernational transfers before you sign up and pick the lowest one but I doubt you would get it for free.


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    #12
    mandrake04
    Registered Users Posts: 4,435 ✭✭✭mandrake04


    skipz wrote: »
    If i was to get a bank account set up in Australia, would this lower the cost? 25 bucks is a bit mad!

    Instead of doing a transfer every month just do a larger one every three months. that way you will save $50.


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    #13
    watna
    Closed Accounts Posts: 10,367 ✭✭✭✭watna


    mandrake04 wrote: »
    Instead of doing a transfer every month just do a larger one every three months. that way you will save $50.

    Yup, I do it every few months instead of once a month. Definitely saves money.


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    #14
    daftdave
    Registered Users Posts: 1,082 ✭✭✭daftdave


    what about setting up a paypal account linked to ur irish account and another linked to your oz/nz account , and swith money between them, wouldnt that bypass the bank charge ??


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    #15
    woolymammoth
    Registered Users Posts: 1,772 ✭✭✭woolymammoth


    skipz wrote: »
    Can i go to Australia and start earning and send money home to sort out and pay off my loan?
    Everybody does it, there's nothing wrong with it. It will cost ya though, so you best to do, as said already, to send more infrequently if you can. Just set it up online, say it for sustenance or some bullsh!t. It used to cost me $25AUD per transaction, plus Bank of Idiocracy always tacked on an extra €7 or something for fun. XE.com to keep an eye on the rates and pick your best time for sending, though the banks will never give you the market rates!


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