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Your money and when you first arrive

MikeMacca · 2012-02-06 19:54:02

i'll have about 5k euros when i arrive in perth in 4 weeks. it will be in an ulsterbank account to which i can draw on it using a maestro card my question would be what is the best advice regarding your money. how much do you incur in bank charges when you are withdrawing money from an atm in aus whats the best advice when…

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06-02-2012 8:54pm

#1

MikeMacca

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i'll have about 5k euros when i arrive in perth in 4 weeks. it will be in an ulsterbank account to which i can draw on it using a maestro card
my question would be what is the best advice regarding your money. how much do you incur in bank charges when you are withdrawing money from an atm in aus
whats the best advice when you land. do you set up an account straight away etc?

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#2 06-02-2012 9:03pm
Zambia

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Set one up now via the big 4's London offices.

Transfer it all in one go via Currencyfair.com

Arrive in Oz go to a Branch get a Eftpos Card to access the cash.

Only use your banks ATM's as others charge 2 dollars a pop.

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#3 06-02-2012 10:08pm
MikeMacca

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Zambia wrote: »

Set one up now via the big 4's London offices.

Transfer it all in one go via Currencyfair.com

Arrive in Oz go to a Branch get a Eftpos Card to access the cash.

Only use your banks ATM's as others charge 2 dollars a pop.

thanks. is there an idiots guide to this. this forum is full of faq's and helpful advice but i feel this part of someones trip is criminally underlooked on here

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#4 06-02-2012 10:23pm
Slunk

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There is a thread somewhere in this forum. Helped me do it. Just search or as mentioned go go anz or westpac banks website and go from there.

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#5 06-02-2012 11:08pm
hussey

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I can't find the thread - but I think I'll add these links to the FAQ

so adding from what Zambia said, you can open theses accounts from Ireland.

NAB - http://www.nab.com.au/wps/wcm/connect/nab/nab/home/Personal_Finance/15/23/
ANZ - http://www.movingtoaustralia.anz.com/english/index.html
CommBank - http://www.commbank.com.au/personal/international/moving-to-australia/
Westpac - http://movingtoaustralia.westpac.com.au/

You can transfer money in but not out until you arrive and show your passport.

I think it's fair to say currencyfair is the most popular way of transferring money - a lot cheaper than bank to bank. I have used this personally and found it great.

You can find a thread here: http://www.boards.ie/vbulletin/showthread.php?p=76408971 and http://www.boards.ie/vbulletin/showthread.php?p=76899105

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#6 07-02-2012 12:16pm
gazmc18

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hussey wrote: »

I can't find the thread - but I think I'll add these links to the FAQ

so adding from what Zambia said, you can open theses accounts from Ireland.

NAB - http://www.nab.com.au/wps/wcm/connect/nab/nab/home/Personal_Finance/15/23/
ANZ - http://www.movingtoaustralia.anz.com/english/index.html
CommBank - http://www.commbank.com.au/personal/international/moving-to-australia/
Westpac - http://movingtoaustralia.westpac.com.au/

You can transfer money in but not out until you arrive and show your passport.

I think it's fair to say currencyfair is the most popular way of transferring money - a lot cheaper than bank to bank. I have used this personally and found it great.

You can find a thread here: http://www.boards.ie/vbulletin/showthread.php?p=76408971 and http://www.boards.ie/vbulletin/showthread.php?p=76899105

Would it not be cheaper to just get a bank draft in dollars,bring it with you them open a bank account when you arrive and it will clear in a few days?

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#7 07-02-2012 9:44pm
hussey

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The exchange rate they charge you is pretty poor, and to cash an Irish cheque in Australia, they can charge up to $40 (well they did for me 2 years ago, it might be cheaper now)

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#8 08-02-2012 4:17am
loueeeeeez

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Hi, Im here in Australia. i advise you to open a NAB (National Australia Bank) account, you can do this online and its free, no charges ever! you can do this the minute you arrive in Australia. It costs about 15euro to transfer money over. Really advise you not to use your irish card here as its pretty expensive per transaction!

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#9 08-02-2012 4:36am
hussey

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loueeeeeez wrote: »

It costs about 15euro to transfer money over. Really advise you not to use your irish card here as its pretty expensive per transaction!

It's costs 3Euro to use currency fair

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#10 08-02-2012 5:14pm
MikeMacca

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with currency fair, what details do you need to transfer money? sort codes,ibans etc?

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#11 08-02-2012 9:11pm
hussey

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MikeMacca wrote: »

with currency fair, what details do you need to transfer money? sort codes,ibans etc?

Yeah those two. Possibly just iBan

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#12 09-02-2012 1:34pm
quacky

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Does anyone know offhand which of the big 4 Australian banks offer online banking for free? Was going to to sign up to NAB as suggested above but it looks like their e account with internet banking has charges.

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#13 09-02-2012 9:54pm
hussey

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quacky wrote: »

Does anyone know offhand which of the big 4 Australian banks offer online banking for free? Was going to to sign up to NAB as suggested above but it looks like their e account with internet banking has charges.

Most of them have a thing were if you deposit at least X amount (I can find out later) per month then you get free banking, I.e. wages etc.
Comm bank were ages ago offering new customers fee-free ... Not sure if this still case

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#14 10-02-2012 4:22am
loueeeeeez

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quacky wrote: »

Does anyone know offhand which of the big 4 Australian banks offer online banking for free? Was going to to sign up to NAB as suggested above but it looks like their e account with internet banking has charges.

I bank with NAB here in Aus and they dont have any charges! I think you might need to pay to transfer money from overseas but other than that thats all you pay!

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#15 18-05-2012 2:39pm
Duckie88

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I've tested the water with CF and transferred money from my Irish account to my CF account.
Here's the thing - when I buy my dollars and deposit them into my brand new NAB account, how can I get confirmation that the money was received by NAB when I've yet to confirm my identity/account with my branch manager i.e. no internet banking yet to check my balance?
I've e-mailed the Oz branch manager I'm to meet with RE this conundrum, to see if he can help me out - no response yet, but it is Friday evening.

Love the idea of CurrencyFair, dislike this twinge of fear...

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#16 18-05-2012 4:13pm
sponge_bob

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lol i was just wondering the same thing after i sent $8k to my new nab a/c yesterday.
guess i will know next thursday morning when i land there whether it made it there or not:D

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#17 18-05-2012 4:53pm
Duckie88

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Yup! I'm guessing all will be fine spongebob, you will have your 8k Thursday morning see I'm not the most confident stockbroker, need some confirmation that the funds have been deposited safely!

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#18 18-05-2012 7:12pm
sponge_bob

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ahh i'd say it will, i checked and rechecked the a/c no's before i sent it.

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#19 19-05-2012 2:11pm
Xavi6

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gazmc18 wrote: »

Would it not be cheaper to just get a bank draft in dollars,bring it with you them open a bank account when you arrive and it will clear in a few days?

30 days actually

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#20 09-06-2012 9:11pm
Erinclarekelly

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hussey wrote: »

I can't find the thread - but I think I'll add these links to the FAQ

so adding from what Zambia said, you can open theses accounts from Ireland.

NAB - http://www.nab.com.au/wps/wcm/connect/nab/nab/home/Personal_Finance/15/23/
ANZ - http://www.movingtoaustralia.anz.com/english/index.html
CommBank - http://www.commbank.com.au/personal/international/moving-to-australia/
Westpac - http://movingtoaustralia.westpac.com.au/

You can transfer money in but not out until you arrive and show your passport.

I think it's fair to say currencyfair is the most popular way of transferring money - a lot cheaper than bank to bank. I have used this personally and found it great.

You can find a thread here: http://www.boards.ie/vbulletin/showthread.php?p=76408971 and http://www.boards.ie/vbulletin/showthread.php?p=76899105

in your opinion who is best to open with regarding fees etc??? is there a particular bank that would be best for different regions or anything??

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