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Transferring Money to Australia

  • 30-04-2006 8:47pm
    #1
    ashie
    Closed Accounts Posts: 159 ✭✭


    Hi,

    Will be immigrating to Australia by the end of the year? Anyone know who would be the best broker to transfer a large sum of money - heard good things about HIFX. Any ideas?


Comments

  • #2
    Victor
    Registered Users, Registered Users 2 Posts: 78,575 ✭✭✭✭Victor


    Just phone around the banks on the day and see who offers the best rate. Just be sure to tell them how much.


  • #3
    ashie
    Closed Accounts Posts: 159 ✭✭ashie


    Thanks Victor for that. Though from what I hear HIFX seem to offer best rate as far as transferring large amounts over. Anyone have first experience of doing this??? Thanks


  • #4
    VF10
    Closed Accounts Posts: 35 ✭VF10


    why australia? crap place, very over rated, just came back a while ago and I sorry to say A real backwater destination, dust, flys, spiders, snakes, drunk Oirish backpackers.


  • #5
    ashie
    Closed Accounts Posts: 159 ✭✭ashie


    Oooooooooooh, the begrudgery, i can smell it from here:rolleyes: :p


  • #6
    VF10
    Closed Accounts Posts: 35 ✭VF10


    actually it was a great place... the only downside is the potential inlaws being on the same side of the equator :) howya sis!!!!


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  • #7
    ashie
    Closed Accounts Posts: 159 ✭✭ashie


    :p:p


  • #8
    phoenix_nights
    Closed Accounts Posts: 230 ✭✭phoenix_nights


    ashie wrote:
    Hi,

    Will be immigrating to Australia by the end of the year? Anyone know who would be the best broker to transfer a large sum of money - heard good things about HIFX. Any ideas?

    Emmigrated to OZ back in 2001.(back a year) Great experience. Stay for at least 24 months to get the passport as then you can go back and forth as you please. I just set up an account over there and instructed my bank here to transfer the cash over. At the moment the exchange rate is good.


  • #9
    ashie
    Closed Accounts Posts: 159 ✭✭ashie


    Thanks for that Phoenix. When you say the rates are good, is it the best in a long time or middle of the road. Its just that I really want to transfer when they are great!!!!!!!! Makes all the difference when you are transferring a large sum. What would be considered a good rate? I have not done any research at all yet as we will not be moving for a while yet? Where were you based?? Thanks


  • #10
    phoenix_nights
    Closed Accounts Posts: 230 ✭✭phoenix_nights


    This site is good. http://www.x-rates.com/d/AUD/EUR/hist2006.html

    Handy graph. To mimimise your risk you can transfer in lots rather than in one go. Better to be wise than greedy. Even better. Wait till you get to oz and open a bank account etc.

    Was in Sydney. Stayed around Coogee and Paddington. Really nice country. Planning to go back in a couple of years.

    PM me if you want any info.


  • #11
    bringitdown
    Registered Users, Registered Users 2 Posts: 2,002 ✭✭✭bringitdown


    Credit card? - load it up and take it out as needed - not strictly above board but I transferred the best part of 6/7 grand that way. Plus they pay you for having money in the CC A/C


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  • #12
    SouperComputer
    Registered Users, Registered Users 2 Posts: 6,949 ✭✭✭SouperComputer


    Possibly the best way to do it is through www.xetrade.com

    Theres a bit involved in getting setup, but you generally get very good rates. I use it to transfer funds to the US.

    TBH im not sure if they cover OZ, but I would be pretty surprised if they didnt!


  • #13
    ashie
    Closed Accounts Posts: 159 ✭✭ashie


    Hi everyone, Thanks for the input. I will check out all those links. We are selling our house and the whole kit and kaboodle so we have made a BIG profit on our house. Anyone know anything about Davys Stockbrokers in town??


  • #14
    SouperComputer
    Registered Users, Registered Users 2 Posts: 6,949 ✭✭✭SouperComputer


    Anyone know anything about Davys Stockbrokers in town??

    from what perspective? Are you considerinf entering the stock market?


  • #15
    ashie
    Closed Accounts Posts: 159 ✭✭ashie


    God, absolutly not - would not have a clue:) . Just heard that someone used Davy to transfer their savings to Oz, at the time was not interested enough to ask questions but Boy, I should have listened!!


  • #16
    VF10
    Closed Accounts Posts: 35 ✭VF10


    Get a FX trading account with Delta Index of the like. If the rate goes to a high rate prior to you getting fluidity with your funds, then bet against the currency... e.g. if the FX has been avg 0.57-0.60 and it hits 0.62, then bet on it going down, if it goes up you win on your funds, if it goes down you win on your bet


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