Bills holding me back

skipz

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?

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.

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.

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.

skipz

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

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.

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!

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.

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.

skipz

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

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.

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.

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.

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 ??

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!