Hi everyone,
If I was to sell my property in Sydney and relocate to the UK, what is the best way to transfer the equity? I will be looking at tranferring $200,000+ so I don’t want to make a mistake with fees and exchange rates etc.
The ANZ tried to charge me $28 just for paying out my bike loan with my own money! A EFT for $28? Ouch! I would hate to hear what $200,000 would cost.
What do I need to look out for? Any tips?
Cheers.
I use http://www.ozforex.com.au for money shuffles between the UK and Australia. With that volume of money to move, you can call them and negotiate a better rate than that quoted on their website.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
by the way there will be no usage fee. how insulting to charge you a fee when they are creaming off commission of that kind of volume!
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Cool! Ozforex looks great.
There site says:
¹The mid-market rates shown in our exchange currency converter are neither “buy” rates nor “sell” rates. Mid-market rates are derived from mid-point between the buy and sell rates of large-value transactions in the global currency markets.
The buy or sell rate you would receive from OzForex would be close to the mid market rate but would include our margin that reflects the size of your transfer. The buy or sell rate OzForex offers will be better than your bank, guaranteed!!
OzForex does not guarantee the accuracy of the rate or currency calculations.
Please read the terms of use.
Please note that OzForex accepts transactions starting from A$2,000 or equivalent in your currency of choice. We charge A$15 (or equivalent) for transactions under $10,000. Transactions from $10,000 are fee free. We do not accept cash, cheques or bank drafts, payments by credit card or speculative trading.So they charge no fee for $200,000 just the exchange rate? ATM the rate on their site is 0.5795 GBP. Is that what I get or do they still get me somewhere along the line?
BTW how safe is it? I would hate to put $200,000 with them to find out I just made a nice donation to someone….
Hi Scotty,
We’ve used them before to bring cash out from the UK a few years ago (more thank $200k) when we were buying our house in Australia. We have also used them to send money the other way to (ie to the UK) more recently. They have always been very professional and helpful and we’ve been very happy with them.
Great. Thanks for that!
ozforex or hifx
I've also moved large volumes with them several times and they've been great. I suggest calling them to place your order rather than doing it on the website. This is because you are moving a big amount and therefore should ask them for a better rate.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
I'll state the obvious – you need a UK pounds account for the money to land in (eg a UK bank account). Easiest way to get one if you don't have one already is to do it through HSBC bank. Otherwise, change your address with your Aussie bank and ask them to send you a statement to the UK. Then use that to help with ID for opening a UK bank account.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
