Financial regulations

[Guy]

Jow
Dare i say the name CITIBANK, that is who lloyds use and i just pop into there branch heer in the city and pay my visa card that i have with Lloyds.
I guess that may be worth looking into, the other is open a CBA account, i think you have to go into there office in London.
Even better choice is the HSBC and use there cirrus card to access your funds

[johnc]

Jow,

You are going to wear a charge either way, converting Sterling to $Aud will incur a fee as will using credit cards. There are also cash cards you can load up in the UK and convert them over there and use in our hole in the wall banking here. If you convert more than you need then you will incur a fee again when you convert back doubling up by accident if you like. I'd be inclined to bring some cash, look at the cash style cards and use Visa or similar then you just get done over in three different ways, and a bit of variety is good for the soul so I'm told.

John.

[mkb]

Jow,

Having just done the move in reverse (Aus to UK) try this website; it's all you need http://www.ozforex.com.au/

[jow104]

So we are heading for travellers cheques then either a bank or a friend.

I will try an Australian bank in London (on the telephone).

Thanks all for the time.

Makes you think though doesn't it . per $10000 holiday money @ 2.75% = $275 charge plus exchange rate somewhere along the line.

[echnidna]

I wonder what the costs would be if you used Paypal?

[Greg Q]

I wonder what the costs would be if you used Paypal?

Exorbitant.

[ubeaut]

We have a VISA card attached to our account that only uses our money (has no credit attached to it) we can use it overseas with no extra charge and no loss of funds due to the money changers.

Pauline has used it in the UK we have both used it in US and other family members have used theirs in a number of other countries. All you need to do is make sure there are sufficient funds in your account.

Cost us less to do it this way than it did to change AU$ into US or UK and then back again. You buy at the worst figure and sell at the worst figure then most banks will slug you a fee on top of that.

Hope this is of some help.

Cheers - Neil

[Greg Q]

Sounds good. Who's that with, if you don't mind me asking?

[jow104]

Thanks Neil, another avenue I shall explore.
Like all things nothing seems free though. Take the money out of a savings account for 6 months @ 5% per ann. means a loss of 2 1/2% for those 6 months
I have heard of these type of c.c.accounts in the USA but never seen any blurb in the UK.

[Sturdee]

We have a VISA card attached to our account that only uses our money (has no credit attached to it) we can use it overseas with no extra charge and no loss of funds due to the money changers.

My daughter has a similar Visa card through the Police Credit Union. No annual fees but it uses your own money. If no money in the account then the transaction is denied.

I believe the ANZ has started one as well but they charge $ 5 per month ( ? ) for such card, which is more than their annual charge for a credit card. Must make sense to them but I fail to see the wisdom of paying more for using your own money rather than theirs.:confused:


Peter.

[Termite]

I've had one with St George for 2 years now.

[mkb]

We have a VISA card attached to our account that only uses our money (has no credit attached to it) we can use it overseas with no extra charge and no loss of funds due to the money changers.

Jow, If you are with LloydsTSB then this is just a DEBIT CARD with VISA facilities, I've got one & use it in this manner when in Europe, I still think your best bet is the www.ozforex.com.au web site, as they can arrange for money transfers $10,000 minimum I think & an Australian Bank Account.

You might also try www.ing.com.au for an internet account that pays resoanable interest

HTH Mark

[jow104]

All this information from woodworkers is remarkable

Thanks again

[bsrlee]

ING and HSBC both have a direct Australian prescence - HSBC have actual bricks-and-motar branches, ING are internet access & transfer money to an external account.

American Express are another possibility, apart from Travellers Cheques (most banks here charge $10-$20 to cash Travellers Cheques now - money grubbers).

Another possibility is to open an account with an Australian Credit Union then access the money via EFTPOS at the cashier in the local Supermarket for running funds - you can usually get $200 per transaction, just buy a packet of biscuits or a drink & get cash out, no extra charges from the Credit Union.

[echnidna]

Forget American Express, not widely accepted.
The only cards to consider are Visa or Mastercard.