What is the best way to transfer money from the UK to Australia while getting an excellent currency rate?
2006-09-19 09:47:14 · 11 answers · asked by Schmel 2 in Business & Finance ➔ Personal Finance
To confirm, this transfer will be from my bank account in the UK to my bank account in Australia.
2006-09-19 11:17:40 · update #1
By wire transfer through the banks.
You will need a swift account #. This is the number banks use for international transfers. You will also need the account number of the company or individual to which you are wiring the money. There is usually a wire fee (about 10.00 USD) for the transaction. Banks usually offer the best foreign exchange rates, though some vary thevarience is usually slight. So, unless you are wiring huge sums of money it should not be a substantial difference no matter which bank you use.
2006-09-19 10:37:34 · answer #1 · answered by NW_iq_140 2 · 0⤊ 0⤋
Wire transfers (know as Telegraphic Transfers in the UK) from your account to the recipient's account. You bank will charge some fees as will the recipient's bank. About 5 years ago, the fees used to total around £20 to £25 sterling but you usually got a better rate than most other methods of transfer as well as being the most secure.
2006-09-19 10:15:58 · answer #2 · answered by Penfold 6 · 0⤊ 0⤋
rate is one thing. processing charge is another. you need to check both.
traditionally speaking, banks have some of the best rates but you also have to keep in mind of the wire transfer fees on both sides. if you have a bank account in UK and the receiver has an account at Australia, it can be done.
2006-09-19 09:58:30 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I think the thing is the charge - I seem to think the charges and rates are more or less the same across banks. You could also try Money transfer services.
2006-09-22 02:39:25 · answer #4 · answered by scallywag 4 · 0⤊ 0⤋
It depends on whether or not you are doing a transaction with someone you know and can trust. If it's a stranger, then DO NOT UNDER ANY CIRCUMSTANCES USE WESTERN UNION.
If you know the other party, then your bank can do a straight transfer into the other party's account within a couple of days.
2006-09-19 09:58:27 · answer #5 · answered by Moofie's Mom 6 · 0⤊ 0⤋
Telegraphic transfer bank to bank
2006-09-19 09:57:46 · answer #6 · answered by Caro 4 · 0⤊ 0⤋
Go through a commercial bank and save some heart ache and financial problems.
2006-09-19 10:50:08 · answer #7 · answered by cool runings 3 · 0⤊ 0⤋
Transferwise, started by one of the guys from Skype, has by far the best rates and fees of anything I've seen. I tried xe.com and paypal, but Transferwise is by far the best. First transfer free with this link! http://transferwise.com/u/e7bcf
2014-01-19 07:55:42 · answer #8 · answered by bigak82 1 · 0⤊ 0⤋
Hey,
You could also try Paypal. It can be a bit confusing, and will take time to set up at first, but is a relatively easy way to send money to someone.
http://www.paypal.com
2006-09-19 09:51:47 · answer #9 · answered by SimonM 1 · 0⤊ 0⤋
western union
2006-09-19 09:48:52 · answer #10 · answered by Jenna 4 · 0⤊ 0⤋