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I am finding it very complex trying to speak to anyone about starting a bank account in Melbourne Australia prior to my departure from the UK.
I would appreciate an email address of a dedicated bank so that I could get help ,advice direction in this matter.
The other matter is of bank charges once the money is transferred ,banks seem to charge for any of their service provided.
I have dual citizenship and retire next year in Oct of next year.I am seriously thinking of selling and moving back to Melbourne as I am now a widow.

peter

i am an australian citizen currently residing in the uk and would like to take advantage of the current interest rates i oz before finally retiring there. can i do this ?

Ben

Opened my account through Westpac online, got a phone call from someone in their London office about 15 mins after pressing the submit button in case I had any questions. They also recommend using a broker (HIFX) and not the bank to do foreign currency transactions. Setting this up was really easy – I even transferred the cash before my Australian bank account was open since the rate was good at the time – you instruct the broker to buy the AUD, transfer to them the requied GBP, then you can enter the destination bank account within 30 days soon… Read more »

pozz

Have just returned from Australia and note their bank savings rates
are much better that the UK. Can I as a UK citizen open an account
there? I’m thinking of opening a Westpac 5 year deposit account offering an 8% p.a. interest return.
Thanks

Ronald

I’ve read that Citibank have a special ‘backpackers account’. It’s especially designed for people on working holiday visas (e.g. me!) so might be useful to someone out there.

Ken

I’ve just opened an account with ANZ and want to tell you that it was extremely easy to do so. All I had to do was fill out the form and post it to their London office. The form’s available on their website but I had several copies of it already as they hand them out at every emigration show. The account I’ve chosen (V2 Plus) requires a minimum initial deposit of $5,000 (but that then means there are no monthly account charges and it pays interest). Although it is described as an “initial deposit” ANZ are pragmatic and so… Read more »

I work for NAB (National Australia Bank) and we have a dedicated Migrant Banking solution for people planning the move to Australia. With NAB you can open an account 12 months before you are planning to get here and you receive a dedicated migrant banker to assist you in Australia irrespective of the amount of money you are bringing with you. There is no charge to set up the account and fees are waived until you arrive in Australia and meet your new bank manager. You can apply online at the website listed and you will receive your account in… Read more »

Cameron

Does anyone have any information on opening a bank account in Australia from the UK if I have no intention of moving there.
I have family members there that I would like to give access to money without having to keep making transfers to them from here.

I live in London and would like to simply “stock pile” some reserves so that when they do need the money it is easily transferrable from my Aus account into theirs via online banking.

Thanks

Cameron

Frank

I tried to open an account with HSBC Australia from the UK. However I was told in an HSBC London branch that this service would cost me £150.00!

Will therefore go with an Australian bank.

Marilyn

I used HSBC to open my Australian account. I had an HSBC daily checking account, high yield savings account, and several credit cards, all through American branches. I simply walked into my local HSBC branch, explained that I was moving to Australia in April and needed to open an Account with HSBC in Melbourne (they have offices in other capital cities too). They did all the paperwork for me, I made the initial transfer through OzForex (gave me a better rate than HSBC) and then received a letter at my US address confirming the account had been set up. A… Read more »

Chani

Mark

As an Aussie living in the UK I am trying to find a way to transfer money from my UK bank account to my Australian bank account for free or low cost. It is currently costing me £19.50 per transaction (ouch!). As the banking system here is totally un-user friendly and despite having a permanent job, I cannot get a credit card in the UK (they tell me it’s because I have no credit history in the UK) and so keep having to use my Australian one – and send back repayments every month. Any suggestions?

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