Hi folks,

I've just moved out to Oz but have left the majority of my savings in the UK. With exchange rates looking quite volatile I'm considering using a currency exchange company as opposed to my bank to transfer my savings across at the best rate.

Does anyone have experience of using an exchange company (e.g. HiFx) that they could relay, or could perhaps recommend a company to use?

Any thoughts on this issue would be much appreciated.

I used OzForex (www.ozforex.com.au). They were super friendly to work with and explained everything and got me set up with an account in just a few minutes. I send them my US dollars and they deposited AU dollars into my Australian account. They don't charge any fees if you transfer more than AU$2,000 and the more you transfer, the better the rate you get.

I highly recommend them and will be using them for all my exchange needs.

Cheers

Thanks Lady M, really appreciate your feedback. I'll check them out now!

We've only just set up an account with Ozforex to transfer the balance of funds. I thought they would be a bit offish as it's only relatively small amounts but wife says very helpful over the phone and talked her through it all. Wish we'd used them for the big lump rather than the bank.

Hi there , I used Hifx and found that they were quick, helpful and at the time marginally cheaper to use than other companies.

Since then though I am using the Commonwealth Bank of Australia, a bit complicated initially, but I saved even more money

Best of luck

Terry

Thanks for all replies. I've spoken with HiFx and OZFOREX and they both seem helpful. I'm just now trying to get over that trust hurdle of committing to transfer most of my savings...

Thanks guys.

Hiya

We used HIFX, and fixed a rate before we have sold our house. Altought looking at it currently, think I would wait a while, and rent in Australia until the prices get better. I have a contact in Sydney who works for HIFX, take a look at the links on the livingdownunder dvd website. He is a great guy and looking to improve his HFIX business

Good luck

www.ozforex.com.au are good because its all internet based, and they will call you to confirm the deal if its over a certain amount.

If you've got a UK internet bank account, then you set up the deal with ozforex, transfer the money via internet to their account at barclays UK, and then they transfer it to your nominated OZ account. No hassle, did a dozen deals with them.

I recommend OzForex. I found them easy to work with and being internet based you can monitor the rates and jump when you feel the best rate is on offer.
They will call you by phone after you have set the rate to confirm.
I had certain reservations about trusting them with £500,000 of my hard earned cash but it all went exactly to plan. Took under 48 hours from me paying them in pounds the UK to their UK Bank to Dollars arriving in my Oz account.

Hello all.....Based on your comments, I registered with OzForex....very professional and responsive...assuring me there are 'no worries'...

On the other end, I have queried a number of Aussie banks about "domestic direct credit" to account, and they insist that is type of transaction is 'international', therefore a fee is attached. Ozforex advised me in no uncertain terms that they do 'domestic transfer' in AUD, and it should be free.

Has anybody had any luck with any of the Aussie banks in this regard, that is, direct transfer with no fees. I really don't want to pay $12 per transfer.

Thanks,
Rick
Danville, CA, USA
Off to Sydney, Aug. 4