Hello All,

I have a question for all those that have recently emigrated.

Can I ask how you survived financially when you first arrived in Australia?

The reason for the question is that I have arranged in advanced to have the majority of my savings transferred over a few weeks after I arrive so as to give me time to set-up a new bank account, etc.

However, I am not sure what would be the best way to draw money until the transfer has taken place.

I currently have both a debit and credit card with my current UK bank. They have told me that should I use these cards whilst in Australia, I would be liable of fees of $2.50 for each ATM cash withdrawal plus the rate of exchange for my debit card and 2.75% of the cash amount plus rate of exchange when using my credit card!!!!

Consequently, can anyone recommend any better methods for drawing cash until I can start paying my new salary into my new Australian Bank account?

The only other option suggested to me was to raise a Bankers Draft whilst still in the UK and pay this money into my new Australian Bank Account once it has been set-up. However, the idea of carrying a large sum of money around in the form of the bankers draft until then worries me for obvious reasons.

Can anyone suggest any better solutions??

Thanks,

Chorlton

Chorlton

It might not be v practical but if you open a Nationwide account here they don't charge for withdrwls abroad and the exchange rate is same as all the others. We used this in Oz last time fine. You can withdraw up to £300 a day.
jux

G'day

Yup, I think a Nationwide account is the way to go. No transaction fees for using ATM's and very good exchange rates.

Although we now live in Perth we keep our Nationwide accounts for our UK money matters. With Internet banking and free ATM withdrawals it works out well.

Bob in Bull Creek
Mortgage Broker

Thanks to all for the comments.

Unfortunately, I fly out in just over 2 weeks, so I now won't have time to open an account with the Nationwide. :-(

Thanks anyway....

quote:

Originally posted by Chorlton:
Thanks to all for the comments.

Unfortunately, I fly out in just over 2 weeks, so I now won't have time to open an account with the Nationwide. :-(

Thanks anyway....

Ah, well then you have no choice but to give ME all your money when I'm back in the UK next week and I'll put it in my nationwide account.

Tempting Offer........ ;-)