±JOIN OUR NEWSLETTER
Get expat health and financial news, interesting expat articles, social media recommendations and more in your inbox each month - free!
±Compare Expat Providers
±Expat Focus Partners
±Latest Financial Articles
· Expat Focus International Finance Update 23 March 2017
· Expat Focus International Finance Update 14 March 2017
· Do Expats Really Need An Offshore Bank Account?
· American Living Abroad? Here's How To File Your Tax Return
· Where Do The World's Highest Paid Expats Live?
· Expat Focus Financial Update 08 March 2017
· 5 Reasons to Move to the Glittering Shores of Cyprus
· Expat Focus Financial Update 01 March 2017
· Expat Focus Financial Update 22 February 2017
±Latest Health Articles
· Why Expat Retirees Should Never Ignore Health Insurance
· Moving Abroad? Read Our Essential Health Checklist
· Expat Focus International Healthcare Update 16 March 2017
· Coming To The UK? Here's What You Need To Know About The National Health Service
· How Can Telephone Counselling Help Expats Dealing With Loneliness Abroad?
· Expat Focus International Healthcare Update 02 March 2017
· Expat Focus International Healthcare Update 27 February 2017
· Could Moving Abroad Be The Key To Improving Your Health?
· Expat Focus International Healthcare Update 03 February 2017
Transfering money from Australia to EU...
Subforums: Currency Transfer, Credit and Debt
Living in Australia at present but am planning to buy a holiday home in Ireland as i have just sold a property here.
I have an Irish Bank account (and an Australian bank account).
1) What would be the most efficient way to transfer a large amount from my Australian account to my irish account.
2) is there any possible way for me to predict the best time to do the transfer with regard to currency,s as im transferring quite a bit- Even the best day of the week to do it. Anything- as currency really is dead money!
I have Heard of XE.com but you have to check it constantly for exchange rates. is there any web site that will alert email me when currency reaches a preset high level or something.
Any direction greatly appreciated .
Oz to Euro can be done with a commercial, you have one or two in oz. UK brokers will help. There will be no need to move from oz to stlg then euro, regardless of what the bank or broker tells you. you can use there currency accounts.
after 25 years as an fx trader i can safely say there is not a best time of the week to exchange, i hear this from a few clients and can only think it is a hook for sales people to use.
a good broker will advise you on a daily basis, advise on forwards or spot. At the end of the day if the price fits with you then do it.
Thanks on your reply
What do you mean by a commercial as such?
Commercial bank is it.. I am with ANZ in oz who are the largest
i also found out that XE.com will email you a free sheet every day listing world currencys againts your chosen home currency,
Why cant the bank,s just transfer between themselfs electronically.
Im hearing you on the currency its all a gamble!
Oz dollar is strong at the moment, but only against the us not the Euro unfortunatly
commercial meaning a non bank provider, I think there is one on this site.
They are more flexible in there approach to banks and offer a more 1:1 service.
XE com provide a converter service only. Non bank providers will also offer this along with regular updates for your currency. They also provide a link into a dealer/broker that you can talk to, unless you are a top tier customer banks would not provide this.
When money is transferred for delivery banks and brokers add a margin to the interbank rates. All a commercial broker will do is get inside the bank rate, that is provide a better rate for you than a bank. Banks also charge a fee whereas non bank providers generally do not.
At the end of the day money is transferred electronically in the same way for non banks and banks. Non bank providers make money on the difference in exchange rates, banks run a fee driven business.
Why,,,,why does it take 3 days to transfer money from my uk account to my daughters uk account. Banks are like insurers, they do what they do because they can and we cannot live our lives without them.
Oz Euro levels are trading the same as 9 years ago. If the price suits you then trade it!
Dont forget XE quote interbank levels, not deliverable levels. Whenever you ask anyone for a price or level always make it very clear you want the deliverable level and not the screen or interbank level.
commercial meaning a non bank provider, I think there is one on this site
That's correct, the enquiry form can be found here.
beerhunter's correct in his assessment of such brokers' services and without wanting to hijack this thread solely to promote our own partner, I will say that their one to one customer care is probably the best I've seen from any financial services company.
As for banks, well, where do you start?
- Expat Focus Administrator
Share and Like this topic to get more replies
Expat Health Insurance Partners
Our award-winning expatriate business provides health benefits to more than 650,000 members worldwide. In addition, we have helped develop world-class health systems for governments, corporations and providers around the world. We want to be the global leader in delivering world-class health solutions, making quality health care more accessible and empowering people to live healthier lives.
At Bupa we have been helping individuals and families live longer, healthier, happier lives for over 60 years. We are trusted by expats in 190 different countries and have links with healthcare organisations throughout the world. So whether you're moving abroad for a change of career or a change of scene, with our international private health insurance you will always be in safe hands.
Cigna has worked in international health insurance for more than 30 years. Today, Cigna has over 71 million customer relationships around the world. Looking after them is an international workforce of 31,000 people, plus a network of over 1 million hospitals, physicians, clinics and health and wellness specialists worldwide, meaning you have easy access to treatment.