Get useful expat articles, health and financial news, social media recommendations and more in your inbox each month - free!

We respect your privacy - we don't spam and you can unsubscribe at any time.

±Compare Expat Providers

Expat Health Insurance Quotes

Foreign Currency Exchange Quotes

International Moving Quotes

We're very social! Follow Expat Focus on Facebook, Twitter, Pinterest and Google+

Expat Focus Facebook PageExpat Focus on TwitterExpat Focus Pinterest PageExpat Focus Google+ Page

Notify me when new content is added about a country

±Expat Focus Partners

Transfering money from Australia to EU...

Discuss expat financial issues here, e.g. investments, stocks, shares, banking etc.
Subforums: Currency Transfer, Credit and Debt

Reply to topicReply to topic
Forum FAQSearchView unanswered posts
Transfering money from Australia to EU...

Post Posted: Thu May 01, 2008 6:21 pm

Hey all

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).

Two questions:

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 .


Re: Transfering money from Australia to EU...

Post Posted: Tue May 06, 2008 4:40 pm

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.


Re: Transfering money from Australia to EU...

Post Posted: Wed May 07, 2008 6:13 am

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


Re: Transfering money from Australia to EU...

Post Posted: Thu May 08, 2008 4:55 pm


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.


Re: Transfering money from Australia to EU...

Post Posted: Thu May 08, 2008 6:04 pm

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? Evil or Very Mad Evil or Very Mad


Expat Focus
Web: www.expatfocus.com
Twitter: twitter.com/ExpatFocus
Facebook: www.facebook.com/expatfocus


Expat Focus Administrator
Page 1 of 1

Expat Health Insurance Partners

Aetna International

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.

AXA - Global Healthcare

As the global healthcare specialists for AXA, the world’s number one insurance brand, we can help you get fast access to expert medical care, whenever and wherever you need it. All our plans include evacuation and repatriation, a second medical opinion service and extra support from a dedicated case manager if you’re diagnosed with cancer. You’ll also have 24/7 support from our caring multilingual team - we’ll always remember you’re a person, not a case number.

Bupa Global

Bupa Global is one of the world’s largest international health insurers. We offer direct access to over 1.2m medical providers worldwide, and we settle directly with them so you don’t have to pay up front for your treatment. We provide access to leading specialists without the need to see your family doctor first and ensure that you have the same level of cover wherever you might be, home or away.

Cigna International

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.