Money Transfer to Oz | ExpatWoman.com
 

Money Transfer to Oz

7
Posts
EW NEWBIE
Latest post on 07 June 2011 - 19:06

As a newbie to AD - I'd be interested to best way, with best rate to telex money to Oz.
I get paid in US$ and obviously will need to covert to AUS$ to send over very month.
I have joined HSBC here in AD and hold a Suncorp account in Oz.
I'm a bit dubious about using banks as sometimes the rates they offer arn't too flash, but then again some of the "street exchangers" look at bit dodgy!!
With Aussie Dollar so strong at moment I need every help I can get!!!
Many thanks.

7
Posts
EW NEWBIE
Latest post on 08 June 2011 - 20:17
Many thanks SJ.
309
Posts
EW EXPLORER
Latest post on 07 June 2011 - 20:53
When the rate has been good (now that is stretching the memory!) and have transferred a reasonable amount - enough to make me nervous back in Aus - I have normally gone into the branch and ensured that there is no-one at the counter with me watching. I then ask the teller to place it in an envelope for me and then I hand-bag the envelope and head straight to the exchange place. Whilst crime is on the rise according to the papers, I find AD quite a safe place and have never had a problem with anyone following me from a bank or anything like that. Take a male with you if you are not comfortable. Also you can write a cheque but with HSBC you have to write a cheque to yourself (don't ask!) first, pay bank charges on the cheque and then take it to the exchange and you then do the transaction. Easier just to do cash... Also another Aussie on here the other day posted about www.xe.com for money transfer home. I normally use this site for currency conversion but not for sending money. Might be worth checking out as apparently it works well.
7
Posts
EW NEWBIE
Latest post on 07 June 2011 - 19:49
Thanks SJ. Is it not risky to carry large sums of cash across or is there another way (telex/cheque etc). In our case, I would be carrying across US$ to change over. I was looking at Al Ahalia on Hamdan Street. They look quite good and seemed as competitive as any.
309
Posts
EW EXPLORER
Latest post on 07 June 2011 - 19:29
Despite having accounts with HSBC, we don't transfer through them as the rate is not very good. We normally withdraw our money and head to the bigger street changers along Hamdan Street or in the malls. The rate is normally better and if you do monthly transfers or large transfers with them and build up a relationship they tend to offer a slighter better than advertised rate. They also give you proper receipts etc so fear not, the money is fine to transfer back to Aus.