Transferring money from the UK

PurpleHippo on 24/12/2013 - 18:17

Hi all,

I'm in Melbourne, and Dad is in London. He's wanting to send a largish sum of money from the UK to Australia. I was hoping if anyone might be able to recommend me a cheap and easy method for doing this? There's no real rush in getting this done.

Don't know if this is possible, but I've got a Citibank account (based in Singapore). I was wondering if I could ask Dad to transfer the money into Citibank UK, and then I can retrieve it over here. Anyone know if this can be done? Otherwise, I would welcome alternative methods.

Cheers all, and Merry Christmas.

Financial

Comments

Conka on 24/12/2013 - 21:25
A few years ago, I used to regularly send money from the UK to Oz.

Used to send between $5 - $10K AUD.

2 ways I did it:
1. Transfer by Swift. You need your bank SWIFT code and the BSB/Account number. Your dad would rock into his regular bank and ask them to do a transfer.

Use a credit card (i.e. I would deposit GBP into someone's card over here and they would withdraw the cash from their bank). Might be useful for a 28 Degrees card? - no international transaction fee. Give them a call and see what they say, perhaps?

There might be other ways…

I suggest you look into the laws (ATO and customs) for bringing money into AU

I hope this helps!
conka
meroveus on 24/12/2013 - 23:13

Just get your dad to buy some bitcoins and send it to your wallet.
Then you can cash out using these guys: https://www.btradeaustralia.com/
ians1949 on 25/12/2013 - 09:12

Tranzfers - good exchange rates, easy to set up…
plowry1977 on 25/12/2013 - 12:06

Check out currencyfair. It's an exchange which puts you in contacts with others wanting to exchange. You get great rates close to exchange rate on TV, rather than useless rates by banks etc. Only $4 fee. Both parties exchange in their local currency, so no bank fees either.
Can't recommend it enough

Transferring money from the UK

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