# Transferring money to Australia



## anashin (May 5, 2017)

When you relocated, how did you go about transferring your money/savings to Aus? What kind of method worked best for you without huge shortfall due to the exchange rate?


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## JandE (Jul 17, 2015)

anashin said:


> When you relocated, how did you go about transferring your money/savings to Aus? What kind of method worked best for you without huge shortfall due to the exchange rate?


Use one of the major FX currency transfer services such as HIFX, Currency Online, etc.

Do not use direct bank to bank services unless it is an urgent transfer, as their fees and conversion charges can be very high.

I lost about $1,000 in combined bank fees and low FX rates when I was sent a sum direct bank to bank, compared to the rate I would have received from the above options.

You do need a bank account set up in Australia for this. I often suggest NAB as they have been very good with no account fees, and flexible account opening.


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