Hi Karen,
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Originally Posted by SGKG102
Do we need to put a certain amount away in the account each month to keep it up and running or can we chose how much?
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The maintenance fee varies depending on how much you have in the account.
Quote:
Originally Posted by SGKG102
Is there a stipulation as to how long we have the account running before we have to arive in Oz like with Westpac?
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I couldn't find one. We opened the account in a few years before we arrived here but we did that because we bought an investment property here.
Quote:
Originally Posted by SGKG102
How do we go about setting up an online account with the bank you have mentioned? Does this work by transferring funds from our UK account to an Oz account via Standing Order or Direct Debit?
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It was set up for us by a mortgage broker but I don't see why it can't be done online. The bank we are with is
St George Bank. Take a look and see if it's appropriate since it was set up for us. When we were in the UK we actually had to go into our UK bank branch to transfer money since that branch didn't have international bank transfers online.
Using St George we have transferred money back to the UK and to other overseas countries without any issue, and it's all online. They have savings accounts as well as the usual cheque accounts. You don't tend to earn much interest in the cheque accounts, so if you are transferring a lump sum you'll want it transferred to a savings account so that it can gain interest for you.
St George is also known as Bank SA in South Australia.
Hope that helps,
Karen