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Moving to UK

3K views 14 replies 7 participants last post by  Maverick1984 
#1 ·
Towards the end of the year I have to move to UK. I'm an Aussie marrying a man in UK. I need to take money with me...rather a lot. Does anyone know the finer points of transferring money safely and what's involved? I've read that all you have to do is declare it. Is that right?? I'm applying for an ancestry visa. I don't know how much I'll really need or how long I have to keep it after I get there. We're buying a house. We have so many things to find out. The whole thing is starting to become a maze to me. So much could go wrong. Anyone done this before??? HEEEELP!
 
#2 ·
Hi there,

The money transfer situation can be a little confusing and you will need to approach it differently depending on if you have a UK bank account or not. I recommend the site WORKgateways, as they have all the information you just asked for. Here's a link (though I'm new here so they might not let me post it)

International money transfer - Send money order online - Online money transfer

The whole process can be daunting, but don't worry, many people have done it before you. One thing is for sure, it's a lot easier now that you can open bank accounts and transfer money online.

As for the amount of cash you need when you arrive, people generally agree on 1600GPD, but really it's a matter of being able to manage without resorting to public funds. More is always better, and I'm not sure how long you'll need to keep a balance above that.

Good luck!
 
#3 · (Edited)
When you say you want to bring "a lot" of money with you, surely you don't intend to carry enough cash on the plane to purchase the home... Bring a few thousand pounds in cash, and leave the rest in an international bank/brokerage account. You will be able to access the funds from the UK and withdraw/transfer as needed.

We maintain accounts in the States and Mexico (where we're from) and are able to access those funds in the UK (where we live) for major purchases. We also have a UK account for day-to-day transactions.
 
#4 ·
Hiya the best way to transfer money to uk from aus is Currency Exchange, Foreign Exchange & Money Transfers | HiFX Pty Ltd
is easy and its free. i transfer money all the time and i use hifx for it
last week on the 4th of may i transfered $61000 and i got £1.54 rate and the money was in my uk bank account on the 6th that was the first time i got my money in 3 days but it takes 4 to 5 working days.
its free and you get good rate.

GOOD LUCK WITH YOUR MOVE :)
 
#8 · (Edited)
Ok, so i just now learned from a friend that a company called RationalFX who he uses to make transfers with has just announced that they will be doing something called a 'Happy Hour'.

The Happy Hour will apparently be kicking off on the 24th May which is next Tuesday and will be doing currency conversions of USD/EUR & GBP/EUR AT WHOLESALE RATES!

I asked him to send me a link in order to confirm the validity of this event, and he said that i will have to join their official Facebook page in order to see the password which we will need to quote in order to be eligible for the offer.

You can get to their facebook page by keying in the facebook web address and then adding /rationalfx at the end of it.

You will have to sign up as a user however before making use of their services.

I would get in on this fast as no other service that i know of is doing this.
 
#12 ·
You should be fine.

Be sure to like their facebook page as it's the only way to get hold of the password that you'll need to quote on the day when it takes place. One of the reps for the company mentioned this as it will be the only way to take advantage of the service.

Happy hour kicks off at 4PM UK time for 1 hour. I would imagine the phone lines will be going crazy next Tuesday lol!
 
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