How to transfer funds ! Please help

billymac22
New Member



Joined: 04 Jul 2007
Posts: 8
Location: Halifax

Posted: Thu Oct 11, 2007 10:40 am

 

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I am just wondering if anyone knows how to transfer funds from a Australian bank to a Canadian bank. I am moving to Melbourne next week, but i have a loan to pay bank at TD Bank in Canada just wondering if anyone knows how I will be able to transfer funds from a bank in AUs to my Canadian bank to repay it? Any advice is welcomed

Cheers

Bill

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comet555
Super Member



Joined: 28 Jun 2007
Posts: 197
Location: Brisbane, QLD, Australia

Posted: Thu Oct 11, 2007 8:48 pm

 

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I would definitely recommend using a Currency exchange service like Ozforex. I've moved money around using the bank and also using Ozforex. Ozforex had a WAY better exchange rate than the bank and it was actually a little faster too. We transferred a large sum of money and saved thousands. I compared their rate to the banks and they were approx 2cents better which is a lot when moving money around.

http://www.ozforex.com.au/

It's pretty easy to get set up. I think you have to print out an agreement and return it to them. You also need to send a copy of your passport and current bank statement. To do all this I scanned it and uploaded it onto their website, after I had registered of course.

If you register on the website they'll tell you what you need to do to get set up. They're also very helpful on the phone.

To give you an idea of how it works, is you talk to them and they give you the account info where you need to transfer the money and then where the money is going in Canada. Then you send them the money in Australia, and Ozforex will put the Canadian money into your bank account.

I swear, I don't work for them I just did a lot of research because we were transferring a lot of money from Canada to Oz and I wanted to make sure it was safe.

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comet555
Super Member



Joined: 28 Jun 2007
Posts: 197
Location: Brisbane, QLD, Australia

Posted: Thu Oct 11, 2007 8:53 pm

 

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Oh yah, you could have a read here:

http://britishexpats.com/forum/showthread.php?t...highlight=Ozforex

http://britishexpats.com/forum/showthread.php?t...highlight=Ozforex

The second link mentions smaller transfers. So if you're doing a small amount of money each time then you'll probably have to use Tranzfers instead:

http://www.tranzfers.com/

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billymac22
New Member



Joined: 04 Jul 2007
Posts: 8
Location: Halifax

Posted: Tue Oct 16, 2007 10:42 am

 

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Great thanks so much

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canuckinsyd
New Member



Joined: 18 Oct 2007
Posts: 2
Location: Sydney

Posted: Thu Oct 18, 2007 2:20 am

 

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I have been in Sydney for almost 2 years now and I transfer funds regularly to my Royal Bank account back home. I have a Commonwealth Bank account and through net bank, you can transfer funds to your account directly for $22 per transfer. I don't know if the other banks offer this though, but CBA definitely does.

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