How To Transfer Money From Bank Accounts In Australia

[Carlos]

Hello everyone.

First I would like to say thanks to the guys who have replied to my previous topics. This forum seems very friendly and helpful.

New question. Once you are there and want to access you a bank account in Australia to get money sent there how is that done? Can you have a bank account there on a tourist visa? Will you take a beating on the exchange rate?

Cheers,

Carlos

 

[BrettGC]

Hi Mate,

 

I just use Western Union direct to back transfers to my partner's account on the internet.  It's cheaper than Moneygram for transactions under 1000AUD and the exchange rate with WU is normally a couple of PHP better as well.  It's also much cheaper than the direct transfer service my bank here in Aust offers.  Doing this also saves you from being hit by the foreign currency conversion fee most banks charge you for using an ATM overseas.  The direct to bank goes in overnight but if you need the cash fast you can also do "money in minutes" to yourself on the web and pick it up almost instantly from any WU office, and there's a lot in PI.  As for having a bank account there on a tourist visa, I'm not sure.  My longest stay has only been 5 weeks so far so haven't investigated it yet.  I'll ask SAO :D.  When the time does come though I'll be using BPI (Bank of the Philippine Islands), they are everywhere. 

 

Brett

[Kiwi-Alan]

I find the best and mabey cheapest is to have a visa debit card, and just get out in 10,000 at a time, cost is $6 per transaction no problems at any ATM that accepts visa.

[Jollygoodfellow]

Hello everyone.

First I would like to say thanks to the guys who have replied to my previous topics. This forum seems very friendly and helpful.

New question. Once you are there and want to access you a bank account in Australia to get money sent there how is that done? Can you have a bank account there on a tourist visa? Will you take a beating on the exchange rate?

Cheers,

Carlos

 

You can use your own debit or credit card but they must have the visa or mastercard logo. There are fees at the ATM and normally fees from your own bank. Some people have managed to open an account while on a tourist visa but generally the answer is no.

 

Brett suggest WU. I suggest using Worldremit.  https://www.worldremit.com/en/home

 

 

WR Exchange Rate Australian Dollar = 39.13726560429 Philippines Peso

 

 

West union  Exchange rate: 1 Australian Dollar (AUD) = 39.0110504 Philippine Peso (PHP)

 

WU fees for $100 = $10.00

WR fees for $100=  $6.99

 

Now are you talking about small amounts or big amounts?

[Medic Mike]

Hi Mate,

 

I just use Western Union direct to back transfers to my partner's account on the internet.  It's cheaper than Moneygram for transactions under 1000AUD and the exchange rate with WU is normally a couple of PHP better as well.  It's also much cheaper than the direct transfer service my bank here in Aust offers.  Doing this also saves you from being hit by the foreign currency conversion fee most banks charge you for using an ATM overseas.  The direct to bank goes in overnight but if you need the cash fast you can also do "money in minutes" to yourself on the web and pick it up almost instantly from any WU office, and there's a lot in PI.  As for having a bank account there on a tourist visa, I'm not sure.  My longest stay has only been 5 weeks so far so haven't investigated it yet.  I'll ask SAO :D.  When the time does come though I'll be using BPI (Bank of the Philippine Islands), they are everywhere. 

 

Brett

I do the same, it is very handy with WU having the bank account option now at the bottom of the online form.

[BrettGC]

WR Exchange Rate Australian Dollar = 39.13726560429 Philippines Peso West union Exchange rate: 1 Australian Dollar (AUD) = 39.0110504 Philippine Peso (PHP) WU fees for $100 = $10.00 WR fees for $100= $6.99

 

Weird, I only ever pay $5 for amounts under $400 with WU.  But definitely going to investigate WorldRemit for amounts above $400, hadn't heard of them. Thanks for the tip JGF.

[Jollygoodfellow]

Weird, I only ever pay $5 for amounts under $400 with WU. 

 

Strange, anything over $50 is $10 fee for me but that is not depositing into a bank account but rather pick up at WU branch.

 

Edit

Yes I see westen union is cheaper for bank transfers.

Edited December 2, 2013 by Jollygoodfellow
added wee bit

[jpbago]

 

Weird, I only ever pay $5 for amounts under $400 with WU. 

 

Strange, anything over $50 is $10 fee for me but that is not depositing into a bank account but rather pick up at WU branch.

 

Edit

Yes I see westen union is cheaper for bank transfers.

 

 

In person, I pay $8.95 to send $1,000 next day delivery for pick up at WU or other outlets in PI. With the 12 hour time difference, if I sent it at 11:59 AM, in 2 minutes, it is next day in PI.

[Alby]

Why not use xoom.com? It only charges $ 5 USD for anything sent below $3000 USD (I think)?

You'd get it in seconds and it's over the web? I had used it several times and it worked flawlessly!

 

Alby.

[BradClark]

WU, xoom or one of those Visa travel cards linked to an Oz bank are the easiest ways. No need to make life more complicated then it needs to be.