Are you transferring money to Australia?
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Transferring money is something that everyone moving to Australia has to do.
From experience, I know that it can be costly, slow and not always secure.
But it doesn’t have to be, in fact, just the opposite can be true.
This is why I’m very happy to be a partner of OFX and am able to pass on a special promotion just to SMG readers.
That’s right, whether you are transferring money from home to Australia or from Australia back home to stay up on bills, it’s FREE.
Not only that but you can lock in your rate of exchange for larger sums of money.
Most expats do this for that first transfer to Australia because it is usually a large lump sum.
You can also set up monthly transfers if you need to stay up on bills like your mortgage or school loan payments back home.
I personally have set up a monthly transfer so that I won’t ever fall behind on my school loan payments while living in Australia.
Not Ready to Transfer Money to Australia Right Now?
That’s fine. You can sign up today, just three easy steps, and get your account ready for when you are.
Or sign up later if you want, just remember to click through to OFX from SMG to get the free transfer offer.
Remember, you can open your Australian bank account 12 months before you arrive in Australia.
It’s super easy to do and will take you only 10 minutes online. Seriously, it will be the easiest part of your move to Sydney.
In fact, I highly recommend you open your bank account in Australia and transfer money before you leave home.
Most expats wait until they are present in Australia to do this and find that it causes more stress than it’s worth as it can take over a week to set up your bank account in Sydney, get your bank cards, and finally, get access to your funds.
This is the time most expats don’t have when first landing in Australia.
It also will put a delay on finding a new home in Sydney especially if you don’t have access to money for the deposit on your first apartment in Sydney.
Australian Dollar News
Another thing that you are going to start doing a lot of is watching the currency market.
Seriously, it’s the expat addiction that no one tells you about.
The thing is it’s a complete waste of energy if you’re not actively looking to transfer money.
You probably will still check the exchange rates on a weekly basis but the best way to stay up-to-date without it becoming an obsession is to subscribe to OFX Rate Alerts when you setup your account.
Let’s be honest, the only reason you’re checking the exchange rate is because if it’s in your favour, to the point where you can’t ignore it, then you’ll do something about it.
Below is the latest on how the Australian Dollar is currently doing in case you’re wondering or thinking about transferring some funds.