A has shared with us how much it cost us to migrate to Oz. Now it's time for us to begin transferring our money to Australia, given the decent exchange rates... While our PR is still pending thanks to my medical, we have assessed that it is worthwhile to transfer at least some of our money over for now.
Setting up your Australian bank account
|My approximate expression when faced with all the options. Though I am far less handsome...|
Best Bank in Singapore to transfer from?
So, how does one transfer the money?This is where I have to say that, "If you have to ask..."
I really won't know how to help you. But do leave a comment if this makes you feel very outraged or cheated. :p
I've found all the internet banking services (from DBS, Citibank, UOB, Stanchart, NAB) to be quite user-friendly. So it's just a matter of getting Internet Banking services set up via your bank's website, then following the instructions. In fact I think DBS's ibanking is the least user-friendly of all those I've tried, due to the ever-changing, and very abundant functions. But given the competitive rates, I have no complaints. "Least" is relative, it just feels less intuitive, but hasn't given me any problems I couldn't overcome thus far
Good for visiting friendsIf you have friends you trust in the country you are visiting, and you are changing more than a few hundred bucks, it may make sense to change just a bit of foreign currency and transfer the rest of your budget to them via internet banking. The rates DBS offers are about 1c off the Internet exchange rates, better than any local money changer I have seen, at least for the Australian dollar.
So if you are coming to visit us in future and don't want to carry so much cash, you know what to do! Don't be shy ;).