Australian Banks - where do you put your money?

wenzhel

@JClem Hi, ask ko lang nung nag-open kayo ng account sa NAB which option did you choose, i mean what type of account? Mas ok kc yung me atm...Thank you

hotshot

@wenzhel : sa NAB din ako nag-open ng account bago pumunta ng oz. NAB Classic ang inopen kong account. pero pagdating namin ng oz at pumunta sa NAB branch for verification, it turns out na dalawa ang inopen na account ng NAB: Classic and iSaver.

may ATM yung Classic account tapos yung iSaver ay online account lang talaga.

hanzyboy

same as hotshot nung una ko din dating sa NAB din ako nagbukas dahil sa no charges nila, since wala pa naman ako pumapasok na pera and sayang din kung mababawasan yun pera mo sa bank because of monthly fees.

hotshot

@hanzyboy : san bank ka na lumipat? 🙂

wenzhel

@hotshot ah ganon ba...isa lang nmn ang option dun sa NAB account opening pag mag-open ka before arriving to OZ...ala akong nakita na reference # nung matapos yung processing nung account application ko...thank you message lng then sabi e in 2 weeks time e send daw nila through email yung accnt #...ganon din ba sa inyo? before arriving ba sa OZ e nagdeposit na kayo ng pera nyo s accnt, pano through western Union b?

out of topic tong tanong ko, mahigpit ba ang OZ immigration sa pagdadala ng medicines...diabetic kc ako so i have to bring my maintenance with me..although yung stocks ko nmn e lagay ko sa check-in baggage ko...

hotshot

<blockquote rel="wenzhel">@hotshot ah ganon ba...isa lang nmn ang option dun sa NAB account opening pag mag-open ka before arriving to OZ...ala akong nakita na reference # nung matapos yung processing nung account application ko...thank you message lng then sabi e in 2 weeks time e send daw nila through email yung accnt #...ganon din ba sa inyo? before arriving ba sa OZ e nagdeposit na kayo ng pera nyo s accnt, pano through western Union b?

parang ganun din. pero mga after 2 days dumating na email nila with my account number information.

wenzhel

@hotshot bilis naman..sana ako din within the week e mag-email na cla...Tuesday kc ako ng apply e...plan ko kc ideposit na yung ibang cash para diko dala lahat...safe ba yung magdeposit ka kagad kahit ala ka pa jan sa OZ?

hotshot

@wenzhel : safe naman kasi wala naman makaka-withdraw ng pera sa account unless magpakita ka na sa branch nila for verification. 🙂

LokiJr

Pag nagbukas kayo ng account sa Pinas kunwari ANZ pero supposedly yung account na yun para sa pagmigrate mo sa Australia, aling deposit rate susundin? Yung sa Pinas o sa Australia?

hotshot

@LokiJr : ano po yung deposit rate? exchange rate ba?

TasBurrfoot

<blockquote rel="hotshot">@LokiJr : ano po yung deposit rate? exchange rate ba?</blockquote>

interest rate ata ang sinasabi ni bossing...

TasBurrfoot

<blockquote rel="LokiJr">Pag nagbukas kayo ng account sa Pinas kunwari ANZ pero supposedly yung account na yun para sa pagmigrate mo sa Australia, aling deposit rate susundin? Yung sa Pinas o sa Australia?</blockquote>

If that was the account opened in their Philippine Branch operation, interest rate to be followed are the rates published for the PH operations...

Likewise if that account was opened in their Australian Branches, the interest rates to be followed are the rates published for their AU operations.

LokiJr

@psychoboy, umm..yeah...I'm just making a slight distinction (bank's interest rate vs. country interest rate) hehe

Thanks! hehe So mukhang parang wala talagang advantage magbukas ng account habang nasa Pinas

wenzhel

@hotshot ah ok...initial plan ko kc e bumili ng traveler's cheque dito sa Dubai kaso ala ako makita dito kaya deposit ko na lang cguro 60% nung baon ko then handcarry ko na yun iba...ayoko lang kc magkaproblema pag nagdeposit ako konti na nga lang baon ko e mawawala pa kung di safe yung magdeposit sa NAB bank account..deposit ko yung pera by wire transfer through a local money exchange company here in Dubai...

nagdeposit ka rin ba prior arrival to OZ? How?

hotshot

<blockquote rel="wenzhel">@hotshot ah ok...initial plan ko kc e bumili ng traveler's cheque dito sa Dubai kaso ala ako makita dito kaya deposit ko na lang cguro 60% nung baon ko then handcarry ko na yun iba...ayoko lang kc magkaproblema pag nagdeposit ako konti na nga lang baon ko e mawawala pa kung di safe yung magdeposit sa NAB bank account..deposit ko yung pera by wire transfer through a local money exchange company here in Dubai...

nagdeposit ka rin ba prior arrival to OZ? How?</blockquote>

not me, technically. someone owed me money so pinadeposit ko na lang sa NAB account ko. hehehe

pero safe po yan. after mo mag-wire, pwede mo iemail yung assigned na NAB banker syo if magkano ang pumasok na money sa account mo. 🙂

TasBurrfoot

<blockquote rel="LokiJr">@psychoboy, umm..yeah...I'm just making a slight distinction (bank's interest rate vs. country interest rate) hehe

Thanks! hehe So mukhang parang wala talagang advantage magbukas ng account habang nasa Pinas</blockquote>

@LokiJr - actually may advantage boss; kasi kami we used to be SG based and below 0.05% ang interest rate there. So what we did was, we opened an onshore account with Commonwealth and remitted most of our savings there where it is earning 4.6% per annum... we did this prior to our move ha.

when we arrive in australia next month, we will just activate our account there and we can be able to access our monies deposited beforehand.

li_i_ren

@wenzhel just do bank to bank. Never use western union unless you can personally monitor saan papunta pera mu or you will be on the receiving end.

Mas better bank to bank. Exchange rate depende sa sending na bank. Kunti lng difference.

LokiJr

@psychoboy, hmm very interesting. so it's possible to open an account in Australia kahit wala ka pa dun? Would you need to show a visa?

TasBurrfoot

<blockquote rel="LokiJr">@psychoboy, hmm very interesting. so it's possible to open an account in Australia kahit wala ka pa dun? Would you need to show a visa?</blockquote>

a lot of people are doing this...

you show your visa upon arrival in order to activate your account - when you open initially from offshore, you cannot touch the money you have deposited. ang magagawa mo lang is magdagdag ng pera sa account na iyon.

li_i_ren

@LokiJr another option is open the account once you are here but before u leave pinas.. Leave instructions with your bank to wire ur money to ur account. U just need to sign some authorization letters to do this.

This way at least u can choose banks while here, see which one is nearest to u or has better offers. Also like me, i opted for the bank where our company deposits our salary and waived nila ung monthly fees. I still had money left in nz and pinas... After i opened my accounts here, i called and emailed an authorization letter to my previous banks and had the money transferred to my account in au. Sa pinas case, i already left instruction to the bank manager and signed some papers to close my account beforehand so all i needed was to provide them with the swift codes and account details.

It was in the next day as long as within the banking hours and weekdays.

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