should I transfer all my money in Aus?

Xine · February 2015

Im leaving in Feb 5, i have money in 2 bank account but i can't access it pag nasa AUS nako kasi wire transfer lang ang way ? should i transfer all my peso to aud?

rareking · February 2015

@Xine - gano kalaki ser? Mura ngayon ang AUD kaya suggestion ko siguro is to transfer all. sa pagkarinig ko, malaki interest sa Oz. magtira ka ng konting AUD sa pocket money pero the rest wire mo.

Analapit na ng Feb5, haha.. may panahon ka pa ba magwire transfer?

Share ko lang ---- Nakapaglipat ako ng pera early december, online pag open ng account sa NAB then wire transfer lang kasi wala pa ako sa Oz. For the past 2 months kumikita na sya ng AUD50/month sa isaver nila... not too bad na at nagswesweldo na syang magisa, hehehe...

BTW, total fees lahat lahat na binayaran ko - sending bank, receiving bank, 3rd party, forex lossess = 46AUD + 0.1% amount, not too bad na din kasi wala naman akong ibang choices dito sa current location ko...

God bless sa "damove".

Andoy31 · February 2015

if you're leaving on feb 5- go ahead and transfer na, since it'll usually take 2-3 days for the money to be transferred mahirap na kung magkaproblema ka sa Telegraphic transfer and mawalan ka ng pera dun...

currency fluctuations will only have such impact if medyo malaki ang itatransfer mo

wizardofOz · February 2015

@rareking i hope you dont mind, i hope you mind... lol

magkano yung na-xfer mo na kumita ng $50 in span of 2 months?

Nag-trial transfer pa lang kasi ako ng 100 AUD sinubukan ko lang, 300 THB (~12 AUD) ang kinaltas ng bank ko sa BKK, then 10 AUD yung kinuha ng NAB

wizardofOz · February 2015

@Andoy31 OT lang.. Valentine's pa talaga yung flight nyo pa-Melbourne ah hehe kita ko lang sa Timeline

TasBurrfoot · February 2015

@rareking i hope you dont mind, i hope you mind... lol

magkano yung na-xfer mo na kumita ng $50 in span of 2 months?

Nag-trial transfer pa lang kasi ako ng 100 AUD sinubukan ko lang, 300 THB (~12 AUD) ang kinaltas ng bank ko sa BKK, then 10 AUD yung kinuha ng NAB

You can derive it...

50 (2 month) x 6 = $300 annual

$300 divide by 3.5% (interest rate) = roughly mga $8500

Xine · February 2015

mga 850k pera ko dito eh bdo and bpi walang access sa net na pwedeng mag send sa mga bank sa AU kaya di ko magagalaw ung pera ko unless bumalik ako which is in 1 year and 6 months.

Xine · February 2015

Nice thanks sa lahat ng advice i might transfer na un bukas sa bank ng bf ko wala pa kasi ako bank dun. May limit po ba ang wire transfer? ok lang ba ma zero bank ko dito after mag transfer?
sobrang baba nga ng aud ngaun di naman siguro baba sa 30 ang AUD

Andoy31 · February 2015

@Andoy31 OT lang.. Valentine's pa talaga yung flight nyo pa-Melbourne ah hehe kita ko lang sa Timeline

date kme ni misis sa eroplano

Nice thanks sa lahat ng advice i might transfer na un bukas sa bank ng bf ko wala pa kasi ako bank dun. May limit po ba ang wire transfer? ok lang ba ma zero bank ko dito after mag transfer?
sobrang baba nga ng aud ngaun di naman siguro baba sa 30 ang AUD

parang wala nman atang limit :P

wizardofOz · February 2015

Nice thanks sa lahat ng advice i might transfer na un bukas sa bank ng bf ko wala pa kasi ako bank dun. May limit po ba ang wire transfer? ok lang ba ma zero bank ko dito after mag transfer?
sobrang baba nga ng aud ngaun di naman siguro baba sa 30 ang AUD

May limit sya per day.. depende sa Bank mo...

Like sa bank ko sa Thailand, 25,000 US Dollars or equivalent ang Limit Per Day

Itawag mo na lang sa branch mo to confirm

rareking · February 2015

@Xine - mukhang di ka na pala aabot kasi pag nagbukas ka ng bagong account online sa any Oz banks kailangan din nila a few days to confirm your details bago nila award ka ng account... hmmm... dala ka na lang muna cash.. less than 10K AUD tsaka mo na pagaralan kung pano transfer yung iba... gahol ka na sa oras pre palagay ko...

Nice thanks sa lahat ng advice i might transfer na un bukas sa bank ng bf ko wala pa kasi ako bank dun. May limit po ba ang wire transfer? ok lang ba ma zero bank ko dito after mag transfer?
sobrang baba nga ng aud ngaun di naman siguro baba sa 30 ang AUD

rareking · February 2015

@wizardofOz - almost tama siguro yung calculation tasburrfoot although 50+ per month yun hindi 50 per 2 months... mataas na din yung interest na yun palagay ko compared sa interest dito sa current location ko or sa pinas... pagdating pala ng June na byahe namin kumita na sya ng umaatikabong 300+! hehe..

Suggestion ko pag nagwire ka ulit, dun mo ilagay sa isaver account hindi dun sa classic kasi mas mataas dun ang kita...

kitakits..

@rareking i hope you dont mind, i hope you mind... lol

magkano yung na-xfer mo na kumita ng $50 in span of 2 months?

Nag-trial transfer pa lang kasi ako ng 100 AUD sinubukan ko lang, 300 THB (~12 AUD) ang kinaltas ng bank ko sa BKK, then 10 AUD yung kinuha ng NAB

wizardofOz · February 2015

@rareking thanks sa info bro, napapaisip na ko na i-transfer yung almost lahat ng savings ko dito thailand, kasi its just sitting around hindi ko naman ramdam na tumutubo..

rareking · February 2015

@wizardofOz - pagaralan mo muna interest rates dyan sa TH.. pero hula ko mataas pa din Oz.. kung confirmed na tsaka mo lipat.. God bless wiz.

@rareking thanks sa info bro, napapaisip na ko na i-transfer yung almost lahat ng savings ko dito thailand, kasi its just sitting around hindi ko naman ramdam na tumutubo..

myoshke · February 2015

anong bank ka nag open ng account?

@rareking thanks sa info bro, napapaisip na ko na i-transfer yung almost lahat ng savings ko dito thailand, kasi its just sitting around hindi ko naman ramdam na tumutubo..

wizardofOz · February 2015

@myoshke NAB (National Australia Bank)... Open ka na rin ng regular Savings saka iSaver accounts for Migrant

http://www.nab.com.au/personal/help-and-guidance/moving-to-australia

Xine · February 2015

na transfer ko na mas malaki ang rate pag buyin 35.6 per AUD pero ok lang na transfer ko na lahat ng peso ko Thank you guys ha last minute na transfer ko na sa account ng BF ko

Bukas nasa AUS na ko open na lang ako account lahat ba ng bank sa AUS same interest rate?

TotoyOZresident · February 2015

Maganda ang banking system ng Australia. Karamihan dito online banking ang transaction to pay bills at iba pa.

Xine · February 2015

same po ba lahat ng bank sa interest rate or sa NAB lang?

vhoythoy · February 2015

kung ako sayo transfer mo na halos lahat, magiwan ka lang cguro mga 5-10% cguro. lakas ng piso ngaun 34 nalang AUD

vhoythoy · February 2015

nanjan ka na pala hindi ako nagbackread haha

Xine · February 2015

oo nga natransfer ko na medyo malaki pa rin pag bilhin sa pinas 35.6 ung rate nung pag transfer pero not bad na rin

myoshke · February 2015

cge cge explore ko yan, maraming salamat!

@myoshke NAB (National Australia Bank)... Open ka na rin ng regular Savings saka iSaver accounts for Migrant

http://www.nab.com.au/personal/help-and-guidance/moving-to-australia

Xine · March 2015

i just got my interest not sure if weekly i got 17$ and they took 8 dollar tax!!!

manofsteel · March 2015

@Xine what bank is it? what's the interest rate they're giving you?

Xine · March 2015

@manofsteel commonwealth 3.2% per annum

manofsteel · March 2015

@Xine thanks!

IslanderndCity · April 2015

Now na mayroon ng pera sa Au bank accounts niyo kahit wala pa kayong work/sahod sa Au, did you give to your Au bank your Au TFN?

Envy · April 2015

Now na mayroon ng pera sa Au bank accounts niyo kahit wala pa kayong work/sahod sa Au, did you give to your Au bank your Au TFN?

Yes, the bank will automatically deduct any tax applicable for the interest earned, I dont want the hassle of declaring my 'other' income once I filed my ITR. That's what I did.

If you are keen to details or a tax savvy, then you have an option not to disclose your TFN.

IslanderndCity · May 2015

Now na mayroon ng pera sa Au bank accounts niyo kahit wala pa kayong work/sahod sa Au, did you give to your Au bank your Au TFN?
Yes, the bank will automatically deduct any tax applicable for the interest earned, I dont want the hassle of declaring my 'other' income once I filed my ITR. That's what I did.

If you are keen to details or a tax savvy, then you have an option not to disclose your TFN.

What do u mean u dont want the hassle declaring ur other income? How it relates sa usapang TFN po?

Envy · May 2015

@IslanderndCity

if you give your TFN to the bank, they will automatically deduct any tax applicable for the interest earned on your account. Pag lodge mo ng ITR, normally may pre filled data na ang Tax Office, they will already see these details.
If you have your details sorted out, and you have dutifully informed that Tax Office of your earnings and losses, you can lodge an ITR using a mobile app. Maybe 6 or 7 click of a button then you are all done with your ITR.

if you dont give your TFN to the bank, you have a lawful obligation to declare ALL interest you have earned in your bank account. Then you cant use the mobile app and need to lodge using a proper ITR form. Although it is still available online, you now need to go thru 38 sections of the form with approx 100 pages.