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How did you bring in your money to OZ?

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Comments

  • BryanBryan North Ryde
    Posts: 53Member
    Joined: Jun 13, 2012
    Reply to @psychoboy:
    Do you mean USD to AUD direct sir? kasi pag dito sa pinas dadaan pa sa peso eh.

    God is Good!

  • TasBurrfootTasBurrfoot Osaka
    Posts: 4,336Member
    Joined: Feb 24, 2011
    Reply to @psychoboy:
    Do you mean USD to AUD direct sir? kasi pag dito sa pinas dadaan pa sa peso eh.
    Yup USD to AUD - sa Australia na ito gagawin if you want this route...

    Yeah, all FX done in Pinas has to be converted into PHP - mangyayari, Sell USD and BUY PHP then SELL PHP and BUY AUD.

    Each transaction you will lose at approximately 2.5% - ouch!!

    Primary Applicant: Wife
    Accountant (General): 221111

    04 Aug 2012 - IELTS (Academic Module)
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  • BryanBryan North Ryde
    Posts: 53Member
    Joined: Jun 13, 2012
    okies, i guess dun nalang kami magpapalit.

    God is Good!

  • freelancer_babefreelancer_babe Quezon City
    Posts: 37Member
    Joined: Aug 06, 2012
    edited August 2012
    A very common advice I've read is to keep all the other extra money in a Philippine bank account that comes with ATM card that works on overseas ATMs. For example BPI Express Teller ATMs can be used to withdraw funds in any Cirrus ATM worldwide.

    Once you are outside the country you can easily withdraw that extra amount via those overseas ATMs where your card network is connected with.

    So it's still worth keeping a Philippine bank account even if you have decided to permanently move overseas.

    Should you decide to do this, inform the bank that you intend to withdraw such funds overseas, some ATM cards are, by default, disabled for international use for security.

    Alternatively, you might want to use a debit card with Mastercard or VISA logos with high cash loading limits such as the Unionbank EON. Just ask the bank to verify if their cards can be used overseas.
  • TasBurrfootTasBurrfoot Osaka
    Posts: 4,336Member
    Joined: Feb 24, 2011
    A very common advice I've read is to keep all the other extra money in a Philippine bank account that comes with ATM card that works on overseas ATMs. For example BPI Express Teller ATMs can be used to withdraw funds in any Cirrus ATM worldwide.

    Once you are outside the country you can easily withdraw that extra amount via those overseas ATMs where your card network is connected with.

    So it's still worth keeping a Philippine bank account even if you have decided to permanently move overseas.

    Should you decide to do this, inform the bank that you intend to withdraw such funds overseas, some ATM cards are, by default, disabled for international use for security.

    Alternatively, you might want to use a debit card with Mastercard or VISA logos with high cash loading limits such as the Unionbank EON. Just ask the bank to verify if their cards can be used overseas.
    This is okey however I see some problems to this as well: (1) max limit of withdrawal of most ATM is between 10K to 20K per day; meaning less than 500AUD per day; (2) every transaction there is a corresponding international fee of around a maximum of Php 250 per withdrawal and (3) FX rates of banks may not be too competitive...

    :)

    Primary Applicant: Wife
    Accountant (General): 221111

    04 Aug 2012 - IELTS (Academic Module)
    07 Aug 2012 - IELTS (Academic Module) Speaking Part
    17 Aug 2012 - IELTS Results (L: 8.5 R: 8.5 W: 7.0 S: 7.5 OBS: 8.0)
    24 Aug 2012 - CPAA Submitted (docs mailed same day via SG EMS)
    25 Sep 2012 - Received +Skills Assessment from CPAA
    25 Sep 2012 - Lodged EOI Application with 70pts
    30 Sep 2012 - Invited by DIAC to apply for 189 Visa
    01 Oct 2012 - Submitted 189 Visa Application
    20 Oct 2012 - Medical Examinations
    23 Oct 2012 - CO Assigned; Team 7 - SA
    05 Nov 2012 - Submitted SG PCC and NBI Clearance
    06 Nov 2012 - Visa Granted (IED: 23/10/2013)
    03 Apr 2013 - Flight to MEL
    03 Jun 2013 - started work
    12 Jun 2013 - wife started work
    15 Jun 2016 - applied for citizenship
    29 Jul 2016 - citizenship examination
    20 Oct 2016 - Aussie, Aussie, Aussie Oi Oi Oi!!

  • freelancer_babefreelancer_babe Quezon City
    Posts: 37Member
    Joined: Aug 06, 2012
    edited August 2012
    @psychoboy,

    It's true the fees and exchange rates can't be avoided. At least it is an option and we're not trying to do something against the law.

    I think you misunderstood me. I am referring to withdrawing money in Australia from a Philippine bank account, not the other way around. The charges you have mentioned is pretty much true for Philippine ATMs.

    I don't know also if wire transfers and Western Union money transfers are cheaper options than carrying an ATM/debit card. I think the charges for these kind of transfers are no better than carrying an ATM.
  • macaraeg_mjmacaraeg_mj Sydney
    Posts: 23Member
    Joined: Apr 25, 2011
    aside from declaring that you have more than 10k in cash would there be any corresponding taxes or duties for bringing in cash more than the allowed 10k?
  • TasBurrfootTasBurrfoot Osaka
    Posts: 4,336Member
    Joined: Feb 24, 2011
    @psychoboy,

    It's true the fees and exchange rates can't be avoided. At least it is an option and we're not trying to do something against the law.

    I think you misunderstood me. I am referring to withdrawing money in Australia from a Philippine bank account, not the other way around. The charges you have mentioned is pretty much true for Philippine ATMs.

    I don't know also if wire transfers and Western Union money transfers are cheaper options than carrying an ATM/debit card. I think the charges for these kind of transfers are no better than carrying an ATM.
    Yup I meant withdrawing money in Australia from a Philippine Bank Account... Since there is a limit in the amount you can withdraw per day (check your bank on this as the amount may vary) - when converted to AUD, it would amount to less than A$500. :)

    Primary Applicant: Wife
    Accountant (General): 221111

    04 Aug 2012 - IELTS (Academic Module)
    07 Aug 2012 - IELTS (Academic Module) Speaking Part
    17 Aug 2012 - IELTS Results (L: 8.5 R: 8.5 W: 7.0 S: 7.5 OBS: 8.0)
    24 Aug 2012 - CPAA Submitted (docs mailed same day via SG EMS)
    25 Sep 2012 - Received +Skills Assessment from CPAA
    25 Sep 2012 - Lodged EOI Application with 70pts
    30 Sep 2012 - Invited by DIAC to apply for 189 Visa
    01 Oct 2012 - Submitted 189 Visa Application
    20 Oct 2012 - Medical Examinations
    23 Oct 2012 - CO Assigned; Team 7 - SA
    05 Nov 2012 - Submitted SG PCC and NBI Clearance
    06 Nov 2012 - Visa Granted (IED: 23/10/2013)
    03 Apr 2013 - Flight to MEL
    03 Jun 2013 - started work
    12 Jun 2013 - wife started work
    15 Jun 2016 - applied for citizenship
    29 Jul 2016 - citizenship examination
    20 Oct 2016 - Aussie, Aussie, Aussie Oi Oi Oi!!

  • freelancer_babefreelancer_babe Quezon City
    Posts: 37Member
    Joined: Aug 06, 2012
    edited August 2012
    Reply to @psychoboy: ah, you mean the daily withdrawal limit of a Philippine bank account and not the ATM limit?

    It's actually easy to increase the maximum daily withdrawal limit - just talk and make a request to the bank manager to increase the amount. I've seen people increase their daily withdrawal limits even up to P100k from the usual P10k to P20k.

    but then if the Australian ATMs limit each withdrawal transaction to P10k to P20k in AUD, then it's really something to think about.
  • JClemJClem Melbourne
    Posts: 528Member
    Joined: Jan 08, 2011
    Who among here have tried to use any of the following Australian banks in transferring their money to Australia? These banks allow opening of bank accounts prior to your arrival there. We're thinking of using this option. Please share your experience. Thanks! :)

    National Australia Bank
    Westpac
    Commonwealth Bank

    @icebreaker1928, have you done this na? :)

    Nominated Occupation: Software Engineer (261313) - Husband is the primary applicant.

    10.21.2012 - Arrived in Melbourne. This is the day that the Lord has made. :)
    03.26.2012 - Visa granted. God is good, all the time! All the time, God is good! :)
    03.23.2012 - PCC submitted and medicals finalized
    03.02.2012 - Application being processed further / CO assigned
    06.26.2011 - Lodged Visa 175 application

  • freelancer_babefreelancer_babe Quezon City
    Posts: 37Member
    Joined: Aug 06, 2012
    edited August 2012
    Reply to @JClem: cool! kita ko ang online application form - or at least the online application form for that of National Australia Bank. It doesn't ask any TFN or Australian address.

    But I'm not sure with the current employer and estimated annual income field, it's being asked. So kailangan may work na?

    I'd trust bank websites in developed countries such as Australia - I'd really submit an online application to open such bank accounts. But then do shop around, baka pareho sila ng US na may monthly charges sa bank account and all the other fees that you might not expect.
  • LokiJrLokiJr Quezon City
    Posts: 2,616Member, Moderator
    Joined: Jan 13, 2011
    Guys nabalitaan niyo naman siguro yung ginawa ng BDO ngayon na tinaasan nila yung charges pag nagwwithdraw sa kanila...Apektado ba ang BDO-OFW accounts nito?

    Iniisip ko kasi na kumuha ng ibang bangko na lang hehe
  • JClemJClem Melbourne
    Posts: 528Member
    Joined: Jan 08, 2011
    @freelancer_babe, thank you for your reply. I'll ask these questions to the agent who will be assigned to my application. :) I'll keep you posted. :)
    But I'm not sure with the current employer and estimated annual income field, it's being asked. So kailangan may work na?

    I'd trust bank websites in developed countries such as Australia - I'd really submit an online application to open such bank accounts. But then do shop around, baka pareho sila ng US na may monthly charges sa bank account and all the other fees that you might not expect.

    Nominated Occupation: Software Engineer (261313) - Husband is the primary applicant.

    10.21.2012 - Arrived in Melbourne. This is the day that the Lord has made. :)
    03.26.2012 - Visa granted. God is good, all the time! All the time, God is good! :)
    03.23.2012 - PCC submitted and medicals finalized
    03.02.2012 - Application being processed further / CO assigned
    06.26.2011 - Lodged Visa 175 application

  • TinaRTinaR Braddon
    Posts: 69De-activated
    Joined: Aug 25, 2012
    Some cash, enough to live for 1 month and buy stuffs..
    Wire transfer for the rest...
    And, my Metrobank card that I used purchasing some electronics....

    "One should be pragmatic when it comes to realities in life."

  • cind3r3llacind3r3lla Perth, WA
    Posts: 153Member
    Joined: Sep 10, 2012
    hi...

    sa mga nasa Oz na, ask ko lang, ano ba ang advantage ng local banks versus international banks? meron na bang nakapag-try na mag-open ng international bank account sa oz (example Citibank, HSBC), then mag-transfer na lang ng funds from its Citibank/branch in the Phils?

    thanks
  • JClemJClem Melbourne
    Posts: 528Member
    Joined: Jan 08, 2011
    @cind3r3lla you can open a bank account in Au through online in Commonwealth, Westpac or National Australia Bank and then deposit your money through your local bank account. Bibigyan ka nila ng code para alam ng local bank mo san ita-transfer. Ok sa National AU Bank, free ang account opening and walang monthly charges. Siguro ang babayaran mo na lang is yung pagtransfer ng local bank mo.

    Nominated Occupation: Software Engineer (261313) - Husband is the primary applicant.

    10.21.2012 - Arrived in Melbourne. This is the day that the Lord has made. :)
    03.26.2012 - Visa granted. God is good, all the time! All the time, God is good! :)
    03.23.2012 - PCC submitted and medicals finalized
    03.02.2012 - Application being processed further / CO assigned
    06.26.2011 - Lodged Visa 175 application

  • cind3r3llacind3r3lla Perth, WA
    Posts: 153Member
    Joined: Sep 10, 2012
    @JClem.. yung mga international banks like Citibank/HSBC have monthly charges then? thanks. we will check NAB then.
  • JClemJClem Melbourne
    Posts: 528Member
    Joined: Jan 08, 2011
    @cind3r3lla I'm actually not sure if my monthly charges ang Citibank or HSBC savings/checking account. One thing you should also check is if madami ba sila branches or ATMs dun. Baka kasi mamaya konti lang pala sa AU lalo na ATMs, you will always be charged with a withdrawal fee. Sayang din.

    Nominated Occupation: Software Engineer (261313) - Husband is the primary applicant.

    10.21.2012 - Arrived in Melbourne. This is the day that the Lord has made. :)
    03.26.2012 - Visa granted. God is good, all the time! All the time, God is good! :)
    03.23.2012 - PCC submitted and medicals finalized
    03.02.2012 - Application being processed further / CO assigned
    06.26.2011 - Lodged Visa 175 application

  • atchinoatchino Sydney
    Posts: 312Member
    Joined: Jan 09, 2011
    Konti lang branch ng ATM sa sydney. Alam ko sa SBD mismo meron isa. nag subok ako mag incquire ng citibank ATM dun sa machine nila kung may charges. wla naman sofar na charge last time na check ko.

    To all Kuripotz.. please visit my blog.
    May kasabihan tayo: Kuripot man at magaling... yayaman din....

    http://kuripotism.blogspot.com.au

  • atchinoatchino Sydney
    Posts: 312Member
    Joined: Jan 09, 2011
    @cind3r3lla Hindi yata pwede trnasfer to brnaches na mag kaibng country.

    Separate ka parin an mag oopen ng acount.


    May thread na ko yata nasagot ko yugn question na simialr to this.

    - Bring Less tha n10k cash if gusto mo handcarry yung cash mo to Austrlaia.
    - if more than 10k dadalin , pwede mo deposit as USD sa citibank. para ma withdraw mo dito sa citibank ATM machine - alamko wala sila charges.



    To all Kuripotz.. please visit my blog.
    May kasabihan tayo: Kuripot man at magaling... yayaman din....

    http://kuripotism.blogspot.com.au

  • atchinoatchino Sydney
    Posts: 312Member
    Joined: Jan 09, 2011
    @LokiJr I think pag sa branch ka nag withdraw, wlang charges. PAg sa ATM lang yata nila may charges at di ako sure kung natuloy yung implementation.

    To all Kuripotz.. please visit my blog.
    May kasabihan tayo: Kuripot man at magaling... yayaman din....

    http://kuripotism.blogspot.com.au

  • atchinoatchino Sydney
    Posts: 312Member
    Joined: Jan 09, 2011
    @unanimous21 Verify mo kung per person yung 10k. Alam ko kasi per family. Kung magkahiwalay kayo ng arrival yata pwede. Pero pag magkasabay kayo at nasilip na more than 10k ... kailangan mo lang naman i declare.

    To all Kuripotz.. please visit my blog.
    May kasabihan tayo: Kuripot man at magaling... yayaman din....

    http://kuripotism.blogspot.com.au

  • MetaformMetaform Melbourne
    Posts: 506Member
    Joined: Jul 15, 2011
    May nakapag-transfer na ba via Ozforex? I'm communicating to them right now and they claim na free yung first bank to bank transfer.

    CO and Visa Grant: 9 Oct 2012
    The beginning of the rest of our lives: January 4, 2013

  • phinaxphinax Sydney
    Posts: 20Member
    Joined: Aug 09, 2012

    I just want to ask something for clarification? Ano po ba yung limit sa money na puede madala diyan, 10K AUD or 10K na Ph Peso?

    Or is the limit depende kung anong currency ang dadalhin?

    If the currency is in peso, then it is 10K pa din, and if the currency is in AUD then the max is 10K in AUD currency?

    Tama po ba ang interpretation ko?

    Help naman po...

    June 24, 2012 -Application Lodge
    December 11, 2012 - Visa Grant

  • MetaformMetaform Melbourne
    Posts: 506Member
    Joined: Jul 15, 2011
    @phinax More than 10K AUD needs to be declared. Hindi naman sya limit.

    CO and Visa Grant: 9 Oct 2012
    The beginning of the rest of our lives: January 4, 2013

  • MetaformMetaform Melbourne
    Posts: 506Member
    Joined: Jul 15, 2011
    Tinatamad na mag-back read, but is it better to buy USD to be exchanged to AUD in Oz than purchase AUD from the origin country?

    CO and Visa Grant: 9 Oct 2012
    The beginning of the rest of our lives: January 4, 2013

  • NadineNadine Brisbane
    Posts: 481Member
    Joined: Dec 15, 2012
    Hello mga pips!

    Buti na lang may ganitong thread. I have a question din kasi. Sana may makasagot...

    Kapag yung money ko deposit to HSBC US$ account, pwede ko ba to ma-withdraw in AUD sa HSBC Australia without charges? Meron po ba sa inyo nakasubok na ng ganito? Thanks for the input!

    21 Dec 2012 - 457 lodged
    7 Jan 2013 - medical finalised
    8 Jan 2013 - visa approved

  • 2rmobile2rmobile Melbourne
    Posts: 38Member
    Joined: Jan 02, 2013
    1. HSBC USD savings from PH then withdraw sa HSBC ATM will output AUD. USD to AUD converted ofcourse. Kung tama ang alala ko.. there is actually no bank charge only the converted rate.. Please clear this with HSBC branch in PH. I think I answered this in another thread.

    2. I prefer HSBC atms kasi mas marami sila than Citibank. Not sure if HSBC USD PH can use Westpac atm pero sure ako na An HSBC AUD account in AU can use Westpac atms for free no charge (i do this every week sa grocery etc).

    3. Kapag masyado malaki ang pera na gustong dalhin.. TT (telegraphic transfer) is the best and safest option... for P4000 service charge (recalling on top of my head) sure ka na your 50-100K AUD from HSBC PH to HSBC AU will arrive instantly.

    4. I knew meron ANZ makati and CBA before.. 2005. I dont like ANZ kasi may monthly charges sila. Dont know now kung ganun pa din. HSBC dont have a monthly charge.. basta minimum amt lang.

    5. Do not bring SOC (s**tloads of cash/bills) beyond 10k. Why take the risk?

    6. Withdrawing $2001 HSBC USD/AUD will incur a charge. pero $2000 USD/AUD notes ala ata. Inquire again.

    7. When converting rates from HSBC USD to AUD via IB (internet banking) .. develop a relationship with the manager so they can give you "preferred" rates (a bit higher than the usual rate)... tapos email email na lang kayo.. quite convenient.

    8. When withdrawing AUD SOC..5k-10k notes... Call before exchanging to know if notes are available. I remember one time Im queued sa line after a celebrity (si idol) sa HSBC QC.. he withdraw SOCs in AUD kaya naubusan pagdating sa akin. Mabait naman si idol...humble at ngiti lang. Last year I went home and exchanged some USD/AUD in BDO.. i queued over an hour...

    9. I also tried Travelers cheque way back 2003.. pero I dont recommend it now as TT is better. Pano kung mawala yung cheque? etc..

    10. For the past 8 years Ive been with HSBC. Too bad I closed the PH acct 2 years ago.. the relationship was really good. A year ago my HSBC AU CC was hacked and I got 8k AUD worth of fraudalent purchases. Yea its huge. Pero after a few phone calls it all got cleared up naman so I stick with them here. A month ago I called an HSBC call center.. a filipino guy answered me which is quite nice to talk in the native language while im here in AU.

    Disclaimer: I do not work for HSBC.

  • stolich18stolich18 Sydney
    Posts: 993Member
    Joined: Feb 15, 2012
    Yung telegraphic transfer parang wire transfer lang din? thanks ngapala sa super detailed na info! :)

    261313 (Software Engineer)

    Feb.15.2012 - started working on ACS requirements
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    "Great is the LORD and most worthy of praise; his greatness no one can fathom." Psalm 145:3

  • batobatsbatobats Melbourne
    Posts: 130Member
    Joined: Sep 04, 2011
    sa case ko since from SG ako, nagremit lang ako to my bank account sa AU ko thru pay2home sa SG. $20 yung transaction charge mataas naman yung rate kaya ok kung malaki padala nyo
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