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Posted by Vicky I don't know of any banks that let you have the same account in both Australia and the US. Most people keep one account in the States and one account in Oz and transfer the money as needed...for a fee, of course (they always get you coming and going!). There are lots of ways to transfer money: wire transfer (expensive), write yourself a cheque (slow), use Paypal, ATM withdrawals. Actually, you can access your money from virtually any US bank from an ATM. Currency is automatically translated. Same with credit cards. If you're looking to transfer a large amount of money to Australia, I'd suggest an exchange service like OzForEx or Xe.com. They can give you better exchange rates than a bank and lower fees. Opening a local account is definitely advisable if you are staying for any length of time and you need to perform local transactions (like paying rent, for ex). It's easy and some banks will let you do it online, allowing you to make deposits before you arrive. I believe ANZ and Westpac do this. Good luck on your adventure! --Previous Message--
on 10/9/2007, 7:47 am, in reply to "Banking in Australia"
124.171.71.114
Hi,
: My husband and I are relocating to Sydney and
: are looking to switch to a new bank. We are
: considering doing a CitiBank or Bank of
: America b/c they are both in the States and
: in Australia, but aren't sure if we should
: do that to get there and then open up an
: account at a local bank as well...? And if
: it's easy to use a CitiBank or Bank of
: America easily there - currency is
: translated etc...? Any suggestions would be
: much appreciated!!
:
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