Australian expat paying Aussie debt from the UK?

Question

Hi Guys,

Planning to move from Australia to the UK in June and was wondering how difficult it is to pay Aussie debt back home. Is it as simple as a transfer between accounts even though the currency is different? Will it just automatically convert?

Thanks in advance

Answer 1

AUTOMATICALLY

WELCOME TO UK

Answer 2

Most banks let you transfer money in the currency of your choice.  You should be able to make repayments in Australian dollars from a UK account by international transfer.  You will need account details, and something called a Swift number which your Australian financial institution can give you.

Answer 3

actually you can do it the way your suggesting but after you get to the uk as i did when i got to the usa get a loan convert the australian $$$$ into the local currency wow your debt is paid off in australia & now you got less to pay in the uk as aussie $$$ is down at the moment compare to the uk pound

Answer 4

I've had the same sort of delema but I'm based in the Netherlands.  What I've done is setup two PayPal accounts - one linked with my Aus bank account and another to my Dutch bank account and just send payments between the two.  Note though that PayPal only lets you do 6 withdrawals a year under their free account so I just do a big transfer every two months.  This works well for me, and is slightly cheaper than doing a transfer from my Dutch bank account direct.  Good luck and enjoy Pommyland!