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Transfer AUD to GBP

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On Tuesday, 18th August 2015 following question to our expert...


I have recently inherited a reasonable sum of AUD. At present it is sitting in a UK based AUD account, linked to my current account. Is it worth the hassle of transferring it out to a currency dealer, compared with using the bank's international rate to transfer directly to my current account.

The difference in exchange rate is not to be sneezed at, but nor is it so high to feel worth the hassle.

On Wednesday, 19th August 2015 ...

Hi Alison,

Thanks for getting in touch.

In answer to your question, independent studies suggest that using a specialist currency dealer to a requirement such as yours is well worth the hassle – you can save between 2 – 5% on a typical transaction.

From a market perspective, with continued evidence of a slowdown in China and further near-term interest rate cuts possible from the Reserve Bank of Australia, those needing to sell AUD into GBP would be well served to consider acting sooner rather than later.


John Cameron
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