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RuOz
01-06-2009, 11:18
Looking for practical advice..anyone done this? Which bank is better/easier to use?

Apart from HSBC, which has retail branches in AU and RU, none other
Australian banks seem to have retail presence in Moscow

Commbank is listed as Raif's australian correspondent. Also, if paid in Rubles, what's the best way to avoid double conversion RR->USD->AUD :9451:

Any pointers will be much appreciated!

Matt24
01-06-2009, 12:02
Barclays are in both countries, I think.

Kangaroo495
01-06-2009, 13:04
Looking for practical advice..anyone done this? Which bank is better/easier to use?

Apart from HSBC, which has retail branches in AU and RU, none other
Australian banks seem to have retail presence in Moscow

Commbank is listed as Raif's australian correspondent. Also, if paid in Rubles, what's the best way to avoid double conversion RR->USD->AUD :9451:

Any pointers will be much appreciated!

I've done it through Raiffeisen several times, and once or twice through Unicredit. Can't remember what the deal is with Raiffeisen, but at Unicredit, I was able to open a bank account in AUD. I would transfer my rubles from my main account to my AUD account, then send then to Oz. That seemed to avoid any extra exchange rates.

Why do you need both banks to have a retail presence? Is it cheaper to transfer that way?

RuOz
01-06-2009, 14:15
thanks Roo! AUD account is a good idea

In general, unless there is a retail presence, an individual can't open
a transactional account, hence Swift IMT not possible

Barclays pulled out of retail in Aus long time ago...

RuOz
01-06-2009, 15:15
some banks also consider moving funds between transactional accounts in different countries as an internal transfer without an extra fee..

also it is less prone to stuff ups when it is the same bank

i was thinking of opening a USD or Euro account in Oz..but Aussie banks
are a pain in a neck, so inflexible and backwards :thumbdwn:

Kangaroo495
01-06-2009, 15:17
Aussie banks
are a pain in a neck, so inflexible and backwards :thumbdwn:

But good interest rates... Or maybe I'm just used to Russian banks...?

RuOz
01-06-2009, 15:26
variable rate personal loan is around 16% pa..plus tons of fees and charges
lending limit is around 50K AUD for unsecured loans

term deposit 12m in AUD .. banks pay you around 3.8%pa
doesnt look too good :9451:

Aussie1973
18-07-2009, 14:06
I'll post here becuase you guys are talking about a topic that I need to think about, and that is how to get funds to Russia to buy a car.

All my Aus banking is with CommBank at present and I didn't even think of opening an account with an International bank like HSBC!

That would make the international money transfer a whole lot easier wouldn't it?

I have heard that otherwise it can be very problematic to have money transferred in?

I won't need to send any home to Aus.