Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
 
Thread Tools Display Modes
Prev Previous Post   Next Post Next
  #1  
Old 18.02.2019, 14:27
krolley's Avatar
Junior Member
 
Join Date: Mar 2008
Location: Brüttisellen
Posts: 37
Groaned at 0 Times in 0 Posts
Thanked 4 Times in 3 Posts
krolley has no particular reputation at present
Using current account to dollar-cost-average AUD purchases

Hi all,

I will be planning to move back to Australia after I get all the family visa's sorted, so probably in the next 1 - 2 years. Currently, the CHF/AUD exchange rate is quite high and for the amount of money I will transfer back, small exchange rate fluctuations will mean a hit to my planned finances (in both directions obviously!)

I am considering the option of opening a current account in AUD with UBS (my current bank) and using transferwise to transfer from my UBS CHF account to my UBS AUD account. I could then do 10 transfers over the next year instead of 1. Benefits: don't have to give UBS 3 months notice for a large transfer, can average out the FX rate over the next year, and when I go to transfer AUD to my Australian account it's a 'normal' international transfer with no currency conversion. Disadvantages: costs 5CHF per month for the account.

Any advice you can give on this idea? Is there a better way to do it?

Thanks
Reply With Quote
 




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Average cost to set up a Aquarium [ZURICH] swagata.manna Housing in general 8 11.08.2014 18:21
What bank is best to open a current account? LEO_Nuevo Castillo Finance/banking/taxation 10 10.08.2013 13:18
average cost uk removal? satkin Leaving Switzerland 19 29.11.2011 00:13
Health Insurance to cost 8.7% more in 2010 on average magic Insurance 18 22.10.2009 23:00
current median and average income in Switzerland juice99 Finance/banking/taxation 18 06.07.2009 13:58


All times are GMT +2. The time now is 21:58.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0