Summary

The London Transfer Account not only gives you access to competitive foreign exchange rates, but also a full range of foreign exchange services. The London Transfer Account can give you access to deposit facilities, spot contracts, forward contracts and rate-watch contracts (please see Foreign Exchange Services for further details) You can have simple foreign exchange at your fingertips, competitive foreign exchange products and specialist knowledge all over the phone ensuring your move to Australia is made that little bit easier.

Fees, Charges & Conditions:

Fees:

• There is no fee for holding a London Transfer Account, but the following charges apply:

Charges:

• GBP £15.00 – per transfer for amounts up to GBP £29,999.99.
• Transfers GBP £30,000.00 and over attract no charge.

Conditions:

• Currency Available for conversion: GBP – AUD
  For other currencies please contact our London office: +44 (0)20 7710 3990
• The default instruction on the London Transfer Account is to ‘convert upon receipt’ . This means that your funds will be sent to Australia as soon as we receive them unless you provide prior alternative instructions to the London office. The account instructions can be changed verbally over the phone once you have been identified, or by letter with an accompanying signature. For full Terms and Conditions on the London Transfer Account please click here or request a copy from our London office on +44 (0)20 7710 3990

Features & Benefits:

• Competitive rates of exchange are available to all London Transfer Account holders
• Upon your first transfer of funds to Australia, an Australian retail account is opened with the Commonwealth Bank in your nominated state of arrival to receive your exchanged funds. Please see Australian Accounts for further details on the accounts available to you
• There is no monthly account keeping fee on the account
• There is no opening deposit required
• You are able to hold your cleared GBP funds in the London Transfer Account while you monitor exchange rates, allowing you the flexibility and control to ensure you get the best exchange rate possible:
  • Amounts of GBP £29,999.99 and under can be held for up to 6 weeks
  • Amounts of GBP £30,000.00 and over can be held indefinitely, these funds will be placed in the Sterling Short Term Call Account holding facility.

What you'll need:

When you are applying for a London Transfer Account you will need to submit all of the following:

▶Completed application form

Application forms can be completed online, downloaded from our website or sent through the mail on  request.

▶ Certified copy of a passport/s for all parties to the account:

Certifications must be in English and must be obtained from one of the following certifiers:

Solicitor, Bank Official, Accountant, Post Office Employee, Embassy, Consulate or High Commission of the country of issue.
Certifications must record the certifier's:

• Full Name
• Signature
• Job Title
• Employers Details
• Office Address
• Contact Phone Number

And where applicable, the certifier's:

• Official Stamp
• Applicable accountancy or legal numbers

▶ Two original address verification documents for all parties to the account:

If you are applying from within the UK we can accept the following original documents for address verification purposes:

• Bank statement (dated within the last 3 months)
• Credit Card Statement (dated within the last 3 months)
• Utility bill (dated within the last 3 months)
• Council tax statement (dated within the last 6 months)
• Pay Slip, with full address details showing (dated within the last 3 months)
• Certified copy of a full UK drivers license, with current address details

If you are applying from outside of the UK we can accept two of the above original address verification documents; you must provide:

• A Certified copy of a full drivers license, with current address details (original license will  not be accepted) - Please Note: This is mandatory for non-UK residents

Apply Now

You are able to apply for a London Transfer Account online, download an application form here to fill out by hand, or you can contact our  London office for a hard-copy pack to be sent to your requested address on +44 (0)20 7710 3990, Mon - Fri, 9am - 5pm GMT.

Apply Online

Before continuing with this application, please ensure you have the following documents at hand so you can complete this application in full:

You will need to have access to a printer. Once this form has been filled out in full, it will need to be printed, signed and returned with the required identification documents to the Commonwealth Bank's London office to complete your application.

Please Note: For the security of your information, this account application will timeout after 5 minutes of inactivity. We recommend you do not complete this application on a public computer.