Money Transfer to Qatar from Australia
Hi all, I'll be moving to Qatar from Australia in end of January 2011. I am planning to stay in Qatar for 2 years as per my work contract and then may extend the contract if desired. I have a question regarding transferring money to Qatar.
Currently, I have a bank account with an Australian bank (Commonwealth bank) and no bank account with any Qatari bank. I plan to open a bank account in Qatar once I reach there. I do not wish to close my bank account in Australia, although I do plan to keep minimum amount in Australian account and keep all my salary and other savings in Qatari account.
What is the best way to transfer money (something like around 25,000 Australian Dollars) from Australia to Qatar? Should I do international money transfer from my Australian bank to Qatari bank once I reach in Qatar as I do not have any bank account in Qatar yet? Is there any other way to move money safely, swiftly and at better rate than bank?
Thanks all in anticipation for your replies.
Why not leave it in Australia? You can use your debit/cash card here from your Australian bank. We do have a bank account in Qatar but I'd never keep a lot of money in it. If you encounter problems here they can freeze your bank accounts.
Mandi
Thanks pdte. Can you tell me what was the rate CBA gave you to transfer money to QNB and what date (approximate) was the transfer initiated by you? Also just to confirm, you did CBA online international money transfer on their website, right? Cheers
I have a CBA account and have successfully transferred a similar amount recently to a QNB account. Worked very well. Exchange rates weren't great but not as bad as I expected. I couldn't find any other convenient way to do it.
dear about transfering money better if you ask your bank management there in australia they will guide you in best way. but if you bring 25000 AUD and put it in your qatari bank account then they will definitely investigate about your money..coz here they want proof from expatriates & want to know that from where this money comes from? which is a big headache. i dont know about australia but in qatar they dont allow expats to have such a huge amount in there accounts they will allow you in some cases 4 example if you are businessmen or have a written proof of your money..transfer money is not a big issue but keeping money is lil bit headache..but if you have proof then transfer it here & enjoy..
Unless there is a need for a lumpsum amount, debit and credit cards will still work. Buy expensive things on credit card and do a card payment from Australian account and when need for cash, use the ATM card.