WHAT IS IT?

As a Kickstart London Package customer you are entitled to an International Money Transfer provided by 1st Contact Forex.

Once you set up your UK bank account (assisted by our Kickstart team) you will want to get your dollars transferred to the UK without paying excessive bank fees.

To get set up for this transfer you will need to register online and then activate your money transfer account. It is easier to do this before you depart while you still have proof of address.

The details that follow guide you through what a money transfer is and how you can benefit.

HOW TO USE IT?

Step by Step guide

1. Registration—Easy online registration at www.1stcontactforex.com.au
2. Send in your activation documents.
3. Once activated you can start transferring!
4. To finalise the transfer call us or go online (complete instructions provided
   once activated).

Your funds are converted with our excellent exchange rate and will be in your account in 1-3 working days. EASY!

NEW OPTION -You can now lock in todays rate. You need to request this service and speak to us to learn how, We will hold your GBP in the UK until you have a UK account. This is great if you want todays strong rates!

• What is a money transfer?

  An international money transfer is a method of moving funds from one currency to another. For example, transferring an amount of AUD to your bank account in GBP without physically handing over any paper money.

• Why is a money transfer better than using your bank?

  Normally this would be a difficult task and your bank would charge excessive fees for the privilege. The banks will complete a wire transfer or telegraphic transfer which credits your overseas account minus their fees.
  However, with 1st Contact Forex we perform this transfer with ease and security. We don’t complete a traditional wire transfer and as such avoid the bank fees. This is achieved by having several bank accounts in our transferring countries allowing us to get great rates and save our clients money.

• Which countries can I send funds to?

  Destinations include UK, Australia, New Zealand, South Africa, Poland, USA, Canada, Europe, Hong Kong, Singapore, UAE, India, Sri Lankan, Pakistani, Sweden and Switzerland.

• How secure is 1st Contact Forex?

  At 1st Contact Forex the security of our clients’ funds and peace of mind is of paramount importance. 1st Contact Forex is registered with HM Customs & Excise in the UK as a money services business with MSB registration number 12148630.
  1st Contact Forex Pty Ltd holds an Australian Financial Services License (AFSL) issued by ASIC to deal in foreign exchange. This license can be viewed by following this link to the ASIC website: (AFS License number 335 126).
  We meet required capital and liquidity requirements and stand under the financial controls and KYC (Know your client) policies and procedures of our corporate banker HSBC and ANZ Ltd. All client funds are held in designated Client Money bank accounts with our corporate banker HSBC and ANZ Ltd. Our secure website uses SSL 3 encryption software to ensure ultimate protection.

• What Documentation is required to open an account?

  Before you can proceed with your money transfers, we require certain documents so that your account can be activated. This is required for us to meet KYC policy.
  We require the following documents:
  - Copy of your passport.
  - Bank statement or utility bill, as proof of address
  All documents must have your signature, date of birth and a contact number written on them.

• How long does it take until the funds are in my overseas account?

  It takes no longer than 3 days for cleared funds to reflect in your account. Please note that the funds will be sent once they have been received in the holding account. Depending on your banking institution this may take 1 or 2 days.
  

• What are your transfer fees?

  1st Contact Forex charges a flat fee of $5 for transfers from AUD/NZD to GBP
  GBP to AUD £7 & GBP to NZD £1

• Are there any hidden charges or receiving bank charges?

  No, one of the main advantages of using our money transfer service is that there are no bank fees incurred. This includes your receiving bank.

• Why are 1st Contact’s exchange rates better than the banks?

  When 1st Contact purchases currency we do it in bulk. This allows us to secure a much better rate for all our clients. Where as the banks will only purchase enough currency for the individual transfer and therefore suffer a poor exchange rate.

• Why can’t I get the exchange rate listed on TV?

  The rate you see in the media is the Interbank Rate, which is the rate that banks trade with each other at. No individual can secure this rate.
  Rates are often misleadingly displayed in order to portray a higher rate level, which is not possible in reality.  We recommend phoning your current banking provider to obtain the exchange rate you are likely to receive, along with the additional fee’s incurred with wire transfers and using overseas ATM’s.  These can range from A$20-$30 to send your funds, along with a receiving fee (usually a similar amount) at the other end.  Using an ATM will usually incur a “handling fee” of around 2.5% of the amount you withdraw, on top of the standard charge for using an overseas ATM.

• What methods of payment can I use to transfer the funds to your account?

  When transferring funds to the UK, NZ, South Africa and Poland we accept the following payment methods:
  Internet banking (pay anyone), Bpay (exclusive to Kickstart Package Clients) and branch deposits.

• What is the minimum amount that can be transferred?

  There is no minimum transfer when using 1st Contact Forex.

• What is the maximum amount that can be transferred?

  There is no maximum amount that can be transferred however, when transferring an amount of £10,000 (or foreign currency equivalent) or more, or £30,000 (or foreign currency equivalent) in a 12 month rolling period, 1st Contact Forex needs to receive proof of “source of funds” as prescribed by HMRC’s Anti-money laundering regulations.  In these cases 1st Contact Forex can only secure you an exchange rate when we receive your documentation.