I am in a situation where I am about to sell my house and move to Australia. I will have about £250,000 that I would like to deposit. I intend to take about 3 months travelling and will not touch any of the amount before then.
Where should I deposit this money for the best return on interest during the period I am travelling. Should it be UK or Australia. Any suggestions (serious) where my best return is likely to be (at low risk).
Judging exchange rate movements over this period is down to chance. Since UK interest rates are on the up (but possibly near the peak) I'd guess that sterling is near a short term peak. It depends what's happening in Australia with interest rates. Unless they're weak with good prospects of further weakening, I'd transfer sooner rather than later.
In terms of investments - 3 months indicates bank accounts or fixed interest. You might be able to negotiate rate with banks for this amount. Be aware of the compensation limits in event of the bank going bust - UK = ~30K.
For currency transfer see
Daytona
BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.