Thanks for that...baack on the phone tomorrow to compare....suncorp website looks poor...nothing about Treasury?
Well more phone calls to OZforez and the people that have my money in US $
I cannot use "direct" Ozforex as they are a 3rd party trader and the money I'm told needs to go into my name account....OZforex is a hub(number) that does NOT show that it has gone directly to me.
$25,000 is not much more than loose change when dealing with FX. Too much hassle for any bank for very little margin/profit..Now I could understand this service for $500 transaction but its upward of $25K......
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If you want 3rd world banking service, try opening an account with a US bank as a foreigner, and then try to send money overseas. Not usually something that registers with your suburban branch over there.
If the OP manages to open a USD account with a bank in this country, then he has control of the money as you suggest, and can send it to himself through whatever exchange mechanism he prefers. None of the banks are going to do this without some margin or fees, so the exercise is to find the lowest costs for the transactions he wants to do. I believe the banks are capable of giving finer spreads than he has been quoted if they want the business, but they usually need to be convinced it is in their interests to do so because of the future volume they will be doing with you.