Whether you're sending money to Australia for a holiday or simply to a friend or family member, it's important to find a service that offers the best value for your money. The best options offer competitive AUD exchange rates, low fees and speedy delivery.
Bank Transfers
Australian banks offer a range of international money transfers (IMTs), also known as "telegraphic" or "SWIFT" transfers. This is a safe and reliable way to send money overseas. It is a fast and convenient way to transfer funds, but it can be expensive. In addition, Australian banks may charge uncompetitive currency exchange and conversion rates.
Online Payments
You can also send funds from your Australian account to an overseas one through a web or mobile banking service. You don't need to go to a branch or sign up to anything, just enter the recipient's bank account details and transfer amount.
Foreign Exchange Brokers
If you're sending a large sum of money, it might be worth using a specialist foreign exchange broker. These companies are more familiar with the international market and know exactly what questions to ask to get you the most favourable rate. They also typically don't add a mark-up to the currency conversion, so you will pay less in fees than you would with your local bank.
Cash Pickups
A money transfer service that lets you pick up the cash in person is a popular way to send money in Australia. This is faster and more secure than a personal cheque but it can be more expensive than an online transfer.
Western Union and MoneyGram are two well-known money transfer services, with many cash pickup locations in Australia. They are both expensive, but on the plus side, they usually arrive instantly.
P2P Platforms
There are many online platforms that allow you to Money transfers in australia from the UK to Australia or elsewhere. Some have a minimum transfer limit, while others will allow you to send as much as you like. Some even offer discounts on certain transfer amounts.
When choosing a company, be sure to check their financial regulation and membership of the Australian Financial Complaints Authority. These organisations are an independent body that you can turn to for help if you experience problems with a company or its customer service.
Customer Support
A good money transfer company should be able to answer your queries, offer advice and provide you with the right solution, the first time. They should also be transparent about their fees and be easy to contact.
Reliable & Trustworthy
The best option is to use an online money transfer service that offers a good AUD exchange rate, low fees and speedy delivery. These services will usually have a strong reputation in the industry and provide good customer support.
Revolut - Revolut is an international money transfer service that lets you manage money from 30+ currencies and make payments anywhere in the world, from a free or fee-paying account. It's great for people who want to control their finances in their pocket and is especially useful for those looking for an easy way to transfer money around the globe.
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