Do you need to send money to Australia? If so there will be a number of services that will enable you to send the money, so you may be left questioning “what is the best way to send money to Australia?” To find the best way to send money to an Australian bank account you will need to consider the various options, with the aim of finding the cheapest way of sending money to Australia, so you will want to find a service that offers a great Australian Dollar exchange rate and has low transfer fees.

Sending money to Australia

Are you sending money to a relative or friend in Australia? Perhaps you need to send money to your bank account back home in Australia? Whatever your currency requirements and reason for sending money to Australia, you will need to consider the different options.

Sending money to Australia will be really easy as there are no currency restrictions or regulations and there will be a lot of services that will help you to send the money.

What services will enable me to send money to Australia?

A bank

A money sending bureaux

Who?

Most banks provide overseas money transfer services, for example Barclays, HSBC, NatWest

Who?

Money sending bureaux such as  Western Union and MoneyGram.
Advantages 

  • A service that you are familiar with using
  • The payment can be made directly from your bank account to your recipient’s account.
 Advantages 

  • Fast payments. Your money to be received in a matter of minutes. 
  • Some money sending bureaux have an online service, so you do not have to visit a shop to send money.
Disadvantages 

  • Banks offer poor exchange rates, so you get less Australian Dollars for your money
  • They charge significant transfer fees, so your recipient receives less of the money you intended to send. 
  • It can take up to 4 working days for your money to be received.
  • The inconvenience of having to visit the bank to send your money.
 Disadvantages 

  • You will get less foreign currency for your money due to a uncompetitive exchange rate
  • You will be charged a large transfer fee, resulting in your recipient getting less of the money that you send. 
  • Although your money can be received faster through a money sending bureaux than a bank, these faster payments are a lot more expensive than a regular transfer.

Member Sandgroper74 writes on ExpatForoum.com:

I am back in Dubai after returning to Australia for 3 years. I need to transfer money to Australia on a monthly basis and wonder what is the best, most cost effective way to do this?

If like this individual you require to send money on a regular basis, or even make a one of payment, sending the money through a bank or a money sending bureaux may not be the best way to send the money, as among other disadvantages, it can be really expensive to send the money, as MoneyGram for example, charge £36 for this transfer. *Accurate as of 26/06/2012 17:00 UK time.

A money transfer service like Xendpay could however be an ideal way for this individual to send money from Dubai to Australia. They would be able to send anything from the equivalent of £20 (100AED) up to £2,500 (around 14,00 AED) as a one of payment and the transfer fee would be £4 (20AED), which is £32 less than MoneGram’s transfer fee! *Please note that is based on a transfer made from Dubai to Australia on 26/06/2012 at 17:00.

Xendpay is also an ideal solution for people who need to send money on a monthly basis.The annual limit for money transfers with Xendpay is £7,500, however these limits can be increased simply, all you will need to do is provide us with documents that verify your identity and proof of address. Once you have increased your limits, you will be able to send as much as you wish throughout the year.

So why is Xendpay the ideal way to send money to Australia?

  1. Great exchange rate for the Australian Dollar and across our extensive range of currencies. Why not compare our exchange rates?
  2. Low transfer fees – Our fees can be 10 times cheaper than other money sending bureaux and banks.* For further information, please see our fee page.
  3. Send money 24/7, online via our payments platform
  4. Easy way to send money to Australia
  1. Online and telephone assistance
  2. No need to visit shops or to queue
  3. Your money will be received quickly. If we receive your payment instructions and your funds before 12pm on a working day your payment will be sent out that day your funds should be received in 1-2 working days. For more information, please see our delivery times page.

*This figure is based on a £500 money transfer from the UK to Australia made on the 25th June 2012 at 15:00 UK time through Xendpay when compared to the same transfer made though other leading money sending bureaux.

Send money to Australia now