How to Send Money to Australia

    by William Plotnick
Updated May 29, 2024

Are you looking for the best way to transfer money to Australia? To many people are paying much more than they need to in fees and high exchange rates. We took this issue seriously and researched the top money transfer services so you can get more out of your dollar. If you’re looking to send money now or you just want the “know-how” on how to send money to Australia, you are definitely in the right place. Luckily, there are many methods that you can choose from when sending money to Australia. You can wire a money transfer, send money via bank, use an app or use a money transfer service.

There is a lot of flexibility and alternatives to choose from. Let’s check them out!

Best Money Transfers to Australia

If you’re looking to send money to Australia, you have many options, you don’t have to go straight to your bank.

In fact, through our research we found that you’ll likely pay lower fees and get the money faster by using a money transfer service.

We paid close attention to Speed, Fees, Transfer Amounts, and Acceptability to determine the best money transfer services.

It is important to keep in mind that the best money transfer service for you comes down to your situation (amount transferring and speed required).

Below are 4 licensed money transfer services to consider:


XE is a Canadian foreign exchange company. They are online based and offer top of line service. On top of their money transfer services, they also have various free currency tools that you can use.

Below are the main takeaways:

  • Transfer Speed (minimum time)-1-2 business days
  • Transfer Fee-$0
  • Minimum Transfer Amount- $1


WorldRemit is an online money transfer company that allows people from all over the world to send money to their friends and family. Aside from Transfering money to Australia, with WorldRemit you can send money to over 150 countries.

Below are the main takeaways:

  • Transfer Speed (minimum time)- within an hour
  • Transfer Fee-$3.99
  • Minimum Transfer Amount- $1


InstaReM is a unique fin-tech company that offers digital cross-border money transfers. InstaReM has a great platform, making global money transfers easy. They provide transaction services to individuals and businesses.

Below are the main takeaways:

  • Transfer Speed (minimum time)- 1-2 business days
  • Transfer Fee-$4
  • Minimum Transfer Amount- $50


CurrencyTransfer is an online foreign exchange company. They offer some of the best rates in the market getting you a cheap money transfer. CurrencyTransfer makes sending money fast and easy.

Below are the main takeaways:

  • Transfer Speed (minimum time)- 1-2 business days
  • Transfer Fee-$0
  • Minimum Transfer Amount- $5,000

Banks vs Money Transfer Specialists

Thanks to our fast pace technology, sending money to the other side of the globe isn’t that big of a deal. In fact, it’s easy!

The challenging factor is finding the right method to send your money. Although transferring money by a bank is the traditional way, that doesn’t necessarily mean its the smartest path.

Banks and money transfer specialists have the ability to move money around the world. When it comes down to it, they both do a great job. The bottom line is that money transfer specialists tend to be cheaper and faster.

We’ll show you a quick example:

The Hoffersons want to send $5,000 to help their son Joey with living expenses. Joey is a dedicated medical student at the University of Sydney. 

The Hoffersons want Joey to get the maximum amount of cash from the transfer. Below is the research that they did, comparing a US bank and an online money transfer company:

US Bank Online Money Transfer Company
Transfer Amount (USD) $5,000 $5,000
Exchange Rate 1 USD-1.3811 AUD 1USD-1.4244 AUD
Transfer Fee $49 $0
Transfer Speed 7 business days 1-2 business days
Total (AUD) 6,870.02 AUD 7,072 AUD


Can you guess how the Hoffersons Sent money to Joey?

That’s right, they transferred their funds with an online money transfer company saving more than  200 AUD!

What is a Foreign Exchange Rate

Simply put, a foreign exchange rate is the compared value between two currencies. The exchange rate is basically the amount of one currency that you can exchange for another currency.

When you need to change or transfer money, the exchange rate is defined by how much foreign currency you can get with your currency (or vice-versa). For example, the exchange rate defines how many Australian dollars you can get for one US dollar.

Get the Most Out of Your Money

Now that you understand the basics, you can get more out of your money if pay attention and compare the following points:

  • Exchange Rates- take a good look at the rate you’re offered and compare it to the mid-market rate. Look for the smallest margin.
  • Fees- not all, but most money transfer services have fees.
    • Flat Fees– a flat price, for example, $10 for a transfer up 1,000.
    • Percentage Fee– a percentage of the total transaction, for example, 2% of the transfer amount.
  • Transfer Methods- there are many different ways to transfer money: banks, peer to peer apps, money transfer services. Each method has different fees.
  • Transfer Speed- if you need to transfer money quickly, Western Union offers cash pickups in minutes.
  • Transfer Amounts- the amount of money you transfer is critical.
    •  Large cash transfers- look for the best exchange rate (most providers promote large transfers by offering low fees).
    • Small cash transfers- lookout for the fees that you’ll pay on top of the exchange rate, they’ll be more significant.
  • Customer Service- make sure that the transfer method that you choose offers customer service if you need it.

Emergency Transfers

When you’re in a serious rush, there’s no time to play around. If you’re in a situation that you need to send money quickly, take a look at the exchange rates and fees that you’ll have to pay.

We get that life can throw some curveballs and time is of the essence, but taking a few extra steps can save you money and prevent unwanted surprises.

Accessing an emergency money transfer is quick and easy. Just be sure to take the additional measures to verify that the money transfer service that you choose is safe and fair.

Bottom Line

There are really a lot of ways to send money overseas and truth be told the methods we shared above a super easy!

Don’t be lazy, compare the options, exchange rates, and fees. Taking further action can save you time, money and a huge headache in the future. Stay informed as always!