We always speak about how small the world has become. People are traversing the globe regularly daily. The reasons for this trend varies from person to person. With this comes the opportunity to transfer money to Australia online from all over the world.
One of the unique aspects of the country down under is that is has experienced a massive influx of expats in search of employment opportunities. As a result, there are often occasions that online money transfers to this vast country are necessitated.
Fortunately, as one of the developed economies of the world, there are many options available.
Comparison: Best Transfer Money to Australia
First Transfer Free!
- Transferwise is a very good provider for overseas transfers. The transfers are easy, convenient and secure. The most important thing is that the transfers are also much cheaper than with the bank.
Five Transfers Free!
- A world-class customer service, very good exchange rates and permanently favorable transfers abroad and to Germany convince. Only downside is the small selection of countries.
Send money very fast!
- Save up to 90% compared to banks. No hidden costs. Large selection of countries.
First Transfer Free!
- Azimo is a very competent partner for the international transfer. Azimo has a large selection of countries and the transfers are safe and cheap.
Australia is also known as one of the largest sheep farming areas of the world. There are many industries which have developed about this agricultural phenomenon. With this substantial international export market, many companies from around the globe also need to send money online.
Many people also visit the country for its magnificent beaches and unique sea life. It is also the place where many sharks have their playground. The continuous movement of persons through the Australian border posts has made it a rich country where many people within its borders have situations where they receive money from around the globe.
How can I send money to Australia?
There are many ways of sending money to Australia. When embarking on transferring money to this country, it is essential to have some knowledge of the various available options. The next step is to find the best option available which meets your criteria.
Some of the methods of sending money to Australia include:
- Bank wire transfer
- Companies such as Western Union and MoneyGram which allow cash pickup options
- A considerable number of online apps which will enable the sending of funds right from the comfort of your smart device.
- Companies which specialize in the online transfer on money available for pickup by third parties in the country.
All of these have different conditions an advantage. Make it your business to work out which is best for you.
Bank (it’s expensive)
There are still many people who believe in transferring money to Australia using interbank transfers. The thoughts around this are that it is a tried and tested method which is extremely stable and safe. However, there are a few aspects that need to be highlighted.
Bank transfers are often amongst the most expensive ways to transfer money to a third party in Australia. In many cases, these institutions have amongst the worse exchange rates when compared with other service providers. When choosing this method, you do not have many options regarding various ways of receiving money on the other side.
Money transfer provider
Some of them include:
How much does it cost to transfer money to Australia?
The companies which include an online transaction fee from the least expensive to the most expensive are:
- WorldRemit – $3.99
- TransferWise – $7
- InstaRem – $50
Duration of a money transfer to Australia
The period of money transfer transactions can sometimes play an important role in which one to choose in the end. All of this can depend if you have an emergency or not. The company from our list with the shortest waiting period is WorldRemit.
This provider promises to get the funds to your recipient in Australia within the hour. Two companies promise a transfer period of one day.
- Venstar Exchange
Three companies will have the funds cleared with a period of 1 – 2 days. These providers are TransferWise, CurrencyTransfer and InstaRem. The company with the most extended transfer period is XE with a time frame of 3 – 5 days.
Conclusion on the money transfer to Australia
Also, do not forget to include the following aspects when making that final decision.
- Have a good look at the exchange rates each of the providers are able to offer. Ultimately this determines how much your loved one will receive, excluding transfer costs.
- There are some who are able to offer this service free, while other companies charge different transaction rates.
- Some companies offering online money transfer services to Australia have different limitations regarding the amount of money you are able to send.
- How fast is the company able to get the money into the pocket of the third party waiting on the funds?
- There are some different pickup options, and these vary from provider to provider.
After taking all of this into consideration, you will be armed with enough information to make an educated choice.